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Private consumption in the euro area surged by 0.7% in the third quarter, marking the largest increase in two years and signaling a potential economic recovery. Investments also rose by 2%, although trade negatively impacted overall growth, which stood at 0.4% according to Eurostat.
Nvidia"s upcoming earnings report is generating significant anticipation, overshadowing geopolitical tensions, including Russia"s warning of a nuclear response to Ukraine"s missile strikes. U.S. markets showed resilience, with the S&P 500 and Nasdaq closing higher, while Qualcomm projected $22 billion in additional annual revenue by 2029. Investors are keenly focused on Nvidia"s performance and its next-generation Blackwell chips, which are critical for maintaining its lead in the AI chip market.
Inflation in the eurozone dropped from 2.2% to 1.8% in September, primarily due to a significant 6% decrease in energy prices compared to last year. The core inflation rate is expected to decline slightly to 2.7%. However, service prices remain a concern, rising 4% year-on-year, indicating potential challenges ahead as energy price effects diminish in November. The European Central Bank is likely to cut interest rates at its October meeting in response to the falling inflation and a deteriorating economic outlook.
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Eurozone Consumer Spending Rises Significantly Boosting Economic Growth
11:00 06.12.2024
vidia earnings overshadow geopolitical tensions as markets recover
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03:26 20.11.2024
eurozone inflation drops to 1.8 percent as energy prices decline
09:00 01.10.2024
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