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 European stock markets closed higher in Wednesday trading as the Stoxx Europe 600 rose 0.73%, Germany's DAX advanced 1.30%, the FTSE 100 was up 0.15%, France's CAC 40 increased 1.44%, and the Swiss Market Index gained 0.30%. In corporate news, British oil and gas giant BP said Wednesday that it reached an agreement to sell its mobility and convenience and BP pulse businesses in the Netherlands, which includes 300 fuel retail sites and 15 electric vehicle charging hubs, to Catom. Pharmaceutical company Merck said Wednesday that it has agreed to acquire UK-based biopharmaceutical company...
Wall Street's main indexes opened higher on Wednesday, as investors shrugged off President Donald Trump's aggressive tariff moves and kept a close watch on negotiations with global trade partners. At 9:31 a.m. ET, the Dow Jones Industrial Average opens new tab rose 177.94 points, or 0.40%, to 44,418.70, the S&P 500, opens new tab gained 25.54 points, or 0.41%, to 6,251.06 and the Nasdaq Composite, opens new tab gained 118.04 points, or 0.58%, to 20,536.50. Source: Reuters
The Hang Seng lost 256 points or 1.1% to close at 23,892 on Wednesday, giving up gains from the prior session amid weak data from China. Consumer prices on the mainland edged up in June for the first time in five months, but deflation risks lingered. Meanwhile, producer prices fell the most in two years as muted demand and tariff-related uncertainties intensified price competition. Losses were broad-based, driven by falls tech, property, and consumers. Henderson Land plunged 8.6% after issuing a HKD-denominated convertible bond. Other notable laggards included Sun Hung Kai Properties...
The Nikkei 225 rose 0.33% to close at 39,821 on Wednesday, while the broader Topix Index advanced 0.41% to 2,828, extending gains from the previous session despite growing trade tensions. Investors assessed the latest tariff developments from Washington, where US President Donald Trump confirmed that there would be no revisions or delays to the updated duties targeting 14 countries. Japan is set to face a 25% tariff beginning August 1. Japanese Prime Minister Shigeru Ishiba called the move "truly regrettable" but emphasized that Tokyo will continue talks with the US in pursuit of a...
Hong Kong shares fell 197 points, or 0.8%, to 23,953 around midday Wednesday, reversing gains from the previous session after U.S. President Donald Trump escalated his global trade war by threatening a 50% tariff on copper and signaling upcoming levies on semiconductors and pharmaceuticals. In China, consumer prices rose slightly in June after four months of decline, indicating that deflationary pressures remained elevated. Meanwhile, producer prices saw their steepest drop in near two years amid intense competition, weak demand, and mounting U.S. tariffs. Losses were almost broad-based,...
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...