Wall Street rose at the opening bell on Thursday, after strong earnings from AI chipmaker TSMC and banks Goldman Sachs and Morgan Stanley signalled a recovery from back-to-back losses, while the FTSE 100 (^FTSE) hit a new all-time high of 10,236 points, adding to its gains since it broke through the 10,000-point mark at the start of this year.
The mood marks a reversal after tech led stocks lower on Wednesday, which dragged on indexes and promised to revive a weeks-long rotation out of megacaps into value names.
However, European stocks were mostly lower as the UK economy beat forecasts and grew by 0.3% in November thanks to car production rebounding and a boost from the services sector.
According to the Office For National Statistics (ONS), the figures were helped by the return to production at Jaguar Land Rover’s facilities after a cyber-attack at the carmaker.
Read…
