Asian equities experienced their largest gain in two weeks, driven by Wall Street's rally and increased expectations for lower interest rates from the Federal Reserve. Technology stocks in Hong Kong surged by 2.7%, while Shanghai shares reached a decade high.
As Jerome Powell prepares for a crucial speech at Jackson Hole, the pressure mounts from President Trump for the Fed to lower interest rates. With hiring slowing and inflation rising, how will Powell navigate these economic challenges? Discover the implications!
In a striking move, President Trump has called for the resignation of Federal Reserve Governor Lisa Cook, aiming to gain influence over the central bank and push for lower interest rates. This bold action raises questions about his control over the Fed amidst Supreme Court challenges.
Stock futures are slightly higher as hopes for lower interest rates boost investor confidence. With major averages showing gains, the focus shifts to the Fed's upcoming meeting and key earnings reports from big retailers.
In a recent interview, Trump confirmed he won't remove Jerome Powell as Fed chairman, calling him a 'total stiff' while insisting on lower interest rates. He blames Biden for economic issues and continues to push his tariff agenda, claiming it will ultimately benefit Americans.
US Treasuries saw significant gains after the Federal Reserve reassured markets about the potential for lower interest rates, pushing 10-year note yields down to 4.2%. Traders are betting on continued rate reductions.
As the dollar weakens and U.S. interest rates dip, emerging markets stand to benefit. However, early futures suggest that stocks may face challenges, despite positive remarks from Treasury Secretary Scott Bessent.
