Powell flags cooling labor market as emerging risk as Fed moves closer to cuts
Federal Reserve Chairman Jerome Powell on Tuesday didn’t quell expectations for a September cut, but rather appeared to be laying the foundations for cut in the coming months after flagging the recent labor market cooling as an increasingly important cog in the Fed’s rate-decision wheel. “Elevated inflation is not the only risk we…
US stock futures edge higher; Powell’s testimony looms large
U.S. stock index futures rose Tuesday as increased expectations for a September rate cut kept Wall Street buoyant before testimony from Federal Reserve Chair Jerome Powell. At 06:00 ET (10:00 GMT), Dow Jones Futures rose 35 points, or 0.1%, S&P 500 Futures rose 11 points, or 0.2%, and Nasdaq 100 Futures rose 75…
Boeing, Paramount Global, Corning rise premarket; Exxon Mobil, Tesla fall
U.S. stock futures traded in tight ranges Monday, with traders awaiting the release of key inflation data as well as testimony from Fed chief Jerome Powell to Congress this week. Here are some of the biggest premarket U.S. stock movers today: Boeing (NYSE:BA) stock rose 0.7% after the aircraft manufacturer agreed to plead…
US stock futures tread water as nonfarm payrolls approach
U.S. stock index futures moved little in holiday-thinned trade on Thursday evening, with focus turning squarely towards key nonfarm payrolls data for more cues on interest rates. While markets were closed for the Independence day holiday, Wall Street indexes were sitting at record highs hit earlier this week as a swathe of soft…
Asian stocks drift lower amid mixed China PMIs; rate uncertainty persists
Most Asian stocks moved in a flat-to-low range on Monday as investors digested mixed cues on Chinese business activity, while uncertainty over U.S. interest rates remained in play. Regional markets took weak cues from a negative close on Wall Street on Friday, as quarter-end profit-taking largely offset some increased expectations for rate cuts…
Wall St set for tepid open as tech recovery loses steam
Wall Street’s main indexes looked set for a muted open on Wednesday as megacaps dipped and a momentum in chip stocks fizzled out, with investors awaiting a crucial inflation report this week. AI chip leader Nvidia (NASDAQ:NVDA) slipped 0.7%, back in losses after a selloff that wiped out $430 billion in market value…
Asian stocks fall amid China-EU trade jitters; inflation in focus
Most Asian stocks fell on Monday, with Chinese markets leading losses on the prospect of a trade war with the European Union, while anticipation of key U.S. inflation data also kept sentiment on edge. Regional markets took middling cues from Wall Street, as a mix of profit-taking and rate fears saw U.S. stock…
Japan issues fresh warning against yen bears as currency slides
By Takaya Yamaguchi TOKYO (Reuters) – Japanese authorities are ready to take action against speculative and excessively volatile moves in the currency market that hurt the economy, the country’s top currency diplomat Masato Kanda said on Friday. “It’s not intended to change the market’s trend,” and instead aimed at smoothing excessive volatility in…
Vanda rejects Future Pak and Cycle Pharma’s takeover offers
Vanda (NASDAQ:VNDA) Pharmaceuticals said on Wednesday that it has rejected takeover offers from UK-based Cycle Pharmaceutical and a revised bid from contract manufacturer Future Pak, adding that both offers undervalue the U.S. drugmaker. This is the third time Vanda has rejected a buyout offer from Future Pak. After its first offer from Future…
Nvidia leapfrogs Apple, Microsoft to take crown as most valuable company
Nvidia leapfrogged Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) to snatch the crown of most valuable company on Tuesday as the chipmaker continued to ride AI-wave to new heights. NVIDIA Corporation (NASDAQ:NVDA) rose more than 3%, pushing its market cap to $3.34 trillion, surpassing Microsoft’s $3.31T and Apple’s $3.29T, making the chipmaker the most valuable…
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