The US stock market opened slightly lower today. European stocks were also symbolically below zero in the late afternoon of Wednesday, if you judge the behavior of the Stoxx 600 index.
Market participants continue to try to survive good US economic data, which dashes hopes for a more immediate and decisive lowering of the price of the currency.
US Federal Reserve Chairman Jerome Powell is scheduled to speak again later today. Then his every syllable will be captured in connection with the latest turns in the economy.
Investors quickly sold off shares of Intel Corporation. This was linked to news that the company was losing business to its Asian rivals. Investors continued to punish Tesla stock as well.
Any talk of not cutting rates was somewhat cooled by euro zone inflation data. Namely, in March, the region’s annual inflation dropped to 2.4%. A month earlier it was at 2.6%. Likewise, economists previously predicted on average that the inflation of the euro monetary region in March would be measured a little higher – at the 2.5% mark. With such a decrease in inflation in the eurozone, the European Central Bank’s (ECB) reduction in euro rates in June looks quite possible. In fact, one could argue that the ECB has had a much better case for cutting interest rates faster than the US and its Federal Reserve for a long time. It could be so in the end.
Today, Baltic shares hovered a little lower, where the Baltic Benchmark index fell by almost 0.2%. From the news of the listed companies, the news that the chairman of the board of Enefit Green, Avo Karmas, will resign from his position. Enefit Green share price decreased by 0.2% today. This year it has decreased by 10% and in 12 months – by 28%. In the last quarter of the year, this company, which is actively listed on the stock exchange, worked with almost a half less profit than a year earlier.
