Stock update: Jerome Powell message is a key


The stock exchange in Europe is expected to start on Wednesday. Stock exchanges with small results also appear to be opening. All eyes are on the President of the Federal Reserve (Fed) Jerome Powell who will make a statement to the US House of Representatives later in the day. Investors hope that Powell will provide more clarity about a possible interest step later this month.

On the trade front, the United States and China have resumed high-level consultations on the trade conflict between the two economic superpowers. According to Larry Kudlow, economic adviser to the White House, the talks were constructive and both parties discussed a personal meeting. He did warn, however, that no miracles can be expected around a trade deal.

At the Damrak, shareholders of retail property company Wereldhave have approved the appointment of Matthijs Storm as the new top man. He will start his new position on 1 August. His term runs until April 2023. Until recently, Storm was investment director for real estate at Kempen Capital Management Investments.

New Sources Energy (NSE) suffered an operational loss (EBITDA) of 82,000 euros in the first nine months of its broken financial year. The empty stock market shell had no income. The loss is lower than in the same period a year earlier.

Bayer is in the spotlight in Frankfurt. According to Reuters news agency, the German chemical giant is talking to the American Elanco Animal Health about an amalgamation of animal health activities. The Bayer stake could yield up to 8 billion euros. Bayer sells veterinary products for both pets and cattle.

The European stock markets suffered another loss on Tuesday. The AEX index closed 0.5 percent lower at 566.28 points and the MidKap fell 1.6 percent to 786.35 points. The stock exchanges in London, Paris and Frankfurt fell to 0.9 percent. Wall Street closed mixed. The Dow-Jones index ended up 0.1 percent lower at 26,783.49 points. The broad S&P 500 index won 0.1 percent and the Nasdaq technology grant gained 0.5 percent.

The euro was worth $ 1,1207 against $ 1,1209 a day earlier. A barrel of American oil became 1.4 percent more expensive at $ 58.65. The price of Brent oil climbed 1 percent to $ 64.79 a barrel.

By: Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by

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