Global stock markets surged following reports of easing U.S. inflation, bolstering hopes for Federal Reserve interest rate cuts. Strong earnings from key corporations such as Richemont and Taiwan Semiconductor further fueled the rally.

Luxury sector bellwether Richemont jumped 16% after reporting a better-than-expected 10% increase in fiscal third-quarter sales, while France's LVMH, Kering and Christian Dior all rising. Retailers Moncler, Burberry, Swatch and Hermes also crowded around the top of the Stoxx index.

European stocks rose to the highest level in over a month on Thursday, lifted by the luxury and technology sectors as a double-digit jump in Richemont’s sales and an upbeat outlook by Taiwan Semiconductor Manufacturing Co.

The gains came after data showed US core inflation came in at 0.2%, marking the first step down in six months and reinvigorating some bets that the Federal Reserve will lower interest rates further this year. Ten-year Treasury yields, which slid 10 basis points after the data, held steady on Thursday.

Wall Street equities finished lower Thursday following a mixed US retail sales report, while European luxury stocks pushed higher following strong results from Cartier owner Richemont. The Paris stock market surged more than two percent after Cartier owner Richemont reported record quarterly sales.

European stocks extended gains on Friday, after having hit their highest level in a month the previous day on the back of strong

- Canada's response to US trade policies includes C$150B in retaliatory tariffs, escalating tensions. Simultaneously, there's discussion in the US about safeguarding TikTok's presence in the country, with new developments expected post-Trump's inauguration.

Donald Trump is expected to elevate Michelle Bowman, a fifth-generation community banker and current Fed governor, as the government’s most influential banking regulator.

European stock markets continued their climb, with the DAX repeatedly reaching new highs this week. Performance was driven by expectations of loosening monetary policy and strong corporate quarterly earnings.

The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how the financial system could help combat climate change

The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to move back to the upside after