Stocks closed out the week with a bang, with the S&P 500 finishing above 1,600 and the Dow briefly topping 15,000 for the first time, as Wall Street cheered a better-than-expected April nonfarm payrolls report.
Brent crude rose more than $1 to surpass $104 a barrel on Friday, after better-than-expected job growth in the United States.
U.S. Treasurys yields surged on Friday after employers added more jobs than expected in April, adding to hopes the economy is not slowing as badly as feared.
European shares closed higher on Friday after non-farm payrolls data from the U.S. came in better-than-expected.
A slow-growing developed world and worries about future U.S. bond rate action have positioned emerging markets as a go-to asset class for fund investors.
Sentiment in Asia turned cautious on Friday ahead of a key jobs report in the U.S. but Shanghai stocks rallied as investors cheered new measures by the Chinese central bank to open up its capital markets.
A record high yuan in the face of recent road bumps in China's economy is testament that Beijing remains confident in the health of the world's second largest economy.
The euro fell sharply against the dollar in choppy trading on Thursday after European Central Bank President Mario Draghi said the bank is ready for negative deposit rates.
Gold rose as the European Central Bank cut its interest rate for the first time in 10 months, affirming the metal's inflation-hedge appeal a day after the Federal Reserve said it would keep up its bond purchases to spur growth.
U.S. Treasurys prices were little changed on Thursday, as investors focused on the upcoming U.S. employment report and accommodative central bank monetary policy.
Oil was lifted by an interest rate cut by the European Central Bank that supported riskier assets, but a shaky global oil demand outlook and ample supply weighed.
European shares rebounded to a higher close on Thursday, paring losses from when ECB President Mario Draghi confirmed the central bank would not deliver any extra stimulus. The pan-European FTSEurofirst 300 Index closed around 0.5 percent higher.
U.S. stock index futures climbed Thursday as Wall Street cheered a better-than-expected jobless claims report and after the European Central Bank cut its key interest rate.
Copper's downward trend foreshadows a stock market collapse, according to Societe Generale's bearish strategist Albert Edwards, who said equity markets will riot "Japan-style."
The global economy continues to show signs of slowing, yet stock markets are back near their highs for the year with analysts questioning how long this sentiment will last.
The Shanghai Composite moved off a fresh 2013 low on Thursday after HSBC's Chinese manufacturing survey revealed a drop in new export orders for the first time this year, adding to concerns about the global growth outlook.
So much for talk of a 'great rotation' out of bonds into equities, analysts say the best strategy may be bet on both assets.
The U.S. dollar pared its losses against the yen on Wednesday after the U.S. Federal Reserve said it will stick to its plan to buy $85 billion in bonds each month.
Stocks kicked off May with a big thud, with major averages dropping nearly 1 percent across the board, as a batch of weaker-than-expected economic data overshadowed the Federal Reserve's plan to maintain its stimulus program.
Crude oil dropped, extending its biggest monthly drop in 11 months in April, as fresh concerns over economic growth in China weakened the demand outlook.