European Stocks Waver Amid U.S. Rate Speculation
European stocks remained largely unchanged as investors evaluated U.S. interest rate signals and trade discussions. The STOXX 600 index ended slightly up, with Germany's DAX gaining 0.6%. Focus is on a potential tariff pause, with the U.S.-UK deal making slight progress compared to EU's negotiations with Washington.
European stocks oscillated throughout Thursday, concluding nearly flat as investors considered recent indications on the U.S. interest rate path. The STOXX 600 index closed with a minor rise of 0.09%, reaching 537.48 points. Various regional markets mirrored this trend, with Germany's DAX standing out with a 0.6% increase.
Federal Reserve Chair Jerome Powell, in congressional testimony, suggested inflationary pressures linked to Trump's tariffs might have prevented further rate cuts. Meanwhile, President Trump intensified criticism of Powell and hinted at potential replacements, amid reports suggesting a shake-up could occur by September.
Attention is now on the approaching July 9 U.S. tariff pause deadline. With trade discussions frequently stalled, the European Union seeks its own agreement with Washington. EU leaders face a critical decision, either opting for a swift accord or preparing for tougher negotiations.
(With inputs from agencies.)
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