DAX Rises On US Rate Cut Optimism
(RTTNews) - German stocks rose notably on Friday after overnight data showed a sharp rise in U.S. weekly jobless claims, stoking optimism the Federal Reserve will start cutting interest rates this year.
The dollar and bond yields dipped, reflecting investors' expectations that the Fed may cut interest rates in September or November.
Markets now eagerly await next week's April U.S. producer price index (PPI) and the consumer price index (CPI) for signs that inflation has resumed its downward trend towards the Fed's 2 percent target rate.
The benchmark DAX was up 129 points, or 0.7 percent, at 18,815 after rallying 1 percent the previous day.
Online retailer Zalando jumped over 3 percent as Berenberg upgraded its rating on the stock to "buy" from "hold."
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Canadian Market Drifts Lower After Inflation Data
The Canadian market is down in negative territory Tuesday morning, weighed down by data showing the nation's consumer price inflation unexpectedly increased in May.
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vor 4Std 36 Minuten
US Consumer Confidence Dips On Weaker Economic Expectations
Consumer confidence in the U.S. eased slightly in June as households' economic expectations eroded, survey data from the Conference Board showed Tuesday. The Conference Board Consumer Confidence Index fell to 100.4 from 101.3 in May. Economists had expected a reading of 100.
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vor 4Std 51 Minuten
Spirit Aero Stock Dips On Reports Of Boeing Changing Terms Of Acquisition Offer
Spirit AeroSystems shares were losing more than 5 percent in morning trade on the NYSE after Bloomberg reported that Boeing Co. changed the acquisition terms to stock offer from cash offer. Boeing has now offered to buy its key supplier Spirit AeroSystems Holdings Inc. for about $35 per share in a mostly stock deal, Bloomberg reported citing people familiar with the matter.
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vor 5Std 27 Minuten
Eli Lilly Collaborates With OpenAI To Use Generative AI To Invent Novel Antimicrobials
Eli Lilly and Co. (LLY) announced Tuesday a collaboration with OpenAI that will allow Lilly to leverage OpenAI's generative AI to invent novel antimicrobials to treat drug-resistant pathogens.
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vor 5Std 30 Minuten
DuPont To Acquire Donatelle Plastics For Undisclosed Terms
Chemical company DuPont de Nemours, Inc. or DuPont (DD) announced Tuesday it has signed an agreement to acquire Donatelle Plastics Inc., a medical device contract manufacturer specializing in the design, development and manufacture of medical components and devices.
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vor 6Std 33 Minuten
GM Defense Provides Commercial Battery Electric Technology For Future Military Platforms
GM Defense LLC, a subsidiary of General Motors Co. (GM), said Tuesday it is providing commercial battery electric technology in support of the University of Texas at Arlington (UTA) Pulsed Power and Energy Laboratory (PPEL) and Naval Surface Warfare Center Philadelphia Division (NSWCPD).
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vor 6Std 51 Minuten
Heritage Financial Names Bryan McDonald To Succeed Jeffrey Deuel As President And CEO
Heritage Financial Corp. (HFWA), the parent company of Heritage Bank, on Tuesday named Bryan McDonald to succeed Jeffrey Deuel as President and CEO of Heritage Bank and President of Heritage Financial Corp., effective July 1, 2024.
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vor 6Std 59 Minuten
Carisma Says FDA Grants Fast Track Designation For CT-0525 In HER2-Overexpressing Solid Tumors
Biopharmaceutical company Carisma Therapeutics, Inc. (CARM) announced Tuesday that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for CT-0525, an ex vivo gene-modified autologous chimeric antigen receptor-monocyte (CAR-Monocyte) cellular therapy intended to treat solid tumors that overexpress human epidermal growth factor receptor 2 (HER2).
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vor 7Std 23 Minuten
