(Updates to afternoon U.S. trading)
* Wall St rises to records, spurred by Trump economy hopes
* Strong Chinese trade data lifts Europe, Asia
* U.S. Treasury yields edge up on import data
* Oil up on widespread OPEC deal compliance
By Saqib Iqbal Ahmed
NEW YORK, Feb 10 A key index of global equity
markets rose to a 20-month high on Friday, with Wall Street
shares hitting records for a second straight day, as investors
continued to bask in the afterglow of U.S. President Donald
Trump's promise of tax reform.
The dollar hovered near an 11-day high against a basket of
major rivals, as Trump and Japanese Prime Minister Shinzo Abe
opened two days of talks looking to cement a decades-old
The MSCI's world index, which tracks shares
in 46 countries, rose after evidence of Chinese growth lifted
shares in Asia and Europe.
Strength on Wall Street boosted the index further and it was
up 0.45 percent to the highest since May 2015.
Trump's promise of a "phenomenal" tax plan helped reignite a
post-election rally in stocks, which had stalled in recent weeks
on concerns over his protectionist stand and the lack of clarity
on policy reforms.
"The market is saying, 'Thank you for coming back to the
very core of the reasons we have accepted your agenda'," said
Quincy Krosby, market strategist at Prudential Financial in
Newark, New Jersey.
The Dow Jones Industrial Average rose 98.67 points,
or 0.49 percent, to 20,271.07, the S&P 500 gained 8.63
points, or 0.37 percent, to 2,316.5 and the Nasdaq Composite
added 18.36 points, or 0.32 percent, to
The ongoing corporate earnings season added to the upbeat
mood and Activision Blizzard's shares surged 18 percent
to give the biggest boost to the S&P 500 and the Nasdaq.
European shares edged higher, ending the week in positive
territory thanks to corporate earnings and robust basic
Europe's broad FTSEurofirst 300 index closed up
0.15 percent at 1,448.70.
The U.S. dollar held its recent gains against a basket of
major rivals as comments from Trump during a news conference
with the Japanese Prime Minister did little to shake optimism
that his administration would reform tax policy soon.
The dollar index, which measures the greenback
against six major rivals, was up 0.14 percent to 100.79.
In bond markets, U.S. Treasury debt yields edged higher,
boosted by solid monthly import price data as investors acted
largely on technical data.
"For whatever reason, today you could basically see the
tumbleweeds rolling through many markets," said Guy LeBas, chief
fixed income strategist at Janney Montgomery Scott LLC in
Philadelphia. "It's quiet out there."
Benchmark 10-year Treasury note yields was down
4/32 in price to yield 2.411 percent, up from a yield of 2.397,
late on Thursday.
In commodities, oil prices rose after reports that OPEC
members delivered more than 90 percent of the output cuts they
pledged in a landmark deal that took effect in January.
Brent crude settled up $1.07, or 1.92 percent, at
$56.70 a barrel, and U.S. crude settled up 86 cents, or
1.62 percent, at $53.86.
(Additional reporting by Dion Rabouin in New York and
Yashaswini Swamynathan in Bengaluru; Editing by Toby Chopra and