Major US stock indexes closed sharply higher on Monday (October 13), recovering from Friday's sharp sell-off after President Trump took a softer stance on US-China trade tensions, assuring that relations with Beijing "will be fine." The S&P 500 and Nasdaq 100 rose 1.6% and 2.2%, respectively, while the Dow Jones Industrial Average surged 593 points, as investors returned to riskier assets following Trump's comments. Trump's remarks helped ease fears of an escalating trade war after last week's threat of 100% tariffs on Chinese goods wiped out approximately $2 trillion in market value....
President Donald Trump said Federal Reserve Chair Jerome Powell's termination from his position can't come quickly enough, arguing that the US central bank should have lowered interest rates already this year, and in any case should do so now. Trump, derisively nicknaming the Fed chairman he nominated in his first term as "Too Late," wrote in a post on his Truth Social platform Thursday morning that "Powell's termination cannot come fast enough!" It was not immediately clear if the post meant Trump was referring to the scheduled end of Powell's term, or if Trump...
President Donald Trump said he plans to limit exceptions to his tariff push, the latest cryptic hint about a planned April 2 announcement of reciprocal duties on global trading partners. US trading partners have raced to secure carveouts ahead from the levies Trump has placed at the center of his economic agenda, but the president indicated that they would be tough to secure. "I know there are some exceptions, and it's an ongoing discussion, but not too many, not too many exceptions," Trump said in an interview with Newsmax. "No, I don't want to have too many...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating. In addition, geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East are further supporting the precious metal as a safe haven. On the other hand, the Federal Reserve's (Fed) hawkish signal that they will slow the pace of interest rate cuts in 2025, continues to support the increase in US Treasury bond yields. Source: Newsmaker.id