World stocks climb on China trade relief, while U.S. jobs data dents dollar

World stocks climb on China trade relief, while U.S. jobs data dents dollar

NEW YORK (Reuters) - World shares rose on Thursday after China's exports came in far stronger than expected, suggesting an economic recovery was under way, but the dollar fell from two-week highs as U.S. data showed millions more Americans joined the ranks of the unemployed.. Technology stocks again led Wall Street higher as investors bet on a recovery, pushing the Nasdaq into the black for the year after equity markets had plunged from all-time highs in February.. And much of the economic data remained grim, with the Bank of England warning that the coronavirus crisis could cause the country's biggest economic slump in 300 years.. "Markets seem to be overestimating the speed of economic recovery.". An early rise in Italy's yields to over 2% reflected worries caused by a German court ruling this week targeting the European Central Bank's bond purchase program.. The U.S. dollar fell from two-week highs as investors booked profits on the currency's gains this week before Friday's U.S. nonfarm payrolls report for April, which could show massive job losses amid the COVID-19 pandemic..