Milan — World stocks ticked up to new peaks on Monday on bets interest rates will remain low and the economy continue its recovery, while oil prices jumped after a cyberattack on a US pipeline operator unnerved markets.
US nonfarm payrolls data on Friday showed jobs growth slowed much more than expected in April in a shock release that gave equities a lift but put downward pressure on the dollar and US Treasury yields. In recent weeks, some investors had been placing bets that a robust US economic recovery from the coronavirus pandemic would force the Federal Reserve to tighten policy earlier than the central bank has outlined.
The focus now shifts to US consumer price data due on Wednesday, which will help investors determine whether they need to scale back their inflation expectations even further. In the cryptocurrency market, ether rose 5% to a fresh record above $4,000. Bigger rival bitcoin rose 1% to $58,862.