European equities finished Friday on a strong note, with broad-based gains across the major indices as traders headed into the weekend. Sentiment was boosted by a better-than-expected round of S&P Global flash PMI data, which pointed to improving business activity across much of Europe. Germany led the way, with manufacturing accelerating to 52.2 from an expected 50.4, while services also edged higher to 49.6. Across the eurozone, manufacturing rose to 52.0 (vs. 51.5 expected) and services climbed to 51.6 (vs. 49.8 expected), signaling a broader pickup in economic momentum. The UK also surprised to the upside, with manufacturing at 52.8 and services at 51.8, both beating forecasts. France was the lone soft spot, where manufacturing remained at the neutral level at 50.0, but services remained in contraction at 49.8 (although it was higher than forecast at 47.5). Lower oil prices and hopes that diplomatic efforts could help reduce tensions in the Middle East also supported risk appetite, encouraging buyers to remain in control throughout the session.Friday's close shows:Germany's DAX:+1.36%France's CAC 40:+0.88%UK's FTSE 100:+0.91%Spain's IBEX 35:+1.65%Italy's FTSE MIB:+0.95%For the trading week, with the exception of Italy, the major indices moved higher led by Spain. Spain's IBEX 35:+1.92%UK's FTSE 100:+1.28%Germany's DAX:+1.08%France's CAC 40:+0.40%Italy's FTSE MIB:-0.15%The encouraging PMI data, easing energy prices, and improving geopolitical sentiment helped European stocks finish the week on a constructive note. Investors will now turn their attention to next week's economic releases, central bank expectations, and developments in the Middle East for the next market-moving catalyst. As London/European traders exit for the day, US stocks are also rebounding, and trading back in positive territory after a weaker opening for the broader indices: Dow industrial average is up 349 points or 0.68% at 52068.22. At session lows, the index was down -29.99 pointsS&P index is up 46.86 points or 0.63% at 7454.59. At session lows the index was down -10.72 points.NASDAQ index is up 50 points or 0.20% at 25189. At session lows, the index was down -219.60 pointsUS yields are lower today after rising for most of the week which also is helping the risk on bias:2 year yield 4.311%, -4.8 basis points.5 year yield 4.405%, -5.5 basis points10 year yield 4.654%, -4.8 basis points.30 year yield, 5.139%, -3.1 basis points. Looking at other markets: Crude oil is trading down $-3.70 at $88.50. The price is back below its 100 day moving average at $89.89.Gold is trading higher by $25.58 in reaction to the lower yields. That's up 0.64% at $4074.48.Silver is also higher by $1.18 or 2.04% at $58.78.Bitcoin is trading down $1054 and $64,055.There are recent reports from Axios that the US and the UK (with the new PM Burnham) are planning to convene a high level meeting in London next week that will focus on a potential international coalition to protect maritime shipping in the Strait of Hormuz. This article was written by Greg Michalowski at investinglive.com.