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On September 11th, the third-largest political group in the European Parliament, Patriots for Europe, announced in Strasbourg, France, that it would submit a motion of no confidence against the European Commission, led by Ursula von der Leyen. The motion has reportedly received 85 signatures from MEPs, exceeding the minimum threshold of 72 signatures required to initiate the relevant procedure. Patriots for Europe accused the current European Commission of a complete failure in trade, transparency, and accountability. The groups First Vice-President, Kinga Gay, stated during the European Parliament plenary session that day that the Commission had failed to address Europes most pressing challenges, failing in areas such as peace, trade, and migration. "It is time for Ursula von der Leyen to step down," she said. According to regulations, once the motion is confirmed by the European Parliament, it will be scheduled for debate and a vote in the plenary session of the European Parliament in October at the earliest.FBI: Second suspect in Charlie Keek shooting has been released, gunman remains at large.Japans BSI large non-manufacturing confidence index in the third quarter was 5.2, compared with -0.5 in the previous quarter.Japans BSI large manufacturing confidence index in the third quarter was 3.8, compared with -4.8 in the previous quarter.Foreign investors bought 604.5 billion yen of Japanese bonds in the week ending September 5, compared with 397.4 billion yen in the previous week.

S&P 500 Gains Ground After Powell’s Comments On Inflation And The Labor Market

Florala Chen

Dec 01, 2022 15:22

Powell's Remarks Supported Stock Prices

The S&P 500 increased following Powell's speech since there were no surprises in his statements.

The time to slow down rate rises may arrive as soon as the meeting in December, according to Powell. It is likely that keeping policy at a restrictive level for a while will be necessary to restore price stability.


Powell often made the same points that speakers from the Fed made in their most recent public statements. To ensure that inflation is under control, the Fed will need to raise interest rates to a constraining level and then maintain them there for a while.

Market attention is centered on a probable slowdown in the rate of rate increases. It appears that traders anticipate that inflation will start declining quickly and that the peak rate won't be excessive.

Following Powell's comments, Treasury yields decreased, which boosted tech stocks. The NASDAQ Composite experienced significant upward momentum and attempted to stabilize above the 11,150 mark. In today's trading session, Alphabet, Microsoft, Tesla, Meta, NVIDIA, and more all had gains of over 2%.

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