Home / Business / Global markets – European stocks rallied as investors started May on a bullish mood.

Global markets – European stocks rallied as investors started May on a bullish mood.

* European stocks increase latest profit, Wall St aims to open higher

* English, Chinese, Japanese markets are closed during the holidays.

* Busy week for economic data vs. US employment figures for Friday.

* Graphics: global asset performance http://tmsnrt.rs/2yaDPgn

* Graphics: World exchange rates http://tmsnrt.rs/2egbfVh

By Tommy Wilkes

LONDON, May 3 (Reuters) – European stocks rallied on Monday as investors rose on the global economic recovery, looking ahead to a busy week for expected U.S. economic data. Emphasize the strength of recovery.

As China, Japan and Britain are closed on public holidays, volumes are thin and Asian stocks start to slow, with most markets going red.

But investor optimism, boosted by strong earnings growth over the past two weeks, has extended to May in Europe.

The Euro STOXX index was up 0.68 percent in early trading, while the German DAX gained 0.7 percent and France̵

7;s CAC 40 0.61 percent.

Wall Street futures were on the rise, suggesting more gains continued after the stock market hit another record high last week.

The MSCI global stock index, which tracks stocks in 49 countries, was flat today and below all-record highs, however losses in Asia offset gains in Europe.

Supporting investor enthusiasm for more risky assets is the feeling that the global economy is booming as countries come out of a stagnation and consumers and businesses are releasing some of their excess savings. Built in the last year

March’s German retail sales data came out much better than expected, suggesting that the US-led economic recovery is gaining traction elsewhere.

A recent business survey points to a growing sentiment about a resurgence, although some economists think businesses may move forward and be more influenced by the success and speed of the business. Launch of the COVID-19 vaccination

“The data has been unrealistically strong over the past several months – while the underlying economy is doing well. But manufacturing growth is not as stratospheric as the survey noted, said UBS economist Paul Donovan.

“The buzz about the vaccination cycle may be more important in determining answers to polls than actual economic activity.”

A busy week for US economic data is expected to show resounding strength, especially for the ISM manufacturing and April employment survey. 978,000 jobs are forecast to be created this month as consumers spend more on stimulus and the economy is more open.

For example, analysts at NatWest Markets saw US jobs rise 1.25 million in April, with unemployment rising to 5.2% from 6% in March.

The increase could spur speculation in asset purchases, with the Federal Reserve declining even though President Jerome Powell has shown signs of a policy treatment.

Powell is scheduled to speak later on Monday and will have Fed officials to follow this week. Dallas Fed President Robert Kaplan caused chaos on Friday, calling for a conversation to begin on the cut.

Powell’s patience helped limit stock sales, but the 10-year return ended last week, adding 6 basis points.They were at 1.626%, most recently down slightly that day.

The increase has fueled support for the U.S. dollar, which has been pressured by the rapid expansion of the US budget and the trade deficit, a by-product of higher-performing economies.

The dollar index was at 91.218 and closed a two-month frame of 90.422, although it still ended in April with a 2% loss.

The euro rose 0.2 percent to $ 1.2040, retracing from a nine-week high of $ 1.2149 on Friday.

Cryptocurrency ether hit a new record in excess of $ 3,000 as investors bet that it will have more benefits in a decentralized future financial system. The sharp rise, which is currently rising 325% in 2021, has overshadowed the bigger rival bitcoin.

Oil prices plunged into profit-taking, which ended last month, rising 6 percent to 8 percent.

Brent was down 9 cents to $ 66.67 a barrel, while U.S. crude was down 6 cents to $ 63.52 a barrel.

(Additional reporting by Wayne Cole in Sydney Editing by Mark Heinrich)

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