World Socks Hit another Record, Crude Up in Big Data Week


MSCI World Index up 0.3; Brent above 70bbl

Dollar down 0.1, gold up; US 10year up 2 bps

LONDONSINGAPORE, June 1 Reuters Global stocks again hit record highs and oil rose on Tuesday, before European and U.S. data that should this week offer major clues on the health of the world economy.

Risk markets have eked out gains in recent weeks as traders balance optimism that the United States and other key markets are reopening after pandemicinduced lockdowns with concern that rising inflation could prompt central banks to rein in stimulus programmes.

The recovery from COVID19 also remains patchy in many parts of the world, with exports reviving but broader economic activity still dampened by measures to contain fresh outbreaks.

Against that backdrop, euro zone inflation numbers on Tuesday will give an indication of rising pressures in the bloc, while Fridays U.S. jobs data should give a firmer steer on nearterm Fed policy action.

In advance of that, MSCIs broadest gauge of global stock markets rose 0.3 to a record high, led by broad gains across Europes leading indexes, with the STOXX Europe 600 up 0.7.

Overnight, MSCIs broadest index of AsiaPacific shares outside Japan rose 0.6, hitting the highest in a month and taking total gains so far this year past 7.

South Korean stocks rose 0.6 after a jump in May exports, and Chinese stocks climbed 0.2 after data showing factory activity expanded at the fastest pace this year in May.

This weeks main event is Fridays U.S….


Please enter your comment!
Please enter your name here