European stocks open mixed after Fed delays rate cuts

The main European markets have started the month of May with a mixed sign, after the president of the US Federal Reserve (Fed), Jerome Powell, has delayed the first rate cut due to the “lack of progress” in the reduction of inflation.

At the opening this Thursday, Paris falls 0.78%; Frankfurt, 0.08%; and the Euro Stoxx 50 index, 0.47%; while Milan rises 0.11%; London, 0.21%; and Madrid, 0.57%.

The euro is currently trading at $1.071, while the price of Brent crude oil, the reference price in Europe, rises 0.62% to $83.95.

European stock markets start the month of May with a mixed trend, after being closed yesterday due to the celebration of Labor Day.

Wall Street ended yesterday’s session also mixed, after the Fed kept rates unchanged, in the range of 5.25 to 5.5%, due to the “lack of progress” in reducing inflation.

Regarding the expected reduction in interest rates, Powell assured that this year’s data has not given the central bank “enough confidence” to cut them, although he described it as “unlikely” that the next step of the US central bank will be an increase in interest rates. the cups.

After the Fed, the European market will be awaiting the publication of more results today, while the final manufacturing PMI data for the month of April will be known in the eurozone and in several European countries.

On the other hand, in the US the initial claims for unemployment benefits will be published, waiting for the official American employment report to be released tomorrow.