CNBC Daily Open: Wall Street unfazed by hot inflation data

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Nikkei nears record level
Japan's Nikkei 225 closed just shy of the 40,000 level, hitting a fresh record high of 39,910.82, up 1.9%. The broader Topix index also added 1.3%. China's CSI 300 and Hong Kong's Hang Seng indexes advanced as well. Overnight, Wall Street ended on a high note as the Nasdaq Composite hit its first closing record since November 2021, rising 0.9%. The S&P 500 also jumped to a record close, up 0.52%. The Dow inched higher by 0.12%.

China foreign outreach
China's Ministry of Commerce met with foreign businesses to address their operating challenges against the backdrop of declining investments in the country. The roundtable this week came amid a pick up in U.S.-China exchanges with both sides trying to ease tensions between the world's two largest economic powers.

Europe's bleak earnings
Europe is having its worst earnings season since the onset of Covid. Around a half of European companies missed earnings estimates in the latest reporting season despite already low expectations, analysts told CNBC, predicting the region will continue to struggle amid high interest rates. 

Market unlikely to burst
Bob Parker, senior advisor at trade body International Capital Markets Association, told CNBC there are signs of a bubble in company valuations and investor concentration in the technology sector. But he isn't too worried that the market is on the brink of a bursting given a key difference with previous bubbles.

[PRO] Europe's 'Super 7'
Citi picked "Super 7"European stocks that it said