Global Financial News: Global Equity Market Rally Gathers Pace

This is what you need to know before the bell:

1. European stocks are expected to close out the week with firm gains after global stocks hit another record and benchmarks in Asia traded at the higher level in at least two years.

2. The global market bullishness was underscored Thursday by both a solid assessment of the U.S. manufacturing sector that followed strong readings for factory activity in Europe and Asia.

3. The dollar index, a measure of the greenback's strength against a basket of global currencies, was marked around 0.25% from Thursday at 97.22 in anticipation of potentially faster rate hikes from the U.S. Federal Reserve if today's May employment report comes in higher than the 185,000 consensus.

4. European and Chinese leaders will gather in Brussels Friday to sign their first-ever joint agreement on trade and the prevention of global warming less than 24 hours after U.S. President Donald Trump announced America's intention to withdraw from the Paris Accord on climate change.

5. The United States will withdraw from the Paris climate agreement, President Trump confirmed on Thursday afternoon. The widely anticipated decision comes in spite of a broad push from American companies, business leaders, politicians and even many in the president's own inner circle to remain in.

Read More:

European Stocks Poised For Solid Gains as Global Markets Test Fresh Record Highs

Europe Ready to Forge New Path With China After U.S. Exit From Paris Climate Accord

U.S. to Pull Out of Paris Climate Agreement -- Here's How the Stock Market Is Reacting

This article was written by a staff member of TheStreet.