Market: the wind in its sails after Jerome Powell


(CercleFinance.com) – European stock markets are on the rise (+0.8% in London and Frankfurt, +0.6% in Paris), in the wake of Wall Street the day before, where investors had welcomed remarks made by the President of the Fed during the session.

If Jerome Powell ‘warned investors that strong economic data could push the Fed to raise rates even more’, Wells Fargo believed that he ‘did not change his tone radically from last week’s speech’.

‘He remained relatively hawkish in stating that the central bank still had a long way to go to bring inflation back to the 2% target, but acknowledged that inflation had recently fallen’, pointed out the Californian bank.

‘Jerome Powell was no more aggressive than before in signaling that further increases in the cost of money would be needed to keep inflation on a downward path and that this will take time’, judge-t-on at Kiplink.

No notable macroeconomic data was scheduled for Wednesday in Europe, so attention can focus on the many publications of corporate results in the morning, most often viewed favorably by operators.

Thus, they welcome those of Equinor (+7%) on the OMX, ABN Amro (+7%) and AkzoNobel (+5%) in Amsterdam, and secondarily E.ON (+2%). ) in Frankfurt, but are abandoning those of Volkswagen (stable in Frankfurt) and especially of TotalEnergies (-3% in Paris).

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