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US stocks trending higher as data signals fresh acceleration in world economy
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U.S. equity futures were trading tentatively higher after a record close last Thursday. Driving the market surge, investors say, was data signaling a fresh acceleration in the world economy, as well as optimism over the prospect of additional fiscal stimulus.
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On Friday, Wall Street’s S&P 500 index turned in its biggest weekly gain in four months.
Investors have been encouraged by progress in Washington on an infrastructure spending plan. Markets have recovered from the Federal Reserve’s announcement that it might start raising interest rates sooner than expected.
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The S&P’s gain "is generally telling of improving sentiment," said Mizuho Bank in a report.
Markets have swung between optimism about economic recovery supported by the rollout of coronavirus vaccines and unease that the Fed and other central banks might feel pressure to pull back stimulus to cool rising inflation.