Dow futures steady, S&P 500 nears record highs
US stock futures were trading higher during Wednesday night’s deals as major benchmark averages closed slightly higher overnight, with the S&P 500 index inching closer to fresh all-time highs. By 6:10 pm ET (11:10 pm GMT) Dow Jones Futures, S&P 500 Futures, Nasdaq 100 Futures were trading within a range of 0.1%. This…
Some in BOJ called for more debate on future easy policy exit -meeting summary
Some Bank of Japan policymakers called for deeper debate on a future exit from ultra-loose monetary policy as the economy makes progress toward achieving the bank’s price target, a summary of opinions at this month’s meeting showed on Wednesday. While the board agreed to maintain massive stimulus for the time being, the nine…
Japan CPI inflation eases as expected in Nov; early BOJ pivot in question
Japan’s core consumer price index inflation eased as expected in November amid softening food prices, with the reading casting more doubts over when the Bank of Japan could potentially begin tightening its ultra-loose policy. Core CPI inflation, which excludes volatile fresh food prices, rose 2.5% year-on-year, data from the Statistics Bureau showed on…
Oil prices sink on Israel-Hamas ceasefire talks, US inventory build
Oil prices fell in Asian trade on Thursday as momentum in a recent rally was culled by data showing an unexpected build in U.S. inventories, while talks over a potential ceasefire in the Israel-Hamas war dented bets on more supply disruptions. Media reports showed Hamas leader Ismail Haniyeh in Egypt for potential peace…
China keeps loan prime rate steady at record lows
The People’s Bank of China kept its benchmark loan prime rate unchanged at record lows on Wednesday, with monetary conditions set to remain loose for longer as China struggles with slowing economic growth. The PBOC left its one-year LPR at 3.45%, while the five-year LPR, which is used to determine mortgage rates, was…
Oil prices inch higher after Red Sea attacks trigger sharp gains
Oil prices rose slightly in Asian trade on Tuesday after rebounding sharply from near six-month lows, as traders sought to gauge just how disruptive an ongoing conflict in the Red Sea will be for supplies. Missile and drone attacks on several vessels in the region- which were attributed to the Yemeni Houthi group-…
Japan business lobby head: BOJ must normalise monetary policy as soon as possible
Japan business lobby Keidanren chief Masakazu Tokura said on Monday the Bank of Japan must normalise monetary policy as early as possible, amid speculation the central bank could shift away from more than a decade of stimulus policy in the coming months. Speaking on the first day of the BOJ’s two-day policy setting…
Oil prices rise as Fed-driven rebound brings first positive week in 8
Oil prices rose slightly in Asian trade on Friday, and were set to snap a seven-week losing spree on optimism over interest rate cuts by the Federal Reserve and a positive outlook on demand from the International Energy Agency. A drop in the dollar- to over four-month lows- greatly benefited crude markets, while…
Fed keeps rates steady, but sees more rate cuts for 2024
The Federal Reserve kept interest rates steady on Wednesday for the third straight meeting, and signaled deeper cuts for next year as inflation is expected to cool faster than initially anticipated. The Federal Open Market Committee, or FOMC, kept its benchmark rate at a more than two-decade high range of 5.25% to 5.50%.…
U.S. inflation slows to 3.1% in November
The U.S. inflation rate slowed slightly on a yearly basis as expected in November, in a key release that will likely factor into how Federal Reserve officials see interest rates evolving next year. Annual headline consumer price growth edged down to 3.1% last month, decelerating from 3.2% in October, according to data from…
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