Global Markets Surge Amid Optimism in U.S.-China Trade Talks

Global stock markets surged to record highs on Friday, bolstered by promising developments in the ongoing trade negotiations between the United States and China. The agreement reached on Thursday pertaining to the acceleration of rare earth shipments to the U.S. provided a lift to markets, driving investor confidence upward.

The pan-European STOXX 600 index increased by 0.8%, setting the stage for its best week since mid-May with a prospective 1.1% weekly gain. Similarly, U.S. stock futures depicted a positive opening for Wall Street, further fostering a bullish sentiment across global markets.

The dollar hovered near multi-year lows, impacted by expectations of potential U.S. rate cuts. Meanwhile, oil prices rose slightly, influenced by the broader market trends, despite earlier fears stemming from geopolitical tensions in the Middle East.

(With inputs from agencies.)