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 Hang Seng fell 49 points, or 0.24%, to close at 20,041 on Monday, following a lackluster performance in the previous session. Losses were led by the technology, property and consumer discretionary sectors as traders remained cautious ahead of China's official December PMI data, due for release on Tuesday. China's economic recovery remained uneven in November, with factory activity expanding for a second month while the services sector stagnated. Meanwhile, US futures plunged as Wall Street prepared for the final trading week of 2024, amid rising US Treasury yields and concerns over the...
The Nikkei stock index on Monday expanded 19 percent from a year earlier, ending at its highest level on record on the back of solid company earnings and a weaker yen boosting export-oriented issues. Stocks fell on the final trading day of the year, however, with the 225-issue Nikkei Stock Average ending down 386.62 points, or 0.96 percent, from Friday at 39,894.54. The broader Topix index finished 16.76 points, or 0.60 percent, lower at 2,784.92. Japanese financial markets will be closed from Tuesday through Sunday for the New Year holidays. Source : mainichi.jp
The Hang Seng Index opened 0.1% lower, dropping 21.74 to 20,068.72, as stocks lose for the second straight day in Hong Kong. Meituan contributed the most to the index decline, decreasing 0.7%. Lenovo Group Ltd. had the largest drop, falling 3.0%. In early trading, 43 of 83 shares fell, while 35 rose; 2 of 4 sectors were lower, led by commerce and industry stocks. Source : Bloomberg
Japanese stocks fluctuate between gains and losses on the last trading session of the year in Tokyo as higher US yields supported banks, while a slump on Wall Street weighed on exporters. Topix rose 0.1% to 2,803.91 as of 9:30 a.m. Tokyo time Nikkei 225 declined 0.3% to 40,141.08 Mitsubishi UFJ Financial Group contributed the most to the Topix's gain, increasing 1.4%. Out of 2,124 stocks in the benchmark index, 1,231 rose and 730 fell, while 163 were unchanged. "US stocks are falling, led by technology stocks, due to profit-taking after the large annual gains and the...
Dow drops 500 points, Big Tech stocks drag Nasdaq down 2%Stocks declined on Friday, led by technology names, with the Dow Jones Industrial Average erasing earlier gains in the holiday-shortened week. The blue-chip Dow shed more than 500 points, falling for the first time in six sessions. The S&P 500 fell 1.6% with all 11 sectors in the red. The Nasdaq Composite slid 2.2% as Tesla dropped 5%, and Nvidia declined more than 3%. Amazon, Microsoft and Alphabet each fell at least 2%. With Friday's sell-off, the Dow turned negative on the week, while the tech-heavy Nasdaq sat near flat. The...
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...