Stocks advance, dollar gains as tech shines through macro clouds – ZAWYA

Stocks advance, dollar gains as tech shines through macro clouds – ZAWYA

Stocks advance, dollar gains as tech shines through macro clouds MSCI's world equity index, which tracks shares in 49 nations, was unchanged at 551.89    A trader wearing a mask reacts at the closing bell, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. BOSTON/NEW YORK  - Strong earnings from U.S. technology firms drove Wall Street higher but shares in Europe slid on Friday on doubts about the economic recovery from the coronavirus pandemic, while the dollar rose but still posted its worst month in a decade.Oil prices gained, benefiting from news that U.S. output cuts in May were the largest on record, while gold hovered near its all-time peak, helped by dollar weakness and dire economic numbers from far and wide that sparked a rush to safety.The dollar has been weakening amid expectations the U.S. Federal Reserve will be forced to maintain its ultra-loose monetary policy for years, a policy seen as debasing the currency.  Oil prices gained, benefiting from news that U.S. output cuts in May were the largest on record,