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 index rose 0.8% to surpass 39,000, while the broader Topix index gained 1% to 2,735 on Thursday, with Japanese stocks recouping some of the losses seen earlier in the week as the yen depreciated to a 3-1/2-month low. A weaker yen supported the profit outlook for Japan's export-driven industries and boosted carry trades, where investors borrow in yen to invest in higher-yielding assets. Attention now turns to the release of third-quarter GDP data on Friday, which could provide further insight into Japan's economic outlook. Financial stocks led the day's rally, with...
The S&P 500 and the Dow Jones Industrial Average ended Wednesday's session near the flatline as the postelection rally lost some steam. Traders also contemplated a key inflation report that was in line with expectations. The S&P 500 inched higher by 0.02% to close at 5,985.38, while the 30-stock Dow ticked up 47.21 points, or 0.11%, to 43,958.19. The blue-chip index added as much as 230 points earlier on Wednesday. The Nasdaq Composite ended the day with a 0.26% decline and closed at 19,230.74. The October consumer price index accelerated a tad to a 2.6% annual rate, matching the...
The Stoxx Europe 600 Index fell for the second day, dropping 0.1%, or 0.64 to 501.59. The index dropped to the lowest closing level since Aug. 12. Infineon Technologies AG contributed the most to the index decline, decreasing 4.7%. Intermediate Capital Group Plc had the largest drop, falling 7.2%. Today, 395 of 600 shares fell, while 192 rose; 15 of 20 sectors were lower, led by technology stocks. Source : Bloomberg
A gauge of global stocks dipped for a second straight session and U.S. Treasury yields were slightly lower in choppy trading as investors digested the latest U.S. inflation data and the path of interest rates from the Federal Reserve. The Labor Department said the consumer price index (CPI) rose 0.2% for the fourth straight month, in-line with expectations of economists polled by Reuters. In the 12 months through October, the CPI advanced 2.6%, also matching forecasts, after climbing 2.4% in September. Treasury yields fell after the data, but reversed course somewhat to once again put...
The Hang Seng Index fell for the fourth day, dropping 0.1%, or 23.43 to 19,823.45 in Hong Kong. The index dropped to the lowest closing level since Sept. 25. Hong Kong Exchanges & Clearing Ltd. contributed the most to the index decline, decreasing 1.0%. WuXi AppTec Co. had the largest drop, falling 4.1%. Today, 52 of 82 shares fell, while 23 rose; all sectors were lower, led by properties stocks. Source : Bloomberg
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...