Global shares are trading mixed as investors digest a blowout profit report from Nvidia and mixed reports on the United States economy.
A currency trader stands near the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, Aug. 25, 2023. Asian shares mostly fell Friday, discouraged by a Wall Street slump that followed a blowout profit report from Nvidia and mixed reports on the U.S. economy.
Japanese inflation eased to 2.9% in August from the previous year, largely because of lower energy prices, according to government data. The consumer price index, excluding fresh food prices, rose 2.8% from the previous year, the gains easing for the first time in two months. Reports on the U.S. economy were mixed. One showed fewer U.S. workers applied for unemployment benefits last week. Another said orders for long-lasting manufactured goods slumped by more last month than economists expected.
The Federal Reserve has already raised its main interest rate to the highest level since 2001 in hopes of grinding down high inflation. High rates work to do that by slowing the entire economy and hurting prices for investments.would prove to be the last of this cycle, after inflation cooled considerably since peaking above 9% last summer. Traders also have made bets for the Fed to begin cutting rates in early 2024.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Asian shares mostly decline ahead of Federal Reserve’s Powell speechAsian shares are mostly falling, discouraged by a Wall Street slump that followed a blowout profit report from Nvidia and mixed reports on the U.S. economy.
Read more »
Can the Federal Reserve keep raising interest rates?After a year of rising interest rates, the Federal Reserve is expected to change course at its next meeting.
Read more »
Regions fined $2.95 million by Federal Reserve: Possibly largest penalty of its kind ever leviedThe fine was for 'unsafe and unsound practices in its flood insurance compliance program and for flood insurance regulatory violations.'
Read more »
Federal Reserve Board fines Regions Bank $2.95 million for flood insurance regulatory violationsThe Federal Reserve Board issued an enforcement action and fined Regions Bank approximately $2.95 million for unsafe and unsound practices in its flood insurance compliance program and for flood insurance regulatory violations.
Read more »
AMC’s stock falls 21% ahead of APE stock conversionShares of AMC are on pace to extend a two-day losing streak.
Read more »