Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce in early Asian hours, heading for a 0.5% drop on the week. That came after data that showed applications for unemployment benefits fell for a fifth straight week to the lowest level since mid-April, and advancing retail sales in June. San Francisco Fed President Mary Daly said she still thinks it's reasonable for policymakers to plan on two interest-rate cuts this...
Stocks rallied on Wednesday, with the S&P 500 clawing back more of the rout since late February that took the benchmark briefly into correction territory, as the Federal Reserve forecast it would still cut interest rates two times in 2025. The Dow Jones Industrial Average climbed 383.32 points, or 0.92%, and closed at 41,964.63. The S&P 500 jumped 1.08% to end at 5,675.29, and the Nasdaq Composite advanced 1.41% to settle at 17,750.79. The central bank kept the federal funds rate at a range of 4.25% to 4.5%, a decision that was widely expected. That said, the Fed kept its outlook...
The Federal Reserve in a closely watched decision Wednesday held the line on benchmark interest rates though still indicated that reductions are likely later in the year. Faced with pressing concerns over the impact tariffs will have on a slowing economy, the rate-setting Federal Open Market Committee kept its key borrowing rate targeted in a range between 4.25%-4.5%, where it has been since December. Markets had been pricing in virtually zero chance of a move at this week's two-day policy meeting. Along with the decision, officials updated their rate and economic projections for this year...
European stock markets were mixed on Wednesday following recent strong gains as investors digested the historic debt reforms in Germany and assessed regional inflation data ahead of the latest Federal Reserve policy-setting meeting. The DAX index in Germany dropped 0.4% on Wednesday. However, the FTSE 100 in the UK climbed 0.1%, while the CAC 40 in France gained 0.7%. German debt vote passes Germany's lower house of parliament, the Bundestag, voted in favor of several changes to the country's constitution that would allow for a loosening in fiscal rules and pave the way for new investments...
The S&P 500 rose on Wednesday as investors awaited a policy announcement from the Federal Reserve later in the day. The broad market index was trading 0.7% higher, while the Nasdaq Composite was up about 1%. The Dow Jones Industrial Average was up 236 points, or about 0.6%. The Fed is scheduled to deliver its latest policy decision at 2 p.m. ET. While the Fed is widely expected to hold rates steady, investors will be looking to see if the central bank maintains its outlook for two rate cuts this year. They will also be listening to Fed Chair Jerome Powell for clues on how he sees the...
Stocks in Europe declined on Wednesday (19/3), with the STOXX 50 falling 0.4% and the STOXX 600 down 0.3%, snapping a three-session winning streak. Investors weighed Germany's historic constitutional amendment vote, developments on a potential ceasefire in Ukraine, ongoing tariff concerns, and key monetary policy updates. In Germany, the Bundestag approved an expected amendment to the debt brake, which will allow increased fiscal spending on infrastructure and defense. Meanwhile, Russian President Vladimir Putin agreed to a limited ceasefire halting attacks on Ukraine's energy...
The Hang Seng rose 30 points or 0.12% to close at 24,771 on Wednesday, marking its second day of gains and remaining at its highest level in three years, driven largely by financial stocks. Traders prepared for the US Fed's interest rate decision later in the day. While the central bank is expected to keep borrowing costs, an anticipated press briefing by Chair Powell may offer more insights into the economic outlook. In China, the PBoC is expected to hold key lending rates at record lows in its monthly review Thursday. However, further gains were capped by a caution from BofA Securities,...
European markets are set to open lower on Wednesday, as investors react to historic policy reforms in Germany and developments in the ceasefire in Ukraine, and await a key monetary policy update. London's FTSE 100 is expected to be little changed at the open, according to IG, while France's CAC 40 is forecast to drop 0.2% and Germany's DAX is scheduled to open about 0.5% lower. That comes after German lawmakers voted on Tuesday to reform the country's so-called debt restraint rules, which would allow for greater national spending on defense and authorize the creation of a 500 billion euro...
The Nikkei 225 index fell 0.25% to close at 37,752 on Wednesday, reversing earlier gains after the Bank of Japan kept interest rates unchanged, citing uncertainty over the potential impact of U.S. tariffs on Japan's export-driven economy. While the central bank reiterated expectations for above-potential economic growth, it also acknowledged signs of weakness. The monthly Reuters Tankan survey showed sentiment among Japanese manufacturers turned negative in March due to concerns over U.S. trade policy and slowing economic activity in China. Meanwhile, Japan's trade balance swung to a surplus...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....