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 Dow Jones Industrial Average fell again on Wednesday as rising tensions between the U.S. and its major trading partners continued to rattle investors. The blue-chip index fell 287 points, or 0.7%. The S&P 500 traded nearly flat, while the Nasdaq Composite rose 0.6%. President Donald Trump's steel and aluminum tariffs went into effect Wednesday, and Canada said it would slap 25% retaliatory duties on more than $20 billion worth of U.S. goods. The European Union also responded swiftly, pledging to impose retaliatory tariffs on 26 billion euros ($28.33 billion) worth of U.S. imports...
The Hang Seng fell 182 points, or 0.8%, to close at 23,600 on Wednesday (3/12), reversing a subdued close in the previous session amid widespread losses. Sentiment was weighed down by concerns over China's deflation risks and the ongoing global trade spat. The EU escalated its trade dispute with the US by launching retaliatory new steel and aluminium tariffs, planning to impose duties on EUR26 billion worth of American goods. Caution also grew ahead of the US February CPI report after January's reading beat expectations. However, the losses were partly offset by a 34.4% yoy surge in Chinese...
European markets jumped at the open after the European Union announced retaliatory tariffs on US steel and aluminium imports. The regional Stoxx 600 rose 0.6% shortly after the opening bell, with all major bourses in positive territory. Regional investors will also be watching for any developments on a possible ceasefire for Ukraine, as well as corporate earnings, with clothing giants Inditex and Puma and carmaker Porsche updating investors on their financials. Market sentiment in the region improved on Tuesday as talks between US and Ukrainian officials in Saudi Arabia on Tuesday ended...
Japan stocks were higher after the close on Wednesday, as gains in the Power, Rubber and Chemical, Petroleum & Plastic sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.03%. The best performers of the session on the Nikkei 225 were Mitsubishi Electric Corp (TYO:6503), which rose 6.30% or 161.50 points to trade at 2,723.00 at the close. Meanwhile, Concordia Financial Group Ltd (TYO:7186) added 5.91% or 52.90 points to end at 947.30 and Mitsubishi Heavy Industries, Ltd. (TYO:7011) was up 5.40% or 125.00 points to 2,440.00 in late trade. The worst performers of...
Shares in Hong Kong added 33 points or 0.1% to 23,813 in a volatile trading session on Wednesday morning after a muted close the day before. A modest rise in US futures supported sentiment after a weak day on Wall Street overnight ahead of CPI prints later today. Traders also digested reports that Ukraine had agreed to an immediate 30-day ceasefire with Russia during talks with the U.S. in Saudi Arabia. In China, the annual parliamentary gathering concluded Tuesday, approving the central budget for 2025 and adopting a resolution on the 2024 work. Further gains were tempered, however, by...
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...