Closing changes for the main European bourses:
The DAX stalled out at the 61.8% retracement of the June rout and is now at a five-week low. This doesn’t look promising:
The event of note for Friday, 26 August 2022, is Powell’s speech at 10am NY time (1400 GMT).
Reuters citing a US official at the Department of Transport (DOT).
The US has suspended 26 flights operated by Chinese carriers.
In response to China limiting some US flights citing COVID measures.
The major US indices are pricing at the session highs ahead of the Fed Chairs Jackson Hole speech tomorrow at 10 AM ET, and more hawkish comments from Fed officials today.
The gains are led by the Nasdaq indice which got a boost from lower yields. After two bad auctions on Tuesday and Wednesday, buyers showed up for the 7 year note auction which helped to push yields lower and boost risk on sentiment.
The final numbers are showing:
