DAX Index Fell Despite Growth of German Factory Orders
The European stock indexes fell slightly today. The German DAX stock index fell by 0.22% and is trading at 13.450.50. German Factory Orders increased by 1.0% mom in September, but growth was slower than the August increase of 4.1%. Nevertheless, economists predicted a decline in the indicator by 1.5%.
Eurozone Services PMI fell to 55.0 in October from 55.8 in September. The preliminary estimate was 54.9. The indicator shows growth for 51 consecutive months. German Services PMI declined to 54.7, while the economists' forecast was 55.5 points.
Jerome Powell became the new head of the US Federal Reserve. It is expected, that Powell will pursue a course with monetary policy, which was marked by gradual and small increases in rates since December 2015.