European stocks managed to rise higher as the investors were satisfied to see the economic data of the region. Most of the European nations are doing well and their industrial production is also rising. Hence, the European markets managed to close at a higher position. The pan-European Stoxx 600 registered some gain, the food and beverages climbed 0.9%. Telecom Italia managed to rise by 6% and touched the top of the benchmark. Bed Bath & Beyond was surrounded by a retail trading frenzy and its stocks managed to rise by 12%. The investors plan future strategies after analyzing data released by several sources and also consider big retail earnings. It is also important for investors to consider macro pressure and inflation.
The shares of Uniper managed to rise by 8.7% which was a good sign. The German meal kit delivery company, Hellofresh's shares, managed to rise by more than 8% after the company declared its second-quarter earnings. The investors look for safety while dealing in stocks, and they search for portfolios that appear to be more promising. The S&P 500 managed to touch its positive week for the fourth straight time.
The US economy continues to hold a very strong position
In the US, the stocks managed to rise. Apple Inc., Tesla Inc., Nvidia Corp, Microsoft Corp also registered gains. The traders are confident that small fluctuations such as fears of inflation will fade away. The industrial output of most nations is slowly rising. The US economy appears to be in a very strong position. According to several senior financial strategists, there is a possibility of growth in the equities over the next year. The Nasdaq 100 managed to climb 0.7%, and the Dow Jones Industrial Average also managed to rise by 0.4%. The MSCI World index managed to climb 0.2%.
The oil prices continue to remain high due to geo-political factors
Due to the ongoing Russia-Ukraine war, the prices of several commodities continue to remain higher. The oil giant Aramco recorded a whopping profit of $48.4bn (Â£40bn) in the second quarter of 2022. This is one of the most impressive reported earnings of the worldâ€™s largest energy exporter. After the Russian invasion of the Ukraine, oil and gas prices have continued to remain in a very high position. Most of the Western nations depend on Russia to fulfill their energy needs. However, many Western nations have pledged that they will reduce their dependence on Russia to meet their energy needs.
Saudi Aramco has announced that it will continue to expand and satisfy the demand of the customers. It is being expected that the oil demand will continue to grow for the rest of the decade. The oil prices were already rising due to growth in demand and the Russian invasion of Ukraine has added more weight to the cost. OPEC has agreed to increase oil production.
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