European stocks rose as US stocks rebounded yesterday and fears of a US recession eased after positive labour market data.
Markets are awaiting data due next week on inflation and retail sales in the United States, as investors hope for signs of a soft landing in the economy.
“Market volatility may remain elevated for some time, but investors should not overreact to swings in market sentiment,” said Mark Haefele, chief investment officer of global wealth management at UBS.
“With continued strength in economic fundamentals, earnings indicators and the possibility of a Fed rate cut, our base case scenario remains for the S&P 500 to end the year at around 5,900,” Havel added.
In terms of trading, the Stoxx Europe 600 index rose by 0.7% by 09:29 GMT.
The German DAX index rose by 0.16%, while the French CAC rose by 0.31%, and the British FTSE increased by 0.36%.
In yesterday’s trading, US indices recorded positive performance, as the Standard & Poor’s 500 index rose to its best performance since 2022.
Source: Bloomberg
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2024-08-10 23:00:44
