Global Markets Rally on Robust U.S. Data Amid Tariff Tension
Global shares rose on Friday due to strong U.S. economic data and earnings, easing tariff concerns temporarily. The yen weakened as Japan prepared for an election. Solid U.S. earnings, including Netflix's results, bolstered investor confidence, although U.S. tariffs remain a focus. Oil and gold prices also edged higher amid supply concerns.
Global shares saw an uptick on Friday as strong U.S. economic indicators and buoyant corporate earnings helped ease tariff-related fears for the moment. Meanwhile, the yen weakened looking ahead to a significant legislative election in Japan this Sunday.
This week's better-than-expected U.S. retail sales figures and jobless claims data, which indicate a modest upturn in economic activity, propelled key stock indices like the S&P 500 and Nasdaq to record highs on Thursday. As a result, Asian and European shares followed suit with gains on Friday. Wall Street futures also edged up slightly.
The current U.S. earnings season commenced positively with companies such as Netflix exceeding forecasts, bolstering investor confidence despite concerns over U.S. tariffs. Prominent companies like Alphabet and Tesla are poised to announce their results soon, which will test market sentiment once again.
(With inputs from agencies.)
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