[ WALL Street’s main indexes were set for a higher open on Friday as robust quarterly results from Alphabet and Microsoft lifted growth stocks, while fresh evidence of progress on the inflation front rekindled hopes of an interest rate cut this year. Alphabet jumped 11.7% in premarket trading after the Google-parent announced its first-ever dividend, … Read more
[ WASHINGTON: U.S. inflation rose moderately in March, but that is unlikely to change financial markets’ expectations that the Federal Reserve will hold off cutting interest rates until September. The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department’s Bureau of Economic Analysis said on Friday. Data for February was unrevised … Read more
[ U.S. stocks were poised to open sharply lower on Thursday, dragged down by growth stocks after dour quarterly results from Meta Platforms, while signs of persistent inflation dampened hopes of the Federal Reserve cutting interest rates anytime soon. Meta plunged 16% in premarket trading after the Facebook-parent forecast higher expenses and lighter-than-expected revenue. Social … Read more
[ SYDNEY: Australian consumer price inflation slowed less than expected in the first quarter as service cost pressures stayed stubbornly high, a disappointing result for policymakers that led markets to abandon hopes for any rate cuts this year. The Australian dollar duly jumped 0.6% to $0.6522, while three-year bond futures tumbled 15 ticks to 96.00, … Read more
[ PepsiCo beat Wall Street expectations for first-quarter revenue and profit on Tuesday as demand for its sodas and snacks like Cheetos and Doritos in international markets drove growth even as it witnessed a slowdown in the United States. Consumers across Europe, Asia Pacific and China shelled out money for PepsiCo’s pricey sodas and chips, … Read more
[ MUMBAI: RBI governor Shaktikanta Das cited robust growth in the economy, supported by an upturn in manufacturing and the investment cycle as reasons for keeping interest rates on hold. The governor’s views during the monetary policy committee meeting held a fortnight ago were revealed in the minutes of the meeting, which were released by … Read more
[ NEW DELHI: Inflation continues to remain the main concern for the Reserve Bank of India’s monetary policy committee members before it goes ahead and loosens its stance on key interest rates.As per the Minutes of the latest monetary policy meeting released on Friday, there have been several mentions of uncertainties around inflation. Going ahead, … Read more
[ SINGAPORE: Singapore’s central bank has kept unchanged its monetary policy stance aimed at strengthening the trade-weighted Singapore dollar to fight still-elevated inflation. The Monetary Authority of Singapore (MAS) said yesterday that it would maintain the prevailing rate of appreciation of the Singapore dollar nominal effective exchange rate policy band, with no change to the … Read more
[ WALL Street’s main stock indexes were on track for a lower open on Friday as most megacap growth stocks and chipmakers receded, while some big banks dipped after dour quarterly results. JPMorgan Chase & Co fell 2.8% in premarket trading after the bank’s forecast for its income from interest payments came in below analysts’ … Read more
[ SEOUL: South Korea’s central bank said on Friday greater uncertainty on the inflation outlook and the strength of exports argued against a near term push to cut interest rates after the bank left the policy rate steady at a 15-year high. “To give a six-month ahead outlook or so, all of the board members … Read more
