On Friday, German stocks experienced a modest rise as investors eagerly anticipated Federal Reserve Chair Jerome Powell’s address at the Jackson Hole symposium, expected to confirm the onset of U.S. interest rate cuts in September.
With the specter of a recession casting a shadow over the economy and inflationary pressures easing, market expectations are set on the U.S. Federal Reserve enacting three quarter-point rate cuts during each of the last three meetings in 2024.
The benchmark DAX index increased by 71 points, or 0.4%, reaching 18,564, following a 0.2% gain in the prior session.
However, Infineon Technologies saw a decline of 1.2% after agreeing to a settlement of 753.5 million euros ($837.21 million) with the insolvency administrator of Qimonda AG, concluding a long-standing legal dispute.
