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...
US stocks slumped on Thursday after Walmart's disappointing outlook raised concerns about economic growth. The S&P 500 and Nasdaq 100 retreated from record highs, down 0.4% and 0.5%, respectively, while the Dow Jones Industrial Average dropped 450 points, weighing on Walmart's shares. Despite beating earnings expectations, Walmart's cautious fiscal 2026 guidance sent its shares down 6.5%, dragging down other retailers such as Target (-2%) and Costco (-2.6%). Investor sentiment was further dampened as Palantir slumped 5.3% amid reports of impending Pentagon budget cuts and its CEO's...
European stocks closed mostly lower on Thursday, pressured by a mix of corporate earnings reports as markets continued to assess the impact of potential U.S. trade barriers and higher defense spending by EU members. The euro zone STOXX 50 closed flat at 5,453, maintaining yesterday's decline from Monday's record high, while the STOXX 600 edged down 0.2% to 551. Airbus fell 2.3% after posting downbeat results and hinting it may have to delay U.S. deliveries to focus on other customers if the U.S. government follows through on tariffs. Mercedes-Benz, meanwhile, reported a 40% drop in its car...
US stocks traded lower on Thursday, with the S&P 500 slipping 0.2% after reaching a new all-time high the day before, the Nasdaq losing 0.1%, and the Dow Jones dropping 170 points. Walmart shares tumbled nearly 5% after issuing weaker-than-expected fiscal 2026 guidance, despite exceeding Q4 earnings estimates. Almost all sectors traded in the red, with consumer staples emerging as the worst performer. Meanwhile, investor sentiment remained pressured by geopolitical and economic concerns, particularly fears over trade tariffs and US policy uncertainty. On the economic data front, weekly...
The Nikkei 225 Index fell 1.24% to close at 38,677, while the broader Topix Index dropped 1.18% to 2,735 on Thursday, extending losses from the previous session as concerns over US President Donald Trump's escalating tariff threats weighed on market sentiment. Trump recently announced plans to impose 25% tariffs on imports of autos, semiconductors, and pharmaceuticals—sectors that are crucial to Japan's economy. In addition, minutes from the latest US Federal Reserve meeting revealed that policymakers would prefer to see further progress on inflation before making additional interest rate...
Hong Kong stocks fell on Thursday, as indications that the US Federal Reserve was in no rush to slash interest rates weighed on investor sentiment. The Hang Seng Index slid 1.6%, or 367.26 points, to end at 22,576.98. The Hang Seng China Enterprises Index retreated 1.7%, or 140.54 points, to 8,322.56. US Fed officials are inclined toward keeping interest rates steady as they wait for further progress on inflation and clarity surrounding the new administration's economic policies. The interest rate is likely to be kept between 4.25%-4.5%, according to the minutes of the Fed's January...
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...