DAX Rises As Yields Dip On Fed Rate Cut Bets
(RTTNews) - German stocks eked out modest gains on Thursday, Treasury yields dipped, and the euro held steady above $1.10 as signs of slowing U.S. producer and consumer price inflation hinted at a potential Fed rate cut at the central bank's September policy meeting.
Investors shrugged off mixed economic activity data from China and eyed U.S. reports on weekly jobless claims, retail sales and industrial production later in the day for more insights about the health of the world's largest economy.
The benchmark DAX was up 62 points, or 0.3 percent, at 17,947 after rising 0.4 percent the previous day.
In corporate news, renewable energy producer Encavis was marginally higher after reaffirming its operational guidance for 2024.
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Gold Futures Settle Modestly Higher For The Session, Gain 1% In Week
Gold futures settled higher on Friday despite a slightly stronger dollar, as rising predictions of a Trump presidency as well as geopolitical tensions in the Middle East pushed up demand for the safe-haven yellow metal.
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4h 58min ago
Swiss Market Ends Slightly Higher
The Switzerland market ended slightly up on Friday after a choppy session as investors largely refrained from making significant moves due to a lack of triggers.
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5h 33min ago
Major European Markets Close Slightly Lower
European stocks closed slightly lower on Friday with investors largely reacting to quarterly earnings results, and assessing the outlook for growth in the wake of recent economic data.
Persisting worries about tensions in the Middle East and uncertainty about the outcome of the upcoming U.S. presidential election weighed a bit on stocks.
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5h 52min ago
Canadian Dollar Weakens In Cautious Trade
The Canadian dollar declined against its major counterparts in the New York session on Friday, as investors became cautious ahead of the U.S presidential election, jobs data and key tech earnings.
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6h 45min ago
Canadian Market Modestly Lower In Lackluster Trade
Canadian stocks are turning in a mixed performance on Friday with investors digesting a slew of Canadian earnings updates from the U.S. and Canada, as well as the latest batch of economic releases.
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7h 0min ago
U.S. Consumer Sentiment Unexpectedly Improves To Six-Month High In October
Consumer sentiment in the U.S. unexpectedly improved in the month of October, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for October was upwardly revised to 70.5 from a preliminary reading of 68.9. Economists had expected the index to be upwardly revised slightly to 69.0.
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9h 11min ago
U.S. Durable Goods Orders Fall More Than Expected As Aircraft Demand Slumps
Reflecting a continued slump by orders for transportation equipment, the Commerce Department released a report on Friday showing new orders for U.S. manufactured durable goods fell by more than expected in the month of September. The Commerce Department said durable goods orders slid by 0.8 percent in September, matching a revised decrease in August.
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9h 38min ago
European Stocks Turning In Mixed Performance In Cautious Trade
European stocks are turning in a mixed performance Friday afternoon with investors largely reacting to corporate earnings updates, the latest batch of regional economic data.
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9h 47min ago
