US President Donald Trump said Thursday he will nominate Council of Economic Advisers Chairman Stephen Miran to fill the final months of a vacant seat on the Federal Reserve, as the White House seeks a permanent member for the central bank's board of governors and continues its search for a new Fed chairman. Miran has called for a complete overhaul of Fed governance and will take over from Fed Governor Adriana Kugler following her surprise resignation last week, as she returns to her tenured professorship at Georgetown University. The term expires January 31, 2026, and must be confirmed by...
US stocks opened the week mostly higher, with the S&P 500 up 0.2%, the Nasdaq up 0.5%, and the Dow Jones holding near the flatline. Investors are focused on the Fed's policy decision, with another 25bps rate cut widely anticipated. The market will also be watching the latest economic projections, particularly the prospect of a rate cut in 2025. Several key economic indicators are also due this week, including the S&P Global PMI, retail sales, and PCE report. On the corporate side, Broadcom shares rose 5.5%, extending Friday's nearly 24% surge that pushed the chipmaker's market...
US stock index futures rose as investors anticipated another interest rate cut at the Federal Reserve's final meeting of the year and ahead of a busy week of economic data. Contracts on the S&P 500 Index rose 0.2% as of 5:24 a.m. in New York, while futures on the tech-heavy Nasdaq 100 rose 0.3% MicroStrategy Inc., Palantir Technologies and Axon Enterprise advanced in premarket trading after the announcement that the stocks would be added to the Nasdaq 100 in the index's annual restructuring. Bitcoin rose to a record high on President-elect Donald Trump's support for digital assets and...
The Hang Seng fell 176 points or 0.9% to end at 19,795 on Monday(16/12), ending lower for the second session to hit its lowest level since Dec.6. An unexpected slowdown in China's retail trade burdened sentiment, highlighting the ongoing struggles of the economy. Meanwhile, China's statistics agency said domestic demand remains weak amid challenging global conditions. All sectors dipped, dragged by tech, property, and consumers. Still, the slump was capped by a modest rise in US futures, with markets awaiting the Fed's interest rate decision this week. The central bank is expected to...
European stocks started the week on a cautious note, with the STOXX 50 slipping 0.1% and the STOXX 600 hovering near the flatline, as traders brace for a week of key central bank decisions from the Fed, BoE, and BoJ. Adding to concerns were signs of economic weakness in the Euro Area. Flash PMIs from France revealed the country's private sector contracted for a fourth consecutive month, with a sharp deepening in the manufacturing downturn. Over the weekend, Moody's unexpectedly downgraded France's credit rating to Aa3 from Aa2, citing concerns over weakened public finances due to ongoing...
European markets are expected to open in mixed territory Monday, as traders gear up for the final Federal Reserve meeting of the year. The U.K.'s FTSE 100 index is expected to open 4 points lower at 8,292, Germany's DAX up 36 points at 20,443, France's CAC down 1 point at 7,401 and Italy's FTSE MIB up 16 points at 34,876, according to data from IG. The Fed's decision on Dec. 18 stateside is front and center for global markets this week, with the CME Fedwatch tool forecasting a 96% chance of a 25-basis-point cut by the central bank. Traders will be paying close attention to the updated...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Switzerland's government will hold an emergency meeting on Thursday to decide its next move after its president returned home empty-handed from an 11th-hour trip to Washington aimed at averting a...