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 rose 0.25% to 39,900, while the broader Topix Index slipped 0.2% to 2,725 in mixed trading on Wednesday, as Japanese stocks struggled for direction following a one-day holiday. Market sentiment was influenced by mixed results on Wall Street, amid President Trump's latest tariff escalation and Federal Reserve Chair Jerome Powell's comments suggesting the central bank is in no rush to cut interest rates further. In Japan, investors turned their attention to upcoming economic data, with machinery tool orders due Wednesday and producer inflation data expected Thursday. Among...
Asia-Pacific markets opened mixed Wednesday after Federal Reserve Chair Jerome Powell signaled there was no urgency to cut rates. Powell on Tuesday re-emphasized the central bank's focus on curbing inflation and signaled that policymakers were not in a rush to push interest rates lower. Australia's S&P/ASX 200 traded around the flatline. Japan's Nikkei 225 rose 0.71% after resuming trading following a holiday, while the Topix added 0.22% at the open. South Korea's Kospi slid 0.21% while the small-cap Kosdaq lost 0.36%.Hong Kong's Hang Seng index futures were at 21,551, also stronger...
The S&P 500 posted a slight gain on Tuesday as investors digested cautious comments from Federal Reserve Chairman Jerome Powell on interest rates. Concerns persisted over the direction of the economy amid U.S. tariffs and a possible escalation of the global trade war. The S&P 500 rose 0.03% to close at 6,068.50, while the Nasdaq Composite fell 0.36% to close at 19,643.86. The Dow Jones Industrial Average rose 123.24 points, or 0.28%, to 44,593.65. Apple rose 2.2% after The Information reported that the company is partnering with Alibaba to develop AI features for iPhone users in...
Stock futures in the US were mostly lower on Tuesday, with contracts on the S&P 500 losing 0.3%, the Dow Jones declining 90 points, and the Nasdaq 100 falling 0.5%, as traders digested the latest tariff news and awaited Fed Chair Powell's testimony to Congress for further insights into the Fed's plans for the year, as well as comments on inflation and trade policy from the new administration. President Trump has signed an executive order imposing a 25% tariff on steel and aluminum imports with no exceptions or exemptions. Shares of steel and aluminum producers rose in premarket trading,...
European markets opened in positive territory on Tuesday as investors digested the latest raft of tariffs introduced by U.S. President Donald Trump. While the pan-European Stoxx 600 index and Germany's Dax were mostly flat, the U.K.'s FTSE 100 was up by 0.22%. France's CAC also opened higher by 0.35%. Global markets started the week on a positive note, appearing to shrug off Trump's announcement over the weekend that he would impose a blanket 25% tariff on all steel and aluminum imports on Monday. Since the announcement was made yesterday evening, however, markets have taken a downturn,...
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...