Asian stocks tumbled on Tuesday while bond yields surged, and the dollar climbed to more than five-month highs as Middle East tensions persisted and signs of resilient consumer demand in the U.S. meant the Federal Reserve could delay interest rate cuts this year. Citing a strong economy and labor market alongside lingering inflation, San Francisco...
German stocks traded sharply lower on Tuesday as investors fretted about higher interest rates and waited for Israel\'s response to Iran\'s unprecedented attack. Meanwhile, Germany\'s wholesale prices continued to decline in March, and at a steady pace, data from Destatis showed earlier today. Wholesale prices dropped 3.0 percent on a yearly basis, the same as...
The British pound rebounded from recent lows against other major currencies in the European session on Tuesday. The pound rose to 1.2450 against the U.S. dollar and 1.1371 against the Swiss franc, from a recent 5-month low of 1.2409 and a 4-day low of 1.1336, respectively. Against the yen and the euro, the pound edged...
The increase in the UK unemployment rate and the marginal slowdown in wage growth in the three months to February suggest an easing of pressure in the labor market. The ILO jobless rate rose to 4.2 percent from 3.9 percent in three months to January, the Office for National Statistics reported Tuesday. The rate was...
A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased in line with economist estimates in the month of March. The Fed said industrial production climbed by 0.4 percent in March, matching the upwardly revised advance in February. Economists had expected industrial production to rise by 0.4 percent compared...
Chinese internet company Baidu Inc.\'s artificial intelligence or AI chatbot Ernie Bot has secured more than 200 million users, reports said citing CEO Robin Li. Ernie Bot, China\'s most popular ChatGPT-like chatbot, was released to the public in August last year. In December, the company had said that Ernie Bot\'s users reached over 100 million....
After reporting a substantial rebound in new residential construction in the U.S. in the previous month, the Commerce Department released a report on Tuesday showing housing starts pulled back by much more than expected in the month of March. The Commerce Department said housing starts plummeted by 14.7 percent to an annual rate of 1.321...
A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased in line with economist estimates in the month of March. The Fed said industrial production climbed by 0.4 percent in March, matching the upwardly revised advance in February. Economists had expected industrial production to rise by 0.4 percent compared...
Canadian stocks are down in negative territory around noon on Tuesday with somewhat hot inflation data weighing on sentiment. Uncertainty about early interest rate cuts by the Federal Reserve continues to weigh as well. The benchmark S&P/TSX Composite Index, which dropped more than 200 points to 21,536.09 earlier in the morning, is down 59.52 points...
The Hong Kong stock market has moved lower in four straight trading days, stumbling almost 900 points or 5.5 percent along the way. The Hang Seng Index now sits just beneath the 16,250-point plateau although it\'s likely to see some bargain hunting on Wednesday. The global forecast for the Asian markets suggests little movement, with...