President Donald Trump announced Tuesday that Scott Bessent has declined consideration for Federal Reserve Chair while praising "both Kevins" - Kevin Warsh and Kevin Hassett - as "very good" candidates for the position. Speaking on CNBC, Trump reiterated his criticism that current Fed Chair Jerome Powell has been "too late to cut rates" and mentioned he has "two other people aside from the two Kevins in mind" for the position. The president warned he would impose a 35% tariff on European Union goods if the bloc "doesn't meet obligations" following recent trade deals with the EU and...
The Nikkei 225 Index jumped 0.8% to above 38,000 while the broader Topix Index gained 0.6% to 2,786 on Wednesday, marking the fourth consecutive session of gains, supported by a decline in both Japanese government bond yields and the yen, which eased pressure on equities. The move followed reports that Japan's Ministry of Finance plans to scale back issuance of super-long-term bonds, aiming to contain rising yields. This comes after last week's lackluster 20-year bond auction, which drew the weakest demand in over a decade. Japanese markets also took cues from a strong overnight...
US stocks closed sharply higher on the first trading day of the week, following a rally in Treasury securities as the market eased concerns that a renewed trade war could hurt corporate prospects. The S&P 500 rose 2% while the Dow jumped 1.8% and the Nasdaq 100 gained 2.4%. President Donald Trump delayed 50% tariffs on the European Union until July 9 and sounded a positive tone about the possibility of a trade deal to avoid new obstacles. Meanwhile, long-dated Treasuries enjoyed some respite as Japan signaled it would reduce issuance of long-curve notes, helping credit-sensitive stocks...
European stocks closed higher on Tuesday, extending their sharp gains from the previous session amid easing trade war concerns with the United States and fresh support from the defense sector. The STOXX 50 gained 0.6% to close at 5,425 and the pan-European STOXX 600 gained 0.5% to 553. U.S. President Trump said European Union officials were rapidly holding talks for a trade deal with the U.S., aiming to roll back tariffs imposed by the White House and adding to the president's positive rhetoric on trade that had sent stocks sharply higher in the previous session. On the economic front,...
The Hang Seng rose 100 points or 0.4% to close at 23,382 on Tuesday, partly recovering from the prior session's slump amid broad-based sector gains. Sentiment was lifted by data showing a pickup in China's industrial profits for April, suggesting resilience despite ongoing U.S. trade tensions and deflation risks. A rally in U.S. futures also supported the mood as Wall Street was set to reopen after Monday's break. Meantime, President Trump backed away from his threat to impose 50% tariffs on EU imports, restoring the original July 9 deadline. However, gains were capped by Hong Kong's April...
European shares remained stable on Tuesday, supported by defence stocks after U.S. President Donald Trump threatened additional sanctions on Russia, though broader gains were restrained by ongoing caution over U.S. trade policy shifts. The continent-wide STOXX 600 index held its ground at 551.53 points, as of 0711 GMT. The benchmark closed 1% higher in the previous session after Trump extended the tariff deadline on the European Union to July 9 from June 1. Europe's defence index rose 1% on the day after President Trump said he would recommend additional sanctions on Moscow, amid...
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...
President Donald Trump said Treasury Secretary Scott Bessent told him he did not want to be nominated to replace Jerome Powell as the next chair of the Federal...