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...
Stocks wavered on Thursday after President Donald Trump reiterated his tariff threats. The Dow Jones Industrial Average popped 168 points, or 0.4%. At its session highs, it had added nearly 300 points. The S&P 500 rose 0.5%, while the Nasdaq Composite gained 0.3%. Stocks cut gains late in the session after President Donald Trump announced his intention to implement 25% tariffs on goods imported from Canada and Mexico.Elsewhere, Wall Street digested recent quarterly results from a slew of megacap tech companies. Shares of Meta Platforms and Tesla respectively added 1% and 3%, while...
Europe's benchmark index closed at a record high on Thursday, led by real estate stocks, as investors priced in more monetary policy easing by the European Central Bank this year and assessed a mixed bag of corporate results.The ECB lowered borrowing costs by an expected 25 basis points to 2.75% and kept the door open to further policy easing as concerns over lacklustre economic growth superseded worries about persistent inflation.The decision came on the heels of data showing the euro zone economy unexpectedly stagnated last quarter. Traders now expect about 70 bps worth of rate cuts by...
European stock markets rose on Thursday, as investors digested a flood of corporate earnings ahead of the European Central Bank's latest policy decision and the release of regional growth data. At 3:05 a.m. ET (08:05 GMT), Germany's DAX was up 0.2%, France's CAC 40 was up 0.3% and the U.K.'s FTSE 100 was up 0.1%. European equities benefited on Thursday from a rise in U.S. stock futures after the release of quarterly results from a number of megatech companies after the previous session's close, following the Federal Reserve's decision to keep interest rates unchanged. However, attention...
Japanese stocks edged higher after the close on Thursday (1/30), as gains in the Communications, Electrical/Machinery and Manufacturing sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 was up 0.03%. The best performers on the Nikkei 225 were CyberAgent Inc (TYO:4751), which rose 4.94% or 56.00 points to close at 1,190.00. Meanwhile, DeNA Co Ltd (TYO:2432) gained 4.33% or 117.00 points to close at 2,820.00 and Sumitomo Dainippon Pharma Co Ltd (TYO:4506) gained 3.66% or 21.00 points to close at 594.00. The worst performers on the session were Japan Exchange Group Inc...
The Nikkei 225 Index slipped 0.1% to just below 39,400, while the broader Topix Index dropped 0.2% to 2,770 on Thursday, paring gains from the previous session. The declines mirrored losses on Wall Street overnight, following the Federal Reserve's decision to pause its rate-cutting cycle and its acknowledgment that inflation remains "somewhat elevated." Investor sentiment was also impacted by mixed earnings from major US tech companies, including Tesla, Meta Platforms, and Microsoft. Notable losses were seen in companies such as Sumitomo Mitsui (-1.3%), SoftBank Group (-1%), Keyence...
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...