World stocks hit an all-time high on Thursday as the latest round of robust global data matched hopes that major economies like the United States will soon be serving up large helpings of fiscal stimulus.
U.S. retail sales rose more than expected in January as households bought electronics and a range of other goods, pointing to sustained domestic demand that should bolster economic growth in the first quarter.
World stocks rose to a whisker off all-time highs on Wednesday and the dollar rose for the 11th straight day following Federal Reserve Chair Janet Yellen's flagging of a possible interest rate rise next month.
The dollar chalked up its 11th straight daily rise on Wednesday, as investors' focus moved to inflation data in the United States for more support for the idea of a rise in Federal Reserve interest rates next month.
U.S. producer prices rose more than expected in January, recording their largest gain in more than four years amid increases in the cost of energy products and some services, but a strong dollar continued to keep underlying inflation tame.
The European Central Bank will not tighten policy to counter surging inflation as the rise is temporary and due almost entirely to rising oil prices, ECB President Mario Draghi said on Monday, brushing aside calls for the ECB to reduce stimulus.