(Bloomberg) — European stocks started the week on a positive note, tracking Friday’s gains on Wall Street and a rally in Asia after China announced support for its equities market.
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The Stoxx Europe 600 index climbed about 0.6% at the open. Technology stocks led the advance as traders assessed comments from Federal Reserve Chair Jerome Powell and European Central Bank President Christine Lagarde at Jackson Hole on Friday that didn’t change the outlook for interest rates. Trading volumes in Europe may be subdued throughout the day with UK markets closed for a bank holiday. US equity futures edged higher, while Treasury yields dipped and the dollar was steady.
US stocks rose and Treasury yields jumped on Friday after Powell stuck to the script in his Jackson Hole speech, saying that the Fed is “prepared to raise rates further if appropriate,” even as he stressed that the central bank would “proceed carefully,” guided by economic data. Lagarde,…
2023-08-28 02:19:27
Article from finance.yahoo.com
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