Stocks rose on Friday ahead of a keenly awaited speech by US Federal Reserve Chair Kevin Warsh as investors seek clues about the outlook for interest rates amid stubbornly high inflation in the world's biggest economy.
With the euphoria following US chip titan Nvidia's blistering earnings report petering out, attention is squarely on whether the US central bank will tighten monetary policy.
Wall Street indices edged higher at the open while European stocks were broadly higher, with Paris piling on one percent as luxury shares led gains.
"Now that the tech trade is on a more solid footing, the focus can shift to Jackson Hole," the Wyoming town that hosts the Federal Reserve's annual conference, said Kathleen Brooks, research director at trading group XTB.
As the speech is typically used to signpost the direction of monetary policy, "it has always been a market-moving event, directly impacting the price of bonds, the dollar and gold", she said.
