The DAX Index Rose on Eurozone Economic Growth
DAX pared yesterday’s losses, having lifted 0.67% to 12,277.50. European stocks recovered with Commerzbank growing 1.24% and Deutsche Bank rising 0.24%. German Preliminary Q4 Gross Domestic Product fell to 0.6%. Final Consumer Price Index was down 0.7%. Eurozone Flash Gross Domestic Product of the fourth quarter stayed at 0.6%. Today, the US will present Consumer Price Index and retail sales.
Investors remain concerned after the period of severe volatility at the stock market. The majority believes that this was a reaction to potential policy changes, particularly the Fed rate hike. Yesterday, Jerome Powell delivered his first speech as the new Fed Chair. Powell stated that economy was in a good shape for the first time in ten years and added that Fed’s interest rate and balance sheet policies were well handled. Overall, he pledged to "preserve the essential gains in financial regulation while seeking to ensure that our policies are as efficient as possible."