Global stocks rose Thursday, lifted by data showing cooling US core inflation and a slew of robust corporate earnings.
Europe’s Stoxx 600 climbed for a third day, with luxury goods maker Richemont soaring 18% after it reported a jump in jewelry sales. The report lifted an index of European luxury stocks the most since March 2022. Tech stocks also outperformed, with ASML Holding NV up as much as 4.9%, as a strong outlook from Taiwan Semiconductor Manufacturing Co. fueled hopes of resilient AI spending.
Futures contracts for the Nasdaq 100 were up 0.3%, supported by the upbeat report from TSMC, the main chipmaker to Apple Inc. and Nvidia Corp. S&P 500 futures rose 0.2%, after the benchmark’s 1.8% rally on Wednesday, its best day since the November election. Tech shares, including Nvidia, rose in premarket trade.
The gains came after data showed US core inflation came in at 0.2%, marking the first step down in six months and reinvigorating some bets that the Federal Reserve will lower interest rates further this year. Ten-year Treasury yields, which slid 10 basis points after the data, held steady on Thursday.
