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European stocks ready for mixed open

European stocks began trading in mixed notes on Wednesday as Federal Reserve Chairman Jerome Powell’s remarks to US lawmakers did not include surprises.

Powell has another opportunity to address some issues such as interest rates, unemployment and stimulus on the second day of Congressional testimony later today.

Asian market As long as reflation concerns persist and Iran has implemented US sanctions, it has fallen as it refuses to negotiate directly with the US on a nuclear deal.

Shares in China and Hong Kong have caused regional losses as US President Joe Biden has shown readiness to prevent Canadians from evacuating Beijing.

There is some positive news on the front lines of vaccines, and two separate studies published in the United Kingdom show that vaccines against Covid-19 are effective in reducing disease transmission and hospitalization from the first dose. It has become clear.

The dollar remained low against the pound sterling for nearly three years, while oil prices fell after industry data showed that US oil inventories had risen unexpectedly last week.

Revised Germany’s quarterly national accounts, business French sentiment figures are scheduled for the second half of the session, marking a bright day for European economic news.

Across the Atlantic, the second day of Powell’s testimony may get some attention, along with a report on new home sales in January.

US stocks closed the mix overnight, curbing previous losses, as investors supported Powell’s reassuring comments on inflation and interest rates.

Powell said interest rates remained near zero and the Fed will continue to buy assets at current interest rates until “substantial further progress” is made towards the goal of maximum employment and price stability.

The Dow Jones Industrial Average and the S & P 500 rose about 0.1%, while the tech-heavy Nasdaq Composite index fell 0.5%.

European markets fell almost on Tuesday after a volatile session on concerns over rising bond yields.

Pan-Europe Stoxx600 eased 0.4%. Germany’s DAX fell 0.6%, while France’s CAC 40 index and the UK’s FTSE 100 both rose 0.2%.

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European stocks ready for mixed open

Source link European stocks ready for mixed open

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