GLOBAL MARKETS-Wall Street, long-term Treasury yields climb on upbeat data, trade reassurances

* U.S., European PMI data beat consensus
* White House assures U.S.-China trade deal still intact
* Investors buoyed by China deal remaining live
* Stocks, oil, gold climb; dollar dips
* World FX rates in 2020 http://tmsnrt.rs/2egbfVh

(Updates to U.S. market open)
By Stephen Culp
NEW YORK, June 23 (Reuters) - Wall Street followed European
and Asian stocks higher on Tuesday and longer-term U.S. Treasury
yields gained ground after trade deal reassurances and upbeat
economic data from the United States and Europe brightened the
prospect of a swift economic recovery.
The tech-heavy Nasdaq was on course to post its
second-straight record closing high.
Economic data provided a welcome surprise to the upside with
IHS Markit's "flash" purchasing managers' index (PMI) of June
business activity in the U.S. A separate report from the U.S. Commerce Department showed
sales of new homes jumped by 16.6% in May, far better than the
2.9% consensus. Late Monday, President Donald Trump tweeted "The China Trade
Deal is fully intact," calming markets after White House adviser
Peter Navarro sparked confusion when he called the deal "over,"
due in part to lingering anger over the coronavirus outbreak.

"The confirmation from the White House that the China trade
deal remains in place gave a lot of confidence to the market,"
said Tim Ghriskey, chief investment strategist at Inverness
Counsel in New York. "The PMIs overseas were very strong and
broad. There's a lot of pent up demand, there's a lot of cash
and cash equivalents sloshing around looking for a home."
The Dow Jones Industrial Average .DJI rose 112.05 points,
or 0.43%, to 26,137.01, the S&P 500 .SPX gained 17.94 points,
or 0.58%, to 3,135.8 and the Nasdaq Composite .IXIC added
84.93 points, or 0.84%, to 10,141.41.
IHS Markit's PMI data for the Eurozone also blew past
economist projections, climbing out of contraction territory and
stoking hopes of a quick, v-shaped recovery. Calming trade jitters also helped emerging markets advance.
The pan-European STOXX 600 index .STOXX rose 0.83% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.91%.
The upbeat economic data and the U.S.-China trade deal
affirmation boosted longer-term U.S. Treasury yields, while the
closely-watched spread between 2- and 10-year yields, considered
a barometer of economic expectations, inched up to 53 basis
points. Benchmark 10-year notes US10YT=RR last fell 4/32 in price
to yield 0.7151%, from 0.704% late on Tuesday.
The 30-year bond US30YT=RR last fell 20/32 in price to
yield 1.489%, from 1.462% late on Tuesday.
The euro advanced against the dollar, jumping to a one-week
high due to strong data and U.S.-China trade deal clarity.
The dollar index .DXY fell 0.64%, with the euro EUR= up
0.64% to $1.133.
The Japanese yen strengthened 0.66% versus the greenback at
106.19 per dollar, while Sterling GBP= was last trading at
$1.2507, up 0.37% on the day.
Oil prices gained some ground on the prospect of reopening
economies sparking an uptick in demand. U.S. crude CLcv1 rose 0.17% to $40.80 per barrel and Brent
LCOcv1 was last at $43.45, up 0.86% on the day.
Gold prices inched higher as lingering concerns over a
recent spike in COVID-19 cases helped keep demand for safe-haven
assets elevated. Spot gold XAU= added 0.6% to $1,765.43 an ounce.

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Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
Global markets have recovered strongly https://tmsnrt.rs/2YqlVG9
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