The S&P 500 nudged higher as U.S. equity markets fought to maintain the momentum from a record-breaking rally in tech shares. The euro gained for a fourth day.

The Stoxx Europe 600 Index gave up its advance as the euro strengthened again and after disappointing data on euro-area exports and German factory orders. The common currency was up for a fourth straight day amid talk of an end to the European Central Bank’s quantitative easing program. Earlier, shares rose from Tokyo to Sydney in the wake of another record finish for the Nasdaq, but gains in the gauge stalled on Thursday. The U.S. dollar slipped, while the Turkish lira jumped after the central bank raised interest rates by more than expected.

After weeks in the doldrums, equities have managed to regain some swagger in recent days. The global expansion narrative remains intact, Treasury yields are holding below the psychological barrier of 3 per cent, and U.S. technology shares -- the drivers of past rallies -- have been notching successive records. Investors will now be watching the G7 meeting this week for clues on the trade outlook, as well as this month’s meetings of both the Federal Reserve and the European Central Bank to gauge the path of interest rates.

“If you think of where we were relative to the start of the year, we’ve seen quite a lot of de-risking, particularly from systematic strategies, which paves the way for equities to do well in the second half,” Grace Peters, European equities strategist at JPMorgan Private Bank, told Bloomberg TV.

Elsewhere, Italy’s bonds snapped a two-day losing streak while the pound fluctuated as U.K. Prime Minister Theresa May held crisis talks with her ministers over Brexit. West Texas oil climbed after a slide on Wednesday.

Meanwhile, ruptures in emerging-market assets keep appearing, with Brazil’s real weakening for a third day. Allianz SE’s chief economic adviser Mohamed El-Erian warned that the nation may be the next emerging-market domino to fall after Turkey and Argentina.

These are some key events to watch this week:

On Thursday, Japanese Prime Minister Shinzo Abe meets with U.S. President Trump at the White House to discuss the planned U.S. summit with North Korea’s Kim Jong Un. G7 Leaders’ Summit starts in Quebec Friday through to June 9.

These are the main moves in markets:

Stocks

The S&P 500 Index increased 0.1 per cent, the Dow Jones Industrial Average gained 0.3 per cent and the Nasdaq Composite Index was little changed as of 9:35 a.m. in New York. The U.K.’s FTSE 100 Index gained 0.2 per cent. The MSCI Emerging Market Index increased 0.2 per cent. Japan’s Nikkei 225 Stock Average gained for a fourth day, increasing 0.9 per cent.

Currencies

The Bloomberg Dollar Spot Index slumped 0.1 per cent. The euro rose 0.4 per cent to $1.1825. The British pound weakened 0.1 per cent to $1.3402. The Japanese yen strengthened 0.2 per cent to 110 per dollar.

Bonds

The yield on 10-year Treasuries were little changed at 2.98 per cent. Italian 10-year yields fell one basis point to 2.93 per cent.

Commodities

West Texas Intermediate  crude gained 0.8 per cent to US$65.24 a barrel. Gold rose 0.2 per cent to $1,298.68 an ounce.