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...
Wall Street's main indexes closed lower on Tuesday as investors anxiously awaited key inflation reports that could influence the Federal Reserve's interest rate decision next week. Among the S&P 500's 11 major industry sectors, communication services was the biggest boost with help from a rally in shares of Google-parent Alphabet after it unveiled a new chip. According to preliminary data, the S&P 500 lost 16.53 points, or 0.27%, to end at 6,036.32 points, while the Nasdaq Composite lost 49.45 points, or 0.25%, to 19,687.24. The Dow Jones Industrial Average fell 143.46 points, or...
European markets ended an eight-day rally on Tuesday, with the Stoxx 50 down 0.7% and the Stoxx 600 off 0.5%, led by a 1.1% drop in industrials. Weaker-than-expected Chinese import and export data dragged mining stocks 0.8% lower, while traders awaited US inflation data on Wednesday. Among notable stocks, Delivery Hero fell 10% after its Talabat unit's weak debut on the Dubai exchange. Ashtead dropped over 11% after announcing a New York primary listing and lower profit guidance. TeamViewer slid 12% after a $720 million acquisition of software firm 1E. On the upside, Commerzbank gained...
US stocks showed mixed performance on Tuesday, with the S&P 500 hovering near the flatline, the Dow Jones slipping 110 points, and the Nasdaq gaining 0.4%. This came after losses in the previous session, as traders remained cautious and awaited key catalysts, including tomorrow's CPI report, to gauge the Fed's action at next week's policy meeting. Communication services was the top performing sector while utilities fell the most. On the corporate front, shares of Alphabet gained about 5% after the company announced that it has addressed a significant challenge in quantum computing with...
European markets traded in negative territory on Tuesday, retreating from yesterday's mostly positive trading session as investors braced for the latest U.S. inflation report this week. The pan-European Stoxx 600 fell 0.3% during morning trade. Basic resources stocks led the losses, dropping 1.2% as investors reacted to weaker-than-expected Chinese import and export figures. Traders await U.S. inflation data due on Wednesday. The consumer price index data is likely to influence how the Federal Reserve moves to raise interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones...
Hong Kong stock market ended lower on Tuesday with the benchmark Hang Seng Index down 0.5 percent to close at 20,311.28 points. The Hang Seng China Enterprises Index dipped 0.74 percent to end at 7,306.16 points, and the Hang Seng Tech Index lost 1.39 percent to close at 4,591.94 points. Source : CTX
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...