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...
Stocks jumped Friday after the latest nonfarm payrolls data came in better than expected, easing concern the economy faces an imminent slowdown. The Dow Jones Industrial Average popped 510 points, or 1.2%. The S&P 500 also gained 1.2% — touching the 6,000 level for the first time since late February — and the Nasdaq Composite rallied 1.4%. The market's move higher was supported by a more than 3% gain in Tesla. Shares of the electric vehicle maker weighed on the market Thursday, tumbling 14%, as CEO Elon Musk sparred with President Donald Trump on social media. Other major tech-related...
The Hang Seng fell 114 points, or 0.5%, to close at 23,793 on Friday, snapping a three-day winning streak and retreating from a two-week high reached the previous day, primarily dragged down by losses in the tech sector. Traders remained cautious amid continued uncertainty over US-China trade talks, after a recent call between Washington and Beijing offered little clarity on easing tensions. The Hang Seng also tracked a downbeat session on Wall Street overnight, pressured by a dispute between Donald Trump and Elon Musk, along with renewed concerns over US-China trade relations....
Hong Kong stocks fell on Friday, snapping a three-day gain, after talks between US President Donald Trump and his Chinese counterpart Xi Jinping failed to produce a breakthrough on ending the tariff dispute. The Hang Seng Index eased 0.4 per cent to 23,823.89 at 10.10am local time, trimming the week's advance to 2.3 per cent. The Hang Seng Tech Index dropped 0.6 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both retreated 0.1 per cent. Chinese electric-vehicle maker Li Auto lost 2.4 per cent to HK$114 and China Mobile retreated 2.2 per cent to HK$87.25....
The Nikkei 225 Index rose 0.4% to above 37,600 while the broader Topix Index gained 0.4% to 2,767 on Friday, reversing losses from the previous session as the recent phone call between US President Donald Trump and Chinese President Xi Jinping lifted market sentiment. The two leaders agreed to resume trade negotiations aimed at ending the ongoing trade war. In Japan, data showed that household spending unexpectedly declined in April, reflecting the impact of rising prices on consumer demand. The softer spending figures add to the growing list of considerations for the Bank of Japan as it...
Wall Street closed lower on Thursday as investors grappled with a public feud between President Trump and Elon Musk, fresh U.S.-China trade uncertainty and growing signs of a weakening labor market. The S&P 500 fell 0.5%, the Dow dropped 107 points and the tech-heavy Nasdaq dropped 0.8%, dragged down by Tesla's sharp losses. Tesla shares plunged 14.3% after Trump criticized Musk for his opposition to a sweeping tax and spending bill, suggesting he might strip Musk's companies of government contracts and subsidies. Earlier optimism from a phone call between Trump and Chinese President Xi...
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...