Markets rose on Friday.
The S&P 500 surged 2.6 percent, the STOXX Europe 600 jumped 2.5 percent and the Nikkei 225 rose 0.7 percent.
US and European stocks were boosted by a report that showed that US employment rose by 2.5 million in May.
“Ultimately, this report provides additional confirmation for risk asset investors who are betting on a faster recovery of the economy.,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.
“One month does not make a trend, but the sharp turn in May justifies a bit more optimism about the near-term outlook,” said Jim Baird, chief investment officer at Plante Moran.
“These rallies can become self-sustaining as more investors rush in through fear of missing out,” said Lewis Grant, a senior portfolio manager at Federated Hermes.
Oil prices also surged, with news that major oil producers will convene Saturday to discuss plans for extended productions cuts adding to the boost from the US employment report.
West Texas Intermediate crude jumped 5.7 percent while Brent surged 5.8 percent.
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