SCOTT BESSENT COMMENTS
Federal Reserve to announce decision on interest rates: Will Jerome Powell speak on recession?
The US Federal Reserve is set to announce its decision on interest rates on March 19. All eyes will be on central bank chief Jerome Powell and whether he will make any comments on a potential recession. The Federal Reserve's decision comes amid a slew of tariffs announced by US President Donald Trump, which might impact spending later.
New twist in Trump tariff policy can give India a breather
India may not be severely impacted by Trump's reciprocal tariffs set for April 2, as the specifics remain uncertain. Treasury Secretary Scott Bessent suggested potential delays and negotiations, giving India a chance to reach a trade deal and possibly avoid the tariffs.
TRADING DAY-Flickering recovery snuffed out
U.S. stocks fell on Tuesday, driven by concerns ranging from President Trump's trade wars to Big Tech outlooks and geopolitical tensions. Gold surged to over $3,000 an ounce while major Wall Street indices dropped between 0.6% and 1.7%, reflecting investors' fragility and economic uncertainties ahead of the Federal Reserve's upcoming policy decisions.
U.S. stock market today: Dow Jones gains, S&P 500 steady, Nasdaq falls; Intel surges, Tesla plummets as Retail sales miss estimates & Fed meeting looms
U.S. stock market today showed mixed trends as the Dow Jones climbed 0.4%, while the S&P 500 remained flat, and the Nasdaq Composite fell 0.5%. Treasury Secretary Scott Bessent's comments on stock corrections and recession fears added uncertainty. Meanwhile, retail sales rose just 0.2%, missing expectations. The Federal Reserve's upcoming meeting and Trump's tariff policies continue to drive volatility. Investors are eyeing key indicators as Wall Street recovers from a correction. With inflation concerns and market swings, the next moves of the stock market remain crucial.
Putin says Russia agrees with US' idea for ceasefire with Ukraine, but...
President Vladimir Putin stated on Thursday that Russia agreed with US proposals to stop the fighting in Ukraine, but emphasized that any ceasefire must address the root causes of the conflict and lead to lasting peace.
Government programme made tax filing free, more efficient. Musk, DOGE may get rid of it anyway
Mia Francis, a 22-year-old barista, successfully filed her taxes for the first time using the IRS Direct File programme, appreciating its ease and cost savings. However, with its future uncertain amid criticism and bureaucratic challenges, many taxpayers hope for its continuation due to its user-friendly and free services.
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US stock market today- Market plunge as Dow Jones falls 427 points, S&P 500 and Nasdaq react to economic slowdown fears; amid Trump’s tariffs on Canadian steel and aluminum
US stock market is on the declining path as Dow Jones plunged 427 points, reacting to Trump’s tariffs on Canadian steel and aluminum. The S&P 500 dropped 0.6%, while the Nasdaq Composite fell 0.1%. Market fears as the White House imposed higher duties on imports, sparking concerns over a US economic slowdown. Meanwhile, Citigroup downgraded US stocks, and Delta Air Lines slashed earnings forecasts. Investors now await February's CPI and PPI data for economic clarity.
Crypto leaders meet at Trump's summit with strategic reserve in focus
U.S. President Donald Trump hosted a landmark summit at the White House to discuss a strategic government-owned stockpile of digital assets. Key figures from the cryptocurrency industry attended, including executives from MicroStrategy, Coinbase, and Ripple. Trump's executive order aims to create a bitcoin reserve using assets forfeited in criminal or civil proceedings, emphasizing no cost to taxpayers.
Crypto leaders meet at Donald Trump's summit with strategic reserve in focus
U.S. President Donald Trump hosted a cryptocurrency summit at the White House, focusing on plans for a government-owned reserve of digital assets. The initiative includes an executive order to develop budget-neutral strategies for acquiring bitcoin, utilizing existing government-held assets. Industry leaders praised the administration's collaborative approach.
US Treasury secy defends Trump’s trade tariffs, says cheap goods not essence of American Dream
US Treasury Secretary Scott Bessent has come to the defence of the Trump administration's trade policy. He contended that economic prosperity is not the measure of the availability of affordable goods. He stated that tariffs are necessary to protect local industries and maintain economic security. In defiance of fears about increasing prices and a record-breaking trade deficit, Bessent maintained that the administration is still dedicated to affordability.
'Psychodrama': Mexico, Canada fume over Trump’s ‘on-again, off-again’ tariff negotiations
Trump Tariff War: Mexican and Canadian officials are frustrated with the unclear demands in tariff negotiations with the Trump administration. The on-again, off-again tariffs and shifting justifications are making resolution seem impossible. Canadian Prime Minister Trudeau warned of a trade war, while Mexican President Sheinbaum emphasized respect for the U.S. A lack of clarity challenges negotiations.
Asian stocks fall ahead of US non-farm payroll data
Shares in Australia and Japan fell more than 1% in opening trade while equity index futures for Hong Kong slipped. Drops for Japanese benchmarks reflected declining risk sentiment and a Thursday rally in the yen.
Markets wrestle with Trump's unconventional debt ideas
Investors are considering Donald Trump's unconventional strategies to address the rising U.S. debt, which exceeds $36 trillion. Trump's administration, avoiding cuts to popular benefits, is exploring options like forced debt swaps with foreign governments and selling residency cards to the wealthy, aiming to lower interest payments and boost revenue.
US, Ukraine now plan to sign minerals deal, sources say
U.S. President Donald Trump's administration and Ukraine were set to sign a minerals deal, which fell through after a contentious Oval Office meeting where Ukrainian President Volodymyr Zelenskiy was asked to leave. The deal remains uncertain, with discussions continuing and potential for future signing amidst diplomatic tensions.
Trump says Japan, China cannot keep reducing value of their currencies as it would be 'unfair' to America
U.S. President Donald Trump has accused Japan and China of reducing the value of their currencies, calling it unfair to the United States. Trump suggests that tariffs could counteract this disadvantage. Japan denies taking direct actions to weaken the yen, emphasizing its adherence to agreements on currency policy with G7 and G20 countries.
Trump says Japan, China cannot keep reducing value of their currencies as it would be 'unfair' to America
U.S. President Donald Trump has accused Japan and China of reducing the value of their currencies, calling it unfair to the United States. Trump suggests that tariffs could counteract this disadvantage. Japan denies taking direct actions to weaken the yen, emphasizing its adherence to agreements on currency policy with G7 and G20 countries.
How Trump and Zelenskiy’s Oval Office skirmish broke a deal
A severe rift emerged between President Trump and Ukrainian President Zelenskiy during a heated Oval Office exchange, resulting in the collapse of a critical minerals deal. The confrontation escalated diplomatic tensions and undermined prospects for a peace agreement with Russia, while drawing intense scrutiny and political reactions in the US.
The World Bank pivoted to climate. That now may be a problem
The Trump administration's possible withdrawal and its intent to defund climate projects are primary concerns amid growing competition from Chinese development banks.
Zelenskyy says progress made on reaching an agreement with the US on rare minerals deal
President Zelenskyy confirms a more equitable deal is being negotiated with the U.S. for Ukraine's rare earth minerals, without the proposed $500 billion payment. Kyiv seeks security guarantees to deter future Russian aggression, while European leaders prepare for discussions amidst shifting U.S. policies under President Trump.
Trump targets China with biggest salvo so far in second term
The Trump administration has intensified actions against China, including curbing investments in US tech and strategic sectors and proposing tariffs on Chinese ships. Amid rising tensions, China's investment in North America has significantly decreased, and the US-China trade war continues to escalate, with potential impacts on global relations.
Gold on pace to log 8th weekly advance as ETFs lure inflows
Gold is set for its eighth weekly increase, driven by geopolitical and trade tensions, reaching over 1% higher this week. A surge in bullion-backed exchange-traded funds and increased central bank buying have contributed to the metal's rise. Market concerns include potential changes in US support for Ukraine and the weakening US dollar.
US could cut Ukraine's access to Starlink internet services over minerals, say sources
"Ukraine runs on Starlink. They consider it their North Star," said the source. "Losing Starlink ... would be a massive blow."
Oil extends gains on strong US demand hopes, Russia supply concerns
Oil prices rose on Friday, heading for a weekly gain due to falling inventories of U.S. gasoline and distillate indicating strong demand. Concerns over supply disruptions in Russia and reduced Caspian Pipeline Consortium oil flows also contributed to the price increase, despite higher oil volumes from Kazakhstan.
Dollar hits year-to-date lows as bulls get nervous
The yen rose to its highest level in 2-1/2 months due to a surge in Japanese inflation. The dollar weakened as Trump's tariff threats remained mostly rhetoric. The euro steadied ahead of the German elections, while evidence of rising Japanese inflation bolstered the case for higher rates. Sterling also reached its highest since mid-December.
DOGE says it’s saved Trump government $55 billion, itemized data show far less
The Department of Government Efficiency (DOGE) claims to have saved $55 billion in federal spending, but its website only accounts for $16.6 billion. Questions have arisen about the reliability and transparency of DOGE's reporting, particularly regarding a misreported $8 billion contract value.
The clock’s ticking: Elon Musk under fire for skipping public financial disclosure 3 weeks after Donald Trump was sworn in; legal experts demand answers
Elon Musk has not yet submitted the mandatory financial disclosure form required of high-level government officials. Nearly three weeks after his appointment, his financial details have not been made public. The White House asserted that Musk has complied with federal laws, but has not confirmed if the form has been filed.
Who is Marc Fogel? US teacher freed by Russia, but why is Donald Trump making a big deal about it?
In a high-profile prisoner exchange, American teacher Marc Fogel has been released from Russian custody after serving over three years for drug charges. The Kremlin confirmed the swap, withholding details about the Russian national released in return. Fogel, arrested in 2021 for carrying medically prescribed marijuana, endured harsh prison conditions before the Trump administration secured his freedom.
Donald Trump's acting CFPB chief halts all supervision of companies
Russell Vought, appointed by President Trump, has halted all activities of the Consumer Financial Protection Bureau and cut its funding. This move leaves many financial activities without federal oversight. Trump's administration aims to neutralize the agency was part of broader governmental changes. Elon Musk's involvement and its implications for regulatory control raise significant concerns.
US dollar rises on mixed jobs report, trade war threat
The US dollar climbed after January's slower job growth report, with the unemployment rate dropping to 4.0%. Comments from President Trump about impending reciprocal tariffs also supported the currency. Meanwhile, investor concerns about global trade resurfaced, impacting other currencies such as the British pound and the yen.
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