Global equities advanced on strong corporate earnings and solid U.S. economic growth. U.S. stocks rose to new record highs, supported by a long-running rally in the technology sector. Outside the U.S., markets were generally flat to down amid investor worries over deteriorating global trade relations and a strengthening dollar.
Economically sensitive stocks outpaced defensive stocks, boosted by large gains in the technology sector. Apple shares moved sharply higher as the iPhone maker became the first company in the world to reach $1 trillion in market capitalization. Stocks in the energy and materials sectors declined, pressured by an uncertain trade environment.