German stocks advanced on Monday even as inflation emerged as a threat to the economic recovery.
Dismissing recent moves in the bond market, U.S. Treasury Secretary Janet Yellen expressed confidence in the continuing recovery from the Covid-19 pandemic.
The infrastructure and social services spending plans the White House is pushing Congress to enact will not fuel inflation in the United States, Treasury Secretary Janet Yellen said Friday.
Traders look ahead to this week’s Federal Reserve meeting for clues on stimulus tapering.
Closer home, investors shrugged off data showing that Germany’s retail sales declined unexpectedly in September.
Germany’s retail turnover decreased 2.5 percent month-on-month in September, reversing a 1.2 percent rise in August, Destatis reported. Economists had forecast a monthly growth of 0.6 percent.
On a yearly basis, retail sales declined 0.7 percent, in contrast to the 0.9 percent increase in the previous month. Sales were forecast to advance 1.8 percent.
The benchmark DAX climbed 120 points, or 0.8 percent, to 15,808 after finishing marginally lower on Friday.
Volkswagen rose about 1 percent amid reports that Skoda Auto is resuming production following a two-week outage caused by a shortage of semiconductor chips.
Market Analysis
DAX Rises On Economic Optimism
2021-11-01 09:06:36
