US stocks posted their best week since February driven by economic news and an infrastructure plan agreement. The S&P 500 jumped 2.7%, while the Dow surged 3.4% for the week. Abroad, the FTSE All World Ex US was gained 2.1% for the week. The yield on the 10-year Treasury rose to 1.51%, increasing for the first time in six weeks.
The President and a group of Senators reached a $1 trillion infrastructure plan after weeks of negotiations.
In prepared testimony before congress Fed Chief Powell said he expected job growth to improve in the coming months and inflation pressures should ease.
US home prices rose 24% from a year earlier in May, their largest ever annual increase since the data was recorded in 1999.
Weekly unemployment claims were 411,000 down slightly from the week before.
Consumers spending rose 0.7% in May and April was revised up to 0.9% from 0.5% as consumers opened their wallets.
Eurozone business activity is growing at the fastest pace in 15 years.