Author: Jack Mulligan

Investors turned to U.S. government bonds on Thursday as expectations for American economic growth continued to decline, weighing on stocks. The bond rally helped avoid a third consecutive daily loss, even as 10- and 30-year yields reached their highest levels so far this month. Bonds Offer Stability Amid Market Volatility Despite U.S. economic data showing slower inflation, bond investors largely dismissed it as a temporary trend, attributing broader economic risks to the Trump administration’s trade policies. “Treasuries have done a nice job buffering against drawdowns in equities,” said Ed Al-Hussainy, global rates strategist at Columbia Threadneedle Investments. “That’s a really…

Wall Street advanced on Wednesday as cooler-than-expected inflation data helped stem a sharp selloff among growth stocks. However, gains were capped as U.S. President Donald Trump’s escalating tariff war continued to unsettle markets. Market Reaction to Inflation Data The S&P 500 and the tech-heavy Nasdaq moved into positive territory, with the latter benefiting from a strong performance in technology shares, particularly microchips. The Labor Department’s Consumer Price Index showed consumer prices rising at a slower pace than expected, reinforcing hopes that inflation is cooling. This has fueled speculation that the U.S. Federal Reserve might consider interest rate cuts this year.…

Stocks pared their losses late Tuesday as the Nasdaq attempted a recovery after President Donald Trump announced he is raising tariffs on Canadian steel and aluminum to 50% and threatened higher duties on imported cars. Tariff Impact on Markets Trump’s move, announced on Truth Social, claimed that these tariffs would “essentially, permanently shut down the automobile manufacturing business in Canada.” He added, “Those cars can easily be made in the USA!” The S&P 500 edged closer to correction territory, slipping 0.5% to around 5,580. The Dow Jones Industrial Average (^DJI) dropped roughly 400 points, or 1%, weighed down by a…

Elon Musk-backed Department of Government Efficiency (DOGE) is introducing an AI-powered chatbot to federal workers while continuing to reduce the government workforce. The department, tasked with modernizing federal technology, has rapidly expanded the deployment of its chatbot, GSAi, according to a report from Wired. AI Chatbot for Government Workers DOGE has launched the GSAi chatbot to approximately 1,500 government employees, following a smaller pilot involving 150 General Services Administration (GSA) workers in February. Sources indicate that DOGE has significantly accelerated the chatbot’s rollout in response to widespread staff reductions. The AI tool has been designed to support various government tasks…

After a turbulent week for global markets, investors are digesting the latest US jobs report, tariff uncertainty, and a major surge in the euro. US Job Market Shows Growth Despite Federal Layoffs The US labor market added 151,000 jobs in February, up from an adjusted 125,000 in January, even as the economy faced threats of mass layoffs in the federal workforce and uncertainty over President Donald Trump’s tariff policies. The unemployment rate rose to 4.1%, up from 4% in January, but remains within the narrow range of 4.0% to 4.2% seen since May 2024, according to the Bureau of Labor…

South Korean fighter jets mistakenly dropped eight bombs on a civilian district during military exercises in Pocheon on Thursday, injuring 15 people and causing damage to houses and a church, according to the Air Force and fire agency. Injuries and Damage Reported The fire agency confirmed that 15 individuals sustained injuries, with two people in serious condition. Pocheon, located about 40 kilometers (25 miles) northeast of Seoul, is near the heavily militarized border with North Korea. “There was a sudden loud roar of a fighter jet, then an explosion rang out… When I went to the scene, there were about…

China has responded to President Donald Trump’s escalating trade war with defiance, refusing to back down despite facing 20% tariffs on all exports to the U.S. Beijing has countered with its own retaliatory tariffs, signaling resilience even amid its own economic struggles. This firm stance was evident at the opening of the National People’s Congress (NPC) on Wednesday. National People’s Congress: A Show of Strength Thousands of delegates from across China gathered in Beijing’s Tiananmen Square for the country’s most important political event. Dressed in ceremonial attire, they arrived for discussions largely centered on the economy, though certain sensitive topics—such…

Shares in European carmakers and automotive suppliers fell sharply on Tuesday after new U.S. tariffs of 25% took effect on imports from Canada and Mexico, a key automotive manufacturing hub for global firms. Major Declines in European Auto Stocks The STOXX Europe 600 Automobiles and Parts Index (.SXAP) experienced its largest drop since September 2022, falling 5% in afternoon trading. Companies such as Volkswagen (VOWG_p.DE), Stellantis (STLAM.MI), and BMW (BMWG.DE) were among the hardest hit, as all have significant manufacturing sites in Mexico. According to Mexico’s automotive industry association, Stellantis and Volkswagen Group—including Audi—are the largest European exporters of light…

The European Central Bank (ECB) is widely expected to cut rates again on Thursday, but uncertainty over its future course has reached new highs. Investors are weighing intensifying U.S. tariff risks, a changing German government, a possible Ukraine ceasefire, and a surge in European defense spending. 1. What Will the ECB Do on Thursday? The decision itself is straightforward: another 25 basis point cut, bringing the key rate down to 2.50%. However, market participants will closely scrutinize how the ECB assesses financing conditions, which could provide hints about the rate trajectory after March. “It will be important to see if…

The owners of New Zealand’s Whakaari (White Island) volcano, where a deadly eruption in 2019 claimed the lives of 22 tourists and local guides, had their criminal conviction for failing to ensure visitor safety overturned by a judge on Friday. Background: Deadly Eruption and Legal Battle The eruption occurred in December 2019 when the active volcano on New Zealand’s North Island unexpectedly erupted, catching a group of tourists off guard. The victims were primarily U.S. and Australian cruise ship passengers on a guided walking tour of the island. Following the tragedy, Whakaari Management, the company owned by three brothers who…