Elon Musk\u0027s EV maker beats profit and sales expectations. Find out more
In Europe too, results from telecoms group Nokia Oyj and chipmaker STMicroelectronics NV were applauded by investors, helping to lift the Stoxx 600 index by half a percent.
Thompson sees the January stock surge as overdone, given recession risks ahead, but did not discount further short-term gains because “if you do get a 5 per cent pullback, people who missed the rally may think ‘shall we just bite the bullet now rather than wait for another 5 per cent fall?” Soft-landing bets for the U.S. economy and expectations the Federal Reserve is nearing the end of its rate-hiking cycle have lifted stock markets and put the dollar on course for its worst monthly performance since last May. On Thursday, it held around flat against its Group-of-10 peers as investors awaited economic growth and jobs data as well as a core price index that could determine the Fed’s policy path.
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