From Investing.com: 2024-03-28 03:04:00

European stocks hit record highs on Wednesday, aided by late-session gains. This was partly due to end-of-quarter portfolio rebalancing, with laggards like Apple gaining and stars like Microsoft retreating. Nvidia fell 2.5%. As pension funds prepare to sell $32bn in equities, market rally may slow, but overall cash inflow continues. Investors hope for a June Fed rate cut, with odds at 64%. However, US GDP growth remains strong at over 3%, possibly delaying rate cuts. Uncertainty persists in markets due to potential dollar strength and stock market shifts in Q2.

Eurozone economies face challenges from interest rates and energy crisis. Germany’s growth outlook is bleak, with only a 0.1% rise expected. ECB may cut rates in June, but inflation targets must be met for further cuts. Recent inflation data from Spain shows improvement but reaching 2% target is uncertain. Euro holds around 1.08 against USD as ECB fights inflation. Sumo fight between Japanese officials and yen bears continues, with intervention threats slowing yen selloff. Policy tightening signals more impactful than intervention threats.



Read more at Investing.com: Market Recap: European Stocks Surge, US Dollar Rises, S&P 500 Gets Late Boost