The Federal Reserve and the European Central Bank are shutting down global stocks. Portuguese Bond Yield at 2-month High – Markets in a Minute
Europe is on positive ground. The natural resource sector attracts Stoxx 600
European stocks started in the green for the third day in a row as investors prepared for the expected speech by US Federal Reserve Chairman Jerome Powell at Jackson Hole.
The Stoxx 600 – the European benchmark – rose 0.16% to 434.04 points, supported mainly by the natural resources and technology sectors (1.54% and 0.72%), respectively.
In other European markets, Amsterdam’s AEX rose 0.11%, France’s CAC-40 rose 0.34%, Germany’s DAX rose 0.37%, and Germany’s DAX rose 0.37%. FTSEMIB values 0.30%. On the other hand, the Spanish caribou rose 0.40%.
The head of the US Monetary Authority will speak at 3pm (Lisbon time), as investors focus on his comments, hoping for clues about the pace of the next rate hike, at the Federal Reserve’s September meeting. The energy crisis in Europe is also increasing investors’ appetite for risk.
“We are eager to know how to do it [Powell] “He sees the economy, inflation, risks, and if that somehow indicates how many basis points the next Fed hike will have to,” said Jaime Espego, fund manager at Emmantia Capital.
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