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DAX Dips On Profit Taking After Recent Gains
(RTTNews) - German stocks slipped into the red on Friday as caution set in after recent strong gains on optimism over signs the Federal Reserve might slow down the pace of rate hikes.
Investors also expect smaller rate hikes by the European Central Bank amid lingering worries of a recession in the euro zone.
The benchmark DAX slipped 0.1 percent to 14,469 after rising 0.7 percent in the previous session.
Banks were subdued, with Deutsche Bank falling nearly 1 percent. Tech stocks were rising, with Infineon rising half a percent.
The euro extended gains against the dollar for a third straight session, hitting a six-month high and on track for a second weekly gain in a row.
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U.S. Dollar Drops Against Majors
The U.S. dollar fell against its major counterparts in the New York session on Friday.
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21h 32min ago
U.S. Govt Has Started To Fire Federal Workers
The U.S. government has started to layoff federal employees, the Office of Management and Budget's chief Russell Vought said on the 10th day of the shutdown. In a post on the social media platform X, Vought said, "The RIFs have begun." RIF is an acronym for reduction in force.
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22h 20min ago
SMI Sheds Over 1% As Stocks Tumble In Final Hour
After moving along the flat line till the penultimate hour of the day's trading session on Friday, Switzerland's benchmark index SMI tumbled in the final hour, as trade tensions intensified after U.S. President Donald Trump threatened to impose massive tariffs on Chinese imports.
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1 day ago
European Stocks Tumble As Trump Threatens Massive Tariffs On Chinese Imports
European stocks fell sharply on Friday as trade tensions intensified after U.S. President Donald Trump threatened that he will raise tariffs on Chinese imports, following China's decision to expand export controls on rare earth metals.
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1 day ago
TSX Down 0.7%, Looks Headed For Another Weak Close
After opening slightly higher and advancing further, the Canadian market slipped into negative territory Friday morning, pushed down by losses in healthcare, energy and technology sectors.
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1 day ago
U.S. Consumer Sentiment Virtually Unchanged In October
A report released by the University of Michigan on Friday showed its reading on U.S. consumer sentiment was virtually unchanged in the month of October.
The University of Michigan said its consumer sentiment index edged down to 55.0 in October from 55.1 in September. Economists had expected the index to slip to 54.2.
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1 day ago
Calico Brands Recalls 175K Scripto Premium Torches Sold At Walmart, Home Depot
Ontario, California-based Calico Brands is recalling about 175 thousand units of Scripto Premium Torches citing risks of injury or death from fires and burns, according to the U.S. Consumer Product Safety Commission. The recall involves the Scripto Premium Torch with UPC number "0-70257-52226-6".
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1 day ago
Bay Street May Open Flat; Jobs Data In Focus
Futures point to a flat start for the Canadian market Friday morning, but the nation's employment data, due before the opening bell, could well set the trend for stocks. Firm gold and silver prices are likely to trigger some strong buying in the materials sector.
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1 day ago
