Money

U.S. debt ceiling overshadows G7 Finance leader meeting

Published

3 years ago

May 12, 2023

ticker NEWS

The mood of the meeting has been taken over with discussions about the United States

A standoff in Washington over raising the U.S. debt ceiling overshadowed a meeting of G7 finance chiefs.

The ministers were gathering in the Japanese city of Niigata.

Global economic risks, including stubbornly high inflation, are among their key topics.

“A default would threaten the gains that we’ve worked so hard to make over the past few years in our pandemic recovery, and it would spark a global downturn that would set us back much further,” U.S. Treasury Secretary Janet Yellen said.

“It would also risk undermining U.S. global economic leadership and raise questions about our ability to defend our national security interests.”

The U.S. standoff is a headache for Japan, which is this year’s G7 chair and the world’s biggest holder of U.S. debt.

Past such fights have typically ended with a hastily-arranged agreement in the final hours of negotiations, avoiding a default.

“In the G7 this time around, it is unlikely that we will discuss in depth about specific topics,” Japanese Finance Minister Shunichi Suzuki said.

Even as rapid rate hikes by the Federal Reserve weigh on the U.S. economy, recent data has also shown signs of weakness in China, the world’s second-largest economy.

Figures released showed the country’s consumer prices rose at the slowest pace in more than two years in April, while factory gate deflation deepened.

Other key themes to be discussed at the G7 gathering include ways to strengthen the global financial system following the U.S. banking turmoil, and steps to prevent Russia from circumventing sanctions over its invasion of Ukraine.

Money

Australia’s sharemarket set for weakest annual return in three years

Australia’s sharemarket set for weakest return in three years; gains from gold and critical minerals offset blue-chip losses.

Published

12 hours ago

December 22, 2025

Harvey Vargas

Australia’s sharemarket set for weakest return in three years; gains from gold and critical minerals offset blue-chip losses.

Australia’s sharemarket is on track for its weakest annual return in three years, with the S&P/ASX 200 Index expected to finish 2025 up around 6 per cent. Investors are feeling the impact of major losses from blue-chip companies, including Commonwealth Bank and CSL, which have dragged overall performance.

Despite the slow year, certain sectors provided a boost. Gains were largely driven by surging gold prices and rising interest in critical minerals, helping offset some of the losses from larger companies.

Smaller companies in the resources sector outperformed their larger counterparts, highlighting a shift in investor focus towards niche opportunities and high-demand commodities.

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Money

US stocks surge amid AI hype despite market volatility

US stock market bounced back, S&P 500 up 16% in 2023, driven by AI excitement amid policy uncertainties.

Published

14 hours ago

December 22, 2025

Harvey Vargas

US stock market bounced back, S&P 500 up 16% in 2023, driven by AI excitement amid policy uncertainties.

The US stock market has experienced a rollercoaster year, with the S&P 500 nearly entering a bear market in April due to tariff concerns. Investor sentiment shifted following policy changes from President Trump, setting the stage for a dramatic rebound.

By June, the S&P 500 was hitting new records, fueled by excitement over artificial intelligence and its impact on the tech sector. Corporate profit forecasts improved, contributing to an overall annual gain of 16%, despite ongoing market fluctuations.

Yet, the S&P 500 still trails international markets, reflecting lingering policy uncertainties in the US.

Investors are watching closely to see how domestic and global factors will shape the next year.

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Money

Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Published

4 weeks ago

November 27, 2025

Harvey Vargas

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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