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 Nikkei 225 Index fell 1.6% to below 37,200, while the broader Topix Index dropped 0.7% to 2,710 on Tuesday, erasing gains from the previous session and tracking a sharp decline in US stocks overnight. This came after US President Donald Trump confirmed that tariffs on key trading partners would take effect on Tuesday. Analysts are warning that markets may be underpricing tariff risks given how quickly a global trade war could escalate. In Japan, investors reacted to data showing an unexpected rise in the unemployment rate, which climbed to 2.5% in January from 2.4% in...
European markets closed higher on Monday, amid a charge in defense shares after regional leaders held security talks that touched on bolstered military spending. The regional Stoxx 600 index moved between losses and gains in early deals before closing 1.1% higher. The Stoxx Europe aerospace and defense index rose by 8%, marking its best session in five years.Among the biggest movers were Germany's Hensoldt, closing 22.3% higher, Italy's Leonardo, which was up 16%, and Dassault Aviation, which gained 15%. Sweden's Saab, France's Thales, and Britain's BAE Systems also crowded the top of...
The S&P 500 retreated on Monday, struggling to rebound from February's rout as a deadline on President Donald Trump's tariff policies this week ratcheted up economic concerns. The broad index fell 0.2%. The Dow Jones Industrial Average dropped 66 points, or 0.2%. The Nasdaq Composite slid 0.4%, weighed down by Nvidia's slide of more than 5%. Those moves come after the three major indexes notched losses for February, which concluded last week. The Dow and S&P 500 each slipped more than 1% in February, while the tech-heavy Nasdaq Composite recorded its worst month since April 2024...
The S&P 500 edged higher on Monday, as investors weighed a looming tariff deadline against opportunity in some of the more volatile investments of the past year like Tesla. The broad index climbed 0.4%, while the Dow Jones Industrial Average gained 174 points, or 0.4%. The Nasdaq Composite flickered around flat, as a slide of 4% in Nvidia mitigated gains elsewhere within the technology sector. The broader market got upward momentum from Tesla, which jumped more than 3% after Morgan Stanley analyst Adam Jonas said it could rebound. Palantir, another retail investor favorite, jumped more...
The Hang Seng rose 65 points, or 0.3%, to close at 23,006 on Monday, ending two straight days of declines as traders eagerly awaited the start of China's National People's Congress on Tuesday. Analysts expect officials to set a growth target of around 5% and a budget deficit of 4% of GDP for this year during the crucial annual meeting. Investors are also hoping that U.S. tariffs on China could be delayed or reduced after President Trump announced plans to impose an additional 10% tariff on all Chinese imports starting March 4, after the 10% levy was imposed on Feb. 4. Meanwhile, China's...
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...