The Dow Jones Industrial Average suffered a significant setback on Friday, plummeting over 350 points and erasing much of the recent post-election rally. This sharp decline reflects growing investor concerns about the economic outlook and potential policy shifts. A key factor contributing to the market’s downturn was the release of …

Federal Reserve Bank of Chicago President Austan Goolsbee noted on Friday that markets tend to overreact to interest rate changes and that the Fed should maintain a slow and steady approach to reaching the neutral rate.Key QuotesIn regards to a December rate cut or pause. I don’t like tying our …

Federal Reserve Bank of Boston President Susan Collins hit the wires on Friday, downplaying pressures for continued rate cuts in the near term, but also keeping a steady hand underneath market expectations of a rate trim in December.Key QuotesThere’s no preset path for monetary policy.The economy is in a very …

Wall Street’s main indexes fell on Friday after Federal Reserve Chair Jerome Powell said there was no need to rush interest rate cuts, pushing up U.S. Treasury yields and pressuring equities. Powell pointed to ongoing economic growth, a solid job market, and inflation above the Fed’s 2% target as reasons …

The US Dollar surged on Friday, extending its winning streak to six consecutive days. This rally was primarily fueled by a shift in market sentiment following comments from Federal Reserve Chair Jerome Powell, who tempered expectations of an imminent interest rate cut.Powell’s hawkish tone, emphasizing the strength of the US …

Gold prices remained relatively unchanged on Friday, showing resilience despite the release of Retail Sales data in the United States. The precious metal, which had dipped to a two-month low the previous day, found support near its 100-day Simple Moving Average (SMA).While US Retail Sales data indicated continued consumer spending, …

The European Central Bank found itself at a crossroads during its October meeting, with policymakers divided over the evolving inflation landscape in the Eurozone. As the region grapples with sluggish economic growth, the central bank has been forced to navigate a delicate balancing act between stimulating growth and maintaining price …

Greenback Dominance Continues The US Dollar extended its rally on Thursday, hitting fresh 2024 highs. Despite a slight easing in US Treasury yields, the greenback remained resilient. This comes ahead of a busy economic calendar on Friday, with key US data releases expected to further influence market sentiment.Key Currency Pairs …

President Donald Trump could be considering his own favourite pick for the position of Federal Reserve Chairman other than Jerome Powell upon taking office next January to emphasize the constitutional responsibility of all executive branch officials to the president. The dispute arises from the Federal Reserve’s power over national monetary …

Certain stocks have been disappointed by Trump’s election-related gains; Tesla has lost 4.5% of its value since Election Day. Elon Musk’s business has grown to be a close buddy of Trump. Republicans may not instantly carry out their campaign pledges, even if they control the White House, Senate, and House …