CAC 40 Extends Slide On Rate Hike, Growth Worries

RTTNews | Před 865 dny
CAC 40 Extends Slide On Rate Hike, Growth Worries

(RTTNews) - French stocks tumbled on Monday to extend losses from the previous session following Fed Chair Jerome Powell's hawkish remarks in Jackson Hole, Wyoming on Friday.

Powell declared that the "economy does not work for anyone" without price stability and the central bank would use its tools "forcefully" that could mean slower growth, a weaker job market and "some pain" for households and businesses.

Separately, European Central Bank (ECB) board member Isabel Schnabel warned over the weekend that forceful action is needed to bring stubbornly high inflation under control.

Governing council member Francois Villeroy and policymaker Martins Kazaks also signaled aggressive policy tightening in September.

The benchmark CAC 40 was down 87 points, or 1.4 percent, at 6,187 after closing 1.7 percent lower on Friday.

Drug maker Valneva advanced 1.5 percent after reporting positive late-stage trial results for its COVID-19 shot.

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Dollar Climbs Higher After Buoyant Jobs Data

Dollar Climbs Higher After Buoyant Jobs Data

The U.S. dollar firmed against its major counterparts on Friday amid fading hopes of further reductions in interest rates after data from the Labor Department showed stronger-than-expected growth in non-farm payroll employment in the month of December.
RTTNews | Před 5 h 14 min
Swiss Market Ends Notably Lower

Swiss Market Ends Notably Lower

The Switzerland market settled notably lower on Friday, in line with markets across Europe, as upbeat U.S. jobs data raised concerns that the Federal Reserve will likely hold interest rates unchanged from current levels, or go slow on interest rate cuts this year. Data showing an increase in Swiss unemployment weighed as well.
RTTNews | Před 8 h 38 min
U.S. Dollar Firms As Strong Jobs Data Dampens Rate Cut Hopes

U.S. Dollar Firms As Strong Jobs Data Dampens Rate Cut Hopes

The U.S. dollar climbed against its most major counterparts in the New York session on Friday, as stronger-than-expected jobs data for December strengthened expectations that the Federal Reserve will hold rates steady for sometime.
RTTNews | Před 8 h 52 min
Canadian Stocks Tumble As Upbeat Jobs Data Raises Interest Rate Concerns

Canadian Stocks Tumble As Upbeat Jobs Data Raises Interest Rate Concerns

Canadian stocks are down sharply on Friday with stronger-than-expected U.S. jobs data raising concerns that the Federal Reserve will likely hold interest rates unchanged from current levels for sometime. Also, a buoyant Canadian employment reports has dimmed the prospects for further easing by the Canadian central bank for now.
RTTNews | Před 10 h 5 min
U.S. Consumer Sentiment Edges Lower In January As Inflation Expectations Surge

U.S. Consumer Sentiment Edges Lower In January As Inflation Expectations Surge

Consumer sentiment in the U.S. has unexpectedly seen a modest deterioration in the month of January, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index edged down to 73.2 in January from 74.0 in December. Economists had expected the index to inch up to 74.5.
RTTNews | Před 11 h 58 min
U.S. Job Growth Far Exceeds Estimates In December

U.S. Job Growth Far Exceeds Estimates In December

A closely watched report released by the Labor Department on Friday showed employment in the U.S. increased by much more than expected in the month of December. The Labor Department said non-farm payroll employment surged by 256,000 jobs in December after jumping by a downwardly revised 212,000 jobs in November. Economists had expected employment to climb by 160,000 jobs.
RTTNews | Před 12 h 40 min