DAX Edges Higher On Fed, ECB Rate Cut Hopes
(RTTNews) - German stocks traded slightly higher on Monday as weaker-than-expected April U.S. jobs report released on Friday along with separate data showing an unexpected contraction in U.S. service sector activity in April boosted the case for rate cuts by the third quarter.
Closer home, media reports quoted European Central Bank Chief Economist Philip Lane as saying that inflation is returning to the target in a timely manner and hence there is a stronger case for June rate cut.
He is one of the six members of the Executive Board of the European Central Bank, along with President Christine Lagarde and Vice President Luis de Guindos.
The benchmark DAX was up 49 points, or 0.3 percent, at 18,050 after rising 0.6 percent on Friday.
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TSX Ends On Strong Note
The Canadian market ended on a strong note on Friday thanks to some brisk buying at several counters in late afternoon trades. Optimism about interest rate cuts by the Bank of Canada and the Federal Reserve helped underpin sentiment.
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Dollar Sheds Ground Against Major Counterparts
The U.S. dollar turned in a weak performance against its major rivals on Friday on bets the Federal Reserve will likely cut interest rate in September after a reading of the nation's consumer price inflation came in line with estimates.
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Swiss Market Ends On Buoyant Note
The Switzerland market ended on a strong note on Friday as stocks kept moving higher and higher during the day's session thanks to sustained buying support amid bets several central banks will start cutting interest rates soon.
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2 dias atrás
European Stocks Close Higher After Choppy Session
European stocks closed higher on Friday with investors digesting eurozone inflation data, and a report on U.S. personal income & spending, and looking ahead to the European Central Bank's monetary policy announcement next week.
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U.S. Dollar Declines As PCE Data Cements Rate Cut Bets
The U.S. dollar moved down against its major counterparts in the New York session on Friday, as the nation's consumer prices increased in line with economist estimates in April, raising the possibility of a rate cut from the Federal Reserve in September.
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Canadian Market Modestly Lower; Bank Stocks Lose Ground On Earnings
Despite optimism about an interest rate cut by the Bank of Canada in June, the Canadian market remains weak a little past noon on Friday as data showing a less than expected growth of the nation's GDP weigh on sentiment.
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Tesla Recalls Over 125K Vehicles For Seat Belt Warning Issue
Tesla Inc. (TSLA) is recalling 125,227 cars in the U.S. due to a software and sensor issue that prevents the seat belt warning system from activating, which may potentially increase the risk of injury in a collision, according to a statement by the National Highway Traffic Safety Administration (NHTSA) on Friday.
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Chicago Business Barometer Unexpectedly Indicates Faster Contraction In May
Chicago-area business activity unexpectedly contracted at an accelerated rate in the month of May, according to a report released by MNI Indicators on Friday. MNI Indicators said its Chicago business barometer fell to 35.4 in May from 37.9 in April, with a reading below 50 indicating contraction. Economists had expected the business barometer to rise to 41.0.
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