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 Nikkei 225 rose 1.3% to around 40,100 on Friday, while the broader Topix index gained 1.1% to 2,835, as Japanese equities rose to multi-month highs after a strong session on Wall Street. Market sentiment improved after the White House downplayed the urgency of an upcoming tariff deadline, easing investor concerns about a protracted trade war. Spokeswoman Karoline Leavitt indicated the deadline was flexible and could be extended. Meanwhile, investors weighed fresh data showing Tokyo's core inflation slowed in June but remained well above the Bank of Japan's 2% target, maintaining...
The S&P 500 rose to within a whisker of a new record Thursday, the culmination of a stunning comeback from lows set in April as the benchmark overcame a wall of worries that included tariff fights, wars and sticky inflation. The broad market index climbed 0.8% to close at 6,141.02, bringing its gain on the week to 2.9% and putting it just a few points away from the intraday all-time high hit in late February of 6,147.43. The Nasdaq Composite advanced 0.97% to 20,167.91, itself inches away from a new record. The Dow Jones Industrial Average climbed 404.41 points, or 0.94%, to...
The Stoxx Europe 600 index provisionally rose by 0.1%. Regionally, the FTSE 100 was higher by 0.2% and Germany's DAX was up 0.6%. France's CAC 40 bucked the trend by closing flat. Within the Stoxx 600 index, miners Anglo American and Antofagasta were among the biggest gainers, alongside defense giants Rheinmetall, Saab and Hensoldt Balfour Beatty shares rose 2.7% after the company said it won a £833 million contract to help build the world's first gas-fired power station for Net Zero Teeside Power, a joint venture between BP and Equinor. The British construction firm said that the...
US stocks edged higher on Thursday, with the S&P 500 rising 0.4% to approach record levels, the Nasdaq 100 adding 0.5% to surpass the fresh high topped the day before and the Dow Jones adding more than 200 points, supported by growing expectations that the Fed may cut interest rates sooner than previously anticipated. The WSJ reported that President Trump is considering announcing his nominee for the next Fed Chair early, potentially installing a "shadow" chair who could push for a more dovish policy stance. Meanwhile, fresh economic data showed the US economy contracted more than...
The Hang Seng dropped 149 points or 0.6% to 24,325 on Thursday, snapping the four-day winning streak and retreating from a three-month high amid broad losses and profit-taking. Investor caution resurfaced on worries that Wall Street's recent rally may have outpaced economic fundamentals, especially with persistent macro and geopolitical risks. On Capitol Hill, Fed Chair Powell stated the Fed remains cautious in evaluating how tariffs are influencing consumer prices. Pharma stocks weighed heavily on the index, with sharp declines in Innovent Biologics (-4.5%), Wuxi Biologics (-2.7%), and...
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...