Markets

DAX Edges Lower Ahead Of Powell Speech

(RTTNews) - German stocks edged lower on Thursday as investors awaited Fed Chair Jerome Powell's Jackson Hole speech for hints of the bank's strategy on inflation and monetary policy. Analysts expect that Powell will outline dovish measures including a move toward average inflation targeting in which inflation above the central bank's usual 2 percent target would be tolerated and even desired.

Rising U.S.-China tensions over the South China Sea also remained on investors' radar.

The benchmark DAX slid 35 points, or 0.3 percent, to 13,155 after climbing 1 percent the previous day.

Banks led losses, with Commerzbank declining 1.6 percent and Deutsche Bank falling 0.7 percent.

Online takeaway food group Delivery Hero fell over 1 percent after it announced the acquisition of online grocery service InstaShop.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More