GLOBAL MARKETS-Stocks Head for Best Week of 2024 as Wild Summer Ride Continues

GLOBAL MARKET - LONDON. Global stocks headed for their best week since November 2023 after encouraging U.S. economic data soothed fears of a recession, in an abrupt shift from a rout last week that kept investors wary of a bumpy ride ahead.

MSCI's main world stock index hurtled towards an almost 4% gain over five trading days, recovering strongly from market turmoil last week generated by U.S. recession fears and foreign exchange gyrations.