European stocks higher, boosted by tech rebound; Volkswagen invests in Rivian

Investing.com - European stock markets rose Wednesday, buoyed by a rally in tech stocks on Wall Street overnight, although gains have been limited by weakening regional confidence and political uncertainty.

The Big Tech sector has been behind a lot of the gains on Wall Street over the last year or so, with Nvidia briefly becoming the most valuable company in the world.However, gains are limited with quarter-end caution capping significant moves. This was something of a surprise given expectations for a draw of 3 million barrels, but is largely being overlooked as traders anticipate inventory drawdowns in peak third quarter demand season.

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Volkswagen investing $5M in Illinois-based electric car company Rivian to design vehicle softwareRivian and Volkswagen Group are forming a joint venture to create vehicle software, the two companies announced Tuesday.
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Volkswagen's $5 billion investment in Rivian boosts EV maker's sharesVolkswagen's $5 billion investment in Rivian boosts EV maker's shares
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