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...
The S&P 500 index closed higher on Monday as investors were still optimistic over trade talks between the United States and its trading partners despite President Donald Trump's latest salvo to double tariffs on imported steel and aluminum. Trump said late on Friday he planned to increase tariffs on imported steel and aluminum to 50% from 25% starting Wednesday, just hours after he accused China of violating an agreement. China said on Monday that U.S. President Donald Trump's accusations that Beijing had violated the consensus reached in Geneva trade talks were "groundless" and...
US stocks rose on Monday, starting June with gains despite rising global trade tensions. The S&P 500 rose 0.4% and the Nasdaq gained 0.7%, while the Dow gained 35 points. Tensions between the US and China have flared again after Beijing dismissed US accusations of violating a tariff truce, instead blaming Washington. Markets are eyeing a possible phone call this week between President Trump and Chinese President Xi, which could prove crucial for trade clarity. Meanwhile, Trump's plan to double tariffs on steel and aluminum to 50% has rattled the EU, which has warned that the move would...
European stock markets ended the first trading day of the week lower. The Stoxx Europe 600 index was down 0.1%, France's CAC 40 was lower by 0.2%, and Germany's DAX was off by 0.3%. The U.K.'s FTSE 100 closed marginally in the black, with a 0.02% gain. President Donald Trump's move to double tariffs on steel and aluminum imports to 50% is likely to bite wind energy developer Orsted, according to analysts. The Danish multinational booked a loss of 1.2 billion Danish kroner ($183 million) in its first-quarter results in May after the U.S. imposed 25% tariffs on imports of steel and...
The Dow Jones Industrial Average dipped Monday, the first trading day of June, as global trade tensions increased. The 30-stock average lost 181 points, or 0.4%. The S&P 500 also pulled back 0.2%, while the Nasdaq Composite gained 0.2%. China pushed back against U.S. accusations that it had violated a temporary trade agreement. Instead, the country blamed Washington for failing to uphold the deal — a sign that negotiations between the world's two largest economies are deteriorating. Tensions reignited following a brief pause after U.S. Treasury Secretary Scott Bessent and Chinese Vice...
The Hang Seng fell 132 points or 0.6% to close at 23,158 on Monday, marking its second straight decline amid broad sectoral losses. Renewed Sino-U.S. trade tensions weighed on sentiment after China rejected President Trump's claims that it had violated a Geneva trade deal, calling the accusations "groundless" and vowing to take "forceful measures" in response. U.S. futures also dropped sharply after Trump announced a steel tariff hike to 50% starting Wednesday, with the European Commission warning of possible retaliation. However, markets trimmed earlier losses after Treasury Secretary...
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...