Shares rally on China-US trade optimism
NEW YORK/PARIS: Global shares reached a record high on Friday, helped by market optimism over signs of progress in US-China trade talks, while the dollar held close to its lowest levels in more than three years.
The benchmark S&P 500 index and Nasdaq hit all-time highs, lifted partly by gains in megacap growth stocks including Nvidia and Amazon.
The S&P 500 index and Nasdaq are headed for a weekly gain and are up about 5% this year, following a volatile first half of the year, dominated by US President Donald Trump's tariff announcement on April 2, which sent stocks plunging.
The Dow Jones Industrial Average rose 1.13% to 43,879.23, the S&P 500 rose 0.62% to 6,178.95 and the Nasdaq Composite rose 0.51% to 20,270.99.
The pan-European STOXX 600 index finished up 1.1% on the day, set for a weekly gain.
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