Stock markets had a mixed showing Thursday as European indices rallied while Wall Street slipped on concerns over interest rates.
European Central Bank policymakers delivered another interest rate increase as anticipated, with eurozone consumer prices still rising fast.
The US Federal Reserve, as expected, also raised borrowing costs again on Wednesday as it seeks to bring inflation down further, but there remain lingering worries of more aggressive actions ahead. Data out Thursday showed that the US economy confounded expectations with growth accelerating in the second quarter.
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AI mania drives Wall Street to higher close ahead of earningsThe tech-heavy Nasdaq closed higher on Tuesday, leading gains on Wall Street amid investor excitement about artificial intelligence before earnings reports from megacap technology companies Alphabet and Microsoft after the bell. | Reuters
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Asian markets decline ahead of what traders hope will be final Fed rate hikeAsian stock markets retreated Wednesday after Wall Street hit a 15-month high ahead of a Federal Reserve meeting that traders hope will end with the final increase in this interest rate cycle. | AP
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European banks flag bad loan risks as global economy faltersEurope’s major banks, including Deutsche Bank and Lloyds Banking Group, on Wednesday pointed to the rising risk of bad loans as the global economy struggles with slow growth and high inflation. | Reuters
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Marcos to meet European Commission president in ManilaEuropean Commission President Ursula von der Leyen is set to arrive in the Philippines from July 30 to August 1 for an official visit, Malacañang announced Thursday, July 27.
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Marcos welcomes EU Commission president's PH visitPresident Ferdinand 'Bongbong' Marcos Jr. welcomed the upcoming visit of the European Commission (EC) President Ursula von der Leyen, saying it could bring the Philippines and the European Union (EU) even closer.
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