Latest Finance-Economy News
Trump Slashes US Tariffs on India to 18% in Russian Oil Deal
President Trump reduced tariffs on Indian goods to 18% after PM Modi agreed to halt Russian oil purchases, boosting Indian stocks and the rupee. This trade deal provides relief to Indian exporters previously hit by high US tariffs.
Asian markets handed over positively to US futures, up 0.3%.
Stocks Extend Rebound as S&P 500 Nears Record High
US stocks climbed with S&P 500 up 0.5%, Dow up over 500 points (1%), driven by strong ISM manufacturing data. Nasdaq rose 0.5% and Russell 2000 added 1%, while energy sector fell 2%.
Traders pair back Fed rate cut bets amid solid growth and cooling inflation.
Musk Merges SpaceX with xAI for $1.25T Valuation Mega IPO
Elon Musk is merging SpaceX and xAI, eyeing a massive IPO valued at $1.25 trillion according to sources. The deal sparks tech momentum alongside Palantir's rebound.
Wall Street reacts positively to the combination in overnight trading.
Gold and Silver Rebound After Sell-Off Stabilization
Gold bounces back up 4.5-8% today after dramatic unwinding, with silver up 3.5% amid market stabilization. Precious metals see calm restored, bucking recent USD strength.
Traders weigh unwinding crowded metals bets.
Dollar Rally Extends on Fed Policy Shift Expectations
Bloomberg Dollar Spot Index rises 0.3% for a second day, strongest since May, as traders reduce Fed rate cut bets. Elevated valuations push Treasury yields toward 4.30% amid Goldilocks growth narrative.
USD bucks recent trends amid market stabilization.
Wall Street Rattled by Trump's Fed Chair Pick Kevin Warsh
Trump's nomination of Kevin Warsh to lead the Federal Reserve unsettles Wall Street investors. Concerns arise over potential policy shifts under a reshaped Fed.
This adds to debates on central bank balance sheet expansion.
US ISM Manufacturing Data Boosts Yields and Stocks
Strong US ISM manufacturing print lifts stocks, yields, and dollar while sparking Goldilocks talks of growth without inflation. S&P futures up 0.3% following Asian handover.
Traders eye Fed's response to cooling job market.
Palantir Sparks Tech Rally After Trump Administration Ties
Palantir shares rise for first time in six days on expectations of expanded Trump admin use, rebounding 30% from November highs. Contributes to broader tech momentum in Nasdaq.
Stock pulls back earlier but gains traction.
South Korea Inflation Slows Amid FX Volatility Concerns
South Korea's inflation eases even as foreign exchange volatility raises worries for markets. Adds to Asian economic stabilization signals.
Regional stocks rebound post-deal announcements.
RBA Expected to Hike Rates 25bps to 3.5% on Stubborn Inflation
Australia's RBA likely to raise cash rate by 25 basis points to 3.5%, first hike in six months due to persistent inflation. Goldman Sachs expects hold, but consensus leans toward tightening.
Aussie dollar steady below 77 cents.
Tesla France Sales Plummet 42% in January on EV Slump
Tesla's French sales dropped 42% to just 661 vehicles in January amid broader European battery EV registration plunge. Reflects ongoing slump in key markets.
Impacts energy and auto sector performance.
France Adopts Budget as PM Survives No-Confidence Vote
French government passes budget while PM survives no-confidence votes, aiding EU economic stability. European stocks stabilize amid these political wins.
Ties into broader global market rebound.