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...
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.88%. The best performers of the session on the Nikkei 225 were Otsuka Holdings Ltd (TYO:4578), which rose 5.27% or 357.00 points to trade at 7,135.00 at the close. Meanwhile, SoftBank Group Corp. (TYO:9984) added 4.98% or 367.00 points to end at 7,730.00 and Advantest Corp. (TYO:6857) was up 4.86% or 385.00 points to 8,314.00 in late trade. The worst performers of the session were M3 Inc (TYO:2413), which fell 4.20%...
Shares in Hong Kong surged 346 points, or 1.5%, to 24,138 during Monday morning trading, rebounding from losses in the prior session and hitting a 12-week high, with gains seen across all sectors. The rally was led by rare-earth and technology stocks as investors looked ahead to high-level U.S.-China trade talks. U.S. Treasury Secretary Bessent and Chinese Vice Premier He Lifeng are set to meet in London today in a bid to resolve ongoing trade tensions between the world's two largest economies. The talks follow a rare phone call last Thursday between Chinese President Xi Jinping and U.S....
Japanese stocks gained, boosted by stronger-than-expected US job and wage growth and a weaker yen against the dollar. Export-related sectors such as electronics, automobiles, shipping and materials, including glass, ceramics and non-ferrous metals, contributed to the increase. Financial stocks such as banking and insurance also advanced, supported by rising U.S. interest rates. Pharmaceutical stocks traded higher. The Topix Index rose 0.7% to 2,787.79 as of 9:18 a.m. Tokyo time, while the Nikkei advanced 1% to 38,122.27. Sony Group Corp. contributed the most to the...
Asian markets climbed Monday as investors awaited trade talks between the U.S. and China later in the day, following accusations between the two over breaching deal terms agreed in Geneva last month. Trade tensions are seemingly easing as China has reportedly granted temporary approvals for the export of rare earths, while jetliner Boeing Co has begun commercial jet deliveries to the Asian superpower. China is also slated to release a slew of data, including its consumer and wholesale inflation readings for May. Economists polled by Reuters expect consumer prices to have fallen by...
US stocks rallied on Friday, with the S&P 500 adding 1% to cross over the 6,000 mark and hitting its highest level since February, boosted by a stronger-than-expected jobs report and renewed optimism around US-China trade talks. The Dow gained 442 points and the Nasdaq rose 1.2%, led by a sharp rebound in Tesla, which jumped 3.7% after tensions between Elon Musk and President Trump appeared to cool. The labor market added 139K jobs in May, exceeding forecasts and easing fears of a near-term slowdown. Meanwhile, Trump offered a glimmer of optimism on the trade front, announcing that...
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...