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World Market Migrating Higher on Upbeat Macro Data

Money

The global equity markets saw an uptick in trading activity in the past week.

A fair amount of economic data was released across the world, which provided some movement in the major equity indexes. With that said, the S&P 500 traded to a new all-time high and hasn’t looked back.

As the data below show, the global numbers are picking up:

  • Starting in Japan, the Nikkei posted solid gains. This was helped by weakness in the yen against the dollar, which saw the currency depreciate throughout the Japanese trading week. The strong sentiment in stocks was supported by another solid set of figures signaling signs of domestic recovery. First, the final May reading of Japan’s Manufacturing PMI was revised up to 53.1, compared to the preliminary figure of 52.0. The other significant release was the Q1 capital spending, which saw better-than-expected growth of 4.5%, 50 bps better than consensus.

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Source: Human Events

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