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US stocks back at records while European bourses retreat
Wall Street equity indices advanced to fresh records Tuesday as markets embraced commentary from Federal Reserve Chair Jerome Powell, while European bourses retreated on unease about upcoming French elections. But bourses in Paris and Frankfurt both retreated amid concerns about the potential economic fallout should the far right win power in France in weekend elections.
Dollar on the defensive amid lower yields, yen hovers near 38-year trough
The dollar weakens after Powell's dovish U.S. bond yield comments, amid potential Japanese intervention during U.S. holiday. Concerns over Biden presidency and easing long-term Treasury yields persist, as local inflation remains steady and the Australian dollar sees a rise.
Tesla, megacaps drive S&P 500, Nasdaq up; Powell in focus
Powell told a panel that recent economic data represented "significant progress," though noting the Fed needed to see more before changing policy. Meanwhile, Chicago Fed President Austan Goolsbee noted he sees some "warning signs" of economic weakness and that central bank's goal is to get inflation down without stressing the labor market.
Fed chief Jerome Powell says more evidence of falling inflation needed before rate cuts
Federal Reserve Chair Jerome Powell stated the U.S. central bank requires more data before reducing interest rates to confirm the recent lower inflation is accurate. May data showed no increase in the Fed’s preferred inflation measure, with the 12-month rate decreasing to 2.6%, still above the 2% target.
Fed's Powell says more evidence of falling inflation needed before rate cuts
The Fed has kept its benchmark policy interest rate steady in the 5.25%-5.5% range since last July, but officials are debating when to ease monetary policy as inflation edges back to the central bank's 2% target. Inflation is still more than half a percentage point above that target, according to the Fed's preferred personal consumption expenditures price index, and was described as "elevated" in the central bank's June 12 policy statement.
Gold ekes out gains as investors await US jobs data
Gold prices edged higher on Monday as a lower dollar prompted some short covering from investors with focus turning to U.S. jobs data due later this week that could offer more cues around interest rate cuts by the Federal Reserve.
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Hawkish Fed, other bearish factors hurting gold
The ten-year US yields at 4.38% were up 2.28% on the day and were up around 4% on the week. The two-year yields were up 0.20% on the week as they closed around 4.75%
Cricket T20 World Cup: Australia ominous, Windies feeling right at home
Four comprehensive victories in the group matches suggest the Mitchell Marsh-led squad have the form and personnel to achieve that. In what has been a low-scoring tournament, Australia are the only team to have posted two 175-plus totals and one of the three teams to hit the 200-mark.
Fed's Goolsbee: 'More months' of good inflation data needed
Federal Reserve Bank of Chicago President Austan Goolsbee expressed relief over cooling inflation in May but prefers more months of data before cutting interest rates.
How did 'Hit Man' receive an incredible 97% rating on Rotten Tomatoes? Know more about Richard Linklater- directed film
Richard Linklater- directed 'Hit Man' which debuted on Netflix as number one on its most-watched list, making it amply clear that the ending may have shocked millions of people. One has to keep in mind that it is not exactly a staple of the romantic comedy that the audience wants.
Fed holds rates steady, sees just one cut in 2024 despite inflation progress
The markdown in the outlook for rate cuts, from three quarter-percentage-point reductions seen in the Fed's March projections, was made despite the central bank's acknowledgement in its new policy statement of "modest further progress" towards its 2% inflation target - an upgrade from its May 1 statement.
Is Fed FOMC outcome hawkish or dovish? Here's is what Street says
The US Federal Reserve maintained rates at 5.25-5.50% in its June monetary policy, with Chair Jerome Powell expressing caution about the inflation outlook and the need for data revision. Experts weigh in on the decision.
Fed outcome expectations: Markets hawk-eyed for any clues on rate easing this year
The US Federal Reserve is anticipated to announce its key policy decision, including the trajectory of interest rate cuts and navigation of the economic landscape amidst inflation concerns.
Hit Man 2: Is a sequel happening? Richard Linklater talks about Glen Powell's future projects
Renowned director Richard Linklater has discussed the potential for a sequel to his latest film, "Hit Man," while also noting Glen Powell's rising prominence as a romantic comedy star. The movie, featuring Powell in a dynamic role, has generated significant interest and speculation about future projects.
US Fed's 'dot plot' could offer glimpse of rate-cut resolve
Since raising their benchmark federal funds rate more than five percentage points starting in March 2022, the Federal Open Market Committee (FOMC) has held borrowing costs at a two-decade high since July. A host of Fed leaders have suggested in recent weeks they see no rush to cut rates, with inflation more persistent and the outlook for growth staying solid.
Glen Powell's Hit Man set to release on streaming: When and where to watch
The movie "Hit Man," directed by Linklater and co-written by Linklater and Powell, is adapted from a 2001 Texas Monthly article of the same name by Skip Hollandsworth.
Fed's favourite underlying inflation gauge is seen cooling
Economists expect the personal consumption expenditures price index minus food and energy - due on Friday - to rise 0.2% in April. That would mark the smallest advance so far this year for the measure, which provides a better snapshot of underlying inflation.
Monsanto: See what we know so far about plot, cast and production
Netflix secures "Monsanto," a legal drama starring Glen Powell, Anthony Mackie, and Laura Dern. The film, directed by John Lee Hancock, follows attorney Brent Wisner (Powell) as he challenges chemical giant Monsanto on behalf of client Dewayne "Lee" Johnson (Mackie). Dern plays Monsanto's chief toxicologist in this gripping true story.
Fed Chair Jerome Powell tests positive for COVID-19, working from home
Federal Reserve Chair Jerome Powell tested positive for COVID-19 on Thursday and is experiencing symptoms. He is working from home and following CDC guidelines. Despite his illness, Powell plans to deliver his commencement address to Georgetown Law School on May 19 via prerecorded video.
Industrials lift European shares to record high ahead of US inflation data
Europe's benchmark index climbed to a record high on Wednesday, as upbeat earnings boosted industrials and healthcare stocks, while investors buckled up for a highly anticipated U.S. inflation print.
Nasdaq hits record close after Powell reassures investors, CPI in focus
U.S. producer prices increased more than expected in April as the cost of services and goods rose sharply, leading traders to pare back bets of a first rate cut in September.
Fed's Powell: PPI mixed, next move unlikely to be a rate hike
Though he said "my confidence in that is not as high as it was," given faster than expected inflation through the first three months of the year, the U.S. central bank chief said it remained unlikely in his view that the Fed would have to raise rates any further, even if the prospect for rate cuts has become less certain.
Asian shares subdued as China trade eyed, yen steadies after recent falls
Later in the day, the Bank of England (BoE) will decide its interest rate policy, with all eyes on the prospects of a June rate cut following the overnight move by Sweden's Riksbank to cut rates, which underlined Europe's divergence from the U.S. Federal Reserve.
Federal Reserve's Bowman says inflation to remain elevated for 'some time'
Bowman, the first Fed official to speak since Chair Jerome Powell's remarks Wednesday, said recent inflation data suggest the low readings seen at the end of 2023 appear to have been temporary.
Forget any rate cut in 2024! What experts are predicting after Fed meeting
Global stock markets heaved a sigh of relief last night when the world's most powerful central banker Jerome Powell assured investors that it is unlikely for the US Federal Reserve to go for a rate hike. After the Dow Jones ended higher overnight, the Sensex was also up around 200 points this morning.
Fed's Powell says looming US election will not sway rate decisions
latest policy meeting, said Fed policy decisions will be guided by "what we think the right thing for the economy is," repeating a long-held stance of ignoring politics in the central bank's economic analysis.
Fed to signal delay of interest-rate cuts after higher-than-expected inflation
The Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday. The rate decision, and possibly an announcement on the pace of its balance-sheet reduction program, will be released at 2 p.m. in Washington.
Powell poised to keep Fed on higher-for-longer path
The last time the US central bank chair spoke, he signaled that policymakers were likely to keep borrowing costs high for longer than previously anticipated, pointing to the lack of further progress on bringing inflation down.
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