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 S&P 500 and Nasdaq Composite pulled back from record highs Monday, with tech shares struggling and investors looking ahead to key inflation data due out this week. The tech-heavy Nasdaq and the broad market S&P 500 each lost 0.4%. The Dow Jones Industrial Average, on the other hand, hovered around the flatline. Nvidia shares dropped around 3% on the heels of a Chinese regulator announcing that it's investigating the AI chip darling for potentially violating the country's antimonopoly law. The stock has been a bellwether for the artificial intelligence trade, up about 179% in...
The Stoxx 50 and Stoxx 600 edged up on Monday, as investors prepared for a week of key developments, including the ECB's anticipated 25-basis-point rate cut on Thursday, its fourth this year. Markets are keen for hints on whether the ECB might accelerate rate cuts to aid Europe's struggling economy. Sentiment was further lifted by China's pledge to implement "moderately loose" monetary policies and "more proactive" fiscal measures, fueling hopes of increased domestic consumption and benefiting European luxury stocks like Kering, which jumped up to 4%. Volkswagen rose over 1% amid ongoing...
US stocks drifted in tight ranges Monday as investors consolidated recent gains ahead of the release of key inflation data this week for more cues on interest rates. At 09:35 ET (14:35 GMT), the Dow Jones Industrial Average was up 75 points, or 0.2%, while the S&P 500 index dropped 7 points, or 0.1%, and the NASDAQ Composite fell 40 points, or 0.2%. The S&P 500 and the NASDAQ Composite closed at fresh records Friday, rising around 1% and over 3% for the week, respectively. The Dow Jones Industrial Average lagged behind, closing the week down 0.6%.CPI data awaited for more rate cues...
European markets opened higher on Monday as the new trading week kicked off, with investors weighing geopolitical turmoil. Shortly after markets opened, the pan-European Stoxx 600 was up by around 0.3%, with all major regional bourses and most sectors trading in positive territory. Traders will be assessing geopolitical upheaval in the Middle East after the ousting of Syrian President Bashar al-Assad over the weekend. Western leaders have greeted the overthrow of the Assad dynasty by rebel forces with caution, fearing a power vacuum and more instability in the region. Meanwhile,...
Hong Kong's shares were almost flat in the Monday morning session, trading around 19,868 following a rally in the prior session, with investors responding to China's CPI and PPI data. Consumer prices in the mainland rose by 0.2% yoy in November, missing consensus of 0.5% while marking the softest increase in five months. At the same time, producer prices fell by 2.5%, pointing to the 26th month of drop despite softening from October's print of a 2.9% fall. On local data, forex reserves in the city notched a nine-month peak of USD 425 billion last month. Market participants monitored...
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...