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 moved lower to start the week as investors monitored the latest developments on global trade, including another surprise set of tariffs from President Donald Trump. The broad-market index shed 0.2%, while the Nasdaq Composite dipped about 0.3%. The Dow Jones Industrial Average gained 115 points, or nearly 0.3%, meanwhile. The major indexes cut losses after data Monday from the Institute for Supply Management reflected stronger-than-expected service sector activity in April, even as company executives reported rising concern about tariffs. At its lows, the Dow fell as much...
The Dow Jones Industrial Average (DJIA) rose another 100 points on Monday, extending the ongoing equity recovery even as investor sentiment continues to churn in the face of constantly changing trade policies from the US administration. The Federal Reserve (Fed) is poised to deliver another rate call this week, and Fed policymakers are broadly expected to maintain their wait-and-see approach. Rate markets have fully priced in another hold on rates this Wednesday. Trade policy inconsistency remains the single large cloud hanging over equity markets, keeping bullish momentum tepid overall. US...
A historic stock market rally stalled as President Donald Trump's latest tariff warnings did little to bolster sentiment as investors braced for the economic and corporate earnings effects of his trade war. Even data showing a pickup in U.S. service provider growth failed to lift sentiment, with the S&P 500 snapping its longest winning streak in about 20 years. While Trump hinted some sort of trade deal could be reached this week, he signaled no immediate deal with China. As the president expanded his restrictions on U.S. imports to entertainment, shares of companies such as Netflix...
European stocks opened mixed on Monday, with U.K. markets closed for a bank holiday, as investors awaited fresh economic data and corporate earnings reports due later in the week. Germany's DAX was last up 0.22%, while Italy's FTSE MIB traded around the flatline and France's CAC 40 fell 0.43%. Santander announced Monday that Austria's Erste Group Bank has acquired about a 49% stake in Poland-based Santander Bank Polska and 50% of Polish asset manager Santander TFI. Erste Group shares were last up about 6.2%. Data released Monday showed that Swiss inflation fell to 0% in April from the...
US stocks rose on Friday, boosted by a strong jobs report and signs of easing U.S.-China trade tensions that boosted investor confidence. The S&P 500 rose nearly 1.5%, marking its ninth straight gain and its longest winning streak in two decades. The Dow Jones Industrial Average jumped 563 points, also extending its rally to a ninth straight session, while the Nasdaq gained 1.5%. April nonfarm payrolls rose by 177,000, beating expectations and bolstering optimism about the labor market despite ongoing tariff uncertainty. Sentiment was further buoyed by Beijing's openness to fresh trade...
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...