Global markets continue rebound as US stocks notch biggest weekly gains since 2020 – The National

Global markets continue rebound as US stocks notch biggest weekly gains since 2020 – The National

Global stock markets continued their rebound and closed broadly higher on Friday, with Wall Street notching their biggest weekly gain in 16 months.

The S&P 500 rose for the fourth straight day, adding 1.2 per cent to a streak that included back-to-back days with gains of 2 per cent. The Dow Jones Industrial Average rose 0.8 per cent, while the Nasdaq composite rose 2 per cent. The three Wall Street indices each had their best week since November 2020.

In Europe, London's FTSE 100 closed up 0.3 per cent, Frankfurt's DAX rose 0.2 per cent and Paris' CAC 40 inched up 0.1 per cent. In Asia, Tokyo's Nikkei 225 rose 0.7 per cent and the Shanghai Composite climbed 1.1 per cent, while Hong Kong's Hang Seng dropped 0.4 per cent at the close.