Global stock indices finished the week on a high on positive consumer sentiment and bank earnings, says Axel Rudolph, Senior Market Analyst at online trading platform IG.
Softer U.S. inflation pushes stocks higher
“Stocks finished the week on a high as softer U.S. consumer and producer price inflation increased hopes for a soft landing and bolstered risk appetite. Friday's University of Michigan consumer sentiment, the highest in nearly two years, and better-than-expected earnings by the likes of JPMorgan Chase, Wells Fargo and UnitedHealth propped up stock indices."
EU natural gas futures set for a 15% weekly drop
“This week's strong depreciation in the U.S. dollar helped commodities such as gold and silver rally but natural gas prices in Europe are set for a 15% weekly drop due to ample storage, increased supply from top exporter Norway and muted demand."
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