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...
Japanese stocks rebounded on Wednesday, with the Nikkei 225 Index climbing 1% to around 39,400 and the broader Topix Index rising 0.4% to 2,768, recovering from losses in the previous session when technology stocks faced a selloff. The decline on Tuesday was driven by concerns over the emergence of Chinese startup DeepSeek, which posed a challenge to the dominance of Western artificial intelligence leaders. Meanwhile, minutes from the Bank of Japan's December meeting revealed that the central bank maintained a cautious stance on monetary policy, emphasizing that any adjustments would...
U.S. stocks rebounded on Tuesday, led by the Nasdaq's 1.5% surge, as technology shares recovered from Monday's AI-driven sell-off triggered by Chinese startup DeepSeek's announcement of a competitive AI model. Nvidia surged 8.8%, recovering part of its historic 17% single-session loss that erased $593 billion in market value. Broadcom and Oracle added 2.6% and 3.6%, respectively, amid broad tech strength. The S&P 500 climbed 0.9%, supported by its technology sector, while Appleand Microsoft advanced 3.7% and 2.9%, respectively ahead of its earnings release. Meanwhile, Royal Caribbean...
European stocks closed higher on Tuesday, rebounding from the losses in the previous session as markets continued to assess the outlook on GPU and AI infrastructure demand following yesterday's tech selloff. The Eurozone's STOXX 50 added 0.3% to close at 5,203 and the STOXX 600 closed 0.5% higher at a record high of 532. Selected tech stocks remained in the spotlight after claims from Chinese-developed LLM DeepSeek that it attains comparable results to US counterparts with a fraction of computing power triggered a selloff for companies with exposure to speculation of higher AI infrastructure...
Europe's major bourses tried to recover on Tuesday, with the STOXX 50 trading flat to higher and the STOXX 600 up 0.2%, following losses in the previous session, which were driven by concerns over rising AI competition from China that sparked a selloff in the tech sector. ASML Holding rose 0.5%, after dropping 7.5% on Monday, and Infineon rose 0.1%, after dropping 2%. Meanwhile, investors also turned their attention to corporate earnings. SAP shares rose about 2% after the company revised its operating profit outlook higher to €10.6 billion and said it met or exceeded all of its 2024...
The Hang Seng closed 0.14% higher at 20,225 on Tuesday (1/28) in a half-day session ahead of the Lunar New Year celebrations. The index marked its third straight session of gains, largely supported by technology advances and consumer spending. Traders were closely following developments on Chinese startup DeepSeek's affordable AI model, as its emergence raised concerns about U.S. dominance in the tech sector. China Vanke Co. jumped 2.1% after overhauling its management, following assurances from Chinese authorities to support the troubled builder. Xiaomi Corp. ended at a record high, jumping...
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...