* Euro, Aussie and Kiwi struggle at two-month lows against stronger dollar. * Yen falls deeper into intervention territory; more jawboning expected. * Traders pricing in more than 70% chance of Fed hike in December. By Rae Wee.
Goldman Sachs (GS) expects the U.S. Federal Reserve to keep rates unchanged through 2026 and delay rate cuts until 2027, it said on Friday, citing stronger economic activity and job growth after a robust payrolls report. The brokerage now expects rate cuts in June and December 2027, instead of the 25-basis-point reductions it had forecast for December 2026 and March 2027.
London copper remained near one-week lows on Monday, weighed by weaker Chinese prices and growing expectations that strong U.S. jobs data and higher oil prices could push the Federal Reserve toward rate hikes. Higher interest rates dampen prospects for industrial metals as they depend more on economic growth.
* Euro, Aussie and Kiwi struggle at two-month lows against stronger dollar. * Yen falls deeper into intervention territory; more jawboning expected. * Traders pricing in more than 70% chance of Fed hike in December. By Rae Wee.
Gold edged lower on Monday, extending
losses from the previous session on U.S. rate-hike concerns,
while renewed hostilities in the Gulf pushed oil prices higher,
fanning inflation concerns.
The dollar was perched near a two-month high on Monday after a blowout U.S. jobs report sent traders ramping up bets on a Federal Reserve rate hike this year, while the yen teetered further into the intervention zone. Moves in currencies were largely muted compared to the broader market, where a rout in technology stocks swept across Asia.
* Euro, Aussie and kiwi struggle at two-month lows against stronger dollar. * Yen falls deeper into intervention territory; more jawboning expected. * Traders pricing in more than 70% chance of Fed hike in December. By Rae Wee.
* Q1 GDP revised down on weaker capital expenditure, private consumption remains steady. * Economists expect resilience despite Middle East conflict, BOJ seen staying on policy path. * Japan vulnerable to energy shocks, risk of downturn if Strait of Hormuz remains closed. By Satoshi Sugiyama.
Japan's economy grew slower than initially estimated in the January-March quarter from the previous three months, dragged by weak capital expenditure, revised data showed on Monday. The figure released by the Cabinet Office showed the economy expanded an annualised 1.8% in the first quarter, compared with the initially estimated 2.1%. Economists' median forecast was for 1.3% growth.
* Stock indexes sink on Friday as chip stocks tumble. * IPO for Elon Musk's SpaceX expected on June 12. * CPI data on Wednesday to show latest inflation trends. * Oracle, Adobe results come as tech leads market higher. By Lewis Krauskopf.
China's central bank accumulated gold for a 19th straight month, with its reserves totalling 74.96 million fine troy ounces by the end of May, compared with 74.64 million a month earlier. The country's gold reserves were valued at $340.75 billion at the end of last month, down from $344.17 billion in April, showed data from the People's Bank of China on Sunday.
China's foreign exchange reserves rose more than expected in May, central bank data showed on Sunday, as the greenback regained broader momentum. The country's foreign exchange reserves, the world's largest, amounted to $3.442 trillion last month, beating the $3.411 trillion expected by analysts in a Reuters poll.
Wall Street's best run in three years ended unhappily on Friday, with investors taking flight from hot technology shares, safe government bonds and gold alike following a strong May jobs report that reignited fears that U.S. interest rates may be rising again by year end.
Wall Street's best run in three years ended unhappily on Friday, with investors taking flight from hot technology shares, safe government bonds and gold alike following a strong May jobs report that reignited fears that U.S. interest rates may be rising again by year end.
The Global Foreign Exchange Committee, which is responsible for maintaining the FX Global Code, said on Friday that Bernard Wee, assistant managing director at the Monetary Authority of Singapore, has been appointed its new chair, taking over from Gerardo Garcia. * The FX Global Code is a set of good market practices for the global foreign exchange market.
* Semiconductors tank, set for biggest one-day drop since last year. * S&P 500 snaps 9-week streak of Friday-to-Friday gains. * US adds 172,000 jobs in May, double analyst expectations. By Stephen Culp and Medha Singh.
* Indexes down: Dow 0.85%, S&P 1.82%, Nasdaq 3.07% * Semiconductors tank, set for biggest one-day drop since Liberation Day tariff announcement. * Nasdaq on course for largest single-day fall since October 10. * US adds 172,000 jobs in May, double analyst expectations. By Stephen Culp and Medha Singh.
* US economy added 172,000 jobs last month. * Gold headed for weekly drop. * Markets see 72% chance of rate hike in December. * Silver, platinum, palladium headed for weekly declines. By Anjana Anil.
U.S. President Donald Trump said on Friday that he would like to see lower interest rates and will leave the decision on a possible rate cut to Federal Reserve Chair Kevin Warsh during the October meeting.
India has reappointed Swaminathan Janakiraman as its central bank deputy governor for a further period of two years, a Reserve Bank of India statement said on Friday. The reappointment will be with effect from June 26, the statement said.
* Businessmen say authorities pushed economy into stagnation. * Uralchem owner likens central bank to hostile Western countries. * Sberbank CEO says some growth 'already a miracle' By Gleb Bryanski.
* Index on track to slip after two weeks of gains. * Canadian job growth beats expectations. By Tharuniyaa Lakshmi. Canada's main stock index fell more than 1% on Friday, tracking losses on Wall Street, as stronger-than-expected U.S. and domestic payrolls data fueled expectations of a tighter monetary policy.
* US economy added 172,000 jobs last month. * Gold headed for weekly drop. * Markets see 68% chance of rate hike in December. * Silver, platinum, palladium headed for weekly declines. By Anjana Anil.
Otter Tail Corp (OTTR): * OTTER TAIL - OTP ISSUES SERIES 2026B SENIOR UNSECURED NOTES FOR $70 MILLION ON JUNE 4, 2026 - SEC FILING. * OTTER TAIL - OTP AGREES TO ISSUE $100 MILLION OF 5.33% SERIES 2026A NOTES DUE MARCH 19, 2036 - SEC FILING Source text: Further company coverage:
The U.S. economy posted a third straight month of strong job gains in May, confirming the labor market was gaining traction after stumbling last year and giving the Federal Reserve more room to keep interest rates unchanged amid rising inflation due to the war in the Middle East. The closely watched employment report from the Labor Department on Friday painted an upbeat picture of the jobs market.
A blowout May jobs report is likely to further ease concerns among U.S. Federal Reserve officials about weakness in the labor market and focus attention on inflation risks, leaving incoming Chairman Kevin Warsh to manage growing support among his colleagues for possible rate hikes.
Canadian economic activity expanded at a faster pace in May and inflation pressures heated up, Ivey Purchasing Managers Index data showed on Friday. The seasonally adjusted index rose to 58.2 from 57.7 in April, marking the highest level since September. The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.
* Indexes down: Dow 0.25%, S&P 0.85%, Nasdaq 1.39% * Semiconductors slide after strong rally. * U.S. jobs increase more than expected in May. * S&P Global to not change index entry eligibility for megacap IPOs. By Medha Singh and Twesha Dikshit.
The 2026 FIFA World Cup will inject billions of dollars into host economies, driven by a massive consumption surge that will benefit sectors as varied as tourism to retail and athletic wear, according to analysts. The iconic tournament, scheduled for June 11 to July 19 and set to be the largest soccer event ever, could power consumer spending at a time when broader demand remains fragile.
The 2026 FIFA World Cup will inject billions of dollars into host economies, driven by a massive consumption surge that will benefit sectors as varied as tourism to retail and athletic wear, according to analysts. The iconic tournament, scheduled for June 11 to July 19 and set to be the largest soccer event ever, could power consumer spending at a time when broader demand remains fragile.
* May jobs report shows 172,000 jobs added, double expectations, jobless rate steady at 4.3% * Analysts say strong labor data increases likelihood of Fed rate hike by December. * 2-year Treasury yield hits 15-month high, yield curve flattens to narrowest since March. By Karen Brettell.
* US economy added 172,000 jobs last month. * Gold headed for weekly drop. * Markets see 68% chance of rate hike in December. * Silver, platinum, palladium headed for weekly declines. By Anjana Anil.
U.S. interest rate futures on Friday increased the chances that the Federal Reserve will raise interest rates by the December policy meeting after a blockbuster payrolls number for May, which sharply exceeded market expectations. The rate futures market has now priced in a 68.4% chance of Fed tightening in December, compared with 52% late on Thursday, according to CME's FedWatch.
U.S. interest rate futures on Friday increased the chances that the Federal Reserves will raise interest rates by the December policy meeting after a blockbuster payrolls number for May, which sharply exceeded market expectations. The rate futures market has now priced in a 65% chance of Fed tightening in December, compared with just 48% before the jobs report, according to LSEG estimates.
Several Chinese banks have raised dollar deposit rates in recent weeks, sources said, in a move some traders say is likely aimed at slowing the pace of yuan appreciation. At least five commercial banks, ranging from state-owned lenders to smaller joint-stock banks, have lifted the dollar deposit rates they offered to their clients, according to the sources with knowledge of the matter.
U.S. Treasury yields jumped on Friday after data showed that employers added more jobs than economists expected in May. Employers added 172,000 jobs during the month, far above the expected 85,000 in jobs gains.
U.S. stock index futures extended declines on Friday after a stronger-than-expected jobs report further fueled expectations for the Federal Reserve to hike interest rates this year. A Labor Department report showed the U.S. economy added 172,000 jobs last month, compared with economists' estimates for a rise of 85,000.
The U.S. economy posted a third straight month of strong job gains in May, confirming the labor market was gaining traction after stumbling last year and giving the Federal Reserve more room to keep interest rates unchanged amid rising inflation due to the war in the Middle East. The closely watched employment report from the Labor Department on Friday painted an upbeat picture of the job market.
U.S. stock index futures extended declines on Friday after a stronger-than-expected jobs report further fueled expectations for the Federal Reserve to hike interest rates this year. A Labor Department report showed the U.S. economy added 172,000 jobs last month, compared with economists' estimates for a rise of 85,000.
* Job growth offsets almost all losses since start of 2026. * Unemployment rate falls to its lowest level since January. * Job gains concentrated entirely in full-time employment, StatsCan said. * Youth unemployment declined 0.9 percentage points to 13.4% By Promit Mukherjee.
* Businessmen say authorities pushed economy into stagnation. * Uralchem owner likens central bank to hostile Western countries. * Sberbank CEO says some growth 'already a miracle' By Gleb Bryanski.
Nokia Oyj (NOK): * ISSUES EUR 500 MILLION SENIOR UNSECURED NOTES AND APPLIES FOR NOTES TO BE LISTED ON EURONEXT DUBLIN. * NOTES WILL MATURE ON 5 JUNE 2032, AND CARRY A FIXED ANNUAL COUPON OF 3.625% * NOTES TO BE LISTED ON REGULATED MARKET OF EURONEXT DUBLIN.
Copper prices fell to a one-week low on Friday, pressured by a rising dollar and growing inflation fears, after a stronger-than-expected U.S. jobs report fuelled bets of a rate hike by the U.S. Federal Reserve.
Wall Street's nine-week winning streak ended with a thud on Friday, as red-hot technology stocks suffered their largest daily decline since April 2025 after a hot May jobs report fueled fears of a hawkish policy pivot from the U.S. Federal Reserve.
The blowout U.S. job report released on Friday is likely to further ease concerns among Federal Reserve officials about labor market weakness and focus their attention on inflation risks, leaving new Fed Chairman Kevin Warsh to manage growing support among his colleagues and rising expectations among investors for possible interest rate hikes.
* IPO for Elon Musk's SpaceX expected on June 12. * CPI data on Wednesday to show latest inflation trends. * Oracle, Adobe results come as tech leads market higher. By Lewis Krauskopf. The long-awaited, massive SpaceX initial public offering is expected next week, a major event for the U.S. stock market, with investors wary of possible overexuberance after a stunning rally.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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