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DAX Slips On Hawkish Fed
(RTTNews) - German stocks traded lower on Friday after Federal Reserve Chair Jerome Powell said the U.S. central bank might raise rates again if deemed appropriate.
A jump in U.S. bond yields following a weak Treasury auction also dented rate cut hopes. The benchmark DAX was down 70 points, or half a percent, at 15,282 after rising 0.8 percent in the previous session.
IT company Bechtle plunged 5.6 percent despite reporting higher earnings and revenue for the third quarter.
Insurer Allianz jumped more than 3 percent after confirming its 2023 operating profit target.
United Internet AG shares rose about 1 percent. The telecom firm has revised up its EBITDA outlook for the full year while reiterating sales guidance.
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U.S. Dollar Weakens After Soft ISM Services PMI Data
The U.S. dollar fell against its major counterparts in the New York session on Friday, following the release of weaker-than-expected ISM services PMI data.
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15h 56min ago
TSX Continues To Climb Higher; Technology, Energy Stocks Rise
The Canadian market marched on to a new record high on Friday, led by gains in energy, industrials and technology sectors, as the mood remained positive amid optimism surrounding artificial intelligence and hopes of another rate cut by the Federal Reserve outweighed concerns about a government shutdown in the U.S.
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19h 52min ago
Swiss Market Settles On Firm Note As Alcon, UBS Group Rise Sharply
The Switzerland market closed on a firm note on Friday, gaining in strength after a modestly positive start. Expectations of more monetary easing by the Federal Reserve, and optimism surrounding artificial intelligence helped keep investor sentiment fairly upbeat.
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20h 33min ago
European Markets Close On Firm Note On Rate Cut Hopes, AI Optimism
European markets closed higher on Friday as rising hopes of more interest rate cuts from the Federal Reserve, and optimism surrounding artificial intelligence outweighed concerns about any impact of the government shutdown in the U.S.
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21h 3min ago
U.S. Service Sector Activity Unchanged In September
Service sector activity in the U.S. was unchanged in the month of September, the Institute for Supply Management revealed in a report released on Friday. The ISM said its services PMI fell to 50.0 in September from 52.0 in August, with a reading of 50.0 serving as the breakeven point between expansion and contraction. Economists had expected the index to edge down to 51.7.
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23h 29min ago
Eurozone Private Sector Maintains Expansion
The euro area economy continued to expand in September, with broad-based growth in Germany, Italy and Spain, while France contracted further due to political uncertainty, final survey data from S&P Global revealed on Friday. The final HCOB composite output index rose moderately to 51.2 in September, in line with flash estimate, from 51.0 in the previous month.
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1 day ago
Bay Street Headed For Positive Start
Higher Canadian and U.S. futures and firm commodity prices point to a positive start for the Canadian market Friday morning. Optimism surrounding artificial intelligence and expectations of a rate cut by the Federal Reserve may help underpin sentiment.
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1 day ago
FTSE 100 Up Firmly In Positive Territory, Set To End Week On Strong Note
The U.K. stock market is up in positive territory Friday afternoon, supported by gains in banking and mining sectors. The benchmark FTSE 100 is well set to end the week with a gain of about 2%.
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1 day ago
