European-listed luxury goods stocks tumbled Thursday as investors worried that Apple Inc.'s surprise revenue warning, which it blamed on slowing China sales, signaled weaker consumer spending in the world's second largest economy.

Global stocks rebounded modestly Wednesday, as new moves to support the Chinese economy boosted markets in Asia and solid corporate profits lifted Europe shares higher at the opening bell, but investors remain sensitive to the U.S. earnings story amid signs of a slowing world economy and rising equity volatility ahead of some key tech-sector reports later this week.

It pays to be in fashion, or so it seems.

Hermes International traded higher Thursday after a strong set of first-quarter earnings that added to the gaining momentum of the luxury sector that has seen many houses report double-digit growth.

Kering shares hit an all-time high on Wednesday in Paris after the French luxury goods house reported a record performance in the first three months of the year.

The maker of Fendi fashions and Hennessy cognac posted posted a 15% increase in first-quarter sales easily beating analyst expectations.

Kering shares surged to the top of the CAC 40 on Friday after Gucci and Saint Laurent sales helped deliver its strongest annual growth in five years.

Yves St Laurent sales helped Kering, too.

European stocks traded higher Friday after much better-than-expected trade data from China boosted economic sentiment and comments from President Donald Trump suggest imminent tax reform in the world's biggest economy.

Tesla is expected to start production of its highly anticipated futuristic truck in 2023.

A development team led by Seth Rogen is working on a production that centers on a less well-known character with a nonetheless devoted following.

The Fed's preferred inflation gauge topped Street forecasts Friday, snuffing out hopes of a near-term change in the central bank's rate hiking plans.