Global Markets React: Asian and European Stocks Rise Despite Economic Uncertainties
European stocks rose as luxury retailer LVMH reported a 10% increase in fourth-quarter sales, boosting the Stoxx 600 index, while US equity futures signaled a halt to recent gains. The rally has been fueled by falling inflation and the possibility of a Fed rate cut in 2024. Asian stocks snapped a six-day winning run as optimism over China’s rescue measures faded, with Morgan Stanley cutting its targets for major Chinese stock indexes. In corporate news, Volvo AB is reducing production, Intel Corp. tumbled after a disappointing forecast, and tech giants like Alphabet, Amazon, and Microsoft are under scrutiny from the US Federal Trade Commission.