The dollar index traded around 101.3 on Thursday after losing half a percent in the previous session, weighed down by growing expectations that the Federal Reserve will deliver a supersized 50 basis point rate cut later this month due to weak data. Markets are also pricing in about 125 bps in total easing this year,…
Stocks tumbled Tuesday as technology names struggled and new economic data rekindled fears around the health of the economy. The Dow Jones Industrial Average fell 626.15 points, or 1.51%, to end at 40,936.93. The S&P 500 slid 2.12%, closing at 5,528.93. The Nasdaq Composite dropped 3.26% and settled at 17,136.30. Stocks felt downward pressure as…
Oil steadied after a three-day rally, with the threat of a halt in Libyan supply countered by a still-shaky demand outlook. Brent crude traded above $81 a barrel after rising 7% in the sharpest three-day rally since April last year, while West Texas Intermediate was near $77. Libya’s eastern government declared force majeure — a legal clause allowing…
Japanese stocks fell as the yen strengthened after Federal Reserve Chair Jerome Powell signaled the US central bank will begin cutting interest rates in September. Exporters including electric appliance makers led declines. Topix Index fell 0.9% to 2,661.41 as of market close Tokyo time. Nikkei declined 0.7% to 38,110.22. Toyota Motor Corp. contributed the most to the…
Japanese stocks rise as the yen held losses against the dollar from overnight, with investors on the lookout for comments from Bank of Japan Governor Kazuo Ueda and Federal Reserve Chair Jerome Powell. Topix Index rose 0.2% to 2,677.83 as of 9:25 a.m. Tokyo time Nikkei advanced 0.3% to 38,323.24 Recruit Holdings contributed the most to the…
The Hang Seng climbed 250 points or 1.4% to end at a 1-month top of 17,641 on Thursday, advancing for the second day as most sectors gained. The tech index soared 1.5%, amid a 9.3% surge in Xiaomi Corp. after the company logged strong revenue in Q2. Financials and consumers also gained robustly, as hopes…
