Global shares edged higher on Friday, spurred by a rally in Chinese stocks on latest policy steps to boost demand and as robust U.S. economic data this week continued to bolster investor sentiment.
Investors remain alert to potential market volatility, with war in the Middle East still looming large and the U.S. presidential election fast approaching. Several so-called ‘Trump trades’ have gained momentum in recent days as markets shorten the odds of a potential Donald Trump victory. “ higher rates for too long? That is very much on people’s radar. There’s a bit of a worry about aggregate demand,” said Ross Yarrow, managing director of U.S. Institutional Equities at investment bank Baird.
Data on Thursday showed U.S. retail sales rose a stronger-than-expected 0.4% last month, while a separate report showed initial jobless claims had dropped. The euro was broadly unchanged at $1.0836 after sliding to $1.0811 in the previous session, the lowest since Aug. 2.
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