The S&P 500 and Dow Jones Industrial Average notched new records on Friday, adding to a six-week winning streak for Wall Street.
US: Netflix earnings and positive economic data fuel market optimism
U.S. stocks reached new heights as solid earnings reports and resilient economic data drove optimism for the markets. The S&P 500 ticked up 0.4%, setting another record in its six-week rally, while the Dow Jones climbed 0.37%. Netflix surged 11.1% following stronger-than-expected earnings, driving the Nasdaq higher. Investors remain cautiously optimistic as corporate earnings season continues, with Morgan Stanley and United Airlines delivering upbeat reports earlier in the week.
Europe: Equities rise after ECB rate cut signals
European stocks climbed, with the Stoxx 600 index up 0.21%, buoyed by optimism following the European Central Bank’s decision Thursday to cut interest rates, a move that signaled more support for economic growth. Luxury and semiconductor stocks also posted gains.
China: Economic growth surprises, driving stocks higher
Chinese stocks surged, with the CSI 300 jumping 3.62%, following a positive surprise in third-quarter GDP growth at 4.6%, surpassing analysts’ estimates. This lifted sentiment, as investors continue to anticipate further stimulus measures from the Chinese government to bolster the economy. The Hang Seng and Shanghai Composite indexes also edged higher, extending gains from earlier in the week.
Japan: Semiconductor slide stabilizes as market remains calm
Japan’s Nikkei 225 closed slightly up, gaining 0.18%, as the semiconductor sector stabilized after ASML’s warning of weak demand outside AI. The market remained calm following turbulent trading earlier this week, with investors taking a wait-and-see approach as global tech earnings continue to unfold.
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