US stocks gained mid-session Thursday after Presidents Trump and Xi revived dialogue with a phone call that eased trade tensions, while investors looked ahead to Friday’s critical jobs data. European markets also ended higher as the ECB delivered a widely anticipated 25-bps rate cut—its first since 2019—boosting sentiment across the region.
The euro weakened by 0.56% against the U.S. dollar after inflation data showed the eurozone’s consumer prices rose just 1.9% in May—below the European Central Bank’s 2% target
Despite weak economic data, the Japanese and the European markets have been hitting fresh record highs. Through this explainer, find out why and when markets rise despite a weak economy.