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The US Market rallied to start the week, led by the tech-heavy Nasdaq jumping more than 2% as investors weigh the Fed’s rate path moving forward in favour of a slowdown in rate hikes to come. Favourable economic data released last week showed a decline in wholesale and retail sales in a sign consumer spending is also starting to cool. The Dow Jones added 0.76% to start the week and the S&P500 rallied 1.19%. Semiconductor shares, as well as Apple and Tesla shares all climbed on Monday amid hopes that the reopening of China would stimulate business for these tech companies.
In Europe, markets started the week on a positive note as investors globally increasingly believe the Federal Reserve is ready to slow its rate hike pace amid signs of cooling growth in the US economy. Company earnings reports out in Europe also made waves yesterday with German fragrance and flavouring producer Symrise tumbling 7% after missing full year earnings expectations, while French liquor company Remy Cointreau shares rose 3% after Citigroup raised its rating from neutral to buy and raised its price target on the company.

Germany’s DAX closed almost half a percent higher on Monday, while the French CAC added 0.52% and in the UK, the FTSE100 rose 0.18%.