Japan's Nikkei rose for a third straight day on Tuesday as investors tiptoed back into equities amid signs of a slight easing of trade tensions between the United States and China. Hopes for fresh stimulus moves by major economies also boosted riskier assets.
Japanese shares edged up on Tuesday as investors tiptoed back into equities, amid signs of a slight easing of trade tensions between the United States and China and continued hopes for fresh stimulus moves by major economies. On Monday, Washington extended a reprieve that permits China's Huawei Technologies to buy components from U.S. companies by 90 days, to supply existing customers.
U.S. stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell. The Dow Jones Industrial Average rose 249.58 points, or 0.96%, to 26,135.59, the S&P 500 gained 34.88 points, or 1.21%, to 2,923.56 and the Nasdaq Composite added 106.82 points, or 1.35%, to 8,002.81.
Federal Reserve Bank of Boston President Eric Rosengren remains worried that central bank interest-rate cuts are unwarranted and could destabilize the financial sector-- but signaled he's open to action if convinced the economy was taking a turn for the worse. In an interview on Bloomberg's television network on Monday, Mr. Rosengren reiterated his view that the economy is doing pretty well and also doesn't need cheaper short-term borrowing costs.
* Indexes up: Dow 1.07%, S&P 1.29%, Nasdaq 1.41% * Apple (AAPL) provides biggest boost to three main indexes. * U.S. extends reprieve given to Huawei. * Estee Lauder (EL) jumps after full-year forecast raised. By April Joyner.
Boston Federal Reserve Bank President Eric Rosengren on Monday said U.S. economic conditions are still good and that lowering interest rates could encourage a worrying buildup in debt. "The lower interest rates are, the more you're encouraging people to take on more debt.
WASHINGTON-- President Trump on Monday called for the Federal Reserve to cut its benchmark interest rate by 1 percentage point, a move that would typically be considered only when the U.S. economy is on the brink of a recession, and again criticized his own central bank chairman for a "horrendous lack of vision." In a pair of tweets Monday morning, the latest in a series of attacks Mr. Trump has levied against Fed Chairman Jerome Powell, the president said a combination of a reduced...
Wall Street opened higher on Monday, after China's plans of an interest rate reform reinforced hopes that major economies would act to counter the impact of escalating global trade tensions.
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