According to Jinshi, European stocks are hovering near record highs, thanks to optimism about earnings growth and potential interest rate cuts. The European Stoxx 600 index rose 0.2%, and the index hit an all-time high last week. Basic resource stocks outperformed as gold and copper prices reached record levels, technology stocks also rose, while auto stocks lagged. A better-than-expected earnings season and expectations that the European Central Bank may cut interest rates before the Federal Reserve are key factors driving the rally. Morgan Stanley strategist Marina Zavolock raised the target for the MSCI Europe Local Index to 2,500 points, predicting an 18% increase from current levels in the next 12 months.