Global stock markets were higher on Friday and there were a number of developments over the weekend.
In terms of the US markets, the S&P 500 market index reached a new record high close, as energy stocks bounced back along with oil prices. US job growth data was also solid as nonfarm payrolls showed 211,000 jobs were created last month, after a paltry gain of 79,000 in March, and the unemployment rate dropped to 4.4%, near a 10-year low.
Over the weekend there was also market positive news from the French elections. Centrist Emmanuel Macron easily defeated his opponent Marine Le Pen (who was seen as the non-market friendly, anti-European Union candidate), with around 65% of votes. The result is important in the context of a key political risk this year being instability in the Eurozone, with elections in Germany also set to take place.
Closer to home, shares Macquarie (MQG.AX) were up +3% in a falling market as it reported better than expected full year profits...
Stock Markets, Simplified.