Market Stabilization: Wall Street Recovers, European Markets Record Growth

On Wall Street, stock indices rose on Thursday, but after unstable trading, with investor focus on the shares of tech giants Nvidia and Alphabet.

The Dow Jones strengthened by 1.06% to 43,870 points, while the S&P 500 rose by 0.53% to 5,948 points, and the Nasdaq index increased by 0.03% to 18,972 points.

Investor focus was on Nvidia’s quarterly business report. The net profit of this chip manufacturer reached $19.3 billion in the third quarter, double that of the same quarter last year. Nvidia’s revenues surged by 94% year-on-year to $35 billion. Although the results were better than analysts expected, the company’s stock was under pressure during the day, with its price down more than 2%. However, trading on Wall Street ended up 0.5%.

On the other hand, among the biggest losers was Alphabet’s stock, which fell by more than 4.5%. This was a result of the U.S. Department of Justice’s argument in court that Google must sell its Chrome browser and take other measures to eliminate its monopoly on online search.

European Markets Rise

On European exchanges, indices rose for the second consecutive day on Friday morning, mainly due to a correction in stock prices after four days of decline.

The STOXX 600 index of leading European stocks was up 0.6% at 9:30 AM, after rising 0.5% yesterday.

The London FTSE index strengthened by 0.69% to 8,205 points, while the Frankfurt DAX rose by 0.57% to 19,255 points, and the Paris CAC increased by 0.61% to 7,257 points. The indices rose, although economic news was not particularly encouraging.

This morning, it was announced that Germany’s gross domestic product grew by only 0.1% quarter-on-quarter in the last quarter, less than the initial estimate of 0.2%.

It was also reported that retail sales in the UK fell by 0.7% month-on-month in October, while analysts expected a decline of 0.3%.

On most Asian exchanges, stock prices also rose. This morning, the Nikkei index on the Tokyo Stock Exchange strengthened by 0.7%, while stock prices in Australia and South Korea rose between 0.8% and 0.9%. In Shanghai and Hong Kong, however, they fell between 1.9% and 3.1%. Chinese markets are under pressure due to investor fears that newly elected U.S. President Donald Trump will increase tariffs on imports of Chinese goods.

Additionally, a series of recent data shows that the Chinese economy continues to grow at a slowed pace, leading investors to fear that recently introduced stimulus measures will not support growth as much as initially expected.