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...
Stocks in the US closed lower on Monday as investors took a breather from last week's powerful rally and turned their focus to Nvidia's highly anticipated earnings report due Wednesday. The S&P 500 slipped 0.3% and the Dow Jones fell 349 points after last week's record-setting surge, and the Nasdaq 100 finished 0.4% lower. Consumer staples, health and utilities sectors dragged the most. Nvidia, which accounts for 8% of the S&P 500 rose 1%, while Intel shares lost 1% after news that the US government had taken a 10% stake in the company, part of a broader Trump administration push...
European markets closed lower on Monday as investors assessed the economic outlook following signals from Federal Reserve Chairman Jerome Powell that interest rate cuts may be coming soon. The pan-European STOXX 600 dropped 0.5% at the start of trading, with most regional indexes trading in negative territory. Germany's DAX also declined 0.5%, while France's CAC 40 tumbled 1.6%. U.K. markets remained closed for a public holiday. Shares of Danish windfarm developer Oersted AS (CSE:ORSTED) plunged more than 16% after U.S. authorities ordered the company to halt construction on a nearly...
U.S. equities fell slightly on Monday after the Dow Jones Industrial Average catapulted to intraday and closing records, and as investors looked ahead to Nvidia earnings. The 30-stock Dow dropped 121 points, or 0.3%. The S&P 500 shed 0.2%, while the Nasdaq Composite lost 0.3%. Intel shares initially extended its gains Monday before fizzling on the heels of Commerce Secretary Howard Lutnick revealing Friday that the U.S. government has taken a 10% stake in the chipmaker. That could be a sign of more to come from the Trump administration, as White House economic advisor Kevin Hassett...
The Hang Seng index surged 491 points, or 1.9%, to close at 25,830 on Monday (August 25th), extending its gains for a second session and reaching its highest level since October 2021. The rally was broad-based, driven by the prospect of a US interest rate cut amid weakening labor demand. In China, the stock market rose nearly 10% this month due to a surge in liquidity. Meanwhile, the People's Bank of China (PBOC) injected a net CNY 465.7 billion into the financial system today, the largest daily addition since late July, to maintain adequate funding conditions. The Technology Index jumped...
European markets were lower to start the new trading week Monday as investors assessed the economic outlook after hopes of a Federal Reserve interest rate cut were boosted Friday. The pan-European Stoxx 600 was last down by 0.3%, with regional indexes largely trading in negative territory. Germany's DAX and France's CAC 40 were last each down by around 0.5%. U.K. markets were closed for a public holiday. Investors on Monday closely watched shares of windfarm developer Orsted. Late on Friday, U.S. authorities ordered the company to halt construction of a near-complete project off of Rhode...
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...