Economics
Global Stocks Rise for Week to Records Amid Fed Support
This article is for subscribers only.
Confidence that central bank policies will spur economic growth and a valuation call by Federal Reserve Chair Janet Yellen sent global equities rallying for the week, with benchmark indexes in the U.S. and Canada climbing to all-time highs.
About $380 billion was added to global equities during the week. FedEx Corp. jumped 5.6 percent as it predicted a pickup in economic growth. E*Trade Financial Corp. climbed 5.3 percent as the Nasdaq Composite Index recovered all its losses from a two-month selloff. Covidien Plc rose 25 percent amid a spate of cross-border deal activity.