European stock markets rise as Fed officials downplay inflation concerns
European stock markets followed Wall Street’s overnight rally Federal Reserve’s officials fended off growing inflation concerns among investors.
Germany’s DAX futures contract was up 0.1%. The FTSE 100 futures contract in the U.K. improved by 0.4%. CAC 40 futures in France jumped 0.6%.
On Thursday, all three major U.S. stock indexes posted massive gains, recovering from lowly three straight sessions over worries of rising inflation. The inflation hike may cause the Federal Reserve to abate its ultra-easy monetary policies earlier than suspected. However, Fed Governor Christopher Waller indicated that rates won’t increase for quite some time.
The blue-chip Dow Jones Industrial Average edged up 1.3%, or over 400 points, higher. The S&P 500 added 1.2%, its biggest percentage gain in more than a month. The Nasdaq Composite rose 0.7%.
Asian markets followed suit, with Japan’s Nikkei leading the rebound as it posted a 2% gain. Europe is expected to continue to pattern.