Global Stocks

Global Stocks

European stocks edged mostly higher Friday, with upbeat economic data helping the market to move past weakness stemming from the latest round of tensions between North Korea and the U.S. The Stoxx Europe 600 index SXXP, +0.09% closed up by a slight 0.1% at 383.22, keeping intact a 0.7% weekly advance. The pan-European index on Thursday ended higher, boosted by bank stocks after hints from the U.S. Federal Reserve that more rate hikes are coming this year and next.

U.S. stocks bounced late in the session, paring early losses and ending little changed on Friday as investors shook off the latest bellicosities between North Korean and U.S. leaders. The S&P 500 SPX, +0.06% closed 1.62 points higher at 2,502.22, posting a weekly gain of less than 0.1%. Of the 11 main sectors, six finished in positive territory. Health-care shares rebounded to erase earlier declines and finish slightly higher after Republican Sen. John McCain announced he wouldn't sign the latest health-care bill to repeal the Affordable Care Act. Telecoms shares were the best performers, gaining 1.4%.

Asia-Pacific markets shrugged off weekend election results in Germany and New Zealand, as stocks in Australia and Japan rose on local drivers. In Germany, incumbent Chancellor Angela Merkel's party lost more seats than expected, including some to the anti-immigration Alternative for Germany, which became the first far-right party to enter the Bundestag since World War II. But Merkel will continue to lead the government.