Global stocks posted modest gains amid healthy corporate earnings reports and an improving outlook for global economic growth. U.S. stocks hit a series of new record highs and European equities enjoyed significant inflows. A weakening dollar and rising commodities prices supported a strong rally in emerging markets.
Telecommunication services and basic materials stocks led markets higher, supported by signs of a broad-based recovery in the global economy. Information technology stocks also rallied on solid earnings growth from tech giants Apple, Facebook and Microsoft. Health care and consumer staples stocks lagged the overall market.