Global stocks weekly gain ahead US jobs data

Global stocks headed for their strongest weekly gain since May, driven by optimism over robust earnings and AI enthusiasm, while investors awaited the U.S. July payrolls report. MSCI's All-World index rose about 2.3-2.4% for the week, and Europe's STOXX Europe 600 gained 1.6-2%. Money markets were split on whether the United States — Federal Reserve would raise rates next month, making the jobs data crucial. Middle East tensions flared after Yemen's Iran-aligned Houthis attacked Saudi Arabia, and Iran reviewed a bill to bar hostile vessels from the Strait of Hormuz. Brent crude rose 1% to $83 a barrel but was set for a 7% weekly loss. Treasury yields were steady, the dollar held firm, and gold rose over 6% for the week to around $4,289-4,322 an ounce. Cloudflare shares surged after an upbeat forecast.