Stocks in the US closed higher on Wednesday after President Trump denied plans to fire Federal Reserve Chair Jerome Powell, though he stopped short of ruling it out entirely. The S&P 500 climbed 0.3%, while the Dow rose 231 points and the Nasdaq 100 edged up 0.1% to mark fresh record close. Markets had initially dipped on reports suggesting Trump was weighing Powell's removal, compounding investor concerns over persistent inflation and ongoing trade tensions. June's flat Producer Price Index provided some relief after Tuesday's hotter-than-expected CPI reading, which showed the fastest...
The Nikkei 225 Index dropped 0.5% to around 39,439, while the broader Topix Index fell 0.1% to 2,816 during Thursday morning trading, as traders remained cautious after US President Trump signaled his intention to impose a 25% tariff on Japan. The index hit its lowest level in over three weeks, after being flat in the previous session. Caution was also built ahead of Japan's upcoming Upper House election on July 20. The latest trade data further pressured sentiment, as the trade surplus narrowed in June compared to the same month last year. Exports unexpectedly fell, while imports rose...
Asia-Pacific markets mostly fell Thursday, with investors assessing the fall in Japan's exports for the second consecutive month, as well as U.S. President Donald Trump's denial of his intent to fire Jerome Powell as Federal Reserve chairman. The U.S. President on Wednesday denied the possibility of such a move, hours after he told a room full of Republican lawmakers that he would fire Powell. "We're not planning on doing it," he said at a meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa at the White House. "I don't rule out anything," he added, "but I think it's highly...