Five of the 11 S&P 500 sectors declined, led by a 1.8 per cent drop in Technology stocks. Megacaps were down, with Tesla sliding 2 per cent, Apple dropping 2.7 per cent
Mr Powell brought to Wednesday's press conference details from 2018 Fed research that suggested looking past tariff-induced inflation
The sell-off shaved off investor wealth by Rs 2.8 trillion on Thursday, extending the four-day loss to almost Rs 10 trillion
Dow Jones: The Dow Jones Industrial Average slid 1,123.03 points, or 2.58 per cent, to 42,326.87 on Wednesday - declining for a 10th day and clocking its longest losing streak since 1974
Asian stocks have taken the cue from Wall Street, with MSCI's broadest index of Asia-Pacific shares outside Japan down 1 per cent
For the Dow it was its tenth consecutive daily loss, marking its longest losing streak since 1974 and its biggest daily percentage decline since early August
Markets are pricing in a 95.4% chance of a 25 basis points cut in this meeting, expected to be announced at 2 p.m. EST (1900 GMT), according to CME's FedWatch tool
Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards. The Fed is set to announce a quarter-point cut to its benchmark rate, from about 4.6% to roughly 4.3%. The latest move would follow a larger-than-usual half-point rate cut in September and a quarter-point reduction in November. Wednesday's meeting, though, could mark a shift to a new phase in the Fed's policies: Instead of a rate cut at each meeting, the Fed is more likely to cut at every other meeting at most. The central bank's policymakers may signal that they expect to reduce their key rate just two or three times in 2025, rather than the four rate cuts they had envisioned three months ago. So far, the Fed has explained its moves by describing them as a recalibration of the ultra-high rates that were ...
The Australian dollar surged after employment data topped estimates by a wide margin
UBS said it expects the Fed to cut by 25 basis points in December, followed by another 100 bps of easing through 2025
The comments, just two days after Trump's re-election, portend the power struggle that may lie ahead between the central bank and a president who insists he should have a say on interest-rate policy
Officials voted unanimously to lower the federal funds rate to a range of 4.5% to 4.75%. The adjustment follows a larger, half-point cut in September
On Friday, government data showed an unexpectedly strong job market, which called into question widespread concerns the labor sector was weakening
Expectations of a 25 bps cut in November are at 88 per cent, while bets of no cut rose to 12 per cent from less than 10 per cent a day ago
Analysts say banks, auto, real estate, IT, pharma, and metal sectors look attractive after the US Federal Reserve's rate cut
While benchmark indices rallied close to 1 per cent in early trade and made new record highs, valuation concerns and a sharp selloff in the broader markets led to profit-taking
US Fed rate cut: Policymakers, according to reports, expect the Fed's benchmark to fall another half of a percentage point by 2024-end, and another one per cent in 2025
The US Fed rate cut of 50 basis points will make it easier for the central bank in emerging countries, including India, to slash key policy rates, Crisil Chief Economist D K Joshi said on Thursday. Joshi also said Crisil is expecting food inflation to come down for FY25 if monsoon does not play spoilsport at the end of the season. "US Fed rate cut makes it easier for central banks in emerging countries, including India, to cut rates. But rate cuts in India, I think, will happen when there is a durable reduction in food inflation. And we do expect durable inflation to take place because higher than normal monsoon rains are playing out this year. So, the stars have aligned for rate cuts to happen in India," Joshi told PTI. "Our forecast is that the RBI may cut key policy rates within this calendar year," he said. Late Wednesday, the US Federal Open Market Committee voted to cut the federal funds rate target range by 50 bps to 4.75-5 per cent, from 5.25-5.50 per cent, against ...
The surge in IT stocks was fuelled by the US Federal Reserve's decision to cut interest rates by 50 basis points, lowering the target range to 4.75 per cent to 5 per cent.
The 1-month non-deliverable forward indicated that the rupee will open flat-to-slightly-higher to the US dollar