Global stocks rose after new signs that the US economy is recovering from the coronavirus pandemic helped propel Wall Street shares higher.

US stocks rallied to within a few points of a new high and Treasuries sold off on Wednesday after improving economic data and rising hopes over a potential coronavirus vaccine.

The US stock market tumbled into the red in the last hour of trading on Tuesday after the Republican leader in the Senate said there had been no talks on a new economic stimulus package since Friday, denting hopes for an imminent deal.

The US secret service shot a person outside the White House, President Donald Trump said, shortly after he was abruptly pulled out of a press briefing.

Gains for global stocks were held back on Monday as escalating tension between China and the US weighed against hopes of further economic stimulus.

The US dollar rebounded from a multi-month rout, after key jobs data signalled the labour market in the world’s largest economy was doing slightly better than investors had feared.

Technology stocks helped to lift US markets on Thursday ahead of Friday’s non-farm payrolls report for July.

Gold pressed further higher on Wednesday after breaking the $2,000 milestone and global stocks rose as upbeat data from Europe counterbalanced a less optimistic report from the US labour market.

Gold surged above $2,000 an ounce and benchmark bond yields slid to record lows as weak corporate results generated further concerns over the strength of an economic recovery.

Stocks in the US and Europe started the week on an optimistic note as the return of dealmaking boosted sentiment and there were more signs that the corporate earnings season was not as bleak as forecast.

The US dollar has tumbled the most in a decade this month, propelling sterling and the euro higher amid questions over the recovery of the world’s biggest economy and growing political uncertainty.

Stock and crude oil markets dropped on Thursday after data laid bare the enormous damage the coronavirus pandemic has wrought on the US and German economies, and raised fears that a recovery may be stalling.

The dollar weakened against the euro and pound on Wednesday, sending sterling above $1.30 for the first time since March, after the Federal Reserve ramped up emergency measures to boost dollar liquidity.

The price of gold came within striking distance of hitting $2,000 for the first time on Tuesday but its rally lost momentum as the dollar’s sell-off eased and traders turned their attention to the upcoming US central bank meeting.

The dollar weakened to a two-year low on Monday as sharp increases in US coronavirus cases and flare-ups around the world weighed on investor confidence.

Stocks on big global markets slid on Friday, as a week of heightened tensions between the US and China and a disappointing outlook from chipmaker Intel sent investors to haven assets.

US stocks suffered their biggest declines in nearly four weeks on Thursday, after data showed the first weekly rise in new unemployment claims in almost four months.

US stocks staged a late rally on Wednesday as investors took heart from better than expected domestic corporate earnings, shaking off rising diplomatic tensions between America and China.

US and European stocks rose on Tuesday after EU leaders struck an agreement for a €750bn pandemic recovery fund and a top Republican in the Senate signalled a willingness to approve additional stimulus.

US and European stocks advanced on Monday as investors gauged upbeat developments in a vaccine trial and the latest in negotiations for additional fiscal support amid fallout from the pandemic.

US stocks closed higher for a third straight week, reversing earlier losses on Friday as investors waited for progress on new rounds of economic stimulus in Europe and the US.

US and European stocks followed Asia’s bourses lower on Thursday after China’s CSI 300 index recorded its worst day since February.

Global stocks advanced on Wednesday as encouraging reports on vaccine trials and hopes of further stimulus for pandemic-hit economies bolstered investor confidence.

Wall Street stocks gained on Tuesday as hopes of more stimulus measures helped counter a mixed start to quarterly earnings season by the biggest US banks.

An advance on Wall Street that had sent stocks to a five-week intraday high on Monday was cut short in a volatile trading session ahead of quarterly results that will offer investors insight into the effects of the coronavirus crisis on the fortunes of corporate America.