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DAX Slips As Automakers Drag On China Demand Concerns
(RTTNews) - German stocks edged lower on Wednesday, though the downside remained capped after U.S. President Joe Biden said it was "unlikely" that the blast in Poland may have been caused by a missile fired from Russian territory.
The benchmark DAX slipped 36 points, or 0.3 percent, to 14,342 after gaining half a percent in the previous session.
Siemens Energy jumped 4.7 percent. The company swung to a profit in the fourth quarter of its fiscal year and said it expects net loss to reduce in fiscal 2023.
Mercedes Benz Group tumbled 4 percent after slashing prices on two electric car models in China.
Rival BMW lost 2.6 percent and Volkswagen gave up 2.4 percent.
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U.S. Dollar Higher After Strong Jobs Data
The U.S. dollar firmed against its major counterparts in the New York session on Friday, following the release of better-than-expected nonfarm payrolls report for May.
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Swiss Market Ends Modestly Higher
After a flat start and a subsequent modest upmove, the Switzerland market turned subdued and fell into negative territory by noon on Friday, but recovered gradually to finally end the day's session on a positive note.
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European Markets Close Higher
The major European markets closed slightly higher on Friday, supported by data showing stronger-than-expected jobs growth in the U.S., and an upward revision in eurozone first-quarter GDP.
Weak industrial production data from Germany and France, and persisting concerns about U.S. tariffs limited markets' upside.
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CPSC Recalls: 3.8 Mln Dumbbells, 1.7 Mln Air Conditioners, Golf Cars, CO Detectors, Casters, E-Bikes
The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 3.8 million units of dumbbells by Johnson Health Tech Trading, 1.7 million air conditioners by Midea America Corp., around 352 thousand units of Yamaha golf cars including previously recalled ones, and around 50 thousand units of Apollo America's Combination Smoke and Carbon Monoxide or CO Detectors.
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TSX Pares Some Gains After Hitting Fresh Record High
Canadian stocks are up in positive territory in late morning trade on Friday, amid slightly easing concerns about tariffs following somewhat encouraging phone calls between the U.S. President Donald Trump and Chinese Premier Xi.
Investors are also digesting the nation's jobs data, as well the non-farm payrolls data from the U.S.
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U.S. Job Growth Slightly Exceeds Estimates In May
Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 139,000 jobs in May after jumping by a downwardly revised 147,000 jobs in April.
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U.S. Employment Jumps Slightly More Than Expected In May
Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday.
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Bay Street May Open Slightly Higher; U.S., Canadian Jobs Data In Focus
Higher Canadian and U.S. futures point to a slightly positive start on Bay Street Friday morning. The focus is on the crucial jobs data from Canada as well as the U.S.
Lingering concerns about trade tensions may weigh on sentiment and limit market's upside.
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