NEW YORK - Global stocks rallied on Tuesday and benchmark government bond yields tumbled after European Central Bank President Mario Draghi hinted at economic stimulus, while equities got an extra boost when U.S. President Donald Trump confirmed a meeting with China’s president amid the countries’ trade dispute.
The euro also slid after Draghi said the region’s central bank will ease policy again if inflation fails to accelerate, signaling one of the biggest policy reversals of his eight-year tenure. “It’s our view that the markets have been ahead of the central banks globally in signaling that there is a global economic slowdown underway, and that monetary policy in light of the current conditions are probably too tight and central banks need to reverse course, especially the Federal Reserve,” said Brad Peterson, regional portfolio advisor at Northern Trust Wealth Management in Chicago.
The Fed is expected to leave borrowing costs unchanged at its meeting this week but possibly lay the groundwork for a rate cut later this year.
Source: News Formal (newsformal.com)
Mario Draghi (ECB President)-'Reuters Top News'-TW
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Shanghai: China Pushes Soft Power Through Global Film Festival AllianceInternational festival leaders gather to discuss shared problems – and plans for a shared future.
Source: THR - 🏆 411. / 53 Read more »
Oil prices fall for second day on economic growth worriesOil prices eased for a second day on Tuesday on signs that global economic growt...
Source: Reuters - 🏆 2. / 97 Read more »
Trade War Update: Market Not Prepared For More China TariffsFitch says global growth will be even worse if Trump slaps China with tariffs on everything. The market will balance out.
Source: Forbes - 🏆 394. / 53 Read more »
Facebook reveals Libra cryptocurrency, sparking new privacy concernsFacebook reveals Libra cryptocurrency, sparking new privacy concerns via ReutersTV
Source: Reuters - 🏆 2. / 97 Read more »
Trade War Update: Market Not Prepared For More China TariffsFitch says global growth will be even worse if Trump slaps China with tariffs on everything. The market is not prepared for war But they're probably coming anyway Can Forbes help change the structure of commerce globally as we suffer new lives as internet shoppers? Local mfg & sales seem better than shipping globally. Maybe by country? Or continent? Serving customers nearby... smaller but better & more accountable. Yes tariffs ABC
Source: Forbes - 🏆 394. / 53 Read more »
Oil’s Slide Highlights Global-Growth FearsOil prices have remained soft this month despite rising geopolitical tensions and threats of supply disruptions, the latest sign that investors fear trade friction will hit global growth and sap demand for crude. The only entities suffering are import export moguls. Cheap oil makes for domestic growth at the level of the common citizen. America is at its best when it is working. Bring home the jobs at all costs. USA First! trade war, no winner.
Source: WSJ - 🏆 98. / 63 Read more »