US and European stock markets advanced Friday as traders shrugged off disappointment over China’s latest boosts to its beleaguered economy and reacted to political and business developments.
Wall Street stocks opened higher, rebounding from losses following concerning inflation data.
Shares in semiconductor manufacturer Broadcom jumped more than 19 percent on AI growth prospects and upscale home furnishing retailer RH around 16 percent on an improving demand outlook.
“That is a nice combination for market participants to contemplate, as it has positive connotations for enterprise spending and consumer spending,” said Briefing.com analyst Patrick O’Hare.
Investors were also looking ahead to the US Federal Reserve’s meeting next week, when it is tipped to cut borrowing costs for the third time.
“While the markets still anticipate a rate cut from the Federal Reserve next week, the likelihood of a move in January has dropped,” said Patrick Munnelly, partner at broker Tickmill Group.
There …