Fed Rate-Cut Bets & Earnings Boost Causes Stocks Rise – Europe Market Wrap

Global markets climbed on Thursday, boosted by data showing slowing US core inflation and a wave of strong corporate profits.

Europe’s Stoxx 600 rose for the third day in a row. ASML rose as much as 4.9% as a positive outlook from TSMC fuelled optimism of continued spending on AI.

Nasdaq 100 futures contracts were up 0.5%, boosted by an upbeat report from TSMC, the key chipmaker for Apple and Nvidia. S&P 500 futures jumped 0.3% following the benchmark’s 1.8% gain on Wednesday, its highest day since the November election. In premarket trading, tech shares such as Nvidia gained.

In currency markets, the Dollar index rose, snapping a two-day losing trend. The latest sluggish growth figures from Britain highlighted the gap between the US economy and its rivals in the developed world, sending the Pound down versus the Dollar. However, the Yen strengthened following reports that BoJ officials believe there is a substantial possibility of raising interest rates next week.

02:00 ET UK GDP Estimate MoM Actual 0.1% (Forecast 0.2%, Previous -0.1%) [GBP weakened]