Investors cheered Federal Reserve Chair Jerome Powell's Jackson Hole address, which gave a green light to buy risky assets on the hope the central bank is ready to cut rates, but took his dovish message with a note of caution as they see a risk of stagflation ahead and worry markets are over-optimistic. In his final address as Fed chair at the Jackson Hole, Wyoming, economic symposium, Powell hinted at a September interest rate cut but stopped short of committing, striking a careful balance between mounting job-market risks and lingering inflation worries. The speech on Friday came amid...
European stocks fell on Wednesday as global markets focused on the vote count after the US presidential election. The UK's FTSE 100 Index is expected to open 8 points lower at 8,167, Germany's DAX is down 65 points at 19,189, France's CAC is down 22 points at 7,383 and Italy's FTSE MIB is down 134 points at 34,098, according to data from IG. Global markets are focused on results emerging from key battleground states that are expected to determine the winner of the presidential election between former President Donald Trump and Vice President Kamala Harris. NBC News has projected winners...
The Nikkei 225 rose 1.3% to 39,000, while the broader Topix Index gained 0.9% to 2,690 on Wednesday, extending gains from the previous session and mirroring a rally on Wall Street. Investors are closely watching the US presidential election, with early results showing Donald Trump holding a strong lead with 95 electoral votes, while Kamala Harris has secured 35 so far. On the domestic front, a private survey revealed that sentiment among Japanese manufacturers weakened in November, driven by concerns over weak Chinese demand and ongoing inflationary pressures. Investors now await the Bank...
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
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
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...