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...
US stocks closed mostly higher on Thursday (July 10th) as investors shrugged off President Trump's latest tariff threats and focused on strong corporate performance and record-breaking profits. The S&P 500 rose nearly 0.3%, hitting a new record, the Dow Jones Industrial Average gained 192 points, while the Nasdaq 100 fell about 0.2%. Despite Trump's announcement of a 50% tariff on Brazilian imports and confirmation of similar duties on copper and other goods starting August 1st, the market remained optimistic. Nvidia shares (0.7%) continued to rally after becoming the first public...
European stock markets rose for the fourth day as investors awaited news on U.S. tariffs and trade agreement. The STOXX Europe 600 index provisionally ended the session up 0.5%. Regionally, the U.K.'s FTSE 100 was up 1.2%, France's CAC 40 was higher by 0.3%, while Germany's DAX bucked the trend by declining 0.3%. Global investors are brushing off a string of announcements of high U.S. tariffs because they are being viewed a "posturing," according to Hargreaves Lansdown's head of money and markets, Susannah Streeter. Ultimately, traders see room to negotiate top rates away in the weeks...
Wall Street opened muted on Thursday, taking a breather after Nvidia's $4 trillion sprint, while airline stocks jumped following Delta's upbeat forecast. At 09:31 a.m. the Dow Jones Industrial Average opens new tab fell 68.24 points, or 0.15%, to 44,390.06, the S&P 500 opens new tab lost 0.83 points, or 0.01%, to 6,262.43 and the Nasdaq Composite opens new tab gained 21.29 points, or 0.10%, to 20,632.63. Source: Reuters
The Hang Seng rose 136 points or 0.6% to close at 24,028 on Thursday, partly recovering from a sharp drop the day before amid strong gains in financial and property stocks. Traders looked for signs of policy support after China's producer prices last month shrank the most in near two years. Meanwhile, minutes from the June FOMC meeting showed that "most participants" expected rate cuts would be appropriate later this year, with any inflation from tariffs seen as "temporary or modest." Markets largely brushed off fresh tariff threats from U.S. President Trump, with analysts noting investors...
European stocks edged higher Thursday, with investors showing a degree of confidence even after U.S. President Donald Trump's latest salvo of trade tariffs. At 03:05 ET (07:05 GMT), the DAX index in Germany gained 0.4%, the CAC 40 in France climbed 0.4% and the FTSE 100 in the U.K. rose 0.8%. New U.S. tariff ratesOn Wednesday, U.S. President Donald Trump sent letters dictating new U.S. tariff rates on at least seven more countries' imports, adding to the letters sent to 14 other countries earlier this week. He also announced a 50% tariff on Brazil after a spat with his Brazilian...
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...