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...
US stock futures pointed higher on Monday as investors assessed the staying power of a post-election rally and looked ahead to fresh economic data this week. By 03:20 ET (08:20 GMT), the Dow futures contract had added 82 points or 0.2%, S&P 500 futures had jumped by 15 points or 0.3%, and Nasdaq 100 futures had gained 73 points or 0.4%. The benchmark S&P 500 hit a fresh all-time peak and touched the 6,000 level for the first time on Friday, boosted by hopes that Donald Trump would roll out tax cuts and extensive deregulation during his second four-year term in the White...
The Hang Seng Index fell for the second day, dropping 1.5%, or 301.26 to 20,426.93 in Hong Kong. The index dropped to the lowest closing level since Oct. 31. Meituan contributed the most to the index decline, decreasing 3.2%. Longfor Group Holdings Ltd. had the largest drop, falling 5.1%. Today, 62 of 82 shares fell, while 14 rose; 3 of 4 sectors were lower, led by finance stocks. Source : Bloomberg
The Hang Seng Index got off to a rough start on Monday, hitting a new low for November on disappointment over stimulus measures released from China's briefing before the weekend. Hong Kong equities will of course be watching for any China-related headlines that President-elect Trump is likely to deliver. Also, this week will see earnings from the Hang Seng Index's two largest companies — Tencent topping the charts on Wednesday and Alibaba following on Friday. Tencent's previous earnings report comfortably beat estimates, which helped boost the HSI at the time. Although the gauge fell back...
UK homebuilder Vistry plunges 15% European markets closed lower on Friday, as investors digested corporate results and quarter-point interest rate cuts from the U.S. Federal Reserve and Bank of England. The pan-European Stoxx 600 ended the session 0.66% lower, with most sectors and major bourses in closing in the red. Mining stocks led the losses, shedding 4.2%, while travel and leisure stocks ticked up 0.8%. The index ended down 0.19% on the week. The losses in Europe come as market participants continue to assess political upheaval in Germany and President-elect Donald Trump's historic...
Europe's benchmark STOXX 600 logged its third consecutive week of declines on Friday, hurt by underwhelming stimulus measures from China as well as concerns about tariffs under a Trump presidency hurting economic growth. The pan-European STOXX 600 closed down 0.6%, with China-exposed sectors such as miners and luxury losing more than 3% each. Most major subsectors were in the red barring defensive sectors such as real estate and healthcare. China unveiled a 10 trillion yuan ($1.40 trillion) debt package on Friday, disappointing investors who had speculated on a fiscal bazooka. Metal prices...
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...