Stocks closed sharply higher Friday, sending the S&P 500 and Dow Jones Industrial Average to their biggest weekly gains since the week of the November presidential election.

Luxury sector bellwether Richemont jumped 16% after reporting a better-than-expected 10% increase in fiscal third-quarter sales, while France's LVMH, Kering and Christian Dior all rising. Retailers Moncler, Burberry, Swatch and Hermes also crowded around the top of the Stoxx index.

Indexes were slightly lower Thursday. Stocks dipped after posting the best day since November on Wednesday, fueled by bank earnings and tame CPI data.

U.S. stocks traded sharply higher in Wednesday's final hour of trading, with the Dow Jones Industrial Average and S&P 500 headed for a third consecutive session of gains after December's CPI data sparked a relief rally.

Futures on the Dow Jones Industrial Average (DJI) are pointed firmly lower, following yesterday's 703-point pop, while S&P 500 Index (SPX) futures sit flat, and Nasdaq-100 Index (NDX) futures manage a modest gain.

Investors await Wednesday’s key CPI inflation print before making decisions. The Dow Jones Industrial Average (DJIA) lurched around 150 points higher on Tuesday after Producer Price Index (PPI ...