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NEW YORK: Wall Street closed lower on Thursday after making a u-turn toward the end of the session as reports emerged about U.S. President-elect Joe Biden's pandemic aid proposal following earlier data that showed a weakening labor market
KUALA LUMPUR: The ringgit opened marginally lower against the US dollar on Thursday due to the lack of buying interest, in spite of the greenback’s weaker performance, said an analyst.
FEDERAL Reserve (Fed) officials are beginning to split over when they may need to start pulling back on their massive monetary stimulus, drawing nervous glances from investors who remember how markets were roiled during the 2013 taper tantrum.
IF the global financial crisis taught economic policy makers anything, it was go early and go hard. The cost of hesitating proved too great.
THE pandemic relief deal that Congress struck this week is long overdue. Unfortunately, the package includes a provision that threatens to make this and future crises worse – by limiting the emergency powers of the Federal Reserve.
NEW YORK: Global stocks hit record highs on Thursday, fueled by growing optimism that deals will be reached over a fresh U.S. stimulus package and a post-Brexit trade deal between the United Kingdom and the European Union.
WASHINGTON: The Federal Reserve on Wednesday vowed to keep funneling cash into financial markets until the U.S. economic recovery is secure, a promise of long-term help that fell short of hopes of an immediate move to shore up a recent pandemic-related slide.
NEW YORK: Asian stocks were poised for gains on Wednesday as global markets moved with confidence that vaccinations and additional monetary and fiscal support from governments will drive economic growth.