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 S&P 500 inched higher on Friday, ending four consecutive weeks of declines that were brought on by trade policy turmoil, recession fears and a rollover in megacap tech shares. The S&P 500 added 0.08%, rising into positive territory as the trading session drew to a close. The broad market index ended the day at 5,667.56. The Nasdaq Composite gained 0.52% and settled at 17,784.05, while the Dow Jones Industrial Average advanced 32.03 points, or 0.08%, to close at 41,985.35. The broad-market S&P 500 posted a 0.5% weekly advance, averting a fifth straight week of losses. The...
European markets closed lower on Friday, led by declines in the travel sector which was down 1.6% after the closure of Heathrow airport. The pan-European Stoxx 600, French CAC 40 and the U.K.'s FTSE 100 all closed around 0.6% lower, while the the German DAX shed 0.5%. The travel and leisure sector lost about 1.6% after London's Heathrow Airport closed on Friday following a fire at a nearby electrical substation. British Airways-owner International Airlines Groupwas trading around 1.9% lower. Basic resources including stocks such as ArcelorMittal and wood pulp processor Stora Enso were...
European markets provisionally closed lower on Friday, led by declines in the travel sector which was down 1.6% after the closure of Heathrow airport. The pan-European Stoxx 600 and French CAC 40 were both about 0.6% lower by 4.40 p.m. London time, while the the German DAX shed 0.5%. London's FTSE 100 was about 0.6% lower. The travel and leisure sector lost about 1.6% after London's Heathrow Airport closed on Friday following a fire at a nearby electrical substation. British Airways-owner International Airlines Group was trading around 1.9% lower. Basic resources — including stocks such...
U.S. stocks plunged on Friday, putting the S&P 500 on track to extend its slide since late February that has been fueled by trade policy turmoil, recession fears and a rollover in megacap technology stocks. The S&P 500 fell 0.4%, putting the index on track for its first five-week decline in more than two years. The Nasdaq Composite fell 0.6%. The Dow Jones Industrial Average fell 302 points, or 0.7%. Traders had been bracing for a potentially volatile session on Friday with so-called "quadruple witching" — when stock options, index futures and single-stock futures expire. Goldman...
The STOXX 50 fell 0.5%, and the STOXX 600 dropped 0.3% on Friday, extending losses from the previous session as concerns over the economic outlook continued to weigh on investor sentiment. The U.S. is set to impose retaliatory tariffs on April 2, while the European Union's retaliatory measures have been delayed until mid-April. Travel and leisure shares were among the worst performers after London's Heathrow Airport was forced to close Friday due to a power outage caused by a fire at a nearby electrical substation. Meanwhile, traders were closely watching a vote by Germany's upper house on...
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...