DAX Rises On Powell Comments
(RTTNews) - German stocks were seeing modest gains on Wednesday after Federal Reserve Chair Jerome Powell said that "disinflation has begun" but is going to take time.
The benchmark DAX rose 72 points, or half a percent, to 15,393 after declining 0.2 percent on Tuesday.
Tech stocks traded higher, with Infineon rising 1 percent.
Utility E. ON advanced 1.7 percent after saying it likely exceeded its own profit outlook in 2022.
Siemens Energy gained 1.2 percent, a day after lowering guidance for 2023.
Reinsurer Hannover Re rose 1.2 percent despite reporting renewed premium volume slightly below the previous year.
Asian stocks ended on a mixed note earlier today as lingering U.S.-China tensions offset investor optimism over an easing of U.S. rate hikes.
U.S. stock futures dipped slightly after President Joe Biden called for a new minimum tax targeting billionaires in his State of the Union address Tuesday night.
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