Federal Reserve Chair Jerome Powell said that although the government shutdown has led to a significant drop in the Fed’s expectations for the economy, the Fed still expects to cut interest rates by a quarter of a percentage point again later this month. Powell said in a speech at the National Association for Business Economics’ […]
Silver prices hit a record high of around $53 per ounce, with the historic short squeeze in London adding impetus to the rally driven by surging demand for safe-haven assets. The spot price in London rose by as much as 1% to $52.8983 per ounce, surpassing the peak set by the gold futures contract regulated […]
President Donald Trump’s administration said on Sunday it was willing to reach an agreement with China to ease the new trade tensions, but also warned that Beijing’s recent announcement of export controls was a major obstacle to the negotiations. Vice President JD Vance called on Beijing to “choose the rational path” in the latest round […]
The Israeli government has approved an agreement under which Hamas will release the remaining hostages held in the Gaza Strip in exchange for more than 2,000 prisoners. This is another significant measure to fulfill the terms of the peace agreement and end the bloody conflict between the two sides. In a post on X, […]
US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu said they have agreed to a 20-point plan aimed at ending the war in Gaza, but the prospects for peace remain unclear without the direct participation of Hamas. Trump said at a press conference with Netanyahu on Monday that the framework has received support from […]
If the two parties fail to reach an agreement on the short-term spending bill, federal funds will expire on Monday, when four congressional leaders will meet with President Donald Trump at the White House. This meeting will be the first between Trump and congressional leaders before the deadline to avoid a government shutdown. Senate […]
The biggest question facing bond investors in the coming days is whether the US monthly jobs report will shake their firm belief that the Federal Reserve will cut interest rates again as early as October. Last week, traders reduced their bets on further easing by the Federal Reserve as officials were divided over monetary policy […]
Asian currencies and emerging market stocks rose on Monday as the dollar weakened and data on Chinese factory profits suggested the economy was stabilizing. The South Korean won led gains among currencies as foreign investors bought South Korean stocks, while Chinese technology stocks led the stock market. The renminbi rose 0.2% against the US dollar, […]
Nvidia Corp. will invest up to $100 billion in OpenAI to support new data centers and other artificial intelligence infrastructure. This is a major deal that highlights the strong demand for AI tools like ChatGPT and the computing power needed to run them. The two companies announced the deal on Monday, saying they had signed […]
According to informed sources, Intel has approached Apple, hoping to invest in the troubled chipmaker. This move aims to boost the company, which is currently partially owned by the US government. Insiders said that Apple and Intel also discussed how to cooperate more closely. As the discussion was conducted privately, insiders declined to be […]