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World Stocks Hit Record High, Powered by Wall Street

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Global stocks hit record highs on Friday, as tech shares on Wall Street cheered receding U.S. inflation fears, with the lack of inflation pressure keeping bond yields near twoweek lows.

Federal Reserve Chair Jerome Powell reiterated late on Thursday that inflation was not a worry, following data showing an unexpected rise in the number of Americans filing new claims for unemployment benefits.

MSCIs broadest gauge of world stocks set a record high in Asian trading, though it was down 0.1 at 0755 GMT. The index has gained more than 1.5 this week.

As long as monetary stimulus is easy, as long as fiscal policy is easy, any hiccups in stocks are probably only going to find buyers, said Giles Coghlan, chief currency analyst at HYCM.

Emini futures were steady after the SP 500 rose 0.42 to a record high, and the Nasdaq Composite added 1.03.

Britains FTSE 100 hit its highest in more than a year, bringing gains for the week to nearly 3, helped by the countrys speedy vaccine rollout. .L

German stocks dipped 0.22.

Powell signalled at an IMF event that the central bank was nowhere near reducing support for the U.S. economy, saying that while economic reopening could result in higher prices temporarily, it will not constitute inflation.

Deutsche Bank analysts said the comments offered fresh reassurance to investors whod begun to price in earlier rate increases on the back of some very strong economic data in recent weeks.

Traders piled into megacap tech stocks such as Apple…

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