CAC 40 Drifts Lower As Powell Dashes Rate-cut Hopes
(RTTNews) - French stocks traded lower on Friday after Federal Reserve Chair Jerome Powell signalled a cautious approach on rate cuts, given persistent inflationary pressures.
Powell said the U.S. central bank does not need to rush to lower interest rates and can approach decisions carefully.
The benchmark CAC 40 was down 30 points, or 0.4 percent, at 7,281 after climbing 1.3 percent on Thursday.
Energy company TotalEnergies was marginally higher after it joined forces with BP, Equinor and Shell to invest in support of the UN Sustainable Development Goal 7 (UN SDG7).
Drug maker Sanofi tumbled 3.4 percent after U.S. President-elect Donald Trump tapped anti-vaccine activist and conspiracy theorist Robert F. Kennedy as his secretary of health.
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U.S. Industrial Production Decreases In Line With Estimates In October
With the effects of recent hurricanes and the strike at Boeing (BA) continuing to weigh on growth, the Federal Reserve released a report on Friday showing U.S. industrial production decreased in line with economist estimates in the month of October.
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New York Manufacturing Index Soars Into Positive Territory November
A report released by the Federal Reserve Bank of New York on Friday showed regional manufacturing activity has seen a substantial turnaround in the month of November.
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U.S. Import Prices Unexpectedly Increase In October
The Labor Department released a report on Friday showing an unexpected increase by import prices in the U.S. in the month of October.
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U.S. Retail Sales Climb Slightly More Than Expected In October
Partly reflecting a jump in sales by motor vehicle and parts dealers, the Commerce Department released a report on Friday showing retail sales in the U.S. increased by slightly more than expected in the month of October.
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Bay Street Likely To Open On Mixed Note
Canadian shares are likely to see a mixed start Friday morning, tracking commodity prices, and subdued European stocks. Waning hopes of aggressive interest rate cuts by the Federal Reserve may weigh on sentiment.
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EU Forecasts Eurozone Growth To Pick Up Despite Heightened Uncertainty
The Eurozone economic growth is projected to pick up next year with acceleration of domestic demand despite risks to global trade from protectionist measures. In the Autumn Forecast, the European Commission retained the economic growth outlook for 2024 at 0.8 percent. The currency bloc continued to grow at a subdued pace through the second and third quarters amid easing inflationary pressures.
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6घंटे 22 मिनट पहले
CPSC Recalls: Bicycles, DeNova Alarms, Planter Boxes, YOYO3 Strollers
The U.S. Consumer Product safety Commission or CPSC has announced recalls including woom Bikes USA's children's bicycles, New Cosmos USA's combination Natural Gas and Carbon Monoxide Alarms, Outdoor Essentials' Cultivar Planter Boxes, Stokke's YOYO3 Strollers, Hallmark's Cad Bane Christmas Tree Ornaments, as well as Petidoux's Children's Pajamas.
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6घंटे 23 मिनट पहले
Pound Slides On Disappointing U.K. GDP Data
The British pound weakened against other major currencies in the European session on Friday, after data showed a sharp slowdown in the third quarter growth.
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