CAC 40 Little Changed Ahead Of Powell's Speech
(RTTNews) - French stocks struggled for direction on Wednesday following hawkish comments from Federal Reserve officials.
Fed Governor Christopher Waller said in a speech on Tuesday that Q3 U.S. GDP growth was a "blowout" performance that warrants a very close eye when thinking about policy going forward.
Fellow Governor Michelle Bowman said that the economy is gaining speed and requires a higher Fed policy rate.
Both Federal Reserve Bank of Minneapolis President Neel Kashkari and Chicago Fed President Austan Goolsbee also refused to rule out rate cuts, citing sticky inflation and resilience in the U.S. economy.
Fed Chair Powell is due to deliver opening remarks at the Division of Research and Statistics Centennial Conference today and participate in a policy panel discussion before the 24th Jacques Polak Annual Research Conference on Thursday.
The benchmark CAC 40 was marginally higher at 6,988 after losing 0.4 percent in the previous session.
Lender Credit Agricole advanced 1.4 percent after delivering better-than-expected third-quarter earnings.
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