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.

U.S. retirees may get a big benefit with the next Social Security cost-of-living adjustment for 2023.

Core retail sales improved firmly in July, but the headline figure was essentially unchanged as gas prices tumbled from their June record highs.

E-commerce giant Amazon is the subject of a major investigation linked to its Prime service. It's not sitting idly by.