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...
Major European bourses traded lower on Thursday, with both the STOXX 50 and STOXX 600 down 0.4% as investors digest fresh corporate earnings, look ahead to the European Central Bank's upcoming policy decision and continue to follow the trade war. Hermes shares fell 3% after the luxury brand reported a 7% year-on-year revenue increase in Q1, falling short of expectations for 7.6%. In contrast, Siemens Energy surged nearly 10% after the company raised its outlook for fiscal 2025, with first-quarter revenue and profit also exceeding forecasts. Meanwhile, the ECB is widely expected to deliver...
The Nikkei 225 index rose 1.35% to close at 34,377 while the broader Topix index jumped 1.29% to 2,530 on Thursday, reversing losses from the previous session as progress in U.S.-Japan trade talks lifted market sentiment. President Donald Trump met with Japanese Economy Minister Ryosei Akazawa, with discussions reportedly expanding to include the cost of troop deployment, adding a geopolitical dimension to the negotiations. On the economic front, Japan's March export growth missed expectations, dragged down by weak demand from China and the EU. However, a return to positive import growth...
Hong Kong stocks rose 266 points, or 1.3%, to 21,324 in early trade on Thursday, led by broad sector gains. The gains followed a weak session and came amid a surge in U.S. stock futures, following an overnight sell-off on Wall Street sparked by Fed Chair Powell's warning that trade tensions could threaten the Fed's inflation and employment targets. Meanwhile, mainland Chinese markets attempted to extend their four-day winning streak after better-than-expected Q1 GDP data. Additionally, reports suggested that Beijing was seeking specific steps from President Trump before agreeing to trade...
Asian stocks traded in a tight range and the yen weakened after US-Japan trade talks advanced, as investors adopt a wait-and-see approach to see how other tariff negotiations unfold. Japanese shares gained slightly after President Donald Trump said negotiators made "big progress" in talks to strike a deal to avoid higher levies. The yen weakened after the country's chief trade negotiator said currencies weren't discussed. Gold advanced to a record while Treasury yields and a gauge of the dollar inched up. The progress in discussions with Japan, "while preliminary, offer a...
Japanese stocks rose as some bargain hunting began following recent declines despite continued uncertainty over U.S. tariffs. Electronics and heavy industry shares led the gains. TDK rose 3.0% and Lasertec added 1.5% while Kawasaki Heavy Industries gained 2.4% and IHI added 1.4%. USD/JPY was at 142.28, compared with 142.36 at the close of trading on the Tokyo Stock Exchange on Wednesday. Investors were focused on tariff-related news ahead of the earnings season that starts next week. The Nikkei Stock Average was up 0.2% at 33,986.96. Source: Bloomberg
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...