- U.S. equities rose to the highest in almost a month as investors set aside concern about escalating trade tensions and rising political tension abroad to focus on the coming earnings season.
- The dollar gained versus major peers and Treasuries retreated.
- The start of earnings season this week may divert some attention away from the trade tensions that have kept global stocks under pressure, while economic data out Friday supported sentiment. The U.S. jobs report showed another month of gains in excess of 200,000, while German industrial production beat all estimates for May.
- European equities advanced 0.3% as investors’ attention shifted from rising trade protectionism to the ongoing earnings season. European shares are showing tentative signs of a recovery, with economic data picking up and cheap valuations drawing some investors back in.
- The move in the index marked a fifth consecutive advance, the longest winning streak since March lead by gains in miners and energy producers.
- The pound erased gains after pro-Brexit official Boris Johnson quit as U.K. foreign secretary throwing the U.K. government into turmoil over negotiations to leave the European Union.
- Asian stocks rose for a third session, set for their longest winning streak in almost two months, as investors looked past the start of a U.S.-China trade war to focus on the upcoming earnings results. Chinese equities gained 0.4% while Japanese equities gained 0.7%.