Stocks fell Thursday as investors grew increasingly concerned the Federal Reserve will keep raising rates despite signs of slowing inflation. The Dow Jones Industrial Average lost 248 points, or 0.8%, erasing its January gains. The S&P 500 and Nasdaq Composite shed 0.8% and 1%, respectively, and were still hanging on to their monthly gains. All...Read More
Pakistan’s rupee registered a marginal gain against the US dollar in the inter-bank market, increasing 0.06% during the trading session on Thursday. At around 10:30am, the rupee was being quoted at 228.77 during intra-day trading, an appreciation of Re0.14. On Wednesday, the rupee had registered a loss for the 21st consecutive session against the US...Read More
Bitcoin and Ether fell Thursday morning in Asia, along with most other top 10 non-stablecoin cryptocurrencies on concerns about the direction of the U.S. economy and interest rates. Prices also lost ground overnight after the U.S. said it would take what it called “a major, international cryptocurrency enforcement action.” This turned out to involve the...Read More
The Indian rupee appreciated against the U.S. dollar on Wednesday amid choppy trade.The local currency strengthened 0.1%, or 7 paise, to 81.70 against the greenback at open, compared to Tuesday’s close of 81.77.In early trade, however, the rupee weakened 6 paise to 81.83 against the greenback before giving up losses and strengthening again.As of 10:40...Read More
The Dow Jones Industrial Average fell on Tuesday as investors struggled to keep building on early 2023 momentum and weighed the latest earnings results. The blue-chip index lost 391.76 points, or 1.14%, to close at 33,910.85. The S&P 500 fell 0.2% to 3,990.97, while the Nasdaq Composite gained 0.14% to end the day at 11,095.11....Read More
FRANKFURT, Jan 17 (Reuters) – China’s reopening from pandemic restrictions could drive global growth beyond expectations and help avoid a broader recession even as some of the world’s largest economies struggle to overcome a downturn, top finance officials at the World Economic Forum said. China has lifted many of the most debilitating restrictions after abruptly...Read More
Members of the global elite are back in Davos in their regular January slot after a three-year hiatus due to the Covid-19 pandemic. While the billionaires are gathering again for the World Economic Forum’s annual meeting, which kicks off Tuesday in the Swiss ski resort, there are fewer heavy hitters from politics. Russia’s war in...Read More
US Dollar Index fades the week-start rebound from the lowest levels since June 2022. US Treasury bond yields struggle for clear directions amid mixed clues about Fed policy pivot. Long weekend in the US markets also allowed DXY to lick its wounds before recalling the bears. China Q4 GDP, US Retail Sales for December are...Read More
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