Global Markets Rally as Tesla Leads Charge with Strong Earnings
European shares and U.S. stock futures rebounded after recent sell-offs, driven by Tesla's strong earnings. The STOXX 600 rose 0.57%, while Nasdaq futures climbed 0.73%. The dollar saw a slight decline as the euro, yen, and pound gained. Rising expectations of trade policies under Donald Trump add market tension.
European shares and U.S. stock futures rallied on Thursday, rebounding from earlier sell-offs as investor sentiment improved, partly thanks to Tesla's strong earnings report. The STOXX 600 climbed 0.57% and Britain's FTSE 100 increased by 0.78% after strong performances by Renault, Unilever, and Hermes boosted European markets.
Tesla's robust third-quarter profits and optimistic sales growth forecast of 20-30% for the coming year added fuel to the rally, lifting Nasdaq futures by 0.73%. The automaker's upbeat results were a significant factor in the improved market mood, according to Deutsche Bank's senior strategist Jim Reid.
In the foreign exchange market, the dollar saw a dip as the euro, yen, and pound strengthened. The dollar index slipped 0.23% after hitting a three-month high. Meanwhile, the bond markets experienced fluctuations with the 10-year U.S. Treasury yields falling slightly amid strong economic data causing traders to question the Federal Reserve's future rate cuts.
(With inputs from agencies.)
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