A rally in oil and optimism at the mall buoyed U.S. stocks to a record on Friday, with the index rising 0.2%, at the traditional start of the American holiday shopping season.
The S&P 500 currently has achieved a 1.5% total return for November so far. If the index ends November in positive territory it will mark its 13th successive positive total return month, a new record.
Oil gained 0.5% on Friday as OPEC and Russia are said to agree on a framework to extend oil cuts.
Economic reports from the U.S., China, Japan and India this week will allow investors to assess progress for global growth. Equities markets trading at record levels reflect money managers’ enthusiasm for an earnings expansion as economies grow.
Stocks in Europe gained 0.3% as Germany moved closer to ending a political impasse and business confidence in the region’s biggest economy improved.
Germany’s biggest opposition party said it’s open to talks on backing a government led by Chancellor Angela Merkel, offering a way to restore political stability to Europe’s biggest economy. In Germany, the latest Emnid survey show 52% of Germans believe Ms Merkel’s CDU/CSU and SPD should form a coalition Government, but 39% oppose a grand coalition.
Focusing on Brexit talks, the Scottish Conservative Party leader Ms Davidson has warned time is running out as “if we don’t make it through in the next two weeks, to move to that next phase (on trade and transitional deal)….(then) it’s a setback”.
In Asia overnight, Chinese equities resumed their decline, falling 0.9%, while Japanese shares ended lower declining 0.2%.