Europe’s benchmark index reached a new record high on Friday, fueled by rate-sensitive stocks that captured the attention of investors. Despite data indicating that core prices remained high, market participants continued to celebrate positive corporate earnings that contributed to the index’s surge. The pan-European STOXX 600 closed 0.6% higher, marking its sixth consecutive weekly gain.
Economy
The S&P 500 and Nasdaq saw a significant climb on Friday, largely driven by the gains made by chipmakers in the market. The tech-heavy Nasdaq came close to hitting its all-time intraday peak, thanks to a record closing high in the previous session. The surge in the index has been attributed to the AI frenzy
Brazil ended 2023 with economic growth of 2.9%, exceeding initial expectations from economists. This growth was largely attributed to the positive impact of agriculture, booming exports, a resilient job market, and welfare programs that boosted consumption. However, the fourth quarter showed a slowing trend, hinting at potential challenges that may hinder growth in 2024. Economists
The breakaway Transdniestria region of Moldova has recently reached out to Russia for assistance in withstanding economic pressure from the Moldovan government. This appeal comes after Moldova required Transdniestrian firms to pay import duties to the central budget, leading to significant economic challenges in the region. The request for help was made during a gathering
Despite central bank comments hinting at the possibility of an interest rate hike before the end of the year, property analysts are still forecasting a 5.0% rise in Australian home prices in 2024. This projection remains unchanged from the previous poll conducted three months ago. Following a 25% surge during the pandemic, average house prices
Canada recently unveiled new draft legislation aimed at combating online hate, with a specific focus on protecting children from online predators. The bill introduced by the Liberal government of Prime Minister Justin Trudeau includes provisions that would require major social media companies to swiftly remove harmful content, such as content that sexually victimizes a child
South Korea recently announced a reform plan aimed at boosting shareholder returns among listed companies in an effort to reduce the “Korea discount” on stock prices. While the move is reminiscent of Japan’s successful corporate governance reforms that led to a surge in stock prices, South Korea’s proposals have fallen short of market expectations. Under
Recent government data on Household Consumption Expenditure in India reveals a significant shift in consumer spending patterns. The report indicates that Indians are now allocating less of their budget towards essential food items such as rice and wheat, and more towards discretionary goods like processed foods, beverages, and durable items like televisions and fridges. This
Warren Buffett’s Berkshire Hathaway has announced its second consecutive record annual operating profit. The success is attributed to the insurance business segment, which saw improved underwriting and increased income from investments due to rising interest rates. Berkshire Hathaway’s net income reached a record-breaking $96.2 billion, with the stock market surge lifting the value of the
As Wall Street gears up for another trading day, there is a sense of cautious optimism in the air. After a remarkable rally fueled by Nvidia’s strong performance, investors are eager to see if the momentum can be sustained. The S&P 500 and Dow Jones Industrial Average soared to new highs, but the lingering question