Stocks, U.S. Futures Rise at End of Volatile Week: Markets Wrap
This content was published on May 21, 2021 - 09:13
May 21, 2021 - 09:13
(Bloomberg) Stocks and U.S. futures rose on Friday as investor optimism got a boost from strong economic readings and earnings reports. Oil climbed.
European equities climbed after data showing a recovery in the region led by services, while luxury shares got a boost as Richemont climbed on sales that topped estimates. Contracts on key U.S. benchmarks rose, signaling more gains after Thursday’s rebound fueled by better-than-forecast jobless claims data. Asian shares were mostly higher, although they slipped in China.
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Treasury yields slipped and the dollar edged higher.
By Sunil Jagtiani and Namitha Jagadeesh, Bloomberg
21 May 2021 10:00
Image: Bloomberg
Stocks rose with US futures on Friday as investor optimism in the prospects for growth got a boost from strong earnings and economic readings.
The Stoxx Europe 600 Index climbed, with Richemont pushing luxury shares higher after the maker of Cartier jewelry reported sales that topped estimates. Contracts on all three US benchmarks were higher, signaling more stock gains after initial jobless claims dropped to a fresh pandemic low on Thursday. Asian shares were mostly higher, although they slipped in China.
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