August 25, 2025
United States:
US Stock Rally Loses Steam After Fed Rate Cut Enthusiasm Fades
US stocks drifted lower Monday, after last week’s euphoria over the potential for interest-rate cuts faded as traders turned their attention back to tariffs and corporate America’s profit outlook.
The S&P 500 Index was down 0.2% as of 9:35 a.m. in New York, after leaping 1.5% on Friday for its first gain in six sessions to trade just shy of records. The Nasdaq 100 Index fell 0.3% ahead of earnings from artificial-intelligence darling Nvidia Corp. on Wednesday.
Europe:
German Business Outlook Unexpectedly Hits Highest Since 2022
Confidence among German firms unexpectedly improved to the highest since 2022 after the European Union struck a trade deal with the US, despite some criticizing higher tariffs.
An expectations index by the Ifo institute rose to 91.6 in August from a revised 90.8 in July. Economists in a Bloomberg survey had expected a decline.
Asia:
PBOC Strengthens Yuan Fixing by Most Since January After Powell
China strengthened its yuan fixing by the most since January after the dollar slumped in the wake of Federal Reserve Chair Jerome Powell’s commentary at Jackson Hole.
The People’s Bank of China set its daily reference rate for the local currency at 7.1161 per dollar, versus Friday’s level of 7.1321. Monday’s fixing was the strongest since November.
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