DAX Slips On Hawkish Fed
(RTTNews) - German stocks slipped into the red on Thursday after Fed forecasts showed the U.S. central bank sees its benchmark interest rate reaching 4.4 percent by end-2022 and rising even further in 2023.
The Bank of England meets later in the day, with economists expecting a 75-bps rate hike.
Earlier today, the SNB hiked borrowing costs by 75 basis points to 0.5 percent, up from the previous level of -0.25 percent set in June.
The benchmark DAX was down 40 points, or 0.3 percent, at 12,726 after rising 0.8 percent the previous day.
Tech stocks fell, with Infineon Technologies losing 1.5 percent.
Travel-related stocks were also on the decline, with TUI giving up nearly 1 percent.
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German Economy Stuck In Recession
The German economy shrank for the second straight year in 2024 as the euro area struggles with global headwinds and the political and structural problems on the domestic front. Gross domestic product contracted 0.2 percent in 2024 after a 0.3 percent decline in 2023, Destatis reported Wednesday.
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5h 11min ago
U.S. Dollar Slides Against Majors
The U.S. dollar weakened against other major currencies in the European session on Wednesday.
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5h 15min ago
FTSE 100 Advances Over 0.7% On Surprise Drop In Inflation Rate
U.K. stocks are up firmly in positive territory Wednesday morning, outperforming other major markets in Europe, after data showed an unexpected drop in British consumer price inflation in the month of December.
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5h 47min ago
Pound Rebounds After U.K. CPI Data
The British pound rebounded from recent weakness against other major currencies in the European session on Wednesday, after reacting wildly to data showing that U.K. consumer price inflation moderated unexpectedly in December.
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6h 0min ago
CAC 40 Modestly Higher After Inflation Data
French stocks are modestly higher Wednesday morning with investors digesting the nation's consumer price inflation data, and looking ahead to U.S. inflation report for clues about Fed interest rates.
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6h 8min ago
DAX Rises Nearly 0.5% As Bond Yields Drop Slightly
German stocks are climbing higher on Wednesday thanks to easing bond yields, and data showing an unexpected drop in British inflation. Investors, focusing on quarterly earnings, are also looking ahead to U.S. consumer price inflation data for more clues about Fed interest rates.
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6h 26min ago
Sensex, Nifty End Modestly Higher; Financials Underperform
Indian shares ended Wednesday's session higher, the dollar rally paused, and bond yields dropped after data showed U.S. producer prices rose by slightly less than expected in December, offering temporary relief to investors worried about inflation and interest rates.
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6h 33min ago
FDA Proposes Front-of-package Nutrition Label For Packaged Foods
The U.S. Food and Drug Administration is proposing to require a front-of-package or FOP nutrition label for most packaged foods as part of a government-wide effort in combatting the chronic disease crisis in the United States. If finalized, the proposal would give consumers readily visible information about a food's saturated fat, sodium and added sugars content.
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6h 38min ago
