European stocks end the week higher; Carrefour rallies nearly 13%
Looking across the European benchmark, Carrefour rose 12.84 percent after reporting a profit increase in the first half of the year, whereas Kering fell 7.54 percent after Gucci sales came in slightly weaker than forecasts, Reuters reported.
In the U.S., gross domestic product grew at a solid 4.1 percent pace in the second quarter, boosting hopes that the economy is ready to break out of its decade-long slumber.
Meantime, trade continues to dwell on investor sentiment, as fresh news continues to roll out. On Thursday, U.S. Treasury Secretary Steven Mnuchin told CNBC that a deal on NAFTA would be coming soon. The U.S. has been in renegotiation talks with Canada and Mexico over NAFTA, after President Donald Trump heavily criticized the trade agreement.
The U.S. pledged to work together with the European Union this week, to reduce tariffs and avoid a trade war between the two regions; however the future of car levies remains unknown. On Thursday however, Commerce Secretary Wilbur Ross stated that the Commerce Department would continue its investigation into whether auto imports would inflict a risk on U.S. national security, Reuters reported.