European stocks and Wall Street futures surged on Thursday, with a flurry of US macroeconomic data and corporate earnings further demonstrating the health of the world’s biggest economy.
The regional Stox Europe 600 was up 0.4% and London’s FTSE 100 was up 0.1%, while the German Dax held steady.
Contracts tracking the Wall Street benchmark S&P 500 and the technology-heavy Nasdaq 100 were up 0.2% and 0.6% respectively ahead of the New York opening.
mute goes on stock market Tesla’s shares were announced after gaining more than 5% in after-hours trading on the group’s fourth-quarter results. The electric vehicle company reported record sales of $24.3 billion for the period. That was a 37% increase from last year and more than analysts expected of $24.2 billion. Net income was $3.7 billion, just above his $3.6 billion forecast.
Payments groups Visa and Mastercard and private equity firm Blackstone will report results later on Thursday. US Gross Domestic Product data, first unemployment claims and new home sales will also be released later in the day.
According to Rabobank analysts, investors face two “key challenges”. Will the US go into recession?
“The central bank maintains the view that the risk of triggering a recession by tightening too much is far less costly than inadvertently letting the inflationary magic escape the bottle by doing nothing,” Rabobank said. rice field. “Risk assets will come under pressure as the market eventually sees that policymakers are keen to ensure that financial conditions do not challenge efforts to curb demand.”
Other regions are expected to do better. Mark Häfele, chief investment officer at UBS Global Wealth Management, said: “Evidence of slowing growth in the US continues to mount, while the eurozone is more resilient and the outlook for China continues to improve. “We believe this divergence will favor emerging markets and German equities, as well as commodities.”
The price of international oil benchmark Brent crude has risen steadily this year, rising 0.9% to $86.90 a barrel on Thursday. The US and German bond markets were strong, but the dollar rose 0.2% against his basket of six other currencies.
In Asia, Hong Kong’s Hang Seng Index rose 2.4% while Japan’s Nikkei 225 fell 0.1%.
https://www.ft.com/content/38785227-bfcb-4558-b53e-261114a847f6 European stocks rise in crucial week for corporate earnings