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...
European stocks traded lower on Friday as markets resumed trading after the Christmas holiday. The Stoxx 50 and Stoxx 600 each fell 0.1%, with most sectors and major bourses in negative territory. This followed a shortened session at the start of the week due to Christmas Eve, with many traders still away for the holiday season. As 2024 winds down, attention turns to the final trading days, New Year's Day on Tuesday, and the outlook for monetary policy from the European Central Bank and the Federal Reserve. Market watchers are also watching for potential tariff changes under U.S....
The Nikkei 225 jumped 1.8% to close at 40,281 on Friday, marking a second straight day of gains and hitting its highest since mid-October, with most sectors contributing to the rally. The broader Topix index rose 1.3% to close at 2,802, as a weaker yen boosted exporters and fueled broad gains. Meanwhile, BOJ Governor Kazuo Ueda reiterated the need to monitor economic risks but refrained from providing clear guidance on future interest rate hikes. On the data front, Japan's retail sales grew the most in three months in November, while industrial output fell less than expected. However, a...
The Hang Seng Index rose for a third day, rising 0.2%, or 49.15, to 20,147.44 in Hong Kong. Xiaomi Corp. was the biggest contributor to the index's gain, rising 5.3%. Lenovo Group Ltd. was the biggest gainer, rising 7.8%. In midday trading, 37 of 83 stocks rose, while 41 fell; two of four sectors rose, led by trade and industrial stocks. Source: Bloomberg
Japanese shares rose, led by gains in autos and electronics shares, as a weaker yen boosted earnings growth hopes. Toyota Motor rose 1.0% and Renesas Electronics gained 2.0%. USD/JPY was at 157.85, compared with 157.36 at the close of trading on the Tokyo Stock Exchange on Thursday. Investors were watching for any comments on the yen's recent depreciation from Japanese government officials. The Nikkei Stock Average was up 0.5% at 39,753.32. Source: Bloomberg
The Dow Jones Industrial Average erased earlier losses and squeezed out a small gain in thin trading Thursday after the market's strong back-to-back gains at the start of the holiday week. The blue-chip Dow closed the day 28.77 points, or 0.07%, higher to 43,325.80 after losing about 182 points earlier in the session. The S&P 500 dipped just 2.45 points, or 0.04%, to 6,037.59. The Nasdaq Composite also ended the day slightly lower, declining less than 0.1% to 20,020.36. The market was closed on Wednesday for Christmas Day. Thursday's action came after a solid Christmas Eve for 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...