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 equites closed slightly higher on Thursday, as a rally in Oracle shares and cooling inflation offset lingering trade uncertainties. The S&P 500 rose 0.4% and Nasdaq gained 0.2%, lifted by a 13% surge in Oracle shares following strong quarterly results and an upbeat forecast for cloud growth driven by AI demand. However, Boeing fell 4.7% after a deadly crash involving an Air India Dreamliner, weighing on the Dow, which closed 101 points higher. Economic data showed further signs of easing inflation, with the Producer Price Index rising just 0.1% in May, boosting hopes for a Federal...
Stocks slid Thursday as U.S. President Donald Trump threatened setting unilateral tariffs on trading partners in two weeks. The S&P 500 lost 0.1%, while the Nasdaq Composite was down 0.1%. The Dow Jones Industrial Average was also lower by 191 points, or 0.5%. Dow component Boeing shed 4% after an Air India Dreamliner 787 crashed after takeoff with 242 passengers on board. Shares of Oracle surged 11% after the company reported fiscal fourth-quarter results that beat on the top and bottom lines and indicated more cloud growth ahead. Stocks were weaker even as investors got...
The Hang Seng plunged 331 points, or 1.4%, to close at 24,035 on Thursday, reversing gains from the previous session amid a plunge in U.S. futures following President Trump's threat of new tariffs. This came just a day after China and the U.S. struck a positive tone in talks to ease tensions. Trump said letters detailing the terms of a new trade deal would be sent to countries within weeks, which they could either accept or reject. The market retreated from a nearly three-month high, with all sectors down as traders locked in profits. Sentiment also turned cautious ahead of U.S. PPI data...
European stock markets have opened sharply lower, with the Stoxx 600 index falling 0.42% and almost all sectors in the red led by travel, down 1.5%. Global sentiment has not been improved by the latest updates on U.S. tariffs, with high duties that Washington has imposed on China expected to remain in force and with negotiations with key U.S. trading partners looking set to rumble on beyond the initial July 9 deadline. The U.K.'s FTSE 100 initially dipped after closing at a record high on Wednesday, but was last fractionally above the flatline after figures showed the British economy...
Japan stocks were lower after the close on Thursday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.68%. The best performers of the session on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 16.95% or 150.00 points to trade at 1,035.00 at the close. Meanwhile, Mitsubishi Heavy Industries, Ltd. (TYO:7011) added 4.88% or 160.00 points to end at 3,436.00 and Japan Steel Works Ltd (TYO:5631) was up 4.45% or 322.00 points to 7,551.00 in late trade. The worst performers of 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...