Cut wall streets Immediate Reaction was pure suspicion. Oh, he doesnt have the heart in the rate cut hes not as worried as he should be hes being dragged kicking and screaming to this rate cut because things are weaker overseas, not here thats why the averages initially got hammered before the market peoplely came to its senses later in the afternoon. Dow only closing up 36 s p advancing 0. 03 and nasdaq declining 0. 11 . The u. S. Economy does have a lot of strength. It does. The rest of the world does have a lot of weakness so we got what pundits were calling a hawkish cut. Theyre so clever, meaning its the last rate cut or maybe the penultimate rate cut apparently that wasnt enough for some money managers. What do they want they were so disappointed they wanted to be surprised and wanted powell to tell us hes enthusiastic about easing and it will find a way to strongarm the others the bulls wanted Bill Belichick fed chief, okay. Lets get this done. Do your job chairman who wont let
More on all our stories, with analysis from our correspondents, on our website, or you can download the bbc news app. Now on bbc news, live to singapore for Asia Business report. The fed split over rate decision. The fed split over rate decision. The worlds most important Central Bank Cuts the cost of borrowing but policymakers disagree over future moves. Raising to sell off 10,000 tons of pigmeat to help cool soaring prices. It is a thursday. Good morning, asia. Hello, world. Glad you could join us for another action packed edition of Asia Business report. Im rico hizon. We started the programme with the Global Economy because Americas Central Bank has lower the cost of borrowing for a second time since the 2008 financial crisis. The widely anticipated 0. 25 cut comes as fears grow about slowing growth and trade wa is grow about slowing growth and trade wars around the world. But that wasnt enough for the us president. Despite the Federal Reserves long held independence from the white
Maybe actually get something done hallelujah i got to tell you thats how i felt when i interviewed nancy pelosi, leader of the Democrat Party about how she looks at things for now you should know shes hoping for constructive dialogue between democrats, republicans, including the president which is something i pretty much had written off as impossible. [ buzzer ] now before i go into what i heard remember that despite todays sedate action, dow inching up 34 point, s p advancing 2. 6, nasdaq gaining 0. 40 we are on the cusp of an incredibly important fed meeting. The guys that keep buying on tech news like we got today. Im concerned about the fed meeting. If i were jay powell i might want to stick it to the president by saying, theres no need to cut Interest Rates we have plenty of job growth and the only possible slowdown is being caused by the trade war which is very much by design so why should the fed lift a finger to ameliorate the pain . The house of pain President Trump is out the
Thats all. Stay with bbc world news. For more on all our stories go to the bbc news website. The address is bbc. Co. Uk news. Or download the bbc news app. Now on bbc news live to singapore for Asia Business report. Oil prices soar after saudi attacks. Brent crude jumps by the most on record as half is affected. Cryptocurrency s, cruising or crunched . Lets begin with the Global Energy markets because the price of rent crude has jumped by markets because the price of rent crude hasjumped by the most on record after drones attacked Key Facilities in saudi arabia over the weekend. The double digitjump that weekend. The double digitjump that we have not seen before. The attacks on the areas have taken out more than half of the worlds supply. Us President Donald Trump moved to ease thejump in President Donald Trump moved to ease the jump in prices President Donald Trump moved to ease thejump in prices by authorising thejump in prices by authorising the release of oil reserves. But raised c
Lab. Opens his largest campus to date in india. Company is to capture the thecompany is to capture the ecommerce market and in coming years. Now, to our top story as the trade war rages on, seems like apples ceo might be making progress in getting the president s ear via phone calls. That is what President Trump told reporters. Thats before he departed for kentucky. Take a listen. Pres. Trump he is the one that called. That is why he is a great executive. Because he calls me and others dont. Others go out and hire very expensive consultants. Tim cook called donald trump directly. I would take their call, too. Hes the only one that calls me. He calls me whenever there is a problem. Emily President Trump, talking about tim cook there. To discuss this and more, i want to welcome cathie wood. So great to have you here in the studio. What do you make of tim cooks approach . Cathie i think this is good news for apple, for technology. Emily the president has the denied some of apples formal r