The Australian sharemarket is set for a lacklustre open after Wall Street closed little changed following President Donald Trump’s latest tariff escalation.
The Australian sharemarket is set for a lacklustre open after Wall Street drifted following President Donald Trump’s latest tariff escalation and after the head of the Federal Reserve hinted interest rates aren’t likely to change for a while in the world’s largest economy.
The moves were modest not only in the US stock market but also in the bond market, where US Treasury yields rose by only a bit. In the meantime, much of Wall Street’s focus on Wednesday swung to a different part of Washington. Just a day ahead of a key inflation reading, Fed chair Jerome Powell said again in testimony on Capitol Hill that the FUS central bank is in no hurry to cut interest rates any further. He also told Congress it was unwise to speculate on tariff policy at this time. Powell is due to testify before the House Financial Services Committee on Wednesday.
“We’re in a pretty good place,” Powell said about where the economy and interest rates are. He said again he’s aware that going too slowly on rate cuts could damage the US economy, while moving too quickly could fan inflation higher. Helping to offset such losses was DuPont, which climbed 6.8 per cent after the chemical company reported better profit than Wall Street expected. The Delaware company said its results were helped by strong demand in its electronics business, which it is spinning off later this year.Coca-Cola rose 4.7 per cent after reporting stronger profit and revenue than analysts expected. Growth in China, Brazil and the United States helped lead the way.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX set to edge up, Wall Street slides ahead of Fed’s rate decisionUS stock indexes are drifting, ahead of the Federal Reserve’s upcoming decision on interest rates and after two days of disruption driven by doubts about the artificial-intelligence boom.
Read more »
ASX set to edge higher as Wall Street takes a breatherUS stock indexes are drifting following a mixed set of earnings reports from Morgan Stanley, UnitedHealth Group and other big companies.
Read more »
ASX set to rise after Wall Street bounceUS stock indexes closed their best week in two months with a flourish on Friday.
Read more »
ASX set to rise after Wall Street bounceUS stock indexes closed their best week in two months with a flourish on Friday.
Read more »
ASX set to rise after Wall Street bounceUS stock indexes closed their best week in two months with a flourish on Friday.
Read more »
Live: ASX higher after Wall Street gains on Trump tariff hesitation, Woodside shares slideThe Australian share market is trading higher on Wednesday, following off the back of Wall Street's gains overnight in response to Donald Trump's inauguration. Follow live.
Read more »