Germany's DAX Stock Index Fell

Forex News

European stock markets declined, as investors were not impressed by European corporate earnings. The German DAX stock index fell 0.1% today after yesterday’s decline 1.0%. The DAX is trading at 13.365.50 level.

Retail sales in the Eurozone rose sharply in September, pointing to an improvement in consumer spending. The volume of retail sales increased by 0.7%. Markets hope for high consumer spending in the euro area in the fourth quarter, given the robust economy of Germany and the higher economic conditions in the euro area.

The US President Donald Trump wants Congress to pass a law on the revision of the tax code before the end of the year. Tax reform is a key element of Trump's internal platform. Most Democrats opposed this proposal. The bill would reduce corporate taxes from 35% to 20%.