German DAX Stock Index Has Improved by 0.33%
European stock indexes rose today, while investors were waiting for news on tax reform in the US and comments by the next chairman of the Federal Reserve. The German DAX stock index rose 0.33% and is trading at 13.042.50 level.
The euro and stock markets remain stable, despite the political crisis in Germany. Markets hope that other elections can be avoided, as the SPD (socialist democrats) agreed to hold coalition negotiations with the CDU Angela Merkel. But still, if negotiations with the SPD do not make progress, the likely outcome will be other early elections in Germany.
Jerome Powell will speak at the Senate Banking Committee. The US economy continues to grow, while inflation remains well below the Fed's goal of 2%. It is expected, that Powell will keep Janet Yellen's cautious monetary position, which was marked by incremental interest rate increases.