Positive market outlook pushes stocks higher

On Monday European stocks advanced, tracking gains across Asian markets as trade-war concerns took a back seat to economic optimism following a report Friday of stronger U.S. jobs growth. Treasuries edged lower and the dollar pared its decline while most commodities fell.

The Stoxx Europe 600 Index rose for a sixth day, poised for the longest winning streak since October, as utility companies set the pace. U.S. equity futures joined the global rally, after gauges from Tokyo to Sydney jumped. The yen strengthened as political clouds gathered around Japan’s Finance Ministry, run by a stalwart ally of Prime Minister Shinzo Abe. Part of Abenomics focuses on weakening the yen to boost the nation’s exports.

Strong economic indicators seem to have given fresh impetus to the nine-year-old bull market in global equities, which was roiled in recent weeks as President Donald Trump raised the prospect of a full-fledged trade war. With a slew of data due from China this week as well as readings on U.S. inflation and retail sales, investors will be looking for more reasons to keep the party going.

In Japan, a deepening political scandal is putting pressure on Finance Minister Taro Aso after his ministry altered documents tied to a controversial land sale. Aso has been Abe’s deputy since he took office in December 2012, and is seen as a key backer of the Abenomics program.

The Stoxx Europe 600 Index rose 0.4 percent as of 7:01 a.m. New York time, with its sixth consecutive advance. Futures on the S&P 500 Index climbed 0.4 percent to the highest in more than five weeks. The MSCI Asia Pacific Index increased 1.7 percent on the largest climb in 16 months. The U.K.’s FTSE 100 Index rose less than 0.05 percent. The MSCI Emerging Market Index gained 1.2 percent to the highest in more than five weeks.