European Markets Bounce Back As Tech Selloff Subsides
European shares rebounded as the tech selloff eased, with retail stocks leading the gains. The STOXX 600 index closed at a record high, reflecting renewed investor confidence.
The Santa Claus Rally has ignited a surge in the stock market, with major indexes posting significant gains ahead of Christmas. Technology stocks, particularly Nvidia, have led the charge, reflecting investor optimism as the year comes to a close.
U.S. stock markets saw mixed results as the S&P 500 and Nasdaq approached record highs, while the Dow fell after key jobs data. Fed Chair Powell's optimistic outlook on the economy influenced market sentiment.
The stock market rallied significantly after Trump's selection of Scott Bessent as Treasury Secretary, with the Dow Jones Industrial Average soaring over 400 points. Investors are optimistic about Bessent's Wall Street experience and its potential impact on economic stability.