U.S. stocks reached new heights as solid earnings reports and resilient economic data drove optimism for the markets. The S&P 500 ticked up 0.4%, setting another record in its six-week rally, while the Dow Jones climbed 0.37%. Netflix surged 11.1% following stronger-than-expected earnings, driving the Nasdaq higher. Investors remain cautiously optimistic as corporate earnings season continues, with Morgan Stanley and United Airlines delivering upbeat reports earlier in the week.
Equities in Europe rose with the Stoxx 600 index climbing 0.21%, buoyed by optimism following the European Central Bank's decision to cut interest rates. This move signaled more support for economic growth. Luxury and semiconductor stocks also posted gains, reflecting the overall positive sentiment as investors reacted favorably to monetary policy updates.
Chinese stocks surged, with the CSI 300 jumping 3.62%, following a positive surprise in third-quarter GDP growth at 4.6%, surpassing analysts' estimates. This lifted sentiment among investors, who were anticipating further stimulus measures from the Chinese government to bolster the economy. The Hang Seng and Shanghai Composite indexes also edged higher, extending gains from earlier in the week.
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