Markets in Europe are expected to open on a firm note on Friday and add to Thursday's gains as markets weigh the latest growth data from the U.S. as well as the health of the corporate sector. The American economy grew at 2.9 percent in the fourth quarter versus expectations of a 2.6 percent growth. However, gains could be limited by anxiety ahead of the release of the PCE-based inflation readings from the U.S., as well as the ongoing earnings updates and interest rate reviews by the Fed, ECB and BoE next week.
Bullish sentiment prevailed in Wall Street on Thursday as the higher-than-expected GDP numbers from the U.S. raised hopes of a soft landing for the economy, despite an aggressive monetary tightening path pursued by the Fed. Better-than-expected earnings releases also supported the rally. The Nasdaq Composite surged 1.76 percent to close at 11,512.41 and the Dow Jones Industrial Average rallied 0.61 percent to finish trading at 33,949.41.
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