Latest Finance-Economy News
US Stock Markets Close Mixed with Dow Down 0.1%
The Dow Jones fell 0.1% to 50,121.40, Nasdaq declined 0.2% to 23,066.47, and S&P 500 edged down 0.01% to 6,941.47. Financials, Communication Services, and Consumer Discretionary sectors led losses, while Energy rose 2.6%. Trading volume was lower at 11.17 billion shares.
Strong US Payrolls Data Tempers Fed Rate Cut Expectations
Robust jobs numbers exceeded expectations, reducing bets for Federal Reserve rate cuts, with markets now pricing a 93.6% chance of a 25-basis-point cut in June. Former President Trump praised the data and renewed calls for rate cuts. Additional economic indicators are due this week.
US House Votes to End Trump's Tariffs on Canada
The US House defied Trump by voting to terminate tariffs on Canada, amid ongoing trade tensions. Sources indicate Trump is privately considering quitting the USMCA trade pact. Trump threatened Republicans opposing tariffs with election consequences.
Trump Threatens Republicans Over Tariff Vote
Trump warned that any Republican voting against tariffs would face severe election repercussions, citing reduced trade deficits, Dow at 50,000, and S&P at 7,000 as tariff successes. He emphasized tariffs' role in economic and national security. This follows House action on Canada tariffs.
Japanese Stocks Hit Record Highs Despite Strong Yen
Japanese equities reached record levels amid yen strength, with offshore yen posting its longest winning streak in a month. Export prices rose 6.6% y/y in January, while import prices increased 0.5%. SoftBank is seen benefiting from AI valuation surges.
Australia's ASX 200 Strengthens on Silver Rebound
The ASX 200 saw gains driven by rebounding silver prices, with the Aussie dollar at a three-year high. The central bank governor noted inflation remains too high, signaling sustained tight monetary policy. Northern Star reported profit jumps from rising gold prices.
US Crude Oil Inventories Rise by 8.5 Million Barrels
Commercial crude oil stocks, excluding the Strategic Petroleum Reserve, increased by 8.5 million barrels for the week ended February 6. This contributed to mixed energy sector performance, with Energy Select Sector up 2.6%.
AMP Shares Plunge Most Since 2003 After Earnings Miss
Australian financial firm AMP's shares dropped sharply following a full-year earnings disappointment. This reflects broader pressures in the financial sector amid global market volatility. Markets in Japan and South Korea opened amid these developments.
Elliott's $5.5B Japan Investment Faces Toyota Deadline Test
Activist investor Elliott's major shift into Japanese assets is under scrutiny with an approaching Toyota deadline. This comes as Japanese markets hit highs and export data strengthens. Broader Asia trade dynamics are in focus.
Waldorf Astoria Owners Plan Sale After Costly Overhaul
Chinese government-linked owners of NYC's Waldorf Astoria intend to sell the hotel months after a multibillion-dollar renovation finished five years late and $1B over budget. Marketing begins next month via Eastdil Secured. This signals shifting real estate investments.
VIX Fear Gauge Dips to 17.65 Amid Market Highs and Lows
The CBOE Volatility Index fell 0.8% to 17.65 as S&P 500 hit 99 new 52-week highs against 24 lows, and Nasdaq saw 123 highs versus 232 lows. This indicates moderated volatility despite slight benchmark declines.