German stocks were notably lower on Friday after Federal Reserve Chairman Jerome Powell damped market expectations of quick interest rate cuts. Investors shrugged off some positive data on the domestic front, which showed Germanys wholesale prices continued to decline in October, though at a slower pace. Destatis reported that German wholesale prices decreased 0.8 percent...
The Canadian dollar weakened against other major currencies in the European session on Friday, as crude oil prices declined amid worries about oversupply by growing U.S. crude stocks. Data from the Energy Information Administration (EIA) showed crude oil inventories in the U.S. climbed by 2.1 million barrels last week, matching the increase seen in the...
French stocks traded lower on Friday after Federal Reserve Chair Jerome Powell signalled a cautious approach on rate cuts, given persistent inflationary pressures. Powell said the U.S. central bank does not need to rush to lower interest rates and can approach decisions carefully. The benchmark CAC 40 was down 30 points, or 0.4 percent, at...
U.K. stocks were little changed on Friday and the pound hovered near a four-month low after data showed Britains economy contracted unexpectedly in September and growth slowed to a crawl over the third quarter. In a blow to Chancellor Rachel Reeves, the U.K. economy grew only marginally in the third quarter on weak services output,...
European stocks declined on Friday as Federal Reserve Chair Jerome Powell signaled a cautious approach on rate cuts and mixed Chinese data stoked concerns about slowing demand in the country. Powell said the U.S. central bank does not need to rush to lower interest rates and can approach decisions carefully, given persistent inflationary pressures. Data...
A report released by the Federal Reserve Bank of New York on Friday showed regional manufacturing activity has seen a substantial turnaround in the month of November. The New York Fed said its general business conditions index skyrocketed to a positive 31.2 in November from a negative 11.9 in October, with a positive reading indicating...
With the effects of recent hurricanes and the strike at Boeing (BA) continuing to weigh on growth, the Federal Reserve released a report on Friday showing U.S. industrial production decreased in line with economist estimates in the month of October. The report said industrial production fell by 0.3 percent in October after sliding by a...
Partly reflecting a jump in sales by motor vehicle and parts dealers, the Commerce Department released a report on Friday showing retail sales in the U.S. increased by slightly more than expected in the month of October. The Commerce Department said retail sales rose by 0.4 percent in October after growing by an upwardly revised...
The Labor Department released a report on Friday showing an unexpected increase by import prices in the U.S. in the month of October. The report said import prices rose by 0.3 percent in October after falling by 0.4 percent in September. Economists had expected import prices to edge down by 0.1 percent. The unexpected increase...
A report released by the Federal Reserve Bank of New York on Friday showed regional manufacturing activity has seen a substantial turnaround in the month of November. The New York Fed said its general business conditions index skyrocketed to a positive 31.2 in November from a negative 11.9 in October, with a positive reading indicating...