Treasury Secretary Scott Bessent expects a substantial drop in inflation during the first six months of 2026, according to statements made Tuesday on Fox Business. Bessent indicated that an announcement regarding President Trump's Federal Reserve chair selection would likely come in early January, with "one or two more Fed interviews" possibly taking place this week. When discussing potential candidates, Bessent noted that both Kevin Warsh and Kevin Hassett are "very very qualified" for the position. He rejected suggestions that Hassett would lack agency at the Federal Reserve, while...
Asia-Pacific markets opened higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto import tariff of 15%, down from 27.5%.The order also confirms the agreement for $550 billion of Japanese investments in U.S. projects.Japan's Nikkei 225 jumped 1.39% and the Topix added 0.86% after Japan's July household spending rose 1.4% year over year. South Korea's Kospi climbed 0.26% while the Kosdaq jumped 0.35%.Australia's S&P/ASX 200 rose 0.58%.Hong Kong's Hang Seng Index was on course to open lower, with the futures contract at 25,021,...
The S&P 500 closed at a fresh record high after an afternoon boost pushed stocks solidly into the green as traders shook off weak private employment data earlier in the day. A big jobs report now looms over the market, with traders wanting a figure Friday that bolsters rate cut chances without causing a scare about a recession. The broad market S&P 500 finished up 0.83% at 6,502.08, while the Nasdaq Composite settled up 0.98% at 21,707.69. The Dow Jones Industrial Average finished up 350.06 points, or 0.77%, at 45,621.29. The ADP private payrolls report showed an increase of 54,000...
European stocks closed firmly higher on Thursday, with the STOXX 50 and the STOXX 600 adding 0.4% and 0.6%, respectively, extending the rebound from the prior session as long-dated yields edged lower and eased concerns of higher credit costs. Yields were further pressured by pessimistic labor market data in the US following a batch of pessimistic signals about the labor market in the world's largest economy, consolidating bets of incoming rate cuts by the Federal Reserve. Travel stocks were among the weakest performers, with Jet2 plunging 12.5 after cutting its winter 2025–26 capacity...
The three major averages in the US swing between small gains and losses on Thursday, as traders digest the latest batch of economic data and what it means for the Fed's plans. The US private sector added only 54K jobs in August, reinforcing signs that the labor market is losing momentum and strengthening expectations of a Federal Reserve rate cut this month. Initial jobless claims also rose to 237K, the highest in nearly two months. This followed Wednesday's weaker-than-expected JOLTS report. On the other hand, the ISM Services PMI rose more-than-expected to a six-month high. Investors are...
The Hang Seng Index fell 285 points, or 1.1%, to close at 25,058 on Thursday (September 4), weakening for a third session amid widespread weakness. The index followed mainland Chinese stocks lower after reports that China was considering cooling measures for the stock market, including easing some restrictions on short selling. The news triggered profit-taking after a 10% surge in Chinese stocks in August, driven by record margin financing and intensive trading, which raised concerns about overheating. The technology index slumped 1.9%, dragged down by a decline in Cambricon shares, due to...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...