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Strong US earnings help global stocks rally

Major indices on Wall Street rallied Tuesday after strong earnings from US banks and tech stocks like Netflix, with markets in Asia and Europe getting a boost

Wall Street
Source: Bloomberg

The FTSE 100 has risen more than 20 points at 9:35am (BST) on Wednesday bolstered by strong earnings in the US market and news that UK consumer price inflation fell to 2.4% in September, down from 2.7% in August.

In mainland Europe, the Euro Stoxx 50 has climbed 0.15% and Frankfurt’s TecDAX, which tracks the performance of the 30 largest German technology companies, is up 27 points (1.03%).

Elsewhere, Tokyo’s Topix has move up 1.54%, while China’s CSI 300 and Shanghai Composite edged higher.

After strong earnings from major US banks like Goldman Sachs and Morgan Stanley, alongside a rally for tech shares spurred by Netlfix, which saw its share price rise as much as 16% in after-hours trading, Wall Street indices rebounded from Monday’s losses.

In fact, the S&P 500, Dow Jones Industrial Average and Nasdaq Composite witnesses one of the largest one-day gains since March.

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