Market participants are anticipating remarks from the head US central bank governor

The European stock market saw mixed results on Friday, with the EuroStoxx 50 inching up by 0.3% to 5,477 points, while the Dax and MDax indices had a slightly positive start. The Dax was fluctuating around its previous close, slightly up at 24,309 points (+0.1%), and the MDax was trading 0.5% higher at 30,818 points.

Meanwhile, the US job market remains a point of interest, with the upcoming speech by US Federal Reserve Chair Jerome Powell at the Fed's symposium in Jackson Hole, Wyoming, scheduled for 16:00 CET on Friday. Robert Greil, chief strategist at private bank Merck Finck, advises investors to pay particular attention to Powell's assessment of the US job market.

In the US, the chance of a rate cut in September has reportedly fallen from 90% to around 70%, according to market expert Stephen Innes of SPI Asset Management. This change is attributed to stronger purchasing manager data and restrictive comments.

In the European market, some companies saw a change in fortune. Kepler Cheuvreux downgraded its recommendation for DHL Group, causing the DHL share to fall by 0.6%. On the other hand, Hensoldt shares rose 3.7%, while Renk shares increased by 1.6%, despite Citigroup downgrading its recommendations for both companies, now rating them as "Neutral".

Sudzucker shares faced a volatile start, down 1.3%, following the company's announcement of a significant downward revision of the forecast for the fiscal year 2025/26. The company now expects a revenue of 8.3 to 8.7 billion euros, down from the previously projected 8.7 to 9.2 billion euros, and a reduced EBITDA forecast of 470 to 570 million euros. Despite this forecast cut, the company's stock price trended upwards.

CTS Eventim shares continued to face pressure, falling by 3.3%, after an unexpected profit drop the day before. Rheinmetall shares, however, saw a modest increase of 1.1%.

The US job market, together with the next jobs report, is likely to determine whether the expected rate cut in mid-September will actually take place. The focus is now on Powell's speech for further insights into the US economy and job market.

Market participants are anticipating remarks from the head US central bank governor