In a highly anticipated speech at the Jackson Hole Economic Symposium in Wyoming on Friday, Federal Reserve Chair Jerome Powell seemingly confirmed expectations that the central bank is prepared to begin lowering interest rates. The time has come for policy to adjust, Powell said, although he noted the timing and pace of rate cuts will...
A report released by the Commerce Department on Friday showed a substantial increase by new home sales in the U.S. in the month of July. The Commerce Department said new home sales spiked by 10.6 percent to an annual rate of 739,000 in July after rising by 0.3 percent to an upwardly revised rate of...
The U.S. dollar lost ground against its major counterparts in the New York session on Friday, as Chair Jerome Powells speech reinforced expectations that the Federal Reserve will start cutting rates at the upcoming meeting in September. In his speech at the Jackson Hole Economic Symposium in Wyoming, Powell affirmed the need to adjust monetary...
Retailers Target Corp. (TGT), TJX Cos. Inc. (TJX) and Macys, Inc. (M) reported Wednesday profits for the second quarter that topped analysts estimates. Quarterly revenues at Target and TJX also beat estimates, while it misses by a whisker at Macys. The improved results at the retailers were driven by gross margin expansion. Target and TJX...
Revised data released by the Bureau of Labor Statistics on Wednesday showed job growth in the U.S. was weaker than previously reported in the twelve months ended March 2024. The BLS said the U.S. economy added 818,000 fewer jobs from March 2023 to March 2024 than initially reported, reflecting 0.5 percent weaker job growth. The...
The Singapore stock market has tracked lower in back-to-back sessions, stumbling more than 30 points or 0.9 percent along the way. The Straits Times Index now rests just above the 3,430-point plateau and it\'s expected to open under pressure again on Friday. The global forecast for the Asian markets is mixed ahead of more earnings...
Ahead of the unplanned two days off due to Typhoon Gaemi, the Taiwan stock market had ended the four-day losing streak in which it had plummeted more than 1,700 points or 7.6 percent. The Taiwan Stock Exchange now sits just above the 22,870-point plateau although it\'s likely to turn lower again on Thursday. The global...
The China stock market has moved lower in four straight sessions, tumbling almost 95 points or 3.2 percent along the way. The Shanghai Composite Index now sits just above the 2,885-point plateau and it\'s likely to open in the red again on Friday. The global forecast for the Asian markets is mixed ahead of more...
The Hong Kong stock market has finished lower in three straight sessions, tumbling more than 620 points or 3.7 percent in that span. The Hang Seng Index now rests just above the 17,000-point plateau and it\'s likely to open in the red again on Friday. The global forecast for the Asian markets is mixed ahead...
The Indonesia stock market has moved lower in three straight sessions, slipping more than 80 points or 1.1 percent along the way. The Jakarta Composite Index now sits just above the 7,240-point plateau and it\'s looking at another soft start again on Friday. The global forecast for the Asian markets is mixed ahead of more...