Europe Closes at One-Year High; Chip Stocks Recover
Positive close in Europe: The STOXX 600 rose to a one-year high, completing a fourth consecutive weekly gain. Memory chip stocks led the South Korean stock market to a 6% surge and boosted European counterparts.…
Assessment
European markets closed at a one-year high, with the Stoxx 600 notching a fourth consecutive weekly gain. Semiconductor stocks rebounded, following a 6% surge in South Korea's memory chip sector. A weak U.S. jobs report weakened the dollar and pushed gold toward its first weekly gain in five weeks. Wall Street is closed today for Independence Day, so the next session will show whether momentum holds.