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...
European stocks regained ground on Thursday, boosted by technology and resources shares, while Britain's FTSE 100 dipped after the Bank of England cut interest rates but projected higher inflation following the new government's first budget. The pan-European STOXX 600 closed 0.7% higher, powered by a 2.2% bounce in the tech sector recouping losses from the previous session. Autos also added 2.2% after a more than 2% decline on Wednesday. Investors will now shift their focus to the U.S. Federal Reserve's interest rate decision at 1900 GMT. Europe's STOXX 600 gained as much as 1.9% in the...
Shares on Wall Street scaled record highs on Thursday, lifting stock markets around the world, while U.S. Treasuries yields retreated as investors processed a second Donald Trump presidency and awaited a Federal Reserve policy decision. The Fed is expected to cut interest rates by 25 basis points at the end of its policy meeting on Thursday, a decision that may seem a footnote given the uncertain economic terrain it may soon navigate under a second Trump administration. The S&P 500 rose 0.5%, the Dow Jones Industrial Average added 0.12%, and the Nasdaq Composite jumped 1.1%. All three...
The Hang Seng Index rose 2% at 20,953.34 in Hong Kong. The move follows the previous session's decrease of 2.2%. Meituan contributed the most to the index gain, increasing 5.6%. Haidilao International Holding Ltd. had the largest increase, rising 9.3%. Today, 65 of 82 shares rose, while 16 fell; all sectors were higher, led by commerce and industry stocks. Source : Bloomberg
Japanese stocks fell on Thursday as the yen slumped to its lowest since July, with Donald Trump's victory in the U.S. presidential election fueling expectations of a weaker yen due to his expansionary economic agenda. The Nikkei 225 fell 0.25% to close at 39,381.41. Trump's economic policies are seen as more expansionary and inflationary than Harris', reducing the likelihood of aggressive Federal Reserve interest rate cuts. The Japanese market, known for its size and liquidity, saw heavy trading in the dollar-yen pair during Asian hours. The yen fell 1.6% to 153.98 per dollar in Tokyo,...
Trump won the presidential election. Hong Kong market fell sharply. The market opened lower on Thursday. Hang Seng index opened down 153 points, H share index down 54 points and technology index down 42 points. Xiaomi lost 1.8% for 14-point loss. Meituan lost 0.68% for 12-point loss. Alibaba lost 0.63% for 10-point loss. BYD ;pst 2/75% for 13-point loss. Techtronic lost 4.6% for 12-point loss to become the top loser. HSBC went ex-dividend and caused 17-point loss. Source : aastocks.com
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...