Global stocks advanced amid accelerating economic growth in the U.S. and Europe, coupled with signs of diminishing political risk in the euro zone. Investor sentiment improved markedly as political newcomer Emmanuel Macron defeated Marine Le Pen in the French presidential election, largely erasing concerns that France may attempt to leave the European Union.
Health care stocks experienced strong returns as the U.S. Senate proposed a new industry-friendly plan to reform the nation’s health care system. Emerging markets also rallied amid improving global economic data and a weaker dollar. Energy stocks declined sharply, hurt by persistent oversupply concerns that continued to drive oil prices lower.
Equity Index Returns (%)