Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&P 500 and Nasdaq 100 finished mostly muted near their records, while the Dow Jones dropped 142 points, pressured by a 2.2% decline in American Express shares. Trump reportedly demands a minimum 15-20% tariff in any deal with the EU, which is working to finalize an agreement before his August 1 deadline. On the corporate front, Netflix shares fell 5.1% despite beating revenue and earnings...
The Nikkei 225 Index fell 1% to below 38,700, while the broader Topix Index fell 0.5% to 2,706 on Thursday, hitting a three-week low. The declines mirrored a sharp selloff on Wall Street after the U.S. Federal Reserve signaled fewer interest rate cuts in 2025 than previously expected. The Fed now expects just two rate cuts next year, down from the four projected in its September outlook. Investors also remained cautious ahead of the Bank of Japan's monetary policy decision later in the day. The central bank is likely to hold off on raising interest rates as policymakers assess the latest...
Asia-Pacific markets fell on Thursday morning (19/12), tracking broad declines on Wall Street as the U.S. Federal Reserve cut its benchmark lending rate for a third straight meeting while signaling fewer rate cuts ahead. Investors in Asia are looking ahead to the Bank of Japan's interest rate decision after a two-day policy meeting. The central bank is widely expected to keep its target interest rate unchanged at 0.25%. The Japanese yen was slightly higher on Thursday morning at 154.57 against the U.S. dollar. Japan's benchmark Nikkei 225 fell 1.4% while the Topix fell 1.27%. In South...
The Federal Reserve cut interest rates by 25 basis points on Wednesday, but reined in the number of rate cuts ahead on concerns about sticker inflation amid a brighter economic outlook. The Federal Open Market Committee, the FOMC, cut its benchmark rate by 25 bps to a range of 4.25% to 4.5%. In what was the third rate cut of the year since the first cut in September, Fed members now appear to be easing away from a deep rate cut cycle, betting on fewer rate cuts ahead. Fed members now see the benchmark rate falling to 3.9% for next year, suggesting just two rate cuts, compared with a prior...
The Fed announced another 25bps cut to the federal funds rate in December 2024, marking the third consecutive reduction this year and bringing borrowing costs to the 4.25%-4.5% range, in line with expectations. The so-called dot plot suggested policymakers will probably would only lower twice more in 2025.(Cay) Newsmaker23 Source: Trading Economi
Markets are pricing in a near certainty that the Federal Reserve will cut interest rates by a quarter point on Wednesday, bringing the target range to 4.25% to 4.5%. The focal point for investors is central bank policymakers' economic outlook and the path forward for rate policy. The Fed will issue its decision at 2 p.m. Eastern on Wednesday, followed by Chair Jerome Powell's press conference at 2:30 p.m.Loan interest rates remain high even as Fed has reduced ratesThe Federal Reserve has dialed back interest rates by three-quarters of a point since the end of its September meeting, but...