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NEW YORK: GameStop Corp had the biggest day yet of its dizzying rally, adding more than US$10bil in market value, as bullish day traders kept the upper hand over short sellers.
WASHINGTON: The Federal Reserve on Wednesday left its key overnight interest rate near zero and made no change to its monthly bond purchases, pledging again to keep those economic pillars in place until there is a full rebound from the pandemic-triggered recession.
FRANKFURT: Resurgent coronavirus outbreaks will vex central bankers on five continents this week as they weigh the threat of more damage to growth against the hope that mass vaccinations will reopen economies.
PETALING JAYA: The ringgit may test the psychological level of 4.00 against the US dollar next week amid anticipation that Bank Negara would maintain the overnight policy rate at 1.75% at its meeting on Wednesday.
BEIJING: China’s inflation is likely to see moderate growth this year, but a consistent pickup is unlikely, given the constrained consumption of services, a senior central bank official said.
THE dollar found support from expectations of a continued economic recovery in the United States amid countries in Europe resorting to lockdowns to fend off a second Covid-19 wave; and expectations of higher government spending under the Biden administration – after a plunge in payrolls in December raised the prospect of more federal spending to aid the coronavirus-battered economy.
BENGALURU: South Korea and Thailand led Asia's emerging stock markets lower on Friday, as investors looked to the implementation of the $1.9 trillion of U.S. fiscal stimulus, while Taiwan's dollar advanced even as the central bank tried to rein it in.
THE reflation trade has been gathering momentum again in recent weeks as shown by rising U.S. Treasury yields and increasing inflation expectations.