US equities finished higher last week, as the S&P 500 rose for an eighth consecutive week. Enthusiasm around artificial intelligence (AI) continued, with NVIDIA posting stronger-than-expected results. In Europe, equities also rose as progress towards a peace deal in the Middle East continued.

On the data front, Purchasing Managers’ Index (PMI) surveys were released in the US and Europe. In the US, manufacturing increased to 55.3, while services fell to 50.9 but remained in expansionary territory. In Europe, there were drops in both the manufacturing and services prints as the drag from increased oil prices started to weigh on Eurozone economies. In the United Kingdom, the unemployment rate for April was published, increasing…