European stocks closed firmly higher on Wednesday, extending the rebound from the prior session as markets assessed a batch of major earnings and the risks to European growth should US President Trump follow through with earlier tariff threats. The Eurozone's STOXX 50 closed 0.6% higher at 6,337, the highest in over 24 years, while the STOXX 600 gained 0.5% to close at another record high of 534. ASML jumped by 5.8% after its fourth-quarter bookings exceeded estimates. Tech shares led the gains to extend the recovery from the selloff in AI-infrastructure stocks on Monday, with Schneider...
The Federal Reserve is widely expected to leave monetary policy settings unchanged following the January meeting.Fed Chairman Powell's presser could provide important clues about the rate outlook.The US Dollar could come under bearish pressure if the Fed leaves a rate cut in March on the table. The United States (US) Federal Reserve (Fed) will announce monetary policy decisions following the first policy meeting of the year on Wednesday. Market participants widely anticipate that the US central bank will leave monetary policy settings unchanged after cutting the interest rate by 25 basis...
The Federal Reserve kept interest rates at the current target range of 4.25% to 4.50% at the conclusion of its January meeting, but policymakers warned that inflation remains "somewhat elevated." The pause comes after the central bank cut rates three consecutive times to end 2024.At his press conference, Federal Reserve Chair Jerome Powell emphasized that the central bank is in no hurry to adjust its policy stance, particularly as the economy remains strong.There is a wide range of possibilities when it comes to the potential effects of tariffs, according to Fed Chair Powell."The range of...