Stocks in Asia rose as traders weighed prospects for Federal Reserve interest-rate cuts after Jerome Powell cited signals that the US is back on a disinflationary path. Equity benchmarks climbed in Japan, Australia and South Korea, while futures for Hong Kong stocks pointed to a positive start. Contracts for the S&P 500 edged lower after … Read more
U.S. prices were unchanged in May while consumer spending rose moderately, a trend that could draw the Federal Reserve closer to start cutting interest rates this year. The flat reading in the personal consumption expenditures (PCE) price index last month followed an unrevised 0.3% gain in April, the Commerce Department’s Bureau of Economic Analysis said … Read more
SINGAPORE: Asian stocks were headed for a fifth straight month of gains on Friday, bolstered by the growing view that cooling inflation in the United States would allow the Federal Reserve to ease rates later this year. Friday is packed with risk events for markets after a relatively subdued rest of the week, with U.S. … Read more
Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared. The S&P 500 Consumer Discretionary Distribution & Retail index is up nearly 14% this year, roughly keeping pace with the S&P 500’s year-to-date gain. Much … Read more
Asian stocks and currencies advanced on Thursday after the double-whammy of a Federal Reserve rate decision and US consumer price data. Equities and dollar-denominated bonds are seen benefiting, even if the bullish inflation reading was tempered by Fed officials pulling back their rate cut forecasts for the year, according to strategists. Currencies like the rupiah … Read more
The S&P 500 and the Nasdaq scored record closing highs for the third consecutive session on Wednesday and U.S. Treasury yields pared earlier declines as investors weighed a market-pleasing inflation report against lowered interest rate cut expectations. The dollar shed some weakness after the U.S. Federal Reserve concluded its two-day policy meeting by leaving interest … Read more
Oil prices fell in early trade on Wednesday as investors digested news that the U.S. Federal Reserve has opted against cutting interest rates in the near future, while ample U.S. crude and fuel stocks further weighed on the market. Brent crude futures lost 14 cents, or 0.17%, to $82.46 a barrel at 0039 GMT, and … Read more
The Federal Reserve should cut interest rates this week for the first time since the onset of the COVID-19 pandemic, three Democratic senators said Monday in a letter to its chairman, Jerome Powell. “The Fed’s monetary policy is not helping to reduce inflation. Indeed, it is driving up housing and auto insurance costs — two … Read more
U.S. equity funds saw outflows for the first time four weeks in the seven days ended May 29, hit by rising bond yields and uncertainty over the timing and extent of Federal Reserve interest rate cuts. According to LSEG Lipper data, net outflows from U.S. equity funds totalled $7.6 billion. This came as the yield … Read more
Asian stocks rose on Friday and were poised for the fourth month of gains, while the dollar drifted lower, keeping the yen steady as investors await inflation readings from Europe and the U.S. that will likely dictate the path of interest rates globally. A downward revision to consumer spending meant the U.S. economy grew more … Read more
