New York, Oct. 15 (BNA) Shares mostly rose in Europe and Asia on Friday after technology companies led the biggest rally on Wall Street since March, the Associated Press reported.
Investors were encouraged by the strong earnings reports, as every Standard & Poor’s 500 company reported earnings this week that beat expectations.
“Overall, it is safe to say that the US stock market is completely in a risky mode and that traders are not afraid to support riskier assets,” Avatrade’s Naeem Aslam said in a comment.
Inflation remains a major concern, and Friday will bring an update on how higher prices will affect consumer spending when the Commerce Department releases retail sales for September.
TSMC, the world’s largest chip maker, rose 4.7% after its CEO confirmed reports of its plans to open a semiconductor manufacturing plant in Japan.
The Shanghai Composite Index rose 0.4% to 3,572.37. China will report its fourth-quarter growth on Monday in another indication of how the recovery from the epidemic slowdown is progressing.
In other trading on Friday, US crude oil topped $82 a barrel, up 72 cents to $82.03 a barrel in electronic trading on the New York Mercantile Exchange. It rose 87 cents to $81.31 a barrel on Thursday.
Brent crude, the international pricing benchmark, rose 83 cents to $84.83 a barrel.
The US dollar rose to 114.27 JPY from 113.67 JPY late Thursday. The euro rose to $1.1606 from $1.1596.