Wall Street Soars as U.S.-China Trade Truce Fuels Global Market Rally

In a buoyant week for global markets, Wall Street surged as a trade truce between the United States and China lifted investor confidence. European shares joined the rally with their fifth consecutive weekly gain, supported by stronger-than-expected corporate earnings.

Despite the upbeat market sentiment, gold prices experienced their most significant weekly decline since November. Contrarily, oil futures managed a modest gain while remaining subdued overall, which in turn backed stock and bond markets.

The week's dynamics were complicated by mixed data in the U.S., including falling housing starts influenced by tariffs and high mortgage rates, and increased inflation expectations among consumers. These elements reinforced a positive outlook among strategists who believe the trade developments herald a reduced global recession risk.

(With inputs from agencies.)