By Tyler Durden
World stocks hit a new all time high on Friday with U.S. equity futures rising for the 8th trading day out of 9 in 2018 – the Dow is just a little over 300 points away from 26,000 – alongside Asian shares while European stocks and oil are little changed. The euro surged to a three-year high as Germany was said to reach a “grand coalition” agreement, heaping more pressure on the dollar before inflation data.
European stocks advanced with U.S. equity futures as BlackRock Inc. kicked off a busy earnings season with profits that beat estimates.
MSCI’world stock index hit yet another record high and was on track to rise for its eighth of the nine business days so far this year — for a total increase of 3.5%. “This bull market is highly related to the fact we are facing good growth, low inflation and soft monetary policy normalization. If any of those were to be shaken that would be a big problem,” said Jeanne Asseraf Bitton, head of cross-asset research at Lyxor Asset Management.
The euro is set for its strongest close since December 2014, leading most G10 currencies higher against the dollar. The Stoxx Europe 600 Index climbed …read more