European shares closed higher last Friday as investors digested economic data from the region, including a preliminary reading of second-quarter GDP in the UK, July inflation prints in France, Spain and Italy and industrial production in the euro zone in June.
Camilla Cerea | Bloomberg via Getty Images
European markets will open in positive territory on Monday, continuing the positive trend observed at the close of last week’s quotes.
European shares closed higher last Friday as investors digested economic data from the region, including a preliminary reading of second-quarter GDP in the UK, July inflation prints in France, Spain and Italy and industrial production in the euro zone in June.
Data released from the UK showed the economy contracted in the second quarter of 2022 as the country’s cost of living crisis hit home. Official figures show gross domestic product shrank 0.1% quarter-on-quarter in the second quarter of the year, less than the 0.3% contraction expected by analysts.
Also on investors’ minds was cooler-than-expected US inflation data last week. The consumer price index rose 8.5% in July from a year ago, below expectations, mainly due to falling energy prices.
Last weekend, I wrote about Warren Mosler's argument that the Fed's rate hikes could be…
Last weekend, I he wrote on Warren Mosler's argument that the Fed's rate hikes could…
Last week, the chairman of the Fed, Jerome Powell said, "the disinflationary process has begun".…
Earlier this week, I joined Romaine Bostick and Scarlet Fu Bloomberg TV. The Congressional Budget…
Tomorrow morning, I'll be joining CNBC's Squawk Box to talk about a new effort tax…
Former Vice President Mike Pence talks about privatizing Social Security. The remarks came Thursday before…