Wall St indexes end lower after Powell erodes hopes for December rate cut
Wall Street’s main indexes closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened investors’ hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy. Powell said at a Dallas Fed event that with the economy still growing, the job market solid and…
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ET Analysis: Cash turns out to be a safe harbour when market tide turns
Investors holding cash have been among the most dissed in the stock market of late. Equity evangelists are unable to wrap their heads around the fact that there is a segment of the market that prefers the safety of cash or its equivalent at this point over stocks that have extended their record-breaking run with…
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Fed cut positive for Asian stocks and risk currencies, analysts say
The Federal Reserveβs decision to cut its benchmark interest rate by 50 basis points is likely to be a positive for Asian stocks as it gives the regionβs central banks more room to loosen policy, analysts say. The rate cut will ease the pressure of tight monetary policy and assuage concern about weakening local currencies,…
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