NEW YORK, USA – A gauge of global stock markets rose for a fifth straight session while the euro edged up in choppy trading after the European Central Bank The ECB had for weeks flagged a 25-basis-point hike, until earlier this week, when sources told Reuters the central bank was weighing a bigger move. The central bank also introduced a bond protection plan, called the Transmission Protection Instrument , that is designed to cap borrowing costs across the region.
As the US corporate earnings season rolls along, 91 companies in the benchmark S&P 500 index have reported quarterly results, with 78% topping expectations, according to Refinitiv data. That’s slightly below the 81% beat rate for the past four quarters but well above the 66% rate since 1994. US economic data was on the soft side with weekly initial jobless claims touching a fresh eight-month high and a gauge of factory activity in the mid-Atlantic region for July hitting its lowest in slightly over two years.‘s policy meeting next week, in which it is largely expected to hike rates by 75 bps.
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