This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
European stocks inch up
On Monday, European stocks were on the way to their most impressive profit for eight weeks because a shocking revival in China's factory data as well as signs of progress in China-US trade negotiations spurred investor sentiment on the first trading day of the second quarter.
Eventually, the European index tacked on by about 0.9%, with all key sectors inching up.
While profits spread across all regional bourses, meanwhile, Germany's trade-sensitive DAX managed to outperform, demonstrating its 1.3% leap, underpinned by a 3% rally in car shares that were braced for their best daily leap since January 4.
Additionally, Peugeot SA headed north by 3%, while Fiat Chrysler Automobiles surged by nearly 1.6% on the news that the two companies are actually exploring a partnership with the aim of sharing investments to manufacture vehicles in the European Union.
EU chip shares turned out to be another bright spot after better-than-anticipated outcomes from Apple-supplier Foxconn Industrial.
Stocks in Infineon Technologies, Dialog Semiconductor Plc, STMicroelectronics N.V., and Ams AG and Siltronic AG tacked on by 3%-5%.
The positive mood spread from Asian markets, right after both official as well as private polls revealed that factory activity in China suddenly rallied for the first time for four months in March.
China's economic data emerges on the heels of new worries over a decelerating world economy, which resurfaced in February right after the major US bank suddenly gave up its plans for policy tightening in 2019 and also signs from the bond market of an inevitable meltdown.
The economic surge in China is going to increase from here and it’s the strongest sign driving the financial markets today,
Britain’s FTSE 100 as well as the Dublin index, often considered to be a gauge for Brexit mood, tacked on by about 0.7%.
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!