Europe Market Open: Asian stocks are mixed as markets reflect on recent developments including a dovish Powell and disappointing Chinese Caixin Manufacturing PMI
01 Aug 2024, 06:38 by Newsquawk Desk
- FOMC kept rates unchanged at 5.25-5.50%, as expected, while it stated that inflation remains 'somewhat elevated' and the committee is attentive to the risks to both sides of its dual mandate.
- Fed Chair Powell said if the Fed sees inflation move down with expectations, growth remains reasonably strong and the labour market remains as it is, a rate cut would be on the table in September.
- US stocks saw a rally in tech and some mild two-way action following the...