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DAX Slips On Hawkish Fed
(RTTNews) - German stocks slipped into the red on Thursday after Fed forecasts showed the U.S. central bank sees its benchmark interest rate reaching 4.4 percent by end-2022 and rising even further in 2023.
The Bank of England meets later in the day, with economists expecting a 75-bps rate hike.
Earlier today, the SNB hiked borrowing costs by 75 basis points to 0.5 percent, up from the previous level of -0.25 percent set in June.
The benchmark DAX was down 40 points, or 0.3 percent, at 12,726 after rising 0.8 percent the previous day.
Tech stocks fell, with Infineon Technologies losing 1.5 percent.
Travel-related stocks were also on the decline, with TUI giving up nearly 1 percent.
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European Shares Mostly Higher As Nvidia Outlook Lifts Sentiment
European stocks were mostly higher on Thursday as Nvidia's positive results helped ease AI slowdown fears. U.K. markets underperformed as banks and utilities declined.
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Asian Shares Rise As Nvidia Beats Expectations
Asian stocks ended mostly higher on Thursday as Nvidia's strong results quelled worries over weakening AI demand.
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42 minuter sedan
U.S. Dollar Falls Amid Fed Rate Cut Speculation
The U.S. dollar weakened against other major currencies in the Asian session on Thursday, after the Fed official left the door open for an interest rate cut next month.
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Europe Car Sales Rebound In July
Europe's new car sales rebounded in July on strong demand for battery electric and plug-in hybrid cars, the European Automobile Manufacturers' Association reported Thursday. Car registrations in the European Union advanced 7.4 percent year-on-year in July, offsetting June's 7.3 percent decrease. Data showed an annual rise of 39.1 percent for battery-electric and 14.3 percent for hybrid-electric
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1h 49minuter sedan
U.S. Dollar Falls Against Majors
The U.S. dollar weakened against other major currencies in the Asian session on Thursday.
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European Shares Seen Higher At Open
European stocks are seen opening broadly higher on Thursday even as Nvidia's disappointing sales forecast raised concerns about the AI spending boom.
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Sensex Nifty Decline On Tariff Worries
Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.
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European Economic News Preview: Eurozone Economic Sentiment Data Due
Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.
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