Global stock markets surged following reports of easing U.S. inflation, bolstering hopes for Federal Reserve interest rate cuts. Strong earnings from key corporations such as Richemont and Taiwan Semiconductor further fueled the rally.
European stock markets continued their climb, with the DAX repeatedly reaching new highs this week. Performance was driven by expectations of loosening monetary policy and strong corporate quarterly earnings.
Wall Street equities finished lower Thursday following a mixed US retail sales report, while European luxury stocks pushed higher following strong results from Cartier owner Richemont. The Paris stock market surged more than two percent after Cartier owner Richemont reported record quarterly sales.
The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to move back to the upside after
European stocks extended gains on Friday, after having hit their highest level in a month the previous day on the back of strong
Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes.
Donald Trump is expected to elevate Michelle Bowman, a fifth-generation community banker and current Fed governor, as the government’s most influential banking regulator.
The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how the financial system could help combat climate change
The U.S. Federal Reserve will hold interest rates steady on Jan. 29 and resume cutting in March, according to a slim majority of economists polled by Reuters, as policymakers digest an expected barrage of new economic policies from Washington.
Citi—which anticipates five rate cuts in 2025—has a downbeat forecast for a meager 0.7 percent growth. Bank of America is forecasting an above-consensus 2.4 percent growth for the year, hence their view for no rate cuts. ING, meanwhile, expects two percent growth.