- Porzingis and Morant make triumphant NBA returns
- Hong Kong top court affirms housing, inheritance rights for same-sex couples
- Philippines, China clashes trigger money-making disinformation
- Most Asian markets drop, dollar gains as Trump fires tariff warning
- England 'not quivering' ahead of New Zealand Test challenge
- Bethell to bat at three on England Test debut against New Zealand
- Trump vows big tariffs on Mexico, Canada and China
- New Zealand and England to play for Crowe-Thorpe Trophy
- Scheffler, Schauffele and McIlroy up for PGA Player of the Year
- Trump to face less internal pushback in new term: ex-commerce chief
- Extreme weather threatens Canada's hydropower future
- More than 34,000 register as candidates for Mexico judges' election
- Australia ban cycling's Richardson for life after UK defection
- Internal displacement in Africa triples in 15 years: monitor
- 'Remarkable global progress': HIV cases and deaths declining
- Social media firms raise 'serious concerns' over Australian U-16 ban
- Tiger to skip Hero World Challenge after back surgery
- MLB shifts six 2025 Rays games to avoid weather issues
- US women's keeper Naeher retiring after Europe matches
- West Ham stun Newcastle to ease pressure on Lopetegui
- Arteta calls on Arsenal to show 'ruthless' streak on Champions League travels
- Israel bids emotional farewell to rabbi killed in UAE
- Sonar image was rock formation, not Amelia Earhart plane: explorer
- Tottenham goalkeeper Vicario has ankle surgery
- Green light for Cadillac to join Formula One grid in 2026
- Israel to decide on ceasefire as US says deal 'close'
- California vows to step in if Trump kills US EV tax credit
- Special counsel asks judge to dismiss subversion case against Trump
- Ronaldo double takes Al Nassr to brink of Asian Champions League quarters
- Brazil minister says supports meat supplier 'boycott' of Carrefour
- Steelmaker ArcelorMittal to close two plants in France: unions
- Macy's says employee hid up to $154 mn in costs over 3 years
- EU grocery shoppers 'fooled' by 'maze' of food labels: audit
- Awaiting Commerzbank, Italy's UniCredit bids for Italian rival
- Alonso jokes about playing return amid Leverkusen injury woes
- G7 ministers discuss ceasefire efforts in Mideast
- Bayern need to win all remaining Champions League games, says Kane
- Indian cricketer, 13, youngest to be sold in IPL history
- Beating Man City eases pressure for Arsenal game: new Sporting coach
- Argentine court hears bid to end rape case against French rugby players
- Egypt says 17 missing after Red Sea tourist boat capsizes
- Dortmund boss calls for member vote on club's arms sponsorship deal
- Chanel family matriarch dies aged 99: company
- US boss Hayes says Chelsea stress made her 'unwell'
- China's Ding beats 'nervous' Gukesh in world chess opener
- Man City can still do 'very good things' despite slump, says Guardiola
- 'After Mazan': France unveils new measures to combat violence against women
- Scholz named party's top candidate for German elections
- Flick says Barca must eliminate mistakes after stumble
- British business group hits out at Labour's tax hikes
US stocks wobble as traders weigh future Fed cuts
US stocks wobbled on Thursday as investors waited for more clues about future interest rate cuts and worries over Donald Trump's presidency clouded optimism.
Bitcoin dipped below $90,000 level after striking a record of $93,462 on Wednesday.
Observers are expecting it to soon top $100,000 following pro-crypto pledges from the US president-elect.
Investors were looking to a speech later Thursday by US Federal Reserve Chairman Jerome Powell for indications about future interest rate cuts.
"Powell will likely face questions about the latest inflation data and the potential effects of protectionist policies under Trump, on the central's monetary policy in 2025," said City Index and FOREX.com analyst Fawad Razaqzada.
"If Powell refrains from directly linking these factors to Fed policy, it might dampen market worries (and) reduce rate hike expectations," he added.
US consumer inflation data released on Wednesday showed that consumer prices rose in line with forecasts, cementing expectations that the Federal Reserve will cut interest rates again next month.
But with Trump having vowed to impose across-the-board tariffs that could boost inflation and give the Fed reason to pause cutting interest rates.
"As things stand, the market is cautiously pricing in just 50 basis points of easing by mid-2025 -- a marked revision from before the US election" when it expected more cuts, added Razaqzada.
"The market, though, has a tendency of making its own mind up, and any dovish Powell remarks might fall on deaf ears."
Meanwhile data released on Thursday showed upticks in wholesale price inflation, which could also give the Fed reason to reevaluate the need to cut rates further.
"The higher interest rates, I think, are kind of acting as a headwind of sorts for the equity market right now," said Patrick O'Hare of Briefing.com.
Wall Street's main indices opened with modest gains, but then dipped lower and subsequently bobbed around.
European markets fared better, with updated data confirming the eurozone recorded 0.4 percent growth in the third quarter.
Tokyo, Hong Kong and Shanghai all fell on Thursday as concerns over another possible China-US trade war, and Beijing's economic woes, weighed on Asian markets.
The dollar advanced against its peers on the prospect that Trump's policies will keep the Fed from cutting interest rates as much as initially expected, but then turned lower against the euro and the pound.
The greenback topped 155 yen for the first time since July, putting focus on Japanese authorities who have said they are prepared to support their unit if they considered moves to be one-sided or speculative.
In company news, shares in Disney jumped more than 11 percent before paring gains after the entertainment giant beat expectations in its latest quarterly earnings.
While its net profits dipped, its earnings per share excluding exceptional items beat analyst expectations, as did a six percent increase in sales.
Shares in Meta were barely dented after the EU fined it almost 800 million euros ($840 million) on Thursday for breaching antitrust rules by giving users of its Facebook social network automatic access to classified ads service Facebook Marketplace. Meta said it would appeal the decision.
Shares in struggling British fashion house Burberry rose around 20 percent on London's FTSE 250 as the group announced cost-cutting plans after posting a loss.
- Key figures around 1630 GMT -
New York - Dow: FLAT at 43,954.02 points
New York - S&P 500: DOWN 0.1 percent at 5,979.15
New York - Nasdaq Composite: DOWN 0.2 percent at 19,200.47
London - FTSE 100: UP 0.5 percent at 8,071 (close)
Paris - CAC 40: UP 1.3 percent at 7,311.80 (close)
Frankfurt - DAX: UP 1.4 percent at 19,263.70 (close)
Tokyo - Nikkei 225: DOWN 0.5 percent at 38,535.70 (close)
Hong Kong - Hang Seng Index: DOWN 2.0 percent at 19,435.81 (close)
Shanghai - Composite: DOWN 1.7 percent at 3,379.84 (close)
Dollar/yen: UP at 155.79 yen from 155.51 yen on Wednesday
Euro/dollar: UP at $1.0578 from $1.0564
Pound/dollar: UP at $1.2713 from $1.2710
Euro/pound: UP at 83.21 pence from 83.11 pence
West Texas Intermediate: UP 0.5 percent at $68.77 per barrel
Brent North Sea Crude: UP 0.5 percent at $72.64 per barrel
burs-rl/giv
Ferreira--PC