Wall Street ends higher on earnings, hopes of easing tariff tensions
U.S. stocks rebounded on Tuesday as a spate of quarterly earnings reports and hints at the de-escalation of U.S.-China trade tensions brought buyers in from the sidelines. U.S. stocks jumped further in extended trade after President Donald Trump said he has no plans to fire Federal Reserve Chair Jerome Powell, stepping back from his recent…
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Trump says he has no plans to fire Fed’s Powell; market jumps
President Donald Trump on Tuesday backed off from threats to fire Federal Reserve Chair Jerome Powell after days of intensifying criticisms of the central bank chief for not cutting interest rates. “I have no intention of firing him,” Trump told reporters in the Oval Office on Tuesday. “I would like to see him be a…
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Fed’s Kashkari says ‘too soon to judge’ interest rate path
Federal Reserve Bank of Minnesota President Neel Kashkari said on Tuesday it is too soon to know how short-term borrowing costs may need to be adjusted for U.S. President Donald Trump’s tariffs and their expected impact on inflation and the economy. Kashkari’s view is widely held by his colleagues and is likely to leave the…
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RBI’s cautious accommodative turn: Policy room intact amid global uncertainty
The Reserve Bank of India (RBI) has reduced interest rates by 25 basis points and shifted its stance from neutral to accommodative, as was anticipated. The tone of the announcement suggested a cautious approach, indicating that the RBI is keeping its options open for future action should the global situation deteriorate. The RBI has further…
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Dow plummets 1,600 points, Nasdaq, S&P down 5% as Trump tariffs escalate trade war, recession worries
Wall Street fell sharply for a second straight session on Friday, pushing the Nasdaq toward a bear market, after China imposed fresh tariffs on all U.S. goods in response to the Trump administration’s sweeping levies, escalating a global trade war and concerns of a recession. At 12.53 pm, the Dow Jones dropped 1,607.09 points or…
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Bank of England set to sit tight on rates as uncertainty mounts
The Bank of England looks set to keep interest rates on hold on Thursday as it awaits the impact on the economy of U.S. President Donald Trump’s trade tariff onslaught and of the British government’s imminent tax hike for employers. With UK inflation stuck firmly above its 2% target, the BoE has cut borrowing costs…
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Fed says it will slow balance sheet runoff process
The Federal Reserve said on Wednesday that starting next month it will slow the pace of its balance sheet drawdown amid an ongoing impasse over lifting the government’s borrowing limit, a shift that will likely hold for the remainder of the process. The announcement came as part of a Federal Open Market Committee meeting that…
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Another sea of red as tariffs trump ceasefire hopes
Wall Street’s failure to bounce back from its recent beating on news of a potential ceasefire between Ukraine and Russia shows just how worried investors are about the growth and market impact from U.S. President Donald Trump’s tariff wars. Ukraine said on Tuesday it is willing to accept a U.S. proposal for a 30-day ceasefire,…
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