Trump considering 10% tariff on China from Feb 1
U.S. President Donald Trump said on Tuesday he is considering imposing 10% tariffs on Chinese imports from February 1, as he raised the possibility of increased duties on several major economies. Speaking at a White House event on his second day in office, Trump said he was considering the Chinese tariffs on concerns…
Asia FX slips after Trump inauguration; BOJ, BNM rate decisions awaited
Most Asian currencies weakened on Tuesday as the dollar rebounded following U.S. President Donald Trump’s inauguration, while the Japanese yen and the Malaysian ringgit gained ahead of their central banks’ rate decisions due this week. Trump assumed office overnight and announced a series of executive orders, underscoring his campaign pledges. The US Dollar…
Trump plans to extend TikTok’s U.S. stay, seeks 50% U.S. ownership
President-elect Donald Trump has announced his intention to issue an executive order on Monday that will extend the period before the law’s prohibitions on TikTok take effect. The move is aimed at providing more time to strike a deal that would ensure national security. In addition to extending the period, the executive order…
Dollar treads water ahead of CPI, tariffs remain in focus
The dollar weakened against the euro on Tuesday but stayed near its highest level in more than two years as cooler-than-expected inflation data following last week’s strong jobs report made it hard to project the Federal Reserve’s next moves on interest rates. Data showed U.S. producer prices increased moderately in December. Investors had…
US stock futures rise on report of gradual Trump tariffs
U.S. stock index futures rose on Monday evening as fears of overly disruptive trade tariffs under President-elect Donald Trump were eased by a report that his team was considering a gradual increase in duties. But gains in futures were tempered by continued caution over a slower pace of interest rate cuts in 2025,…
Goldman Sachs now expects two Fed rate cuts this year, down from three
Goldman Sachs analysts said they now expect the Federal Reserve to cut interest rates twice this year, down from their prior forecast of three cuts, amid increased concerns over sticky inflation and labor market strength. GS expects two rate cuts in 2025- in June and December, and one additional cut in 2026, bringing…
Macquarie forecasts single rate cut in 2025 after robust jobs report
The latest US employment report indicated a strengthening labor market, with Macquarie economists interpreting the data as a sign of stabilization expected to continue into 2025. The December report highlighted a substantial increase of 256,000 in headline payrolls, marking the most significant gain since March, although the numbers might reflect seasonal variations that…
China CPI inflation stays flat in Dec, PPI shrinks amid limited stimulus support
Chinese consumer price index inflation grew marginally in December, as expected, while producer inflation contracted, signaling that deflation still remained largely prevalent despite recent stimulus measures. CPI grew 0.1% year-on-year in December, in line with expectations, government data showed on Thursday. The reading was softer than the 0.2% growth seen in the prior…
Quantum computing stocks drop as Nvidia CEO says decades away from usefulness
Shares of quantum computing firms fell in aftermarket trading on Tuesday after comments from NVIDIA (NASDAQ:NVDA) CEO Jensen Huang suggested that the technology was decades away from being useful. IONQ Inc (NYSE:IONQ), D Wave Quantum (NASDAQ:QMCO) Inc (NYSE:QBTS), QuantumSi Inc (NASDAQ:QSI), Quantum Computing Inc (NASDAQ:QUBT), and Rigetti Computing Inc (NASDAQ:RGTI) fell between 3%…
European stocks close mixed; eurozone inflation, corporate earnings in focus
European stock markets closed in a mixed fashion Tuesday, as investors digested key eurozone inflation data as well as more corporate earnings. At 11:15 ET (16:15 GMT), the DAX index in Germany and the CAC 40 in France gained 0.6%, while the FTSE 100 in the U.K. fell 0.2%. Eurozone consumer inflation edges…
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