Global stock prices were mixed on Thursday, but the US dollar continued to slide after a speech by US Federal Reserve Chairman Jerome Powell in which he said the Fed could shift to a less aggressive monetary policy in the fight against the inflation.
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Powell said in a speech at the Brookings Institution in Washington on Wednesday that the FRS could soften its stance on raising interest rates as early as December, when the next meeting of FRS policymakers is scheduled.
“Still too high inflation forces the FRS to continue raising interest rates. But the pace of rate hikes could slow as early as this month,” said Convera analyst Joe Manimbo.
Investors await the release of US jobs data on Friday. According to analysts, 200,000 new jobs were created in the US economy in November, while unemployment remained stable at 3.7%.
Stock indices in Frankfurt and Paris rose after Thursday’s release from the EU statistics office”EurostatUnemployment in euro area member states averaged 6.5% in October, which is a record high, according to data.
On Thursday, the Dow Jones Industrial Average fell 0.6% to 34,395.01 points, the Standard & Poor’s 500 index fell 0.1% to 4,076.57 points and the “Nasdaq Composite” increased 0.1% to 11,482.45 points.
London’s FTSE 100 fell 0.2% to 7,558.49 on Thursday, Frankfurt’s DAX extension 30 index rose 0.7% to 14,490.30 points, while the CAC 40 index of the Paris Stock Exchange rose 0.2% to 6,753.97 points.
WTI crude oil rose 0.8% to $81.22 a barrel in electronic trading on the New York Stock Exchange on Thursday. The price of “Brent” crude on the London Stock Exchange fell by 0.1% to 86.88 dollars a barrel.
The euro rose against the US dollar on Thursday from $1.0406 to $1.0529/euro, the British pound rose from $1.2058 to $1.2251/pound and the US dollar fell against the Japanese yen from 138.07 to 135.34 yen per dollar. The euro fell against the British pound from 86.30 to 85.91 pence to the euro.
