Market Surge: Economic Data Fuels Stocks, Yen Rallies Amid Tokyo's Intervention Talk

Major stock indexes rose along with Treasury yields following strong U.S. economic data. Novo Nordisk's weight-loss pill approval bolstered European stocks, while silver and gold hit record highs. The yen strengthened amid potential Japanese intervention, and mixed reactions were seen in global currencies.

On Tuesday, global markets saw a slight uptick as major stock indexes rose, buoyed by stronger-than-anticipated U.S. economic data. The pan-European STOXX 600 index briefly achieved a record high, propelled by gains in the healthcare sector, notably after Novo Nordisk received U.S. approval for its weight-loss medication.

Silver soared to an unprecedented high, surpassing $70 an ounce, while gold also reached record levels. The U.S. economy outpaced expectations in the third quarter, primarily driven by robust consumer spending, with GDP increasing at an annualized rate of 4.3%, according to Reuters.

The dollar experienced mixed results against major currencies, as the Japanese yen gained strength following Tokyo's warnings of possible intervention. In the face of a possible rate pause by the Federal Reserve, markets continue to adjust to evolving economic indicators, reflecting both opportunities and challenges.

(With inputs from agencies.)