Global stocks higher ahead of U.S. Fed chairman's speech

Investors are looking to Jerome Powell's speech Friday for signs of direction on interest rates after two regional Fed presidents said they see no need for a change.

In early trading, London's FTSE 100 rose 0.7% to 7,180.45 and Frankfurt's Dax climbed 0.5% to 11,799.63. France's CAC-40 gained 0.4% to 5,413.13. On Thursday, U.S. stocks gave up early gains and wavered through much of the day before closing mostly lower.A pickup for Boeing helped drive the Dow Jones average higher. The Dow gained 0.2%, to 26,252.24.Losses by health care, technology and energy companies, among other sectors, outweighed gains by banks, consumer goods makers and elsewhere in the market. Bond prices fell, nudging yields higher.

George and Eric Rosengren, president of the Boston Fed, dissented from the 8-2 rate cut vote, arguing that they favoured no rate cut at all.

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