Markets rise, US economy “ready to rip”

Markets rose on Friday.

The S&P 500 rose 0.4 percent to a record high, the STOXX Europe 600 rose 0.9 percent and the Shanghai Composite rose 0.8 percent.

Economic data on Friday showed that economies are recovering.

China reported that its gross domestic product surged 18.3 percent in the first three months of the year from a year ago.

The University of Michigan reported that its preliminary US consumer sentiment index rose to a one-year high of 86.5 in April from 84.9 in March.

Federal Reserve Governor Christopher Waller said the US economy “is ready to rip”.