Major U.S. indices moved higher over the past week led by technology stocks.

Factory orders were the highest in five months driven by the automotive sector where cars were manufactured at the fastest rate in 14 years.

Despite these gains, economists remain concerned over stagnant household incomes that aren’t expected to outpace inflation over the next year.

(For related reading, see: 15 Jobs That Have Increased Salary During The Recession.)

International markets followed the U.S. higher over the past week. Japan’s Nikkei 225 rose 3.62%;

Britain’s FTSE 100 rose 1.8%; and Germany’s DAX 30 rose 0.92%, as of mid-day trading on Friday afternoon. In Europe, Germany’s economy shrank for the first time in more than a year causing concern.

In Asia, concerns have grown over China’s housing market correction and overcapacity in the steel and basic materials sectors.