Stocks rise, dollar mixed after recent US data
NEW YORK (REUTERS) - Global equity markets rose and the dollar traded mixed on Friday as investors warmed to recent data that has underpinned hopes for sustained US economic strengthening even as new data showed home resales fell to an 18 month-low last month.
Cold weather and a lack of housing stock sidelined potential home buyers in January, the National Association of Realtors said on Friday, in the latest report indicating that severe winter weather has dragged on economic growth.
Home sales dropped 5.1 per cent to an annual rate of 4.62 million units, the lowest level since July 2012, the trade group said. Economists polled by Reuters had expected sales to fall to a 4.68 million pace last month.
Major equity indexes in Europe and across the Americas rose, with a measure of global equity activity, MSCI's all-country world index, rising 0.51 per cent.