Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
U.S. stocks closed mixed Wednesday after the Federal Reserve announced a widely expected interest rate cut and signaled two additional reductions later this year. The S&P 500 dipped 0.1% to finish just below record highs at 6,626.99, while the Dow Jones Industrial Average gained 260 points, or 0.6%. The Nasdaq Composite slipped 0.3%.
The Fed reduced its benchmark rate by 0.25% for the first time in nine months, citing a cooling labor market that threatens growth despite inflation still above its 2% target. Policymakers now project three rate cuts in 2025, up from one previously forecast, though Morgan Stanley noted the consensus is fragile, with a single shift in votes cutting the median back to two. Inflation and unemployment projections for this year remain unchanged.
On Wall Street, General Mills (NYSE:GIS) shares fell as the food giant reported weaker demand in its core North America segment, with volumes down 16% year-over-year. The company reaffirmed annual sales and profit guidance but warned that category growth may undershoot long-term expectations amid cautious consumer spending and tariff-driven uncertainty.
Apple (NASDAQ:AAPL) reported a 6% drop in China smartphone sales ahead of the iPhone 17 launch, according to Counterpoint Research. Meanwhile, Lyft (NASDAQ:LYFT) stock jumped after unveiling a partnership with Waymo to bring self-driving ride-hailing to Nashville in 2026, while rival Uber (NYSE:UBER) slipped.
Workday (NASDAQ:WDAY) rose after activist investor Elliott Management revealed a $2 billion stake, showing confidence in leadership. Baidu (NASDAQ:BIDU) surged as optimism grew around its AI chip efforts, seen as key to China’s semiconductor independence push.
Markets remain focused on Fed policy, consumer demand trends, and corporate earnings as investors gauge the path forward for growth and inflation.
