* Tesla slips after its China-made EV sales drop in Nov. * South Korean firms fall. By Caroline Valetkevitch. The S&P 500 and Nasdaq ended higher on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data. Marketwatchers also digested reassuring comments from Federal Reserve policymakers.
* Markets expected to move on Powell's comments on Wednesday, new labor market data. * JOLTs report showed moderate increase in job openings. * ADP National Employment data due on Wednesday and nonfarm payrolls on Friday. * Turmoil in South Korea increased demand for low-risk assets, including treasuries. * By Tatiana Bautzer.
* Tesla slips after its China-made EV sales drop in Nov. * South Korean firms fall after president declares martial law. * Indexes: Dow down 0.1%, S&P 500 up 0.04%, Nasdaq up 0.2% By Caroline Valetkevitch. NEW YORK, Dec 3 - The Nasdaq and S&P 500 edged higher on Tuesday as tech-related shares extended recent gains and investors digested reassuring comments from Federal Reserve policymakers.
Fitch: * FITCH: SECTOR OUTLOOK FOR U.S. BANKS REVISED TO NEUTRAL IN 2025 FROM DETERIORATING IN 2024. * FITCH: U.S. BANKS WILL BENEFIT FROM A MORE SUPPORTIVE OPERATING ENVIRONMENT IN 2025 Source text:
U.S. job openings increased solidly in October while layoffs dropped by the most in 1-1/2 years, suggesting the labor market continued to slow in an orderly fashion. But the Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday also showed employers hesitant to hire more workers.
- U.S. central bankers on Tuesday said they continue to believe inflation is heading down to their 2% target and signaled support for further interest rate cuts ahead, but none pushed strongly for or against doing so when they next meet to set rates in two weeks.
* Tesla slips after its China-made EV sales drop in Nov. * Job openings rise to 7.744 mln in Oct, beating estimates. * South Korean firms fall after president declares martial law. * Indexes: Dow down 0.4%, S&P 500 off 0.1%, Nasdaq up 0.1% By Shashwat Chauhan and Purvi Agarwal.
* Job openings increase 372,000 to 7.744 million in October. * Hires decrease 269,000 to 5.313 million. * Layoffs drop 169,000, the most since April 2023. * Resignations increase 228,000 to 3.326 million. By Lucia Mutikani.
Longer-dated U.S. Treasury yields rose on Tuesday after labor market data showed faster than expected job creation, but demand kept high as investors seeking safe haven from geopolitical uncertainty in Asia bought Treasuries. U.S. job openings increased moderately in October while layoffs declined, suggesting the labor market continued to slow in an orderly fashion.
* Focus on Friday's non-farm payrolls report. * Benchmark US 10-year Treasury yields drop to late Oct lows. * JP Morgan forecasts gold climbing toward $3,000/oz in 2025. By Sherin Elizabeth Varghese.
* Tesla slips after its China-made EV sales drop in Nov. * Job openings rise to 7.744 mln in Oct, beating estimates. * South Korean firms fall after president declares martial law. * Indexes: Dow down 0.15%, S&P 500 off 0.03%, Nasdaq up 0.12% By Shashwat Chauhan and Purvi Agarwal.
U.S. job openings increased solidly in October while layoffs dropped by the most in 1-1/2 years, suggesting the labor market continued to slow in an orderly fashion. But the Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday also showed employers hesitant to hire more workers.
A deputy governor of Mexico's central bank said she sees a difficult path to increasing the pace of interest rate cuts in Latin America's No. 2 economy due to lingering uncertainty, according to a report published by Bloomberg on Tuesday. Deputy Governor Irene Espinosa told the outlet that "greater uncertainty" makes boosting the pace of cuts to the key lending rate set by the bank more difficult.
Wall Street opened a touch lower on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials.
A deputy governor of Mexico's central bank sees a difficult path to increasing the pace of interest rate cuts due to uncertainty, according to a report published by Bloomberg on Tuesday. Deputy Governor Irene Espinosa told the outlet that "greater uncertainty" makes boosting the pace of cuts to the key lending rate set by the bank more difficult and that she favors a gradual approach.
* Tesla slips after its China-made EV sales drop in Nov. * October JOLTS data due at 10 a.m. ET. * Futures: Dow down 0.02%, S&P 500 up 0.04%, Nasdaq down 0.05% By Shashwat Chauhan and Purvi Agarwal.
* Tesla slips after its China-made EV sales drop in Nov. * October JOLTS data due at 10 a.m. ET. * Futures: Dow down 0.03%, S&P 500 up 0.03%, Nasdaq down 0.05% By Shashwat Chauhan and Purvi Agarwal.
* GDP rose 0.9% quarter-on-quarter, 4.0% year-on-year in Q3. * Finance ministry to bump up current 3.3% annual growth forecast. * Economic strength points to extended interest rate tightening. By Marcela Ayres.
Brazil's gross domestic product grew by 0.9% in the third quarter, data from government statistics agency IBGE showed on Tuesday, matching the forecast in a Reuters poll of economists. On an annual basis, GDP rose 4.0%, slightly above the projected 3.9% expansion.
Monetary easing by central banks across developed and emerging economies trundled along in November with markets warily gearing up for a new year that could bring tectonic shifts to the global policy making backdrop. Four of the six central banks overseeing the 10 most heavily traded currencies that held meetings in November lowered their lending benchmarks.
Sterling gained against the dollar on Tuesday after dovish comments from Federal Reserve Governor Christopher Waller and was steady against the euro as political turmoil in France kept investors on edge. The pound was last up 0.16% at $1.2678, recovering some of Monday's 0.7% loss.
The S&P 500 and Nasdaq eked out record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data. The Dow finished slightly lower. Marketwatchers also digested reassuring comments from Federal Reserve policymakers. They stayed away from signaling whether they would support another interest rate cut later this month.
* Futures: Dow down 0.01%, S&P 500 up 0.04%, Nasdaq down 0.02% U.S. stock index futures were muted on Tuesday after the S&P and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials.
* Fed likely to deliver 25bp rate cut in Dec -UBS. * US job openings data due at 1500 GMT. * Fed's Waller says inclined to cut rates in December. * Benchmark US 10-year Treasury yields near late Oct lows. By Daksh Grover.
Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices.
Swiss inflation rose less than expected in November, official data showed on Tuesday, boosting bets for a bigger interest rate cut by the Swiss National Bank next week. Swiss annual inflation advanced to 0.7% in November from 0.6% the previous month, according to figures from the Federal Statistics Office.
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Japanese government bond yields hovered in a tight range on Tuesday, as an auction for 10-year bonds made few waves amid heightened expectations that the Bank of Japan will raise interest rates this month. The 10-year JGB yield rose to as high as 1.085% but was last flat at 1.075% after the auction, while 10-year JGB futures rose 0.05 points to 142.87 yen.
Gold prices edged higher on Tuesday, supported by growing expectations of a U.S. interest rate cut this month, as focus shifted to upcoming economic data for additional insights. FUNDAMENTALS. * Spot gold was up 0.1% at $2,642.42 per ounce, as of 0103 GMT, after falling as much as 1% on Monday.
Federal Reserve Bank of New York President John Williams said on Monday that while it was clear interest rates are likely go down over time, he could not yet say what the central bank's next move will be.
* Fed's Waller says inclined to cut rates in December meeting. * Chances of 25-bp easing rises after Waller's remarks. * Focus on raft of U.S. employment data this week. By Tatiana Bautzer.
Federal Reserve Bank of New York President John Williams said on Monday the U.S. central bank is likely to lower its interest rate target further over time as inflation pressures continue to cool.
Federal Reserve Bank of New York President John Williams said on Monday the U.S. central bank is likely to lower its interest rate target further over time as inflation pressures continue to cool.
* Brent and WTI rose more than 1% earlier in the session. * China's factory activity expands in November. * Atlanta Fed President says open mind about whether to cut rates. * OPEC+ to discuss oil policy on Dec. 5. By Arathy Somasekhar.
Federal Reserve Governor Christopher Waller, whose views are often a bellwether for U.S. monetary policy, said on Monday that with inflation still forecast to fall to 2% he is inclined "at present" to support another interest rate cut later this month.
- Atlanta Federal Reserve President Raphael Bostic said on Monday he has an open mind about whether to cut interest rates again at the Fed's December meeting, with upcoming data on jobs important in shaping the decision. "There is a lot of uncertainty," Bostic said in comments to reporters.
* Manufacturing PMI increases to 48.4 in November. * New orders gauge above 50 for the first time in eight months. * Potential tariffs on Chinese imports worry manufacturers. * Construction spending increases 0.4% in October. By Lucia Mutikani.
U.S. Treasury yields rose on Monday as data showed manufacturing activity improved in November, with orders growing for the first time in eight months and factories facing significantly lower prices for inputs. The yield on the benchmark U.S. 10-year Treasury note rose 2.7 basis points to 4.221%, paring back an earlier sharper rise.
* Dollar up 0.7%, set for it best day in nearly 4 weeks. * Expect choppy, consolidative gold market into year-end - analyst. * Most brokerages see 25-bps rate cut in December. * US ADP employment report, non-farm payrolls due this week. By Sherin Elizabeth Varghese.
U.S. construction spending increased more than expected in October, boosted by single-family homebuilding. The Commerce Department's Census Bureau said on Monday construction spending rose 0.4% after an unrevised 0.1% gain in September.
U.S. construction spending increased more than expected in October, boosted by single-family homebuilding. The Commerce Department's Census Bureau said on Monday construction spending rose 0.4% after an unrevised 0.1% gain in September.
Brazil's incoming central bank chief said on Monday that the current scenario points to "higher interest rates for longer," while also emphasizing continued exchange rate policy focused on intervening only during times of dysfunction.
* Manufacturing PMI increases to 48.4 in November. * New orders gauge rises above 50 for the first time in eight months. By Lucia Mutikani. U.S. manufacturing activity improved in November, with orders growing for the first time in eight months and factories facing significantly lower prices for inputs.
Canadian manufacturing activity increased at the fastest pace in 21 months in November as the Bank of Canada's interest-rate cutting campaign boosted domestic demand and despite port strikes that worsened delivery delays, data showed on Monday.
Brazil's incoming central bank chief Gabriel Galipolo said on Monday that the current scenario points to "higher interest rates for longer." Speaking at an event hosted by XP, he said it seemed "logical" for an economy that has been showing greater dynamism and tightness than anticipated, alongside a weaker domestic currency, to "require a more contractionary monetary policy."
Morocco's first futures contracts will be based on the MASI 20 index, which tracks the top 20 firms by market capitalisation, the North African country's bourse regulator said on Monday. The AMMC, together with the central bank and the finance ministry, said last month that the market was ready to launch a derivatives market and a clearing house starting with futures.
Chile's IMACEC economic activity index was up 2.3% in October compared with a year earlier, the central bank said on Monday, slightly below the 2.5% growth expected by economists polled by Reuters. Economic activity in the world's largest copper producer rose 0.4% compared with the previous month, the central bank added.
For much of the past 17 years the Federal Reserve has been the central player in U.S. economic policy, throwing multi-trillion-dollar safety nets under the financial system, offering nearly a decade of ultra-cheap money, jumping redlines during the COVID-19 pandemic, and delving more into areas like equity and climate change.
* Futures: Dow down 0.1%, S&P 500 and Nasdaq down 0.2% each. U.S. stock index futures started December lower after recording robust gains last month, with focus on a slate of economic data later this week, including a jobs report, to gauge the Federal Reserve's interest rate path.
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.