London, United Kingdom – European markets showed positive momentum today as investors awaited crucial inflation data from both the euro zone and the U.S. The pan-European Stoxx 600 index opened 0.17% higher, with most sectors and major bourses trading in the green. Mining stocks saw a rise of 0.82%, while household goods experienced a slight dip of 0.5%.

According to Wells Fargo’s Mike Mayo, U.S. banks are seeing favorable results following the Federal Reserve’s stress test. Mayo expressed confidence in the resilience of U.S. banks, stating that they are in a strong position despite facing challenges comparable to the 2008 global financial crisis. Notably, Citigroup’s performance was highlighted as a positive surprise, with its shares making modest gains during Thursday’s trading session.

In extended trading, Accolade and American Outdoor Brands exhibited contrasting outcomes. Accolade shares plummeted over 27% after releasing softer-than-expected guidance for the current quarter, despite surpassing revenue expectations for the first fiscal quarter. Conversely, American Outdoor Brands saw an 8% increase in its stock value due to strong earnings in the fiscal fourth quarter, surpassing analyst predictions.

A recent survey by eToro revealed that a significant number of retail investors are favoring financial services stocks over technology equities. The report indicated that 54% of retail investors are holding financial services stocks, reflecting a trend observed in previous surveys as well. The survey also suggested a potential decline in confidence among younger investors following a market pullback, with older, more experienced investors showing greater resilience.

Nike faced a setback as its shares dropped approximately 11% in extended trading, despite reporting strong earnings. The company experienced its third revenue miss in four quarters and issued cautious guidance for the upcoming fiscal year. Nike’s stock performance reflects a 23% decline year-to-date, with only Intel and Boeing faring worse in the Dow.

Stock futures remained stable, with minimal changes shortly after 6 p.m. ET. Dow futures saw a slight decline of 0.1%, while S&P 500 and Nasdaq 100 futures recorded marginal increases. This overall stability in stock futures indicates a cautious sentiment among investors as they await further market developments.