DAX Little Changed As Markets Brace For US Election
2024-10-30
4484
(fxcue news) - German stocks were little change on Monday due to persisting Middle East tensions and investor anxiety ahead of this week's U.S. presidential election and the Federal Reserve's interest-rate decision.
With just 1 day until the U.S. elections, over 75 million early votes have already been cast, according to University of Florida estimates.
Voters will determine whether the next president enters office with a friendly Congress or a hostile one.
If control of the U.S. House of Representatives and Senate is divided, it would likely mean a maintaining of the status quo.
The U.S. Federal Reserve will announce its interest rate decision on Thursday, followed by Fed. Chair Jerome Powell's press conference.
Markets expect the U.S. central bank to cut interest rates by 25 bps amid economic contradictions, following a supersize 50 basis point move in September.
The dollar ticked lower as weaker than expected U.S. jobs data pointed a cooling labor market.
The benchmark DAX was marginally lower at 19,249.35 after climbing 0.9 percent on Friday.
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