Rumours about Fed Chair sparked market turmoil but Wall Street ends higher . Wall Street closed modestly higher on Wednesday, 16 July, with the Nasdaq Composite hitting a fresh record, despite a brief period of volatility earlier in the day.
The turbulence was triggered by rumours that U.S. President Donald Trump intended to dismiss Federal Reserve Chair Jerome Powell. Following these reports, both bond and stock markets experienced sharp fluctuations.
However, calm was restored after it was clarified that the president had no plans to remove Powell from his position.
The S&P 500 index rose by 19.65 points (0.31%) to close at 6,263.41, the Nasdaq Composite gained 51.82 points (0.25%) to finish at 20,729.62, and the Dow Jones Industrial Average increased by 220.61 points (0.50%) to end at 44,243.90.
Financial analysts noted that Goldman Sachs delivered a strong quarterly report, which helped maintain optimism in the market, despite some slight weakness in investment banking. Overall, the market appears to be undergoing a phase of profit-taking at this stage.
Rumours about Fed Chair sparked market turmoil but Wall Street ends higher . Wall Street closed modestly higher on Wednesday, 16 July, with the Nasdaq...
Mozambique reports surge in mpox cases, with Niassa province hardest hit. The northern province of Niassa in Mozambique is facing the most severe impa...
US President Donald Trump on Wednesday fiercely criticised some Republican colleagues who have questioned his administration’s handling of the Jeffr...
The UK government has apologised for mistakenly leaking the personal data of nearly 18,000 Afghans who applied under the Afghan Relocation and Assista...
On 9 July, two freight trains departed from the Chinese cities of Chongqing and Chengdu bound for Europe via Türkiye. According to the Turkish Minist...
Mozambique reports surge in mpox cases, with Niassa province hardest hit. The northern province of Niassa in Mozambique is facing the most severe impact from the mpox virus outbreak.
US President Donald Trump on Wednesday fiercely criticised some Republican colleagues who have questioned his administration’s handling of the Jeffrey Epstein case.
The UK government has apologised for mistakenly leaking the personal data of nearly 18,000 Afghans who applied under the Afghan Relocation and Assistance Policy (ARAP) in 2022. It also revealed a secret relocation scheme, the Afghan Response Route (ARR), set up to protect many of those affected.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 10th July, covering the latest developments you need to know.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Chinese automaker Chery has denied an industry-ministry audit that disqualified more than $53 million in state incentives for thousands of its electric and hybrid vehicles, insisting it followed official guidance and committed no fraud.
During the Shanghai Cooperation Organisation (SCO) Council of Foreign Ministers meeting in Tianjin on Wednesday, Pakistani Foreign Minister Ishaq Dar met with his Chinese counterpart Wang Yi to discuss the ongoing developments of the multibillion-dollar China-Pakistan Economic Corridor (CPEC).
US President Donald Trump on Wednesday fiercely criticised some Republican colleagues who have questioned his administration’s handling of the Jeffrey Epstein case.
The UK government has apologised for mistakenly leaking the personal data of nearly 18,000 Afghans who applied under the Afghan Relocation and Assistance Policy (ARAP) in 2022. It also revealed a secret relocation scheme, the Afghan Response Route (ARR), set up to protect many of those affected.
A 7.2-magnitude earthquake struck the Alaska Peninsula on Wednesday, according to the German Research Centre for Geosciences (GFZ).
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