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Wall Street stocks ended lower on Tuesday while the dollar slid as the US Federal Reserve began a two-day meeting at which it is expected to cut interest rates.The S&P 500 and Nasdaq Composite rose to fresh record highs as trading got underway in New York, but equities soon slid into the red, with all three major indices finishing modestly lower.”It’s just kind of a wait-and-see move in front of the (Fed) decision so not a lot of conviction behind today’s trade,” said Briefing.com analyst Patrick O’HareThe US central bank is overwhelmingly expected to cut interest rates Wednesday for the first time in 2025, but markets are unsure what the Fed will signal about the likelihood of further cuts.Analysts see the recent string of US equity market records as the result of hopes that the US central bank will follow Wednesday’s interest rate cut with additional cuts in the months ahead in light of weakening labor market data.The rise in stocks, particularly in tech shares, has provoked some concern about them having become overvalued, but City Index and FOREX.com analyst Fawad Razaqzada said investors have largely shrugged off these worries.”So, it looks like investors are taking no chances ahead of the FOMC meeting, choosing to take profit on what has been another amazing bull run for technology stocks,” he said, referring to the Fed committee that sets interest rates.Data released on Tuesday showed retail sales in the United States rose more than analysts expected in August, even as the effects of President Donald Trump’s tariffs ripple through the US economy.Overall sales jumped by 0.6 percent on a month-on-month basis in August, beating expectations of a 0.2-percent gain, showing US consumers are not holding back despite the softening jobs market.The dollar dropped against main rivals on Tuesday, with markets pricing in a Fed cut Wednesday and a string of additional rate cuts over the next year or so.”The US Dollar is breaking down ahead of the widely-expected rate cut from the (Fed) at tomorrow’s meeting,” said a note from Forex.com’s James Stanley. “The bigger question is whether the Fed will echo the dovish expectation built in by markets.”The British pound firmed versus the dollar, with analysts increasingly expecting the Bank of England to maintain its key interest rate on Thursday and for the remainder of 2025.Official data on Tuesday showed UK unemployment remaining at a four-year high of 4.7 percent amid stubbornly high British inflation.European stock markets fell on Tuesday following a steady showing by Asia’s main indices.Shares in Germany’s Thyssenkrupp rose around eight percent in Frankfurt after India’s Jindal Steel International made an offer for the company’s steel division.- Key figures at around 2105 GMT -New York – Dow: DOWN 0.3 percent at 45,757.90 (close)New York – S&P 500: DOWN 0.1 percent at 6,606.76 (close)New York – Nasdaq Composite: DOWN 0.1 percent at 22,333.96 (close)London – FTSE 100: DOWN 0.9 percent at 9,195.66 (close) Paris – CAC 40: DOWN 1.0 percent at 7,818.22 (close)Frankfurt – DAX: DOWN 1.8 percent at 23,329.24 (close)Tokyo – Nikkei 225: UP 0.3 percent at 44,902.27 (close)Hong Kong – Hang Seng Index: FLAT at 26,438.51 (close)Shanghai – Composite: FLAT at 3,861.87 (close)Euro/dollar: UP at $1.1868 from $1.1761 on MondayPound/dollar: UP at $1.3657 from $1.3599Dollar/yen: DOWN at 146.49 yen from 147.40 yenEuro/pound: UP at 86.87 pence from 86.48 penceBrent North Sea Crude: UP 1.5 percent at $68.47 per barrelWest Texas Intermediate: UP 1.9 percent at $64.52 per barrelburs-jmb/des

US President Donald Trump on Tuesday extended a delay on enforcing a ban against TikTok until December 16, marking the fourth postponement of a law designed to force the app’s sale from its Chinese owner.The announcement, made through an executive order, came despite Trump telling reporters earlier Tuesday that the United States and China had reached a deal over a new ownership structure for the US business of the hugely popular video-sharing app.The extension follows previous delays issued in January, April and June as the administration navigates the complex legal and national security implications surrounding TikTok’s operations in the United States.The latest delay was set to expire on Wednesday, which would have enabled a US law signed in 2024 by then-president Joe Biden to force the closure of TikTok in the United States because of its Chinese ownership.The legislation was designed to address national security concerns over TikTok’s Chinese parent company ByteDance and its potential ties to the Chinese government.But Trump, whose 2024 election campaign relied heavily on social media and who has said he is fond of TikTok, put the ban on pause.The app has faced scrutiny from US officials who worry about data collection and content manipulation. TikTok has repeatedly denied sharing user data with Chinese authorities and has challenged various restrictions in federal court.”We have a deal on TikTok; I’ve reached a deal with China. I’m going to speak to President Xi (Jinping) on Friday to confirm everything,” Trump told reporters on Tuesday as he left the White House for a state visit to Britain.”We have a group of very big companies that want to buy it,” Trump said, adding that he would “hate to see value like that thrown out the window.”China also confirmed what both sides on Monday called the “framework” of a deal that would be finalized in the phone call between the two leaders.TikTok boasts almost two billion global users.According to the Wall Street Journal, under the new arrangement, TikTok’s US business would be controlled by an investor consortium including cloud giant Oracle and venture capital firm Andreessen Horowitz, with the Chinese owners keeping less than 20 percent of the US business, in accordance with the law.Both companies have very close ties to the Trump White House, and Oracle already plays a major role in TikTok’s US infrastructure.Parent company ByteDance’s existing US investors, including Susquehanna International, KKR and General Atlantic, would be part of the group owning roughly 80 percent of the new company.One of the major questions is the fate of TikTok’s powerful algorithm that helped the app become one of the world’s most popular sources of online entertainment.The preliminary deal was negotiated over two days of talks in Madrid between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.Under the executive order, the US Justice Department is prohibited from taking enforcement action not only during the extended period, but also retroactively for any conduct that occurred since the ban was originally set to come into force — on January 19, 2025 — the day before Trump’s inauguration.

India’s Jindal Steel International has made an offer for Thyssenkrupp’s steel division, the German company said Tuesday, in what would be a mega-deal for the struggling industrial titan. Once a symbol of German manufacturing might, Thyssenkrupp has fallen into crisis in recent years as it battles high manufacturing costs at home and fierce competition from Asian rivals, particularly in the traditional steel business.The sprawling conglomerate — whose businesses range from auto parts to submarine-making — has long been seeking to get rid of the loss-making steel unit which is in the midst of a painful restructuring.It confirmed in a statement that it had received a “non-binding” offer from Jindal Steel International for the purchase of Thyssenkrupp Steel Europe (TKSE).The group said it would “carefully review” the offer and pay “particular attention” to what it would mean for jobs.Jindal said it was “committed” to the production of green steel, which has been a key focus for Thyssenkrupp in recent years. Neither side mentioned a possible purchase price for the steel business, but the news sent the conglomerate’s shares up almost eight percent in Frankfurt. Juergen Kerner, workers’ representative on the Thyssenkrupp board, said the offer from “growth-oriented” Jindal Steel was “good news” for employees.”Jindal Steel has its own access to raw materials and expertise in the green transformation,” he said, adding it was important to enter into discussions quickly to “gain clarity” on important questions.The steel unit had announced in November last year it would seek to cut 11,000 jobs by 2030 — about 40 percent of its workforce. The Indian offer however sets up a potential battle with Czech billionaire Daniel Kretinsky, who last year acquired a stake in TKSE through his holding company EPCG.- Green steel -Thyssenkrupp has been seeking to navigate the long-term costs of the green transition.CEO Miguel Lopez warned in March that a new site in the western city of Duisburg, which forms the heart of its steel operations, designed to produce carbon-neutral steel might not be profitable.In a statement, Jindal Steel said it was committed to making green steel at the same time as turning a profit.”We believe in the future of green steel production in Germany and Europe,” said Narendra Misra, head of European Operations at Jindal. “Our goal is to preserve and advance the 200-year-old heritage of Thyssenkrupp.”Jindal said it would invest in further green steel production and make Thyssenkrupp “the largest low-emission steel producer in Europe,” adding that it already had a similar site in Oman which is due to start production in 2027.A spokesman for Kretinsky’s EPCG declined to comment on the Indian offer.Previously Thyssenkrupp has said discussions were ongoing with the Czech billionaire about “an equal 50/50 joint venture”.Offloading the steel business is part of a broader plan to split Thyssenkrupp into a series of standalone businesses with the aim of boosting profitability.

Wall Street stocks hit fresh record highs on Tuesday as the US Federal Reserve prepared to meet, while the dollar slid.The Fed’s two-day gathering is widely expected to conclude on Wednesday with the central bank agreeing to trim borrowing costs, with policymakers trying to shore up the world’s biggest economy.The dollar dropped against main rivals on Tuesday as lower interest rates make the greenback less attractive to investors, while safe haven gold hit yet another record high.”The Fed’s focus appears to have shelved inflation concerns for now, instead concentrating on a stalling (US) jobs market, which should lead to a 0.25-percent cut,” noted Richard Hunter, head of markets at Interactive Investor.Data released on Tuesday showed retail sales in the United States rose more than analysts expected in August, even as the effects of President Donald Trump’s tariffs ripple through the US economy.Overall sales jumped by 0.6 percent on a month-on-month basis in August, beating expectations of a 0.2-percent gain, showing US consumers are not holding back despite the softening jobs market.Separate data showed US non-fuel import prices rose by 0.4 percent in August, following no gain in July.”Today’s data won’t change the market’s expectation that the Fed will vote tomorrow to cut the target range for the fed funds rate by 25 basis points to 4.00-4.25 percent, but it will presumably temper calls for a 50-basis-point cut,” said Briefing.com analyst Patrick O’Hare.Wall Street’s S&P 500 and Nasdaq indices pushed to fresh record highs as trading got underway on Tuesday.Trump announced on Tuesday that the United States and China had reached a deal over TikTok, which Washington says must pass into US-controlled ownership.Trump said he would confirm the deal when he speaks with his Chinese counterpart Xi Jinping on Friday.The Fed meeting takes place with Trump appointee Stephen Miran as a new member of the bank’s rate-setting committee after the Senate narrowly voted to confirm his appointment late on Monday.Meanwhile, a US federal appeals court ruled that Fed Governor Lisa Cook can remain in her position while challenging her ouster from the bank — after Trump sought to fire her.Miran’s appointment comes as the president demands that the Fed cuts borrowing costs and accuses the central bank’s chief, Jerome Powell, of being unfit for the job.Expectations that US rates will be reduced over the next few months and possibly into 2026 continued to weigh on the dollar and pushed up gold to an all-time peak close to $3,700 an ounce.The British pound firmed versus the dollar.Analysts increasingly expect the Bank of England to maintain its key interest rate on Thursday and for the remainder of 2025.Official data on Tuesday showed UK unemployment remaining at a four-year high of 4.7 percent amid stubbornly high British inflation.European stock markets fell on Tuesday following a steady showing by Asia’s main indices.Shares in Germany’s Thyssenkrupp rose around eight percent in Frankfurt after India’s Jindal Steel International made an offer for the company’s steel division.- Key figures at around 1330 GMT -New York – Dow: UP less than 0.1 percent at 45,898.56 pointsNew York – S&P 500: UP 0.1 percent at 6,624.42New York – Nasdaq Composite: 0.2 percent at 22,397.50London – FTSE 100: DOWN 0.6 percent at 9,220.07 Paris – CAC 40: DOWN 0.4 percent at 7,865.57Frankfurt – DAX: DOWN 0.9 percent at 23,531.60Tokyo – Nikkei 225: UP 0.3 percent at 44,902.27 (close)Hong Kong – Hang Seng Index: FLAT at 26,438.51 (close)Shanghai – Composite: FLAT at 3,861.87 (close)Euro/dollar: UP at $1.1823 from $1.1768 on MondayPound/dollar: UP at $1.3657 from $1.3609Dollar/yen: DOWN at 146.87 yen from 147.38 yenEuro/pound: UP at 86.59 pence from 86.47 penceBrent North Sea Crude: UP 1.0 percent at $68.10 per barrelWest Texas Intermediate: UP 1.3 percent at $64.10 per barrelburs-rl/

Nepal is assessing the multi-million dollar damage from last week’s violent protests, when parliament, government offices and a newly opened Hilton Hotel were set ablaze.At least 72 people were killed in two days of anti-corruption protests, with scores more badly injured, according to official figures.”So much has been destroyed,” police spokesman Binod Ghimire told AFP, adding that it would take time to calculate the full extent of the damage, including outside the capital.Nepal’s new interim Prime Minister Sushila Karki, speaking as she began work on Sunday, described the “widespread loss of lives and property”.At the Supreme Court, officials are working under tents outside the charred building, alongside rows of burned-out vehicles, trying to salvage water-soaked documents.AFP photographers who visited the gutted parliament building said entire halls had been reduced to blackened ruins by fires that burned uncontrolled for hours on September 9.The Hotel Association of Nepal reported more than 20 hotels damaged, including the Hilton fire. Others were looted.Losses were estimated at 25 billion Nepali rupees ($177 million), with more than 2,000 workers affected. Damage to the Hilton alone was put as high as $56 million.Tourism is a key employer, the country’s fourth largest, providing jobs to more than 371,000 people, according to government figures, with more than a million visitors every year.Fire also ripped through Singha Durbar, the sprawling palace that housed the prime minister’s office and ministries.The historic building is in ruins, its white pillars streaked black.As well as government offices, police stations were attacked, and courts were burned.”All our records, evidence, files of the Supreme Court have been all destroyed,” Karki said. “Extremely important bodies of the state were targeted and attacked.”- ‘Time and resources’ -More than 12,500 prisoners who escaped during the chaos remain on the run, presenting a major security challenge.Protesters targeted symbols of the ruling elite or the wealthy. They torched the homes of politicians, car showrooms, and private offices.Even media outlets were stormed and set ablaze.The Kantipur Media Group’s building was badly damaged, although the broadcaster has returned to air from a makeshift studio and its newspaper has resumed online.Durga Khanal, 45, from the Department of Roads, said her office had been badly damaged.”I support the change they are striving for, but I cannot agree with the destruction of physical infrastructure,” she said.New minister Kulman Ghising, who has the energy, infrastructure, transport and urban development portfolios, has ordered a rapid damage assessment and a reconstruction roadmap within a week.Nepal’s chambers of commerce and industry federation said it was still collating information.”No type of infrastructure has been spared. The government, private sector, media have all endured losses,” economist Chandra Mani Adhikari told AFP.”It will take a lot of time and resources to recover and rebuild everything.”

Asian stocks advanced again Tuesday to extend another record day on Wall Street as traders locked in bets on a US interest rate cut this week, while they are also keenly eyeing flagged talks between Donald Trump and Xi Jinping.While the outcome of the Federal Reserve’s policy decision Wednesday is considered a fait accompli, there is still a lot of discussion over its plans for future meetings and its so-called “dot plot” outlook for borrowing costs.Bank boss Jerome Powell’s post-meeting comments will also be pored over for an idea about decision-makers’ thinking as the US jobs market slows and inflation remains stubbornly above target.”Jobless claims and unemployment are at their highest since 2021, and for the first time in four years, there are more job seekers than jobs,” said SPI Asset Management’s Stephen Innes. “That single ratio tells the Fed all it needs to know: rate cuts are back on the runway. “Add the housing drag — mortgage payments nearly doubled from pre-Covid levels, affordability at record lows, rents soaring — and you get a feedback loop that eats into consumption, profits, hiring, and confidence,” Innes added.Still, Neil Wilson at Saxo Markets said: “Assuming the Fed does cut… I’d still anticipate the Fed saying that the ‘extent and timing’ of further policy adjustments will be dependent on incoming data, and not on a preset course.”The meeting will take place with a Trump appointee as a new member of the bank’s board of governors and rate-setting Federal Open Market Committee.Stephen Miran, who chairs the White House Council of Economic Advisers, was cleared Monday by the Republican-majority Senate. His appointment comes as the president demands the Fed cut borrowing costs, and accusing Powell of being unfit for the job.Tokyo rose as investors returned from a long weekend, while Seoul jumped more than one percent to chalk up another record high.Sydney, Taipei, Wellington, Manila, Mumbai and Bangkok were also up, with Shanghai marginally higher and Hong Kong flat. There were losses in Singapore and Jakarta, while London, Paris and Frankfurt struggled in the morning session.The broadly positive mood came after Wall Street’s S&P 500 and Nasdaq also hit records.Expectations that US rates will be culled over the next few months and possibly into 2026 continued to weigh on the dollar against its peers and pushed up gold to a new all time peak of above $3,689.Trump said on his Truth Social network Monday that he would speak to Chinese counterpart Xi at the end of the week, stoking hopes for a further easing of tensions between the world’s economic superpowers.The US president’s message came as Washington and Beijing reached a framework deal over their TikTok dispute, which the US side said will be finalised by the two leaders on Friday.The agreement came on the second day of high-level talks between the two sides in Madrid that included discussions on the countries’ trade dispute.Trump said on social media that the talks were going “VERY WELL”.- Key figures at around 0810 GMT -Tokyo – Nikkei 225: UP 0.3 percent at 44,902.27 (close)Hong Kong – Hang Seng Index: FLAT at 26,438.51 (close)Shanghai – Composite: FLAT at 3,861.87 (close)London – FTSE 100: DOWN 0.2 percent at 9,256.33Euro/dollar: UP at $1.1797 from $1.1768 on MondayPound/dollar: UP at $1.3631 from $1.3609Dollar/yen: DOWN at 146.87 yen from 147.38 yenEuro/pound: UP at 86.54 pence from 86.47 penceWest Texas Intermediate: DOWN 0.4 percent at $63.03 per barrelBrent North Sea Crude: DOWN 0.5 percent at $67.13 per barrelNew York – Dow: UP 0.1 percent at 45,883.45 (close)

After youth protests over corruption and joblessness toppled Nepal’s parliament and left dozens dead, villagers like Santosh Sunar see their own struggles reflected in the nation’s turmoil.The 31-year-old is jobless and desperately seeking work, yet he dreads the day he finds it — knowing it will likely mean splitting his family further, leaving his daughter with his mother, with his wife already abroad. “There are no opportunities even after education,” said Santosh, who lives in the rural settlement of Pharping, on the outskirts of the capital Kathmandu.He is far from alone. A “staggering” 82 percent of Nepal’s workforce is in informal employment, one in five Nepalis aged 15–24 are jobless, according to the World Bank.With few prospects at home, where GDP per capita is only $1,447, millions of Nepalis look abroad.Remittances now account for a third of GDP, the world’s fourth-highest rate. In Pharping, nearly every second household has a relative overseas.- ‘What can we do?’ -Santosh’s wife Amrita, 22, is a waitress in Dubai. “We really miss each other,” Santosh told AFP, who has previously worked in India’s tech-hub of Bengaluru. “It’s tough being away from your wife — and tougher knowing I’d also have to leave my mother and young daughter when I find work,” he said. “But what can we do?”More than 839,000 Nepalis left the country of 30 million to work abroad last year, according to government data.Tackling endemic corruption and unemployment tops the agenda for Nepal’s new leader, 73-year-old former chief justice Sushila Karki, who was sworn in as interim prime minister on Friday.Her predecessor quit on September 9, as protesters set parliament and key government buildings on fire.Protests began a day earlier, sparked by a ban on social media, but fuelled by long-standing economic woes.At least 72 people were killed in two days of protests, with 191 still recovering in hospital, according to government figures.Santosh didn’t take part, but said he backed what the protesters had done.His mother, Maiya Sunar, 48, dreams of a time when the young don’t have to choose between food and family. “We miss living like a family,” she said. “But I also understand that the young have no choice.”- ‘No option’ -Her neighbour, Kamala Sunar, 40, also faces the prospect of living without her children nearby. Her younger daughter Diksha, 24, works as a housekeeper in Dubai.Now her older daughter, Rakshya, 27, a single mother to a two-year-old, hopes to follow in her sister’s footsteps, leaving her daughter behind.”She has repeatedly warned me against the idea, as the hours are long and the living conditions tough,” Rakshya told AFP.”But what life would I be able to give my daughter here? There is nothing here. If I toil for a few years, and save some money for her education, maybe my daughter would have a bright future.”Sitting outside their one-room house, with unplastered brick walls painted red and white, Kamala said the thought of her daughter leaving fills her with sadness. “Most of our people our age have no option but to leave,” Kamala said. Shyam Bahadur Khatri, 69, an elected village official, said that Nepal is creating ageing villages where subsistence agriculture was the only option. “There will be no young person left even to carry the dead,” he said, warning of the future.

Lower US tariffs on Japanese autos kicked in on Tuesday, as a relieved Tokyo welcomed the implementation of a trade pact negotiated with Washington. As of 1.01 pm (0401 GMT), Japanese cars entering the United States face a 15 percent tariff instead of 27.5 percent, providing manufacturers some reprieve from the hefty duties imposed by President Donald Trump earlier this year.”The government welcomes US efforts this time towards the steady implementation of the July 22 Japan-US deal,” chief government spokesman Yoshimasa Hayashi told reporters.While the outcome marked a win for Japan, the levies will still cause huge pain for the nation’s industries, with car titan Toyota telling AFP in a statement that it hoped they could be lowered further.”We hope that the environment surrounding the automotive industries of both Japan and the United States will continue to improve going forward, based on open and free trade, including further tariff reductions,” the firm said.Japanese business lobbies also said they wanted Tokyo to push on with tariff negotiations. Since returning to the presidency in January, Trump has targeted specific sectors with stiff tolls, with imported automobiles and parts hit with a 25 percent duty.This dealt a blow to Japanese automakers, who already faced a 2.5 percent tariff.For goods falling outside specifically targeted sectors, Trump has also imposed a separate 10 percent tax on imports from nearly all trading partners.That rate was hiked again in August to various higher levels for goods from dozens of economies, including the European Union and Japan.The move left Japanese products facing a 15 percent tariff that was tacked onto existing duties for many goods.While the two countries initially unveiled a trade pact in July, they appeared to diverge in their understanding of its details, such as whether the duties would generally stack on existing tariffs for certain products.Japan’s tariffs envoy Ryosei Akazawa previously told reporters that Washington was expected to revise the rule.The new US order that took effect Tuesday sees a 15 percent tariff cap instead for many products, applying retroactively to August 7.Under the terms of the US-Japan deal, Tokyo is also expected to make investments worth $550 billion in the United States, according to the White House.Top Japanese power generation company JERA said last week it had signed an initial agreement aimed at buying liquified natural gas from a huge pipeline project in Alaska.

Lower US tariffs on Japanese autos are set to take effect this week, a Commerce Department notice confirmed Monday, as Washington implements a recent trade pact it had negotiated with Tokyo.Starting Tuesday, Japanese autos entering the United States will face a 15-percent tariff instead of 27.5 percent, providing manufacturers some reprieve from President Donald Trump’s fresh duties this year.Since returning to the presidency in January, Trump has targeted specific sectors with tariffs, and imported automobiles and parts face a 25-percent duty.This dealt a blow to Japanese automakers, for whom the 25-percent duty piled atop an existing 2.5-percent tariff — bringing the overall level to 27.5 percent.For goods falling outside specifically targeted sectors, Trump has also imposed a separate 10-percent duty on imports from nearly all trading partners since returning to the presidency.In early August, he hiked the 10-percent rate to various higher levels for goods from dozens of economies, including the European Union and Japan.The move left Japanese products facing a 15-percent US tariff tacked onto existing duties for many goods.While the two countries had initially unveiled a trade pact in July, they appeared to diverge in their understanding of its details, such as whether the duties would generally stack on existing tariffs for certain products.Japan’s tariffs envoy Ryosei Akazawa previously told reporters that Washington was expected to revise the rule.The new US order taking effect Tuesday will see a 15-percent tariff cap instead for many products, applying retroactively to August 7.Under the terms of the US-Japan tariff deal, Japan is also expected to make investments worth $550 billion in the United States, according to the White House.

Stock markets mostly rose Monday as traders geared up for an expected interest rate cut by the US Federal Reserve this week.Sentiment was also boosted by news that the United States and China have reached a framework deal over their TikTok dispute, which the US side said will be finalized by President Donald Trump and Chinese leader Xi Jinping on Friday.On Wall Street the S&P 500 and Nasdaq pushed to fresh records, while Europe’s main markets ended mostly higher.Equities have enjoyed a strong run-up over recent weeks as a string of data on jobs and inflation are seen as having provided the US central bank with enough leeway to resume its rate reductions.Wednesday’s policy decision would follow figures showing the labor market has continued to soften, while prices have not spiked as much as feared in the wake of Trump’s tariff war.The Fed is expected to lower borrowing costs by 25 basis points, although some observers predict it could go to 50 points.”Overall, today’s price action suggests that there is optimism across financial markets,” said Kathleen Brooks, research director at XTB trading platform.”Stocks look to be rallying into this Fed meeting, as hopes remain high that the Fed will burnish their dovish credentials and signal multiple rate cuts in the coming months on Wednesday,” she added.The dollar slid against its major rivals, and City Index and FOREX.com analyst Fawad Razaqzada said traders will be listening for phrases from the Fed like inflation being “well anchored” or the labor market “cooling more than expected,” signaling more cuts ahead. The central banks of Canada, Britain and Japan are also due to meet this week.Prospects for defusing trade tensions between the world’s top two economies improved as US Treasury Secretary Scott Bessent said Monday that a “framework” for a deal to settle a dispute over TikTok had been reached with China.He said Trump and Xi will speak on Friday to “complete” the agreement, after Washington’s pressure to have the video-sharing app find a non-Chinese buyer or face a US ban.Bessent was speaking after a second day of talks with Chinese officials in Madrid that included discussions on the US-China trade dispute.Trump said the talks were going “VERY WELL” in a Truth Social post, adding that he would speak to Xi on Friday.Trade tensions between Beijing and Washington escalated sharply earlier this year, with tit-for-tat tariffs reaching triple digits and snarling supply chains.Both governments have since agreed to a de-escalation, with the United States imposing 30-percent duties on imports of Chinese goods and China hitting US products with a 10-percent levy. But the temporary truce expires in November.Asia equities fluctuated and Shanghai edged down after data showed further weakness in China’s economy — with growth in retail sales and industrial production much slower than forecast.Shares in Tesla closed 3.6 percent up after regulatory filings showed CEO Elon Musk bought about $1 billion worth of shares in the electric car manufacturer.- Key figures at around 2015 GMT -New York – Dow: UP 0.1 percent at 45,883.45 points (close)New York – S&P 500: UP 0.5 percent at 6,615.28 (close)New York – Nasdaq Composite: UP 0.9 percent at 22,348.75 (close)London – FTSE 100: DOWN less than 0.1 percent at 9,277.03 (close)Paris – CAC 40: UP 0.9 percent at 7,896.93 (close)Frankfurt – DAX: UP 0.2 percent at 23,748.86 (close)Tokyo – Nikkei 225: Closed for a holidayHong Kong – Hang Seng Index: UP 0.2 percent at 26,446.56 (close)Shanghai – Composite: DOWN 0.3 percent at 3,860.50 (close)Euro/dollar: UP at $1.1768 from $1.1731 on FridayPound/dollar: UP at $1.3609 from $1.3560Dollar/yen: DOWN at 147.38 yen from 147.67 yenEuro/pound: DOWN at 86.47 pence from 86.52 penceWest Texas Intermediate: UP 1.0 percent at $63.30 per barrelBrent North Sea Crude: UP 0.7 percent at $67.44 per barrelburs-rl-bys/mlm