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 declined 0.4% to around 39,300 on Friday, ending a three-day rally as the yen sharply rebounded overnight. The currency's rise followed expectations of a softer US PCE inflation reading and a delay in President Trump's reciprocal tariffs. A stronger yen typically weighs on Japan's export-driven industries and makes Japanese assets pricier for foreign investors. Meanwhile, investors continued to navigate Japan's busy earnings season, which has yielded mixed results so far. Notable losses were seen in index heavyweights such as IHI Corp (-2.2%), Fast Retailing (-1.1%), and...
Asia-Pacific markets rose Friday, tracking Wall Street gains overnight as President Donald Trump signed a reciprocal tariffs plans, but did not enact the levies on them immediately.Australia's S&P/ASX 200 started the day 0.76% higher, after hitting a intra-day record in the previous session.Over in Japan, the benchmark Nikkei 225 started the day down 0.15%, while the broader Topix index was up 0.31%.South Korea's Kospi opened 0.14% higher while the small-cap Kosdaq advanced 0.74%.The country's seasonally adjusted unemployment rate hit 2.9% in January, easing from its three-year high of...
US stocks rose on Thursday as a U.S. tariff update helped ease concerns about inflation and global trade tensions, brushing aside hotter-than-expected inflation data. The S&P 500 rose 1%, the Nasdaq 100 gained 1.3% and the Dow Jones Industrial Average jumped more than 350 points, or 0.7%. President Trump signed a memorandum to review reciprocal tariffs on foreign countries but did not impose any levies. He also hinted at the potential for additional tariffs, including on auto imports. The producer price index (PPI) rose 0.4% in January, beating estimates, but a key component that goes...
European stocks closed sharply higher on Thursday, extending this week's strong momentum on the back of strong earnings reports and hopes that Ukraine may soon be on the way out, as investors weighed how new U.S. tariffs could affect European growth. The eurozone STOXX 50 jumped 1.7% to 5,500, its first closing high in 25 years, and the pan-European STOXX 600 gained 1.1% to 554. U.S. President Trump announced upcoming talks with Russian President Putin to negotiate a resolution to the ongoing conflict starting in 2022. Auto stocks led the gains with Mercedes Benz, Volkswagen, up between 7%...
US stocks edged higher on Thursday, with the three major averages up around 0.1%, as investors weighed President Trump's trade policies, corporate earnings, and key inflation data. While PPI figures exceeded forecasts, components feeding into the PCE index slowed, providing some relief after hotter-than-expected inflation data released yesterday. Meanwhile, Trump is set to announce reciprocal tariffs later today. Consumer discretionary and materials led gains, while energy lagged. On the earnings front, Cisco surged over 4% after reporting better-than-expected earnings and revenue, while...
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...