CAC 40 gains on optimism over Fed rate cut

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) – French shares rose slightly on Tuesday ahead of the final eurozone inflation figures due later in the day.

The benchmark CAC 40 rose 12 points, or 0.2 percent, to 7,514, after rising 0.7 percent in the previous session.

The dollar hovered around a seven-month low on bets the US Federal Reserve will cut interest rates from next month.

Minneapolis Federal Reserve Chairman Neel Kashkari said in an interview with the Wall Street Journal that he is open to cutting rates in September because of the increasing likelihood of a weakening labor market.

Traders are looking to the release of the July FOMC minutes and Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium this week for additional clues on the outlook for interest rates.

Copyright(c) 2024 RTTNews.com. All rights reserved.

Copyright RTT News/dpa-AFX