European stocks jumped Thursday as the continent’s markets enjoyed a belated recovery from the latest installment of the ongoing feud between President Donald Trump and Federal Reserve Chair Jerome Powell.
The pan-European Stoxx 600 index rose 0.7% Thursday, while Germany’s DAX climbed 0.8% and France’s CAC was up 0.9%. The Stoxx 600 fell 0.6% yesterday, and Deutsche Bank strategist Jim Reid noted the index closed “right before Trump’s comments about not firing Powell.”
Trump said Wednesday it was highly unlikely he would dismiss the central bank chair, backtracking on reports that he was going to fire him.