Receive free market updates
We will send you a myFT Daily Summary email summarizing the latest Markets news every morning.
Global stocks edged higher on Friday as investors shrugged off concerns about large-cap tech stocks and turned their attention to upcoming policy meetings by major central banks next week.
Wall Street’s benchmark, the S&P 500, rose 0.3% midway through the New York session, recouping some of its losses from the previous session, while the Nasdaq Composite, focused on technology, gained 0.1%.
The moves took place a day later. technology shares sold off sharply in the United States and Europe as earnings reports from industry heavyweights Tesla and Netflix failed to impress investors.
“Right now, there’s a tug of war between encouraging inflation developments (. . . ) and more cautious wording by companies and their third-quarter earnings forecasts,” said Mobeen Tahir, director of macroeconomic research at WisdomTree.
In Europe, the regional Stoxx 600 index rallied after early morning losses to end the day up 0.3%. The French Cac 40 gained 0.7%. Germany’s Dax index was the only decliner in Europe, down 0.2%.
The indices were lifted as European energy stocks edged higher on rising oil prices, with investors expecting Chinese authorities to announce new measures next week to support the world’s second-largest economy.

Brent crude, the international benchmark, rose 1.3% to $80.63 a barrel, while U.S. benchmark West Texas Intermediate rose 1.4% to $76.69 a barrel.
“The metrics released so far have been disappointing relative to expectations (. . . ) we could see more stimulus in the coming weeks, which should provide near-term support to the market,” said Mohit Kumar, chief financial economist for Europe at Jefferies. , compared to China.
Ahead of the US Federal Reserve policy meeting next week, investors expect the central bank to raise the benchmark federal funds rate by 0.25 percentage points to a target range of between 5.25% and 5.5%.
The dollar, which tends to strengthen when investors expect higher rates, gained 0.2% against a basket of six peer currencies to hit its highest level in more than a week.
The benchmark 10-year Treasury yield, which moves with inflation and growth expectations, slipped 0.03 percentage points to 3.83%. Bond yields fall as prices rise.
“With inflation dynamics looking more encouraging, the general idea is that central banks are near their cycle peaks in terms of tightening,” said Padhraic Garvey, regional head of research for the Americas at ING.
The Bank of Japan and the European Central Bank will also hold interest rate setting meetings next week.
Shares were mixed in Asia, with Hong Kong’s Hang Seng adding 0.8% while China’s benchmark CSI lost 0.1%.