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...
Hong Kong stocks fell, halting a three-day advance, as traders shunned riskier assets before a tight US presidential election race. Investors are concerned about the possible implications on global trade and financial markets. The Hang Seng Index dropped 1.4 per cent to 20,722.71 at 9.45am local time, after rallying 3.4 per cent since Friday. The Tech Index slipped 1.3 per cent. The CSI 300 Index of onshore stocks climbed 0.1 per cent to approach a three-week high, while the Shanghai Composite Index added 0.1 per cent. E-commerce platform operator Alibaba Group retreated 2.4 per cent to...
The Nikkei 225 Index climbed 1.3% toward 39,000, while the broader Topix Index rose 0.9% to 2,690 on Wednesday, extending gains from the previous session and mirroring the rally on Wall Street. Investors are closely monitoring the US presidential election, with early results showing Donald Trump holding a strong lead with 95 electoral votes, while Kamala Harris has secured 35 electoral votes so far. On the domestic front, a private survey revealed that sentiment among Japanese manufacturers weakened in November, driven by concerns over softening Chinese demand and ongoing inflationary...
The S&P 500 rose solidly on Tuesday as traders awaited the results from a high-stakes U.S. presidential election. The broad market index gained 1.1%, and the Nasdaq Composite advanced 1.3%. The Dow Jones Industrial Average climbed 373 points, or 0.9%. The race between former President Donald Trump and Vice President Kamala Harris is expected to be tight. Close attention also remains on which party dominates Congress, given that a sweep by Republicans or Democrats could contribute to drastic spending changes or a big revamp of tax policy. Source: CNBC
European stocks closed slightly higher on Tuesday, with the Stoxx 50 gaining 0.5% and the broader Stoxx 600 edging up 0.1% as global markets awaited the US presidential election outcome. Industrial stocks rose by 1.2%, while the autos sector fell 1.87%. Shares of Hugo Boss dropped 4.5% despite a better-than-expected Q3 operating profit, due to concerns over declining sales in the Asia-Pacific region amid China's economic slowdown. Schroders shares also plunged 13.4% following its latest trading update. Investors are closely monitoring which party will control Congress, as a...
The S&P 500 rose solidly on Tuesday as traders awaited the results from a high-stakes U.S. presidential election. The broad market index gained 0.9%, and the Nasdaq Composite advanced 1.2%. The Dow Jones Industrial Average climbed 313 points, or about 0.8%. The latest poll from NBC News suggests the race is "neck and neck" between former President Donald Trump and Vice President Kamala Harris. Close attention also remains on which party dominates Congress, given that a sweep by Republicans or Democrats could contribute to drastic spending changes or a big revamp of tax policy. 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...