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[hfe_template id='11223'] [ad_1] The Federal Reserve's first-line inflation gauge is about to show some modest relief from stubborn price pressures, corroborating central bankers' prudence about the timing of interest-rate cuts. Economists expect the personal consumption expenditures price index minus food and energy - due on Friday - to rise 0.2% in April. That would mark the smallest advance so far this year for the measure, which provides a better snapshot of underlying inflation. The overall PCE price index probably climbed 0.3% for a third month, according to median projection in a Bloomberg survey. Increases this year stand in contrast to relatively flat readings in the final three months of 2023, underscoring uneven progress for the Fed in its inflation fight. Fed Chair Jerome Powell and his colleagues have stressed the need for more evidence that inflation is on a sustained path to their 2% goal before cutting the benchmark interest rate, which has been a...

[hfe_template id='11223'] [ad_1] Japan's Nikkei share average sank on Friday, tracking declines on Wall Street after robust U.S. economic data stoked bets that stubborn inflation may delay Federal Reserve interest rate cuts. The Nikkei sagged 1.17% to 38,646.11 as of the close, and had earlier dipped as much as 1.9%. The broader Topix dropped 0.44%. All three main U.S. equity indexes declined overnight, led by a 1.5% slump for the Dow, after U.S. manufacturers reported a surge in prices for a range of inputs, suggesting that goods inflation could pick up in the months ahead. The benchmark U.S. 10-year bond yield climbed to a more than one-week peak of 4.498% as traders pared back bets to a likely single quarter-point rate reduction this year, from a consensus for two cuts previously. "It definitely seems, at least in the short term, that moves in Japanese stock prices are in the hands of U.S. yield levels," Kazuo Kamitani, an equities strategist at Nomura...

[hfe_template id='11223'] [ad_1] From New York to London to Tokyo, if there’s one similarity among the world’s equity markets it’s this: record highs.Of the world’s 20 largest stock markets, 14 have hit all-time highs recently. The MSCI ACWI Index, which tracks developed and emerging markets, has been on a record-breaking run, setting another new high on Friday. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever. Meanwhile, the biggest bourses in Europe, Canada, Brazil, India, Japan and Australia are currently at or near their peaks. Bloomberg Looming interest rate cuts, healthy economies and corporate earnings are driving the activity. And what’s more, there are plenty of potential drivers to keep the rally rolling, such as the $6 trillion sitting in money market funds, while risks remain scarce. “From a macro perspective, there are no red signals,” said Salman Ahmed, gl...

[hfe_template id='11223'] [ad_1] The Dow Jones industrial average closed above the 40,000 mark for the first time on Friday, with other major indexes also scoring weekly gains, as data supported expectations for interest rate cuts by the Federal Reserve this year. The benchmark S&P 500 edged higher after paring losses while the Nasdaq fell, but both chalked up a fourth straight week of gains. The Dow rose to end the fifth week of advances in a row. Strong corporate results and inflation and other economic data have bolstered investor hopes for Fed rate cuts this year. Eight out of the 11 S&P 500 sectors advanced, with energy leading gains while technology was the biggest loser. For the week, Dow gained 1.24%, S&P 500 rose 1.54%, and Nasdaq climbed 2.11%. "Today is a bit of a digestion day: we just broke out through record highs and now we're on a fourth straight week of gains, and the market appears to take a breaker," said Keith Lerner, co-ch...

[hfe_template id='11223'] [ad_1] U.S. stocks rose on Friday, as investors eagerly awaited comments from Federal Reserve officials to get more clarity on the U.S. monetary policy path, after economic data this week supported bets of interest rate cuts. Wall Street indexes were inching closer to record highs following a selloff last month, as a slew of economic data pointed to a cooling U.S. labor market, raising expectations that the Fed will cut borrowing costs more than once this year. A much better-than-expected earnings season has also helped put the benchmark S&P 500 and the tech-heavy Nasdaq Composite on track for their third consecutive week of gains. The Dow Jones Industrial Average was up for the eight straight session, its longest daily winning run since December, and set for a fourth week of gains. The blue-chip index was also closing in on the 40,000 threshold for the first time."This is the classic point of bad news is good news because the employmen...

[hfe_template id='11223'] [ad_1] Japan's Nikkei share average jumped more than 1% on Tuesday, as investor sentiment brightened on higher bets of U.S. interest rate cuts this year while technology shares continued to dazzle. The Nikkei rose 1.57% to 38,835.10, its highest closing level since April 15. The broader Topix finished up 0.65% at 2,746.22. U.S. stocks injected fresh momentum as markets priced in a higher chance of the Federal Reserve cutting interest rates this year. A U.S. jobs report on Friday showing growth slowed more than expected in April further fuelled buying. Japanese shares broadly climbed on the positive news, with 152 of the Nikkei's 225 constituents trading in green. Local technology shares advanced as investors returning from a long weekend caught up to buoyant Wall Street after U.S. tech giant Apple posted upbeat revenue results. The session's gains significantly added to the Nikkei's near 600-point climb. Japan's financial m...

[hfe_template id='11223'] [ad_1] Asian stocks got off to a shaky start on Thursday after the Federal Reserve flagged delays to interest rate cuts, while the dollar fell heavily on the yen in what traders reckoned was Japanese intervention. Oil fell sharply overnight as the prospect of cuts seemed more distant and after a surprise jump in U.S. stockpiles, with Brent crude futures hitting a seven-week low of $83.44. [O/R] Japan's Nikkei fell 0.7% at the open and South Korean shares lost 0.5%. Australian shares were flat. S&P 500 futures rose 0.4% after the cash index had closed 0.3% lower overnight. [.N] The dollar's value fell by almost five yen in 40 minutes of late New York trade to touch 153 yen. It was last at 155.63 yen, having traded around 157.5 before the sudden dive. The move follows sharp yen gains on Monday which Japanese money market data suggested may have been intervention to the tune of some $35 billion in dollar selling. [FRX/] "There wa...

[hfe_template id='11223'] [ad_1] Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation. The Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday. The rate decision, and possibly an announcement on the pace of its balance-sheet reduction program, will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later. Policymakers are reluctant to begin lowering borrowing costs until they’re certain inflation is closing in on 2%, the rate they see as appropriate for a healthy economy. While they had penciled in three 2024 rate cuts as recently as March, Powell is likely to indicate those plans are on hold and will depend on an improvement in inflation. Bloomberg “Th...