Investors were eagerly anticipating signals from Fed Chair Jerome Powell regarding potential interest rate cuts, but their hopes were dashed. The stock markets reacted with subdued enthusiasm, displaying signs of fatigue. European investors also expressed disappointment as clear indications for rate cuts were lacking.
Key details and facts:
- Stock markets exhibit disillusionment following Powell’s remarks
- US Federal Reserve Chair Powell refrains from providing clear signals on rate cuts
- European investors react with disappointment
- Insolvencies in the first half of the year surpass last year’s levels but with a slight decline
- The Euro weakens in US trading
- Oil prices retreat after the impact of hurricanes
- Corporate updates from Volkswagen, Hapag-Lloyd, Oracle, Boeing, Dyson, Shein, Porsche, OMV, BP
Conclusions and opinions:
- Investors remain cautious due to the uncertain future interest rate policy
- Companies like Volkswagen and Porsche revise down their earnings forecasts
- Hapag-Lloyd raises its earnings forecast
- Corporate updates reflect mixed developments in the market