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Equities retreat as Powell dampens Fed Sept cut hopes | N18G
U.S. stocks closed well off earlier highs after a choppy session on Wednesday (July 30), as Federal Reserve Chair Jerome Powell chilled expectations the central bank might be poised to cut rates at its September meeting.
In keeping rates unchanged, as was widely expected, the central bank said "the unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated," in a split decision that saw two governors dissent.
Stocks were modestly higher before the Fed statement as investors assessed the first reading of second-quarter economic growth, which was stronger than expected, but underlying details indicated an economy that was likely losing strength.
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Axis Bank's Neelkanth Mishra sees $10 billion hit from Trump’s 25% tariff on Indian exports
The financial burden is expected to intensify further once the Section 232 tariffs on pharmaceuticals are implemented - currently at zero - and if additional punitive levies are introduced, the report added.
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Trump's potential penalties could impact market more than tariff hike
Indian markets face mounting pressure as Trump's tariff threats trigger a sharp rupee decline to four-month lows of 87.42 against the dollar. The Gift Nifty's drop signals continued volatility ahead, with analysts warning that uncertainty over additional Russia-related penalties could derail the market's recent upward momentum.
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India’s m-cap sees sharpest drop in five months, ranks fifth-worst globally in July
Global markets saw broad gains. China, the world’s second-largest market by capitalisation, led with a 6 percent rise in July, followed by Hong Kong and US.
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Asian shares mixed at open before US Fed’s meeting
Shares in Japan fluctuated at the open while those in South Korea and Australia were flat Wednesday after the S&P 500 snapped a six-day rally
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Trump pauses export controls to bolster China trade deal: Report
The industry and security bureau of the Commerce Department, which oversees export controls, has been told in recent months to avoid tough moves on China, report said
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Global stocks gain as US-EU trade deal lifts sentiment; Fed, BOJ policy meetings in focus
In Asia, Japan’s Nikkei slipped after touching a one-year high last week while MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.27%, just shy of the almost four-year high it touched last week.
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Pressure mounts on Fed chief Powell in tee up to GDP, jobs data
Fed officials meet Tuesday and Wednesday, and are widely expected to keep rates unchanged again
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London's FTSE 100 rises as UK seals trade deal with India
Earlier, on May 8, 2025, the UK and the United States unveiled the “US-UK Economic Prosperity Deal” (EPD), aimed at reducing or eliminating tariffs on key exports including cars, steel, and aluminium.
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Tesla likely faces 'a few rough quarters' from end of US EV support, says Elon Musk
Shares fell nearly 5% after Musk responded on a quarterly results conference call to questions about new U.S. government policies under President Donald Trump
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ASM shares fall sharply after chipmakers’ troubles weigh on bookings
Bookings of ASM’s chipmaking machines have flagged as the semiconductor businesses of some of the industry’s most renowned names, including Intel Corp. and Samsung Electronics Co., cede leadership in the artificial intelligence market to competitors.
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US treasuries edge higher as Bessent offers support for powell
Yields on Treasuries fell about 3 basis points across maturities
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After stock market’s torrid run, earnings misses face punishment
The S&P 500 Index closed near an all-time high Friday, after notching seven new records in just 15 sessions
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Five reasons why silver will continue to be bullish
Silver has quietly outperformed gold with a 3.5x surge since pandemic lows, driven by industrial demand from electric vehicles and solar panels, tight supply conditions, and growing investment interest.
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JPMorgan is now worth more than three largest rivals combined
It racked up $30 billion of profit in that period, more than double its closest rival
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SoftBank-backed travel app Klook is said to consider US listing
Klook may confidentially file an application for IPO in the US soon to raise from $300 million to $500 million
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Goldman posts best stock-trading quarter in Wall Street history
At $4.3 billion, equity-trading revenue for the second quarter was about $600 million more than what analysts were expecting
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Bitcoin chases American dream in norm-shattering mortgage push
If crypto is eventually allowed to count toward mortgage eligibility without being liquidated, borrowers could retain their tokens instead of converting them to meet reserve requirements
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US core CPI rises less than expected again on drop in car prices
The consumer price index, excluding the often volatile food and energy categories, increased 0.2% from May. On an annual basis, it advanced 2.9%
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Standard Chartered launches bitcoin, ether spot trading for institutional clients
Some financial institutions have said they are seeing more client demand for crypto products as the price of bitcoin hits record highs
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Trump allies open new front against Powell over building rehab
The heightened pressure coincides with relentless calls from Trump for the Fed to lower interest rates – which Powell and fellow policymakers have defied so far this year
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Bitcoin soars to all-time peak just shy of $112,000
It touched a record peak of $111,988.90 and was last up 0.4% at $111,259. Since the beginning of the year, bitcoin has advanced more than 18%
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Asia shares flat as dollar, stock futures dip on Trump’s copper tariff
Contracts for the S&P 500 index edged down 0.2% and a gauge of the dollar dipped by 0.1% Thursday
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Trump says Powell should ‘resign immediately’ if he misled Congress
Trump accused the Fed chair of 'whining like a baby about non-existent Inflation for months, and refusing to do the right thing.'
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Oil eases as traders assess US tariffs, OPEC+ output hike
Brent crude futures dipped 22 cents, or 0.3%, at $69.36 a barrel by 0630 GMT. U.S. West Texas Intermediate crude fell 27 cents, or 0.4%, at $67.66 a barrel
