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...
European markets were mixed on Tuesday as investors assessed a wave of earnings for signs of how US tariffs and global uncertainty are affecting companies. The Stoxx 50 was down 0.2% while the Stoxx 600 rose 0.2%, though the autos sector slipped 0.4%, led by Volvo Cars, which reported a sharp drop in Q1 profit and suspended its full-year guidance. The Swedish automaker also announced SEK 18 billion ($1.87 billion) in cost cuts. Porsche fell 7.4% after cutting its sales and margin forecasts, citing US tariffs. In banking, HSBC beat Q1 estimates despite year-on-year declines in profit and...
Hong Kong equities rose 123 points or 0.6% to 22,095 in Tuesday's morning session, rebounding from a muted day as a modest rise in U.S. futures lifted sentiment. Gains came as investors awaited more earnings reports following a volatile Wall Street session overnight. China's commitment on Monday to aid exporters and workers impacted by U.S. tariffs continued to boost confidence, complemented by contingency plans aimed at bolstering the broader economy. On the trade front, Hong Kong's exports surged 18.5% yoy in March—the strongest growth in over a year and the highest value in three years—as...
Asia-Pacific markets had a sluggish open as investors awaited the extent of the impact of U.S. President Donald Trump's tariffs on corporate earnings and economic data expected from Wall Street this week. Market watchers were also closely monitoring developments surrounding trade deal negotiations between the U.S. and countries in the region. Australia's benchmark S&P/ASX 200 started the day 0.38% higher. Over in South Korea, the Kospi index was down 0.13% while the small-cap Kosdaq added 0.43%. Futures for Hong Kong's Hang Seng index stood at 21,999, pointing to a slightly higher...
U.S. stocks ended mixed on Monday as Wall Street braced for a packed week of big-name earnings and key economic data. The S&P 500 rose about 0.1% and the Dow Jones Industrial Average gained 0.3%, with both indexes posting their fifth straight session of gains, while the Nasdaq 100 fell 0.1%, weighed down by early losses before a late-session rebound in Big Tech. Investors remain focused on upcoming quarterly results from Amazon, Apple, Meta Platforms and Microsoft, as well as signs of how President Trump's sweeping tariffs are affecting the company's outlook. While earnings have largely...
European markets closed higher on Monday, as investors digested a slew of key earnings and data releases in both Europe and the U.S. this week. The Stoxx 600 closed provisionally higher by 0.5%, with travel and banking sectors leading gains. Regionally, the FTSE 100 closed up 0.02% — its 11th straight day of gains and its best gain since late 2019. France's CAC 40 and Germany's DAX rose 0.5% and 0.06%, respectively. Top posts Deliveroo shares jump after DoorDash bid as company suspends share buybacks | see post Mediobanca makes $7.2 billion takeover bid for Banca Generali | see...
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...