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 edged to a new record close on Tuesday, and the Nasdaq 100 gained 0.4%, building on Monday's record finish. Meanwhile, the Dow slipped 76 points as investors awaited fresh market catalysts. Investors digested stronger-than-expected October JOLTS data, with job openings rising by 372,000 to 7.74 million, while the quits rate increased to 2.1%, signaling worker confidence. Markets now see a 74% chance of a Fed rate cut on December 18, up from 62% a day earlier. In corporate news, US Steel Corporation shares fell 8% after President-elect Donald Trump pledged to block its $15...
Stocks slipped Tuesday, taking a breather following a major rally that has taken U.S. benchmarks to record levels. The S&P 500 slid 0.1%, while the Nasdaq Composite slipped slightly below the flatline. The Dow Jones Industrial Average fell 65 points, or 0.2%. Both the S&P 500 and Nasdaq hit new record highs on Monday, adding to their strong postelection gains. Since the Nov. 5 vote, the S&P 500 has climbed 4.6%, and the Nasdaq has rallied 5.2%. The Dow is up 6% since then, and is trading near the key 45,000 level. Economic data released on Tuesday morning showed that job...
European stocks rose on Tuesday, with the Stoxx 50 and Stoxx 600 climbing 0.5% and 0.6%, respectively, to reach a one-month high, driven by a 1.6% rise in retail stocks and over 1% gains in construction and materials. However, insurance stocks fell by 0.4%. In France, political tensions are high as Prime Minister Michel Barnier used special constitutional powers to pass a controversial budget, prompting opposition parties to push for a no-confidence vote that could happen Wednesday. Despite this, France's CAC 40 closed 0.3% higher, trimming earlier gains, while Germany's DAX crossed the...
Wall Street opened a touch lower on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials. The Dow Jones Industrial Average fell 12.4 points, or 0.03%, at the open to 44769.58. The S&P 500 fell 4.2 points, or 0.07%, at the open to 6042.97, while the Nasdaq Composite dropped 39.6 points, or 0.20%, to 19364.343 at the opening bell. Source: Reuters
The Hang Seng jumped 196 points, or 1.0%, to close at 19,746 on Tuesday, recovering from morning losses after China's central bank pledged to adopt supportive policies next year and ease financing costs for businesses and households. Governor Pan Gongsheng also said he intends to continue reforming the PBoC's monetary policy framework and expand its policy tools. The index closed higher for a third straight session, with positive sentiment buoyed by a Bloomberg News report that China's top leaders are scheduled to begin their annual closed-door Central Economic Work Conference next...
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...