DAX Rises On Powell Comments

RTTNews | 933 days ago
DAX Rises On Powell Comments

(RTTNews) - German stocks were seeing modest gains on Wednesday after Federal Reserve Chair Jerome Powell said that "disinflation has begun" but is going to take time.

The benchmark DAX rose 72 points, or half a percent, to 15,393 after declining 0.2 percent on Tuesday.

Tech stocks traded higher, with Infineon rising 1 percent.

Utility E. ON advanced 1.7 percent after saying it likely exceeded its own profit outlook in 2022.

Siemens Energy gained 1.2 percent, a day after lowering guidance for 2023.

Reinsurer Hannover Re rose 1.2 percent despite reporting renewed premium volume slightly below the previous year.

Asian stocks ended on a mixed note earlier today as lingering U.S.-China tensions offset investor optimism over an easing of U.S. rate hikes.

U.S. stock futures dipped slightly after President Joe Biden called for a new minimum tax targeting billionaires in his State of the Union address Tuesday night.

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German Inflation Accelerates To 2.2% In August

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.
RTTNews | 2h 10min ago
Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.
RTTNews | 4h 59min ago
European Stocks Close Lower On Geopolitical Tensions

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.
RTTNews | 5h 28min ago
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | 8h 31min ago
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | 9h 15min ago