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...
US stocks soared on Friday after Fed Chair Powell signaled the possibility of a September rate cut during his Jackson Hole speech, sparking the strongest cross-asset rally since April. The S&P 500 and Nasdaq climbed 1.5% and 1.9%, respectively, while the Dow Jones surged 846 points to a record intraday high. Speaking at the Fed's annual Jackson Hole Symposium, Powell noted that the shifting balance of risks in the economy "may warrant adjusting our policy stance," while cautioning that inflation pressures remain. Traders quickly ramped up bets on a 25 bps rate cut in September to...
European stock markets closed higher on Friday, as investors continued to assess the full scope of the European Union's trade deal with America and hopes rose for a U.S. interest rate cut in September. The pan-European Stoxx 600 provisionally closed 0.47% higher, with top sectors including mining, autos and travel. London's FTSE 100 closed at a record high for the fourth session in a row, adding another 0.13% on Friday to clinch its best weekly performance since May. U.K. stocks have found support this week from gains in mining, retail and defensive stocks, along with Purchasing Managers'...
US stocks rose slightly on Friday after a decline led by the technology sector this week as the market awaited Federal Reserve Chairman Powell's speech at the Jackson Hole Economic Symposium. The S&P 500 and Dow Jones Industrial Average rose more than 0.6%, while the Nasdaq 100 edged up only slightly. Powell is likely to reveal how the FOMC is balancing inflation risks with a slowing labor market, as downward revisions to payrolls data weighed on high producer prices and cost measures in the PMI. Technology stocks were the highlight of the corporate sector. Alphabet rose 1.5% after...
The Hang Seng Index rose 212 points, or 0.8%, to close at 25,317 on Friday (August 22nd), rebounding from the previous session's decline as mainland Chinese markets reached a decade-high on resurgent tech optimism. The Hang Seng Technology Index surged 2.7% after DeepSeek launched its upgraded AI V3 model on Thursday, boosted by domestic semiconductors as Beijing develops chip self-sufficiency. Consumer stocks also rose sharply on hopes of fresh stimulus from Beijing after signs of a slowdown in Chinese activity in July. Locally, Hong Kong's annual inflation fell to a four-year low of 1.0%...
European stocks traded flat to lower on Friday as investors turned cautious ahead of Fed Chair Jerome Powell's Jackson Hole speech and weighed the impact of the EU's new trade deal with the US. Under the pact, the EU pledged $750 billion in US energy spending and at least $600 billion in investment, securing a tariff cap of 15% instead of the threatened 30%. Pharmaceuticals, like other EU exports, will face the 15% levy. Meanwhile, revised data showed Germany's economy contracted more sharply in Q2, dragged by a weaker manufacturing sector after US firms front-loaded purchases earlier in...
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...