Stocks rose and U.S. Treasury yields firmed on Wednesday as investors assessed the latest U.S. tariff salvo along with Federal Reserve Chair Jerome Powell's signal of a patient path for rate cuts. Financial markets were largely biding time ahead of a reading on U.S. consumer prices due later in the day which could guide the outlook for monetary policy there.
* European shares set to rise, dollar rally pauses. * More Trump tariff announcements expected. * U.S. inflation data in focus after Powell's testimony. By Rae Wee and Chuck Mikolajczak. Stocks rose and U.S. Treasury yields firmed on Wednesday as investors assessed the latest U.S. tariff salvo along with Federal Reserve Chair Jerome Powell's signal of a patient path for rate cuts.
* Dollar mostly retreats as traders await U.S. inflation data. * Fed Chair Powell sees no rush to cut interest rates. * Yen slips below 200-day moving average. By Tom Westbrook.
A look at the day ahead in European and global markets from Rae Wee. Investors for a change started the day on Wednesday without headlines on new U.S. tariffs, allowing them to shift their attention to the U.S. inflation report later in the day and possible clues on the outlook for Federal Reserve policy.
A look at the day ahead in European and global markets from Rae Wee. Investors for a change started the day on Wednesday without headlines on new U.S. tariffs, allowing them to shift their attention to the U.S. inflation report later in the day and possible clues on the outlook for Federal Reserve policy.
Bank of Japan Governor Kazuo Ueda said on Wednesday the central bank will conduct monetary policy bearing in mind there are risks that food prices may continue to be high and affect people's inflation expectations. "We're deeply aware that a rise of more than 2% in prices of fresh foods and other commonly purchased products are negatively impacting people's lives," Ueda told parliament.
India's central bank hiked the quantum of funds that it intended to inject into the banking system through an overnight infusion on Wednesday, after aggressively intervening in the foreign exchange market in the last two sessions.
* Fed chief reiterates go-slow approach on further rate cuts. * Bullion hit record high of $2,942.70 on Tuesday. * US CPI data due at 1330 GMT. By Anushree Mukherjee.
U.S. stock markets were mixed on Tuesday as Federal Reserve Chair?Jerome Powell?indicated no immediate plans to reduce interest rates. These are the top stocks that gained the attention of retail traders and investors throughout the day.
Stocks rose and U.S. Treasury yields firmed on Wednesday as investors assessed the latest U.S. tariff salvo along with Federal Reserve Chair Jerome Powell's signal of a patient path for rate cuts.
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The dollar stepped back from a tariff-driven rally on Wednesday, as traders awaited U.S. inflation data and news on the broader trade front, though hawkish remarks from Fed Chair Jerome Powell pushed up U.S. yields and lent some support against the yen.
* Dollar retreats as traders await U.S. inflation data. * EU, Mexico, Canada condemn U.S. tariffs, plan counter-measures. * Fed Chair Powell sees no rush to cut interest rates. By Tom Westbrook. The dollar took a step back from its tariff-driven rally, leaving it below recent peaks as traders waited on U.S. inflation data and news on the broader trade front.
- A look at the day ahead in Asian markets. Asian markets on Wednesday will be looking to claw back Tuesday's broad losses but will face headwinds from a sluggish performance on Wall Street, higher U.S. bond yields and persistent nervousness around escalating global trade tensions. In testimony to Congress, Fed Chair Jerome Powell stressed the U.S. central bank is in no rush to cut interest rates.
Brazil's Finance Minister Fernando Haddad on Tuesday criticized the unilateral announcement of 25% tariffs by U.S. President Donald Trump to be applied on steel and aluminum imports, calling them "counterproductive" for the global economy. The finance chief, however, did not provide an assessment of their impact of the Brazilian economy.
A look at the day ahead in Asian markets. Asian markets on Wednesday will be looking to claw back Tuesday's broad losses but will face headwinds from a sluggish performance on Wall Street, higher U.S. bond yields and persistent nervousness around escalating global trade tensions. In testimony to Congress, Fed Chair Jerome Powell stressed the U.S. central bank is in no rush to cut interest rates.
* DuPont (DD) gains after raising 2025 profit forecast. * Elliott Investment builds $2.5 billion stake in Phillips 66. * Fed's Powell says in no hurry to cut rates. By Noel Randewich and Sukriti Gupta. Feb 11 - Wall Street's main indexes ended mixed on Tuesday as gains in Coca-Cola and Apple (AAPL) offset losses in Tesla, while investors parsed Federal Reserve Chair Jerome Powell's latest comments.
* Tariff uncertainty remains lingering concern. * US three-year note auction shows strong results. * US two-year yield hits highest in three weeks. * US rate futures price in 36 bps of easing in 2025. By Gertrude Chavez-Dreyfuss.
29 meeting, noting bumpy progress toward their 2% inflation goal, a still-strong labor market, and a lot of uncertainty over tariffs, tax cuts, and other economic policies under President Donald Trump. Here is a look at their comments since then, sorting them under the labels "dove" and "hawk" as shorthand for their?monetary policy leanings.
Federal Reserve Bank of New York President John Williams said Tuesday the current level of short-term interest rates should help get inflation back to the central bank's 2% target, in comments that offered no guidance about the prospect for more rate cuts.
The French economy is set to return to growth in the first quarter as service sector activity rebounds, the central bank said on Tuesday in its monthly outlook. The euro zone's second-biggest economy is on course to grow 0.1-0.2% in the first quarter from the previous three months, when France saw a 0.1% contraction in activity, the Bank of France said.
Recovery from oversold momentum indicator, the upcoming Pectra upgrade and Wednesday's CPI report are among the catalysts that could fuel an ETH rally,, a 10x Research report noted.
- The U.S. Federal Reserve is in no rush to cut its short-term interest rate again given an economy that is "strong overall," with low unemployment and inflation that remains above the Fed's 2% target, Fed Chair Jerome Powell said in opening remarks prepared for delivery at a Senate Banking Committee hearing.
The U.S. Federal Reserve is in no rush to cut its short-term interest rate again given an economy that is "strong overall," with low unemployment and inflation that remains above the Fed's 2% target, Fed Chair Jerome Powell said in opening remarks prepared for delivery at a Senate Banking Committee hearing.
U.S. Federal Reserve Chair Jerome Powell, in his first appearance before Congress since the inauguration, vouched for the strength of the economy President Donald Trump inherited even as he deferred on questions about tariffs, Elon Musk's role in government, bank account safety, and other issues reflecting the unsettled nature of the administration's first weeks.
- Federal Reserve Chair Jerome Powell on Tuesday said he did not believe that Elon Musk or members of his Department of Government Efficiency team have tried to access the Fed's secure payment systems.
Federal Reserve Chair Jerome Powell warned that while climate change is not an issue for the central bank to contend with, issues related to that could bring financial upheaval for affected areas. "Both banks and insurance companies are pulling out of areas" affected by flooding and fires, Powell told a Senate panel.
Editor?s note: This story has been updated with additional details. Federal Reserve Chair Jerome Powell reiterated on Tuesday that policymakers are in no "hurry" to adjust interest rates, citing lingering inflation pressures despite significant progress toward the Fed's 2% inflation goal.
Editor?s note: This story has been updated with additional details. Federal Reserve Chair Jerome Powell reiterated on Tuesday that policymakers are in no "hurry" to adjust interest rates, citing lingering inflation pressures despite significant progress toward the Fed's 2% inflation goal.
- No U.S. regulator other than the Consumer Financial Protection Bureau is tasked with ensuring that banks abide by rules guarding against deceptive practices regarding consumers, the head of the Federal Reserve said on Tuesday as he was pressed by a senior Democratic senator to ensure the CFPB remains funded.
German government bond yields were set for their biggest daily rise in almost four months on Tuesday as investors grappled with new U.S. tariffs, testimony from Federal Reserve chair Jerome Powell and higher energy prices.
* Tariff uncertainty remains lingering concern. * Focus on US three-year note auction. * US two-year yield hits highest in three weeks. By Gertrude Chavez-Dreyfuss. U.S. Treasury prices fell on Tuesday, pushing yields higher, as investors grew cautious about steep tariffs on all steel and aluminum imports that will take effect next month, stoking worries about reaccelerating inflation.
- No U.S. regulator other than the Consumer Financial Protection Bureau is tasked with ensuring that banks abide by rules guarding against deceptive practices regarding consumers, the head of the Federal Reserve said on Tuesday as he was pressed by a senior Democratic senator to ensure the CFPB remains funded.
Federal Reserve Chair Jerome Powell said Tuesday the U.S. central bank faces no current roadblocks to pressing forward with its balance sheet drawdown efforts. "The most recent data and the feel of markets is that reserves are still abundant," Powell told a Senate panel, adding "we think we are meaningfully above" the level where liquidity is scarce enough to stop the balance sheet drawdown.
The Bank of Canada on Tuesday said Michelle Alexopoulos would serve a two-year term as the central bank's second external deputy governor, starting March 17. In a statement, the bank said Alexopoulos's research focused on the business cycle as well as the effects of technical change and uncertainty.
The U.S. president has no legal authority to remove a member of the Board of Governors of the Federal Reserve System, Fed Chair Jerome Powell said on Tuesday. Powell's statement came in response to a question from a Democratic senator during his testimony before the Senate Banking Committee.
* Shares of Mexican miners fall in volatile trading day. * Economy minister: Steel, aluminum tariffs are unjustified. * Mexico imports more steel from US than it exports, says Ebrard. * 25% tariff set to go into effect on March 4. * Mexico is among top suppliers of steel to US. By Brendan O'Boyle.
* Vast majority of central banks are working on CBDCs. * Nearly a third have delayed timeline due to issues. * Maintaining currency sovereignty remains key driver. By Marc Jones. Nearly a third of central banks have pushed back launching digital versions of their currencies, a new survey shows, although a desire to protect their money-minting powers mean most still intend to go ahead.
Federal Reserve Chair Jerome Powell reiterated on Tuesday that policymakers are in no "hurry" to adjust interest rates, citing lingering inflation pressures despite significant progress toward the Fed's 2% inflation goal.
* Dollar holds onto mild losses on the day. * Fed's Powell in no rush to cut rates again. * Traders focused on tariffs, fear trade war. By Karen Brettell. The U.S. dollar held onto earlier losses on Tuesday after Federal Reserve Chair Jerome Powell said the U.S. central bank was in no rush to cut its short-term interest rate again.
Economists and betting markets are leaning toward a mild January inflation report, fueling investor hopes that price pressures are cooling and the Federal Reserve could stay on track for interest rate cuts. The headline Consumer Price Index is expected to hold steady at 2.9% year-over-year, according to median economist forecasts tracked by TradingEconomics.
U.S. Treasury yields clung to gains on Tuesday after Federal Reserve Chair Jerome Powell said the central bank is not in a rush to cut interest rates given an economy that is "strong overall" and inflation that remains above its 2% target.
Mexico's government on Tuesday questioned the fairness of a 25% tariff ordered by U.S. President Donald Trump on its steel and aluminum imports, stressing that Mexico buys more steel from the U.S. than it exports to its northern neighbor.
Federal Reserve Bank of Cleveland President Beth Hammack said Tuesday that she doubts the central bank will need to raise its interest rate target in the months ahead. Rate hikes are "not in my base case.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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