Federal Reserve Chair Jerome H. Powell has capped his eight-year tenure with one of the most contentious policy moments in decades, underscoring deep divisions within the central bank. Besides, his decision to remain on the Federal Reserve Board after his chairmanship ends in May adds a new layer of complexity to an already delicate transition,
The Federal Reserve kept borrowing costs unchanged on Wednesday, holding the federal funds rate in the 3.50% to 3.75% range for a third straight meeting. But this was no routine pause. The vote was the most divided since 1992, with four officials dissenting, and that split sent a clear message to investors: the Fed is
The S&P 500 closed April at a fresh record high, capping its strongest monthly performance in over three years, as investors weighed escalating geopolitical tensions in the Middle East against robust corporate earnings and signs of continued economic resilience in the United States. The benchmark index rose 1% on Thursday, taking its gains for the
With the rise of the digital asset ecosystem, talking about speculation has quickly transitioned to how it can be used in the real world. In both developing nations and mature economies, industries are increasingly seeking ways to utilize crypto to ease payments, cut costs and grow their international footprint. Recent trends in the industry showcase
US stock index futures edged modestly higher on Friday as investors absorbed a strong earnings beat from Apple and basked in the afterglow of April’s exceptional rally, which handed the S&P 500 its best monthly performance in more than five years. The gains were tempered, however, by a sharp sell-off in Roblox after a sweeping
The British pound held close to a 10-week high against the US dollar on Friday. Traders assessed a week dominated by central bank decisions. The Bank of England (BoE) kept interest rates unchanged. It also warned about inflation risks linked to the Iran war. Sterling was little changed at $1.3606. It was slightly weaker against
Chinese electric vehicle maker BYD reported another monthly decline in vehicle sales, marking its longest-ever downturn as demand in its home market remains subdued. BYD’s vehicle sales fell 15.5% year-on-year in April, extending the streak to eight consecutive months of decline. The figures were based on Reuters calculations using data from a Weibo post by
Shares of Reddit surged in premarket trading on Friday after the company reported stronger-than-expected first-quarter results and issued an upbeat revenue forecast, highlighting growing returns from its artificial intelligence-driven advertising strategy. The stock rose about 12% ahead of the open, extending gains after climbing 6.3% in after-hours trading following the earnings release. Despite the rally,
US stocks gained on Friday, building on the momentum from one of the strongest monthly rallies in years, as investor optimism around corporate earnings outweighed lingering concerns about geopolitical tensions and oil market volatility. The Dow Jones Industrial Average rose about 180 points, or 0.36%, while the S&P 500 gained 0.54% and the Nasdaq Composite
Exxon Mobil reported a mixed performance for the first quarter of 2026. While the company’s revenue exceeded expectations, its adjusted earnings per share were below forecasts. This shortfall was primarily attributed to substantial one-off charges and timing issues related to derivatives. The stock fell 1.6% on Friday after the results came out. The strong underlying