DAX Edges Higher In Cautious Trade Ahead Of Fed Decision
(RTTNews) - German stocks eked out modest gains on Wednesday ahead of the highly anticipated Federal Reserve's interest-rate decision due later in the day.
A 25-bps rate cut is likely and the release of Summary of Economic Projections and a press conference by Fed Chair Jerome Powell could signal changes in the size and pace of projected future rate cuts.
Analysts foresee a hawkish shift in the dot plot, consistent with the movement in market expectations since the last update in September.
The benchmark DAX was up 31 points, or 0.2 percent, at 20,276 after declining 0.3 percent in the previous session.
MTU Aero Engines edged up slightly after the engine manufacturer named Johannes Bussmann to replace CEO Lars Wagner.
Kontron AG shares soared 8.5 percent. The provider of technology products and services said that it has received an order of around 165 million euros from a European defense company.
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