After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported in their fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
Apple's move into banking could break a key relationship point between customers and wireless carriers such as Verizon and AT&T, according to MoffettNathanson.Marketsread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Reps. Rosa DeLauro, D-Conn., and Lucille Roybal-Allard, D-Calif., say they sent a letter to Homeland Security and the Department of Health and Human Services seeking answers.Health and Scienceread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
Australian and Hong Kong markets were broadly negative on Monday, following tariffs between the U.S. and China that kicked in.
The ASX 200 recovered from its earlier losses but still closed 0.12 percent lower at 6,186.9, with the heavily weighted financial sector shedding 0.11 percent. Commonwealth Bank of Australia slid by 0.51 percent, while AMP's stock lost 1.24 percent.
Rare earths miner Lynas saw its stock make a slight recovery but still ended the trading day lower by 18.33 percent, after the company announced earlier that it was aware of media speculation surrounding a possible review of its operations in Malaysia.
In the Greater China region, Hong Kong's Hang Seng index slid further as it traded lower by 1.69 percent as of 3:05 p.m. HK/SIN, with property developer Country Garden's stock still down by 6.27 percent.
The markets in Japan, South Korea and China were closed for public holidays on Monday.
The U.S.-China trade war remained in focus Monday, with tariffs from both parties going into effect at 12.01 p.m. HK/SIN. Washington had announced 10 percent duties on $200 billion of Chinese imports, which prompted Beijing to respond with tariffs on $60 billion of U.S. goods. On Friday, the Wall Street Journal reported that China had called off planned trade talks with the U.S. in the wake of a new round of duties.
"The markets have started the week on the back foot after China pulled out of scheduled talks with the US just hours before the next round of tit for tat tariffs are due to be introduced," said Rakuten Securities Australia in a morning note.
In the hours after the tariffs came into play, the safe-haven was largely flat against the dollar at 112.53, while the trade-sensitive slipped lower at $0.7266, as of 3:12 p.m. HK/SIN. The offshore yuan also weakened against the dollar at 6.8635, while the South Korean won was 0.4 percent lower against the greenback at 1,118.42 won.
The U.S. dollar currency index, which tracks the greenback against a basket of currencies, was at 94.289 as of 3:14 p.m. HK/SIN, remaining slightly stronger as compared to its performance in the morning of Asian trade.
In U.S. market action, the Dow Jones Industrial Average and saw record highs Friday. The Dow climbed 86.52 points higher to close at 26,743.50, while the S&P 500 ended largely flat at 2,929.67. The , on the other hand, slid by 0.51 percent to close at around 7,986.96.