European Stocks Surge as Tensions Ease Over Fed Chief Speculation
European stocks rebounded after a solid earnings report and reduced tensions over the Fed chief. Key players included ABB, TSMC, and Netflix. The dollar strengthened after President Trump dispelled rumors about ousting Jerome Powell. Market focus remained on currency developments and potential economic impacts of tariffs.
European stocks surged on Thursday, buoyed by optimistic earnings reports and reassurances from President Donald Trump regarding the Federal Reserve leadership.
Swiss engineering firm ABB and Taiwanese semiconductor giant TSMC reported record earnings, injecting positivity into the market. Meanwhile, a potential EU-US trade deal further fueled investor confidence. The dollar also strengthened after Trump dispelled rumors of firing Fed Chair Jerome Powell.
Overnight market movements saw Japan's yen weaken, influenced by election polls, while Australia's dollar dipped on disappointing employment data. Investors remained watchful of upcoming earnings from major firms like Netflix, General Electric, and PepsiCo. Brent oil prices ticked upward, while gold saw a slight decline.
(With inputs from agencies.)
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