Real-time News

Bank of Japan Governor Kazuo Ueda: We will assess the impact of the interest rate hikes in December and earlier.

The Dow Jones Industrial Average rose 307.65 points, or 0.63%, to close at 49,482.15 on Wednesday, February 25; the S&P 500 rose 56.05 points, or 0.81%, to close at 6,946.12; and the Nasdaq Composite rose 288.40 points, or 1.26%, to close at 23,152.08.

The Chicago Mercantile Exchange (CME.O) closed down 3.6%.

Disney (DIS.N): Starting today, Disney+ subscribers in the United States will have access to 24/7 live streaming of eight local ABC television networks.

According to Russian reports, the next trilateral meeting between Russia and Ukraine may not be held in Geneva.

Atlanta Federal Reserve President Raphael Bostic said on Wednesday that the rift between the Federal Reserve and the White House has begun to erode public trust in the central bank's apolitical position. This is one of the most direct warnings yet from a senior monetary policy official about the consequences of Trump's hawkish stance on the Fed. In his farewell address before retiring from the Atlanta Fed at the end of February, Bostic said his colleagues within the Fed system remain committed to keeping their work separate from politics. "But my visits over the past few months have made it clear that the legal and verbal battles surrounding the central bank have led people from all walks of life to question the Fed's independence, which is a serious concern." Bostic is not the only Fed official this year to emphasize the importance of central bank independence, but no one has warned as directly as he did on Wednesday that the current controversies could undermine public trust in the institution.

The vote count showed that the French government survived its first vote of no confidence in parliament.

Federal Reserve's Bostic: A broad group has begun to question the Fed's independence. The Fed's independence in setting monetary policy has improved economic outcomes and market confidence, helping to maintain the U.S.'s status as a safe haven.

KLM Royal Dutch Airlines: Flights between Amsterdam and Tel Aviv will be temporarily suspended starting March 1.

Federal Reserve Chairman Bostic: (On the independence of the Federal Reserve) I hope that rational judgment based on the success of the U.S. economy will take precedence. The "special status" of the United States in the global economy is not a given and must be maintained, and the independence of the Federal Reserve is part of that.

Hang Seng Index futures closed up 0.65% at 26,923 points in overnight trading, a premium of 157 points.

According to Politico: Netflix (NFLX.O) CEO Ted Sarandos will visit the White House on Thursday to discuss the acquisition of Warner Bros. Discovery (WBD.O).

Federal Reserve Chairman Mossallem: I expect the Fed to maintain its commitment to its dual mandate under the new chairman.

Ukrainian presidential advisor: Zelenskyy and Trump held a phone conversation, which has now ended.

Federal Reserve's Mussalem: I look forward to knowing what Warsh's priorities will be.

Federal Reserve Chairman Mossallem: Financial conditions are accommodative, with regulatory easing and fiscal tailwinds.

On February 26th, Federal Reserve Chairman Schmid stated on Wednesday that excessive inflation remains a key issue the Fed needs to address, but he did not specify how monetary policy should respond. Schmid said, "I think we still have work to do on inflation," while adding, "I think the employment situation is quite good." He did not explain how these factors influence his assessment of the monetary policy outlook. Schmid had previously expressed skepticism about the Fed's rate cuts last year, when officials lowered the target interest rate range to 3.5% to 3.75%. Markets expect further rate cuts this year, but officials have provided little guidance. Schmid also discussed the Fed's balance sheet, saying internal discussions focused on understanding the appropriate level of reserves needed for the financial system. He pointed out that the large amount of mortgage-backed securities held by the Fed in its past bond-buying activities continues to depress home borrowing costs. Given the current size of the Fed's mortgage-backed securities holdings, mortgage rates "may be 75 to 100 basis points lower than they would have been."