DAX Holds Steady In Lackluster Trade
(RTTNews) - German stocks held largely steady on Monday ahead of a busy week of corporate earnings and central bank policy meetings.
Amazon, Apple, Meta and Microsoft are among the top U.S. companies that will release their quarterly earnings results this week after Tesla and Alphabet disappointed markets.
This will also be marked by interest rate decisions from three major central banks: the Bank of England (BOE), the Federal Reserve (Fed), and the Bank of Japan (BOJ).
The benchmark DAX was up 0.1 percent at 18,439 after gaining 0.7 percent on Friday.
In corporate news, Merck rallied 3.4 percent after the maker of pharmaceuticals, lab gear and specialty chemicals raised its forecast for the group.
Conglomerate Thyssenkrupp fell 1.3 percent after lowering its 2024 outlook.
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TSX Ends Notably Lower As Stocks Drop On Interest Rate Concerns
The Canadian market closed notably lower on Friday, hurt by rising bond yields, and fading optimism about interest rate cuts by the Federal Reserve after data showed stronger-than-expected growth in U.S. non-farm payroll employment.
Canadian employment data too came in stronger than expected, reducing prospects of any significant monetary easing by the Bank of Canada.
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Dollar Climbs Higher After Buoyant Jobs Data
The U.S. dollar firmed against its major counterparts on Friday amid fading hopes of further reductions in interest rates after data from the Labor Department showed stronger-than-expected growth in non-farm payroll employment in the month of December.
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U.S. Stocks Close Sharply Lower As Strong Jobs Data Raises Interest Rate Concerns
U.S. stocks tumbled on Friday due to heavy selling across the board as buoyant non-farm payroll data raised concerns that the Federal Reserve will likely hold interest rates at current levels or slow down the pace of reductions. Rising bond yields hurt as well.
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Swiss Market Ends Notably Lower
The Switzerland market settled notably lower on Friday, in line with markets across Europe, as upbeat U.S. jobs data raised concerns that the Federal Reserve will likely hold interest rates unchanged from current levels, or go slow on interest rate cuts this year. Data showing an increase in Swiss unemployment weighed as well.
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U.S. Dollar Firms As Strong Jobs Data Dampens Rate Cut Hopes
The U.S. dollar climbed against its most major counterparts in the New York session on Friday, as stronger-than-expected jobs data for December strengthened expectations that the Federal Reserve will hold rates steady for sometime.
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European Stocks Close Lower As Strong U.S. Jobs Data Fuels Interest Rate Concerns
European stocks closed lower on Friday after stronger-than-expected U.S. jobs data raised concerns that the Federal Reserve will hold interest rates at current levels for longer. Higher Euro zone bond yields, and potential tariff hikes by the U.S. weighed as well on investor sentiment.
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Canadian Stocks Tumble As Upbeat Jobs Data Raises Interest Rate Concerns
Canadian stocks are down sharply on Friday with stronger-than-expected U.S. jobs data raising concerns that the Federal Reserve will likely hold interest rates unchanged from current levels for sometime.
Also, a buoyant Canadian employment reports has dimmed the prospects for further easing by the Canadian central bank for now.
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U.S. Consumer Sentiment Edges Lower In January As Inflation Expectations Surge
Consumer sentiment in the U.S. has unexpectedly seen a modest deterioration in the month of January, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index edged down to 73.2 in January from 74.0 in December. Economists had expected the index to inch up to 74.5.
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