Europe stocks climb as investors await Nvidia results; German business activity plunges

in his speech in Jackson Hole on Friday, or give market-moving comments that are more or less dovish than previously expected.there are new signs of a"reacceleration scenario" for the U.S. economy — with inflation remaining high and the economy strengthening — that could could make the case for further interest rate hikes. Retail sales and consumer confidence both remain resilient in the U.S.

"If history rhymes, which it often does, we're going to see them keep up the hawkish rhetoric, say that they're not done yet and definitely leave room open for further rate hikes on a data-dependent basis."New Ford Fiesta automobiles in a lot at the Ford Motor plant in Cologne, Germany, in February 2023.

"Any hope that the service sector might rescue the German economy has evaporated. Instead, the service sector is about to join the recession in manufacturing, which looks to have started in the second quarter," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. CNBC Pro: These 2 'secular' growth stocks are likely to keep rising despite rate hikes, fund managers say

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