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Stock Market Sees Upswing Amidst Mixed Global News

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US Stocks,Inflation,Earnings

US stocks surged this week fueled by encouraging inflation data and positive earnings reports from major banks. However, European markets faced a decline following disappointing news from Tesla's 'We, Robot' event. Meanwhile, China announced measures to support its economy and indicated a willingness to increase its budget deficit.

Jerome Powell, chairman of the US Federal Reserve, during the National Association of Business Economics annual meeting in Nashville, Tennessee, US, on Monday, Sept. 30, 2024.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeon the back of encouraging inflation data and positive earnings from big banks.

Admittedly, earnings reflect what has already happened. Investors care more about what's going to happen. But consumers are "fine and on strong footing," as JPMorgan's CFO Jeremy Barnum told reporters.

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