{"id":12369,"date":"2021-07-29T09:00:59","date_gmt":"2021-07-29T09:00:59","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/07\/29\/dax-edges-higher-after-fed-statement\/"},"modified":"2021-07-29T09:00:59","modified_gmt":"2021-07-29T09:00:59","slug":"dax-edges-higher-after-fed-statement","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/07\/29\/dax-edges-higher-after-fed-statement\/","title":{"rendered":"DAX Edges Higher After Fed Statement"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> German stocks edged up slightly on Thursday after Fed Chair Jerome Powell said the <span class=\"landLinks\">economy<\/span> is &#8220;still a ways off&#8221; from reaching a standard of &#8220;substantial further progress&#8221; to withdraw stimulus measures.<\/p>\n<p>In another development, the U.S. Senate has voted to push forward a bipartisan infrastructure plan amounting to $550 billion, which includes funding for roads, bridges, broadband and other physical infrastructure.<\/p>\n<p>The five-year spending package would be paid for using COVID-19 relief funds, illegally paid unemployment benefits during the crisis and unutilized federal unemployment funds.<\/p>\n<p>The benchmark DAX inched up 22 points, or 0.1 percent, to 15,592 after ending 0.3 percent higher on Wednesday.<\/p>\n<p>MorphoSys AG rallied 2.4 percent. The biotech company said it regained the momentum in Monjuvi sales and the momentum will likely continue into Q3.<\/p>\n<p>Automaker Volkswagen edged up slightly after raising its profit margin target. <\/p>\n<p>Sportswear company Puma declined 1.4 percent after voicing concerns about the short-term impact of the <span class=\"landLinks\">coronavirus<\/span> pandemic on its supply chain.<\/p>\n<p>In economic news, Germany&#8217;s unemployment declined more than expected in July, reports said citing data published by the Federal Labor Agency.<\/p>\n<p>The unemployment rate fell to 5.7 percent in July from about 5.9 percent in June. The rate was forecast to fall marginally to 5.8 percent.<\/p>\n<p>The number of people out of work decreased 91,000 from June, while economists&#8217; had forecast a moderate fall of 28,000.<\/p>\n<p>Data released by Destatis earlier in the day showed that the jobless rate remained unchanged at an adjusted 3.7 percent in June. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>DAX Edges Higher After Fed Statement<\/a><br \/>\n<br \/>2021-07-29 09:00:59<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>German stocks edged up slightly on Thursday after Fed Chair Jerome Powell said the economy is &#8220;still a ways off&#8221; from reaching a standard of &#8220;substantial further progress&#8221; to withdraw&#8230;<\/p>\n","protected":false},"author":2,"featured_media":12370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-12369","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/12369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=12369"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/12369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/12370"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=12369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=12369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=12369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}