DAX Edges Higher Despite Fed Worries
(RTTNews) - German stocks rose on Friday, though the upside remained capped by hawkish comments from more U.S. Federal Reserve officials.
St Louis Fed President James Bullard said the central bank needs to keep raising interest rates as its tightening has only 'limited effects on observed inflation'.
Separately, Minneapolis Fed Bank President Neel Kashkari said the U.S. central bank should not stop rate hikes until it's clear that inflation has peaked.
The benchmark DAX rose 62 points, or 0.4 percent, to 14,328 after edging up 0.2 percent in the previous session.
Lender Commerzbank gained 1 percent and peer Deutsche Bank added half a percent as the European Central Bank begins the biggest withdrawal of cash from the euro zone's banking system in its history.
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Swiss Market Extends Winning Streak, Ends Moderately Higher
The Switzerland market closed on a firm note on Thursday, extending recent gains, after data showed an improvement in Swiss business confidence. An interest rate cut by the European Central Bank and largely positive moves in other European markets aided sentiment.
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5h 15min ago
ECB To Cut Rates Again As Lagarde Sees Disinflation "Well On Track"
The European Central Bank lowered its interest rates for a fourth policy session in a row on Thursday and is likely to opt for more easing going forward as policymakers seek neutrality amid a slump in Eurozone growth and expectations for inflation to return to target over the course of the year.
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5h 23min ago
European Stocks Close On Firm Note After ECB's Rate Decision
European stocks closed higher on Thursday with investors reacting to a slew of earnings and economic data, and the European Central Bank's decision of a 25-basis point interest rate cut.
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5h 48min ago
U.S. Dollar Falls As Economic Growth Slows More Than Expected
The U.S. dollar declined against its most major counterparts in the New York session on Thursday, after a data showed that the nation's economic growth fell short of economist estimates in the fourth quarter of 2024.
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6h 26min ago
TSX Rises To Record High On All-round Buying
The Canadian market is up firmly in positive territory a little before noon on Thursday with stocks from several sectors moving higher on strong buying support.
Mining stocks are up sharply following a notable increase in metal prices, and technology stocks are gaining in strength, tracking impressive earnings updates from a few big name U.S. tech companies.
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7h 25min ago
U.S. Pending Home Sales Unexpectedly Pull Back Sharply In December
After reporting four straight monthly increases by U.S. pending home sales, the National Association of Realtors released a report on Thursday showing pending home sales unexpectedly pulled back sharply in the month of December. NAR said its pending home sales index plunged by 5.5 percent to 74.2 in December after jumping by 1.6 percent to a downwardly revised 78.5 in November.
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8h 42min ago
U.S. Economic Growth Slows More Than Expected In Q4
U.S. economic growth in the fourth quarter of 2024 fell short of economist estimates, according to a report released by the Commerce Department on Thursday. The report said gross domestic product shot up by 2.3 percent in the fourth quarter after surging by 3.1 percent in the third quarter. Economists had expected GDP to jump by 2.6 percent.
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9h 9min ago
U.S. Jobless Claims Dip More Than Expected To 207,000
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended January 25th. The Labor Department said initial jobless claims fell to 207,000, a decrease of 16,000 from the previous week's unrevised level of 223,000. Economists had expected jobless claims to slip to 220,000.
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9h 24min ago
