Singapore’s central bank keeps policy unchanged, as expected
SINGAPORE (Reuters) -Singapore’s central bank on Friday left its monetary policy settings unchanged for the fifth consecutive time, as expected, as growth picks up and ahead of an expected year-end moderation in inflation.The Monetary Authority of Singapore (MAS) said it expects the economy to strengthen over the rest of 2024, with growth coming…
China central bank unexpectedly conducts medium-term loan operation, cuts interest rate
China’s central bank unexpectedly conducted a medium-term lending facility (MLF) operation on Thursday and cut the interest rate, following a string of other rate reductions earlier this week. The People’s Bank of China (PBOC) said it lowered the rate on 200 billion yuan ($27.5 billion) of one-year MLF loans to some financial institutions…
US stock futures drop as Alphabet, Tesla earnings underwhelm
U.S. stock index futures fell in evening deals on Tuesday, with technology stocks seeing renewed weakness after underwhelming second-quarter earnings from heavyweights Alphabet and Tesla. Major tech stocks declined in aftermarket trade, with the earnings setting a dour tone for more quarterly prints due in the coming days. Losses in technology stocks also…
US stock futures dip after tech rebound; Alphabet, Tesla earnings loom
U.S. stock index futures fell slightly in evening deals on Monday, steadying after a sharp rebound on Wall Street as investors returned to technology stocks ahead of key earnings from the sector. Wall Street indexes were still trading well below record highs hit last week, as a mix of profit-taking and rotation into…
Joe Biden drops out of race, endorses Kamala Harris
As was widely anticipated, U.S. President Joe Biden has stepped down from the 2024 Presidential election. This follows weeks of supporters turning their backs on him amid his dismal debate performance against former President and Republican nominee Donald Trump. Biden has thrown his support behind Vice President Kamala Harris. “My fellow Democrats, I have decided not…
Stock Market Today: S&P500 closes lower as tech continues to lose steam
he S&P 500 slumped for a second-straight day Thursday, pressured by wild swings as the early-day rebound in tech faded amid an ongoing rotation out of high-flying megacap tech stocks ahead of earnings from Netflix (NASDAQ:NFLX). At 16:00 ET (20:00 GMT), The S&P 500 fell 0.8%, and NASDAQ Composite fell 0.7%, the Dow…
US stock futures rise as chip rout eases; more earnings awaited
U.S. stock index futures rose in evening deals on Wednesday, steadying after a rout in chipmaking stocks, on concerns over more trade disruptions, sparked steep losses on Wall Street. Growing bets on early interest rate cuts by the Federal Reserve also spurred a broader pivot away from technology stocks and into more growth-sensitive…
Fed’s Kugler cautiously optimistic inflation headed to 2% target
Federal Reserve Governor Adriana Kugler on Tuesday expressed cautious optimism that inflation is returning to the U.S. central bank’s 2% target, with goods, services and now housing contributing to easing price pressures. “We’re seeing more progress on all three categories now,” Kugler said in comments pointing to increased confidence at the Fed that…
Powell was tightlipped on timing, but subtle shift on policy tees up sooner cuts
Federal Reserve chairman Jerome Powell on Monday was tightlipped on when the Fed could start cutting interest rates, but the Fed chief’s increased focused on the labor market, suggest the U.S. central bank is getting more confident of dropping the axe on rates soon. During an interview at the Economic Club of Washington,…
Gold prices edge lower as dollar firms after Trump attack
Gold prices fell slightly in early Asian trade on Monday, remaining in sight of a record high but seeing few increases in safe haven demand after an alleged assassination attempt on former U.S. President Donald Trump. Safe haven buying, in the face of increased U.S. political uncertainty, favored the dollar, with the greenback…
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