Investors waited for a speech from Fed Chairman Powell after the U.S. President Trump called for the introduction of negative interest rates.
China tariff waivers on some U.S imports added to hopes that the easing of virus-led business shutdowns would help jump-start a battered global economy.
The IMF signalled a possible downward revision of global economic forecasts, as more economies started to ease lockdowns enforced to curb the coronavirus outbreak.
The U.S. economy hit a historic unemployment record of 20.5 million jobs in April, the sharpest fall in payrolls since the Great Depression.
Chinese trade data proved far stronger than even bulls had imagined. The surprise rise in Chinese exports spurred hopes of an economic recovery following the coronavirus lockdown.