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...
U.S. stocks finished lower on Tuesday as Wall Street took a breather from a postelection rally that propelled the major stock indexes to all-time highs. The Dow Jones Industrial Average lost 0.9%, ending near 43,910, according to preliminary data from FactSet. It was the worst day for the blue-chip index since Oct. 31, according to Dow Jones Market Data. The S&P 500 was off 0.3%, to finish around 5,984. The large-cap benchmark index snapped a five-session winning streak. The Nasdaq Composite dropped less than 0.1%, leaving it nearly flat at 19,281. Stocks viewed as beneficiaries of...
European markets fell sharply on Tuesday, with the Stoxx 50 and Stoxx 600 dropping over 2%, marking the biggest decline since August. Investors are concerned about how US President-elect Donald Trump's return to office might impact Europe's economy. Most sectors were in the red, with mining stocks leading the losses, down by 4% due to lower metal prices like gold and copper. Technology stocks were the only sector to see slight gains. Investors are also focusing on economic data, with the ZEW Indicator of Economic Sentiment for Germany declining more than expected. Also, German inflation...
A rally that drove stocks to a series of all-time highs ran out of steam, with Wall Street traders awaiting key inflation data and more clues on Donald Trump's transition to presidency. Equities fell after the S&P 500's biggest five-day run in a year. Following sizable post-election gains, small caps and banks lost ground. Nvidia Corp. led megacaps higher, while Tesla Inc. dropped 3% after soaring 44% in five days. Bitcoin fell after a sizzling advance that took the digital asset close to $90,000....
The Hang Seng Index fell for the third day, dropping 2.8%, or 580.05 to 19,846.88 in Hong Kong. The move was the biggest since falling 3.7% on Oct. 15. Meituan contributed the most to the index decline, decreasing 5.3%. Zhongsheng Group Holdings Ltd. had the largest drop, falling 9.6%. Today, 76 of 82 shares fell, while 6 rose; all sectors were lower, led by commerce and industry stocks. Source : Bloomberg
The Nikkei 225 index rose 0.5% to above 39,700 while the broader Topix index gained 0.9% to 2,765 on Tuesday, extending gains from the previous session and taking cues from a strong lead on Wall Street as a post-election rally sent major U.S. indexes to all-time highs. The rally was fueled by optimism surrounding a Trump victory and a possible Republican landslide in Congress, raising expectations for deregulation and tax cuts. In Japan, investors were focused on the Bank of Japan's monetary policy outlook after the latest minutes of its opinion revealed a split among policymakers over the...
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...