A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
European stocks moved higher Tuesday afternoon, despite ongoing tensions between Italy and the European Union (EU) over Rome's budget spending plans.
The pan-European Stoxx 600 provisionally finished up 0.26 percent during afternoon deals, with most sectors and major bourses in negative territory.
The FTSE 100 gained 0.11 percent while Germany's DAX and France's CAC 40 gained 0.31 percent and 0.47 percent respectively.
Sterling gained sharply towards the end of European trade. The U.K. pound reached up above the $1.31 handle after traders cited a Dow Jones report that suggested that EU and U.K. divorce terms could be resolved by October 15th.
Basic Resources and Technology stocks led the charge higher in Europe, the latter sector taking its cue from a rebound on Wall Street.
In Paris, shares of Franco-Dutch airline Air France-KLM jumped over 5 percent amid hopes of a deal with labor unions. The company reportedly offered French pilots and staff a pay hike in a bid to end a standoff that has prompted damaging strikes and triggered the departure of the firm's chief executive earlier this year.
Looking at other individual stocks, German fintech company Wirecard rose 9.6 percent on Tuesday. It came after the firm forecast core profits to grow sixfold by the middle of the next decade, on the back of a global boom in e-commerce and digital payments.
Meanwhile, Britain's Sage tumbled towards the bottom of the index on Tuesday, down nearly 1.5 percent after Barclays slashed its stock recommendation to "underweight" from "equal weight."
On Tuesday, the yield on the U.S. Treasury yield reached 3.252 percent, its highest since May 2011, while the U.S. 30-year yield hit a four-year high at 3.439 percent.
That initially had an effect on US equity markets when they opened for trade but stocks cut losses on Tuesday as U.S. interest rates retreated from the multi-year highs seen earlier in the session.
The S&P 500 traded slightly higher, led by gains in consumer discretionary and utilities. The Nasdaq Composite advanced 0.4 percent as Facebook and Amazon both traded higher. The Dow Jones Industrial Average gained losses to sit about 8 points lower after initially falling more than 150 points.
Meanwhile, the International Monetary Fund cut its global economic growth outlook for this year and the next, citing trade uncertainties including the new NAFTA agreement, Brexit and the battle of tariffs between the U.S. and China.
In geopolitical news, U.S. Secretary of State Mike Pompeo has called on Saudi Arabia to thoroughly investigate the disappearance of journalist Jamal Khashoggi — a critic of the Saudi regime — after visiting the Saudi consulate in Istanbul. Pompeo's intervention comes after Turkish President Recep Tayyip Erdogan said Riyadh ought to prove that Khashoggi had in fact left the building at all. President Donald Trump has also said he is "concerned" about the situation.
Back in Europe, traders are closely monitoring the political situation in Italy, where tensions are growing between Rome and Brussels over the new coalition government's first budget and deficit targets.
Italy's populists are targeting a deficit of 2.4 percent of gross domestic product (GDP) next year, and say they will commit to a drop to 2.1 percent in 2020 and 1.8 percent in 2021. European Affairs Minister Paolo Savona on Monday sought to assuage worries of a standoff between Italy and the EU, saying he was confident the government would reach an agreement with the European Commission.