Global stocks rose modestly amid solid corporate earnings reports and ongoing central bank stimulus measures. Gains were tempered by signs of slowing economic growth in the U.S., Europe and Japan, as well as worries about rising U.S.-China trade tensions. A resurgent U.S. dollar and higher interest rates weighed on emerging markets.
Defensive stocks generally outpaced cyclical sectors, led by strong gains by energy companies. Higher oil prices boosted shares of Chevron, BP and Royal Dutch Shell. Consumer discretionary and telecommunication services stocks also moved higher. Meanwhile, consumer staples stocks fell and industrials lagged the overall market.