GLOBAL MARKETS-Stocks advance, dollar gains as tech shines through macro clouds

Business news

Strong earnings from U.S. technology firms drove Wall Street higher but shares in Europe slid on Friday on doubts about the economic recovery from the coronavirus pandemic, while the dollar rose but still posted its worst month in a decade. The dollar has been weakening amid expectations the U.S. Federal Reserve will be forced to maintain its ultra-loose monetary policy for years, a policy seen as debasing the currency. Apple Inc shares surged to a record closing high of $425, a gain of 10.5% on the day, after blowout quarterly results on Thursday and a four-for-one stock split announcement.


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