Stock indices on Wall Street were in consolidation mode again after the price gains at the end of last week. Above all, a disappointing result by the investment bank Goldman Sachs put pressure on investors' sentiment, following stronger-than-anticipated quarterly results from JPMorgan a day earlier.
The minutes of the US Federal Reserve's last monetary policy decision on March 20 confirmed the Fed's wait-and-see attitude. There are still "significant uncertainties" in the economic outlook, and latest US inflation data will probably not put pressure on the Fed to raise key interest rates again in the near future. ECB President Mario Draghi continues to see growth risks for the euro zone and recent economic data have confirmed that the pace of growth in the euro area is slowing. Nevertheless, the likelihood of a recession remains low.