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...
European stocks closed slightly higher on Friday, paring losses from record highs earlier in the week as markets digested the latest PMI data and a slew of corporate earnings, while preparing for Germany's general election over the weekend. The STOXX 50 gained 0.3% and the STOXX 600 gained 0.5%. Private sector activity in the euro zone remained in slight expansion as strength in service providers offset another period of contraction for manufacturers. On the political front, the center-right CDU led the latest polls and the incumbent center-left SPD dropped to third place. Air Liquide jumped...
US stocks fluctuated on Friday, with the S&P 500 and Nasdaq hovering near the flatline, while the Dow Jones dropped around 280 points. The health and energy sectors were among the biggest laggards. Shares of UnitedHealth plunged almost 10% after The Wall Street Journal reported that the Justice Department has launched an investigation into the company's Medicare billing practices in recent months, citing sources familiar with the matter. On the other hand, communication services outperformed. Also, AI-related stocks traded higher, including Nvidia (0.6%), boosted by strong earnings...
European stock markets were trading higher on Friday morning after a sell-off on Wall Street as earnings remain in focus for investors. The regional Stoxx 600 was up by 0.3%, the U.K.'s FTSE 100 and Germany's DAX were marginally higher by 0.1% at 8:10 a.m. London time. Meanwhile, France's CAC 40 was up 0.4% and Italy's MIB rose by 0.3%. European firms Kingspan Group, Air Liquide, Sika AG and others reported their fourth-quarter earnings. Standard Chartered for instance beat market expectations, and is now trading up by nearly 5%. Source: CNBC
The Nikkei 225 Index gained 0.26% to close at 38,777, while the broader Topix Index edged up 0.07% to 2,737 on Friday, reversing earlier losses. The rebound followed comments from Bank of Japan Governor Kazuo Ueda, who stated that the central bank is prepared to increase government bond purchases if long-term interest rates rise sharply. Meanwhile, data showed that core inflation in Japan accelerated to 3.2% in January, up from 3% in December, exceeding forecasts of 3.1%. Headline inflation also rose to 4%, up from 3.6%, the highest level in two years. These figures reinforced expectations...
Hong Kong shares hit a three-year high Friday, leading gains in the region as investors weighed inflation data from Japan against tariff threats from U.S. President Donald Trump. Hong Kong's Hang Seng Index rose 3.76% to its highest level since February 2022, according to data from LSEG. The Hang Seng Tech index added 6.15%. Shares of Hong Kong listed Alibaba rose 14.7% following a significant profit increase for the company in the December quarter, driven by growth in its Cloud Intelligence division and e-commerce sector. Mainland China's CSI 300 rose 1.26% to close at 3,978.44. Japan'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...