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...
gyrated on Wednesday amid ongoing uncertainties tied to President Donald Trump's controversial tariffs. The S&P 500 and Nasdaq Composite added 0.2% and 0.4%, respectively. The Dow Jones Industrial Average rebounded by 181 points, or 0.4%, after plunging more than 1,300 points over the last two sessions. The three indexes swung between positive and negative territory for the day. If the averages end down, it would mark the third straight negative session for each. Commerce Secretary Howard Lutnick said late Tuesday that he expected an announcement on an agreement with Canada and Mexico...
The S&P 500 was little changed on Wednesday, as fresh jobs data exacerbated concerns about the economy and appeared to distract from hopes of a compromise on President Donald Trump's controversial tariffs. The S&P 500 rose 0.2%, while the Nasdaq Composite edged up 0.1%. The Dow Jones Industrial Average jumped 162 points, or 0.4%, after dropping more than 1,300 points over the past two sessions. Commerce Secretary Howard Lutnick said late Tuesday that he expected an announcement on a deal with Canada and Mexico. Lutnick added earlier Wednesday that Trump was considering which...
The Hang Seng jumped 652 points, or 2.8%, to close at 23,594 on Wednesday, reversing a modest decline in the previous session, supported by broad gains across sectors. Sentiment improved after China set a GDP growth target of around 5% for 2025, maintaining the same pace as in 2024 despite the trade dispute with the US. Beijing also pledged fresh support for domestic consumption and the technology industry while cutting its annual inflation target to around 2%, the first adjustment in more than two decades from its previous target of 3%. Meanwhile, US index futures jumped after Wall Street...
European stocks opened higher on Wednesday amid optimism that U.S. President Donald Trump's 25% tariffs on Canada and Mexico could be eased, with investors also eyeing potential reforms to Germany's controversial debt brake system. The Stoxx 600 index rose 1.05% shortly after the open, following a broad decline in global equities on Tuesday on tariff concerns. The Stoxx autos index, which had fallen nearly 6% in the previous session, rebounded 2.4%. Utilities and food and beverages were among the sectors in the red. On Tuesday, the conservative alliance and the Social Democrats — the two...
Japan stocks were higher after the close on Wednesday, as gains in the Shipbuilding, Textile and Marine Transport sectors led shares higher. At the close in Tokyo, the Nikkei 225 rose 0.16%. The best performers of the session on the Nikkei 225 were Fujikura Ltd. (TYO:5803), which rose 7.42% or 431.00 points to trade at 6,239.00 at the close. Meanwhile, Yokogawa Electric Corp. (TYO:6841) added 6.69% or 188.50 points to end at 3,005.00 and IHI Corp. (TYO:7013) was up 6.09% or 640.00 points to 11,145.00 in late trade. The worst performers of the session were Konami Corp. (TYO:9766), which...
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...