Wall Street opened the week slightly higher, led by gains in energy stocks, while the U.S. dollar posted its strongest performance in over two months, as markets reacted to the U.S.-EU trade deal struck over the weekend.
During the pandemic-fueled boom of 2020, Cathie Wood's Ark Innovation ETF (NYSE:ARKK) was one of the hottest funds on Wall Street, surging nearly 400% off its March 2020 lows. But that euphoria peaked in February 2021.
Wall Street looked set to close the week on a high note, with large-cap benchmarks pushing higher in Friday's midday trading as optimism over corporate earnings and progress on global trade talks provided support for risk assets.
A wave of U.S. trade deals with key allies over the past 24 hours reignited Wall Street's rally and boosted investor risk appetite across global markets.
