DAX Drifts Lower Ahead Of ECB Rate Decision
(RTTNews) - German stocks were moving lower on Wednesday and the euro was down for a third day in a row as investors await Thursday's ECB meeting for directional cues.
Markets currently eye two more rate cuts from the euro area's central bank this year amid a weak growth outlook and lower inflation.
The benchmark DAX slipped 0.2 percent to 19,451 after closing 0.1 percent lower the previous day.
Earnings remained in focus, with sportswear giant Adidas tumbling 3.6 percent despite raising its full-year sales and profit guidance.
Dragerwerk declined 3.1 percent. The breathing equipment maker for industries and hospitals registered a decline in preliminary earnings before interest and taxes for the third quarter, reflecting a drop in sales.
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Swiss Stock Market Ticks Higher On Wednesday
The Swiss stock market spent most of Wednesday's trade under water before a late rally nudged it up into positive territory going into the close.
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6h 14min ago
Swiss Franc Declines Against Most Majors
The Swiss franc weakened against its most major counterparts in the New York session on Wednesday.
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7h 13min ago
European Markets Finish Mixed On Tuesday
The major European markets saw late support to finish mixed on Tuesday, shaking off early weakness as investors fretted about potential inflationary pressures arising from U.S. President-elect Donald Trump's proposed tariff policies.
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7h 27min ago
Pound Climbs Against Majors
The pound firmed against its major counterparts in the New York session on Wednesday.
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8h 22min ago
U.S. Pending Home Sales Unexpectedly Increase In October
The National Association of Realtors released a report on Wednesday unexpectedly showing a continued increase by U.S. pending home sales in the month of October. NAR said its pending home sales index jumped by 2.0 percent to 77.4 in October after soaring by 7.5 percent to an upwardly revised 75.9 in September. Economists had expected pending home sales to pull back by 1.3 percent.
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9h 48min ago
U.S. Consumer Price Growth Matches Estimates In October
A closely watched report released by the Commerce Department on Wednesday showed consumer prices in the U.S. increased in line with expectations in the month of October. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in October, matching the uptick seen in September as well as economist estimates.
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9h 51min ago
Chicago Business Barometer Unexpectedly Edges Lower In November
A report released by MNI Indicators on Wednesday showed an unexpected decreased by its reading on Chicago-area business activity in the month of November. MNI Indicators said its Chicago business barometer slipped to 40.2 in November from 41.6 in October, with a reading below 50 indicating contraction. Economists had expected the Chicago business barometer to rise to 44.7.
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10h 8min ago
U.S. Economic Growth Unrevised At 2.8% In Third Quarter
The jump by U.S. economic activity in the third quarter was unrevised compared to the previous estimate, according to a report released by the Commerce Department on Wednesday. The Commerce Department said gross domestic product surged by 2.8 percent in the third quarter, unchanged versus the "advance" estimate issued last month.
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10h 22min ago
