DAX Gains On US Debt Deal Hopes

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DAX Gains On US Debt Deal Hopes

(RTTNews) - German stocks advanced on Friday after Democratic negotiators reportedly told U.S. President Joe Biden they were making "steady progress" on a deal to lift the U.S. debt ceiling and avoid a debt default.

Meanwhile, Germany's producer prices posted their slowest annual growth in two years in April, Destatis reported earlier today.

Producer prices registered an annual growth of 4.1 percent in April after rising 6.7 percent in March. This was the weakest increase since April 2021, when prices gained 5.2 percent. Economists had forecast a 4.0 percent rise.

On a monthly basis, producer prices marked the first increase since September 2022. Producer prices climbed 0.3 percent, reversing the 1.4 percent decrease a month ago and in contrast to the expected fall of 0.5 percent.

The benchmark DAX was up 87 points, or half a percent, at 16,251 after rallying 1.3 percent on Thursday.

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German Inflation Accelerates To 2.2% In August

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Swiss Market Ends Modestly Lower

Swiss Market Ends Modestly Lower

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European Stocks Close Lower On Geopolitical Tensions

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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.
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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.
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