May 18, 2013
Global stocks climb on factory, US jobs data
Major world stock markets climbed to their highest in nearly two years today, helped by manufacturing and employment data indicating the global economic recovery is on track.
US stocks rose to five-year highs after jobs and manufacturing data showed the economy's recovery remains on track.
The Dow Jones industrial average was up 150.14 points, or 1.08 percent, at 14,010.72. The Standard & Poor's 500 Index was up 15.11 points, or 1.01 percent, at 1,513.22. The Nasdaq Composite Index was up 38.50 points, or 1.23 percent, at 3,180.63.
European shares inched up today, as investors took advantage of the past two sessions' losses to snap up equities more cheaply, reassured by a run of solid data from China, Europe and the United States.
The pan-European FTSEurofirst 300 closed 0.3 percent higher at 1,168.08 points, clawing back some of the retreat suffered in the previous two sessions and edging towards a 2-year peak of 1,178.55 set earlier in the week.
The EuroSTOXX 50 gauge of euro zone blue chips added 0.3 percent to 2,710.08 points after finding technical support at the 30-day moving average just below 2,670 points.
In Asia, Japan's Nikkei average marked its 12th straight week of gains, its longest winning streak in 54 years, as investors bought companies that sparkled during the earnings season and stayed optimistic that a weak yen would boost bottom lines.
The Nikkei, which reached 11,237.84 during today's session, ended 0.5 percent up at a 33-month closing high of 11,191.34. The index gained 2.4 percent this week, giving it the longest run of weekly gains since 1959.
The broader Topix added 0.3 percent to 942.65 in active trade, with 3.69 billion shares changing hands. Between January 21-25, the average daily volume was 3.44 billion shares.