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 stocks closed firmly higher on Tuesday, extending the sharp gains from last session after prospects that the US could pause tariffs for autos and parts supported key sectors of the European economy. The Eurozone's STOXX 50 gained 1.2% and the pan-European STOXX 600 jumped 1.6%. Investor sentiment was buoyed by President Trump's remarks on Monday, indicating he is considering temporary exemptions on tariffs for imported vehicles and parts to give automakers more time to expand US-based production. Besides aiding companies with exposure to the auto sector, the remarks supported hopes...
The three major averages in the US were up nearly 0.3% on Tuesday, as investors weighed trade war developments against rising hopes for a temporary pause in auto tariffs. President Trump said on Monday he is considering temporary exemptions on tariffs for imported vehicles and auto parts, aiming to give manufacturers more time to ramp up US-based production. At the same time, the Commerce Department announced a new investigation into the national security implications of semiconductor and pharmaceutical imports, a move seen as laying the groundwork for fresh tariffs in those sectors. In...
The Hang Seng rose 49 points or 0.23% to finish at 21,466 on Tuesday, extending its winning streak to a sixth session and holding at a two-month peak. U.S. tariff exclusions on specific electronics continued to support sentiment, which helped ease concerns about President Trump's reciprocal tariffs on China. At the same time, U.S. futures were slightly higher after back-to-back gains on Wall Street S&P 500 Monday, with attention shifting to upcoming Q1 earnings results. However, advances were capped as investors awaited more clarity on trade developments, particularly after the U.S....
Stocks in Europe were higher on Tuesday, with both the STOXX 50 adding 0.3% and the STOXX 600 rising about 0.7%, as optimism grew over a potential pause in auto tariffs and the earnings season gained momentum. Investor sentiment was buoyed by President Trump's remarks on Monday, indicating he is considering temporary exemptions on tariffs for imported vehicles and parts to give automakers more time to expand US-based production. The auto sector led the gains, with Mercedes-Benz climbing 2.9%, BMW 2.5%, Volkswagen 2.8%, Stellantis 4.3%, and Renault 1.9%. Other sectors also traded in...
Japanese stocks rose after the close on Tuesday (4/15), as gains in the Real Estate, Banking and Textile sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 gained 0.89%. The best performers on the Nikkei 225 were Yokogawa Electric Corp. (TYO:6841), which rose 7.41% or 208.00 points to trade at 3,014.00 at the close. Meanwhile, Denso Corp. (TYO:6902) rose 5.64% or 94.00 points to close at 1,761.00 and Sumitomo Electric Industries Ltd. (TYO:5802) gained 5.27% or 107.50 points to 2,148.00 at the close. The worst performers on the session were Shiseido Co., Ltd. (TYO:4911),...
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...