European stocks rose on Thursday after the European Central Bank's decision to cut interest rates for the first time since 2019, but Wall Street remained cautious ahead of Friday's release of highly-anticipated May nonfarm payrolls data.
The Euro Stoxx 50 index rose 0.66% after the ECB cut interest rates by 25 basis points as expected, but government bond yields across the euro zone also rose.
The ECB cut interest rates but had to accept an increase in its official inflation forecasts to secure votes, so this might be called “hawkish easing”.
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Meanwhile, on Wall Street, the Dow Jones Industrial Average rose 0.11%, the S&P 500 fell 0.13%, the Nasdaq Composite was flat at 0.17% and Treasury yields were steady as investors awaited the jobs data.
The calm follows a very strong previous session, which saw a flurry of positive news on artificial intelligence, the S&P closing at a record high and Nvidia's market capitalization surpassing $3 trillion.
Latin American markets traded mixed. Chile's S&P IPSA index rose 0.21% to 6,670.27 points. Falabella (1.8%), Entel (1.76%) and Concha y Toro (1.74%) led the gains. Banchile published a positive analysis on Concha y Toro shares today.
