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...
(Hong Kong) The Hang Seng Index opened with a gain of 65 points, or 0.28%, to stand at 23,398 on Monday. The China Enterprises Index rose 26 points, or 0.3%, to 8,486, while the Hang Seng Tech Index climbed 11 points, or 0.22%, to 5,266, reflecting mixed performance across technology stocks. Among tech giants, Tencent slipped 0.2%, while Alibaba advanced 0.6%. Meituan declined by 1.1%, but Xiaomi gained 1.2%, JD.com rose 0.2%, and Kuaishou improved by 0.5%. Financial stocks also showed a mixed trend, with HSBC rising 0.3%, AIA slipping 0.6%, Ping An Insurance advancing 0.7%, and Hong Kong...
The Nikkei 225 jumped 329 points or 0.9%, to 37,830 in early Tuesday trade, recovering from the prior day's weakness. The rally followed a modest rise in U.S. futures after the S&P 500 eked out a gain despite Moody's downgrade of the U.S. credit outlook. The broader Topix index also climbed, extending recent gains. Investors kept a close watch on ongoing U.S.-Japan trade talks, hoping for a finalized deal by June. On the corporate front, Reuters said that Nippon Steel plans to invest $14 billion in U.S. Steel's operations. Gains were tempered by caution ahead of Japan's upcoming April...
US stocks pared early losses on Monday, with the S&P 500 ending 0.1% higher after falling 1.1%, as Treasury yields retreated from their highs. The Dow rose 137 points, while the Nasdaq edged higher, as markets digested a Moody's downgrade of the US credit rating to Aa1, citing rising deficits and refinancing risks. The downgrade pushed the 10-year yield near 4.5% and the 30-year above 5%, levels that have previously weighed on equities. Treasury Secretary Scott Bessent downplayed the move and urged trading partners to engage during a 90-day tariff pause. President Trump has continued to...
European stocks recouped losses from earlier in the day to close flat, after bonds came off session lows and several companies delivered good earnings. The Stoxx Europe 600 Index closed 0.1% higher, having earlier shed as much as 0.8%. The losses came after Moody's Ratings stripped the US government of its top credit rating soured investor sentiment and trade tensions continued to weigh. While auto and energy shares lagged, telecoms, travel and leisure stocks made gains. A large quantity of European shares were also trading ex-dividend. Among individual stocks,...
US stocks were lower on Monday, with the S&P 500 down 1%, the Nasdaq falling 1.3%, and the Dow shedding around 280 points, as investors retreated from US assets amid growing concerns over the country's fiscal and economic outlook. The sell-off followed Moody's downgrade of the US credit rating from Aaa to Aa1 on Friday, citing rising government debt and a widening budget deficit. Adding to the pressure, a key congressional committee on Sunday approved President Trump's proposed tax-cut package, which includes hundreds of billions of dollars in new, unfunded tax reductions, deepening...
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...