Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures. "It makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now," Waller told a gathering of the Money Marketeers of New York University. "I see the hard and soft data on economic activity and the labor market as consistent: The economy is still growing, but its momentum...
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations between the US and the European Union. Reckitt Benckiser was up 1.9% after agreeing to sell its essential home business unit to Advent International for $4.8 billion. Vivendi soared more than 10% after a French financial market advisor concluded that a mandatory takeover bid for Vivendi by Bollore is required. Also, Burberry edged up 0.3% after its quarterly sales topped forecasts and shares of Saab...
The Nikkei 225 fell 0.2% to close at 39,819 on Friday, while the broader Topix also declined 0.2% to 2,834, erasing early gains from the morning session. The Nikkei reversed a modest gain from the previous day in choppy trading, as investors stayed cautious ahead of this weekend's Upper House election. Uncertainty surrounding trade negotiations with the US also weighed on sentiment ahead of the August deadline, especially after disappointing June trade data revealed a sharp drop in shipments to the US. However, softer inflation figures helped cap the losses, raising hopes that the Bank of...
The Hang Seng Index opened 258 points higher, or 1.05%, reaching 24,757 points. The National Enterprises Index rose by 92 points, or 1.04%, to 8,945 points, while the Technology Index increased by 71 points, or 1.3%, to 5,520 points. Tech stocks performed strongly, with Tencent up by 1.5%, Alibaba rising by 2.4%, Meituan increasing by 1.8%, Xiaomi gaining 0.6%, and Kuaishou advancing by 1.7%. Automotive stocks surged, with BYD up by 1.2%, Geely rising by 1.4%, NIO soaring by 7.3%, Xiaopeng Motors gaining 1.1%, and Li Auto rising by 1%. Financial stocks also provided support to the market,...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Australia stock markets climb to record high Australia's S&P/ASX 200 climbed 0.58% to a record high of 8,689.4 during early trading hours. Year-to-date, the benchmark index as risen 6.62%, data from LSEG showed. Index heavyweights like mining giant BHP and Rio Tinto are up 1.7% and 1.32% respectively. Biotech firm CSL is up over 1.7%. Asia markets open Friday trading in the green Asia...
According to a statement by the Federal Reserve (Fed), Fed Chair Jerome Powell met with United States (US) President Donald Trump on Thursday, where the head of the Fed reiterated that the Fed's...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...