DAX Rises Despite Weak Retail Sales Data
(RTTNews) - German stocks rose on Thursday as Fed Chair Jerome Powell signaled a potential slowing of interest rate hikes and two major Chinese cities relaxed some COVID restrictions in efforts to reduce public discontent.
Investors looked past data showing that German retail sales fell more than expected in October as a result of concerns surrounding inflation.
Retail sales contracted by 5 percent year-on-year in October, the federal statistics office said. That was well below forecasts for a 2.8 percent decline. Sales fell 2.8 percent month-on-month.
The benchmark DAX was up 76 points, or half a percent, at 14,473 after gaining 0.3 percent the previous day.
Tech stocks led the surge, with Infineon Technologies rising more than 3 percent.
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TSX Tumbles More Than 1% As Stocks Fall On Tariff Concerns
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German Inflation Unexpectedly Eases In January
Consumer price pressures in Germany slowed unexpected at the start of the year amid a sharp slowdown in food inflation, offering some relief for the European Central Bank that lowered interest rates a day earlier and plan to continue easing to boost the single currency economy that came to a standstill in the final three months of 2024.
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Swiss Markets Ends Slightly Weak
The Swiss market edged down marginally on Friday with stocks paring gains in late afternoon trade as investors chose to take some profits following a long winning streak. Data showing a stronger than expected jump in the nation's retail sales aided sentiment.
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14g 51 minut temu
Major European Markets Close Slightly Higher
European stocks saw some profit taking in late afternoon trades on Friday, but the major markets in the region still managed to close slightly up.
Investors assessed recent economic data, earnings news, and monetary policy announcements of the Federal Reserve and the European Central Bank.
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15g 6 minut temu
Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher
The Canadian market is up in positive territory a little past noon on Friday with the benchmark S&P/TSX Composite Index hovering near record high, thanks largely to strong buying in the technology sector after encouraging earnings updates from big name U.S. companies such as Apple Inc. and Meta Platforms.
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U.S. Dollar Advances Amid Trump's Tariff Threats
The U.S. dollar firmed against its most major counterparts in the New York session on Friday amid concerns about President Donald Trump's renewed pledge to slap 25 percent tariffs on imports from Canada and Mexico on February 1.
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ECB Surveys Show Rising Eurozone Inflation Expectations
Euro area consumers' inflation expectations for the next 12 months increased for a third straight month in December, while professional forecasters revised up the projections for this year and next, separate surveys by the European Central Bank showed on Friday.
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Chicago Business Barometer Increases But Still Indicates Contraction
MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.
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18g 43 minut temu
