- Goldman Sachs forecasts the U.S. Federal Reserve delivering the first rate cut in the third quarter of next year, earlier than its previous forecast of the fourth quarter, citing better inflation news.
* Gold fell about 3.3% last week. * Focus on U.S. CPI data on Tuesday. * Fed statement, Powell speech eyed for more guidance. * Speculators cut net long position in COMEX gold - CFTC. By Brijesh Patel.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Nikkei rallies 1.6%, S&P 500 futures flat. * Fed leads five central bank meetings this week. * Treasuries to be tested by $108 bln of new supply. By Wayne Cole.
Gold steadied on Monday after a sharp decline in the previous session, as investors looked forward to several major central bank meetings and U.S. inflation data release this week for further direction. FUNDAMENTALS. * Spot gold was up 0.1% at $2,005.85 per ounce as of 0038 GMT, after dropping about 3.3% last week in its worst week in more than two months.
The dollar started Monday on the front foot, with a reading on U.S. inflation and the Federal Reserve's last policy meeting for the year likely to set the tone for the week, while rising deflationary pressure in China leant on the yuan.
The dollar started Monday on the front foot, with a reading on U.S. inflation and the Federal Reserve's last policy meeting for the year likely to set the tone for the week, while rising deflationary pressure in China leant on the yuan.
Asian shares drifted lower on Monday ahead of a week packed with a quintet of central bank meetings and data on U.S. inflation that could make or break market hopes for an early and rapid fire round of rate cuts next year. An upbeat payrolls report has already seen investors scale back expectations for a March cut by the Federal Reserve, though May remains priced at a 76% chance.
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * Nikkei rallies 1%, S&P 500 futures flat. * Fed leads five central bank meetings this week. * Treasuries to be tested by $108 bln of new supply. By Wayne Cole.
* Nov CPI -0.5% y/y vs -0.2% in Oct. * Nov CPI -0.5% m/m vs -0.1% in Oct. * Nov PPI -3.0% y/y vs -2.6% in Oct. China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery.
China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. The consumer price index dropped 0.5% both from a year earlier and compared with October, data from the National Bureau of Statistics showed on Saturday.
- A look at the day ahead in Asian markets. Asian markets are set for a positive open on Monday, taking the baton from Wall Street on Friday after a surprise fall in the U.S. unemployment rate bolstered the view that an economic 'soft landing' will be achieved and recession avoided.
A look at the day ahead in Asian markets. Asian markets are set for a positive open on Monday, taking the baton from Wall Street on Friday after a surprise fall in the U.S. unemployment rate bolstered the view that an economic 'soft landing' will be achieved and recession avoided.
By Lewis Krauskopf. The Federal Reserve's last monetary policy meeting of 2023 and a U.S. inflation report in coming days should test a stock market rally that some view as stretched following weeks of gains. Bets the Fed will begin cutting interest rates sooner than expected have fueled a surge in U.S. equities, which received a tailwind from a rapid decline in Treasury yields.
Ahead of next week?s Federal Reserve?s monetary policy meeting, former Treasury Secretary Larry Summers sounded a note of caution to central bank officials. What Happened: ?The Fed is in broadly the right place of watchful waiting,? said Summers in a Bloomberg interview on Friday. The economist, therefore, advised caution.
The U.S. has witnessed?a dramatic spike in its national debt, with an increase of a staggering $240 billion in November?2023 alone. What Happened: The significant rise has sparked concerns about the nation's economic health and stability.
The U.S. has witnessed?a dramatic spike in its national debt, with an increase of a staggering $240 billion in November?2023 alone. What Happened: The significant rise has sparked concerns about the nation's economic health and stability.
Russia said on Saturday it was looking into whether its frozen gold reserves, taken after Russia invaded Ukraine, could be used to fund the climate damage fund to help developing countries.
* Nov CPI -0.5% y/y vs -0.2% in Oct. * Nov CPI -0.5% m/m vs -0.1% in Oct. * Nov PPI -3.0% y/y vs -2.6% in Oct. China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery.
China's consumer prices fell the fastest in three years in November while factory-gate deflation deepened, indicating rising deflationary pressures as weak domestic demand casts doubt over the economic recovery. The consumer price index dropped 0.5% both from a year earlier and compared with October, data from the National Bureau of Statistics showed on Saturday.
China's consumer prices extended their decline in November while factory-gate deflation deepened, as persistent weakness in demand casts doubts over the sustainability of the economic recovery. The consumer price index dropped 0.5% in November both from a year earlier and compared with October, data from the National Bureau of Statistics showed on Saturday.
The Federal Reserve's last monetary policy meeting of 2023 and a U.S. inflation report in coming days should test a stock market rally that some view as stretched following weeks of gains. Bets the Fed will begin cutting interest rates sooner than expected have fueled a surge in U.S. equities, which received a tailwind from a rapid decline in Treasury yields.
The Federal Reserve's last monetary policy meeting of 2023 and a U.S. inflation report in coming days should test a stock market rally that some view as stretched following weeks of gains. Bets the Fed will begin cutting interest rates sooner than expected have fueled a surge in U.S. equities, which received a tailwind from a rapid decline in Treasury yields.
The Federal Reserve's last monetary policy meeting of 2023 and a U.S. inflation report in coming days should test a stock market rally that some view as stretched following weeks of gains. Bets the Fed will begin cutting interest rates sooner than expected have fueled a surge in U.S. equities, which received a tailwind from a rapid decline in Treasury yields.
A gauge of global stocks rose on Friday, on pace for its sixth straight week of gains, while U.S. Treasury yields shot higher after a strong U.S. jobs report forced markets to modify expectations for the timing of rate cuts by the Federal Reserve.
* Consumer sentiment picks up in December. * U.S. job growth beats estimates in November. * Honeywell (HON) slips after buyout deal for Carrier unit. * Indexes: S&P 500 +0.41%, Nasdaq +0.45%, Dow +0.36% By Noel Randewich and Amruta Khandekar.
The new-issue calendar comes in just over $3 billion, of which is $847 million of state personal income tax revenue bonds from the Empire State Development in three competitive sales.
* TSX ends up 0.3% at 20,331.54. * For the week, the index falls 0.6% * Canadian Western Bank (CWESF) rallies on earnings beat. By Fergal Smith. Canada's main stock index edged higher on Friday as higher oil prices bolstered energy shares and investors assessed the latest U.S. jobs data for clues on the next steps by the Federal Reserve.
* Consumer sentiment picks up in December. * U.S. job growth beats estimates in November. * Honeywell (HON) slips after buyout deal for Carrier unit. By Noel Randewich and Amruta Khandekar. Dec 8 - U.S. stock indexes closed higher on Friday, with strong gains from Nvidia (NVDA) and Meta Platforms (META) after a robust U.S. jobs report fueled investor optimism about a soft landing for the economy.
Colombia's peso gained on Friday after
economic data signaled inflation pressures still remained a
concern for the local central bank, while most other Latin
American currencies rose after U.S.
The dollar rose on Friday after new data showed U.S. job growth accelerated in November and the unemployment rate dropped, pointing to underlying strength in the labor market.
U.S. Treasury yields jumped on Friday
after data showed that employers added more jobs than expected
in November, leading traders to pare back expectations that the
Federal Reserve could cut interest ...
A gauge of global stocks climbed on Friday, poised for its sixth straight week of gains, while U.S. Treasury yields rose after a strong U.S. jobs report forced markets to modify expectations for the timing of rate cuts by the Federal Reserve.
* Consumer sentiment picks up in December. * U.S. job growth beats estimates in November. * Honeywell (HON) slips after buyout deal for Carrier unit. * Indexes: S&P 500 +0.28%, Nasdaq +0.35%, Dow +0.26% By Noel Randewich and Amruta Khandekar.
The SPDR S&P 500 popped up about 0.5% higher at one point Friday, despite U.S. Bureau of Labor Statistics data showing non-farm payrolls came in higher-than-expected, which brought into question whether?the Federal Reserve will?follow through with a rate cut campaign next year.
SmartMetric, Inc. (SMME): According to a recently released report titled the 2023 Diary of Consumer Payment Choice by the Federal Reserve Bank of Atlanta, in May 2023, U.S. consumers made most of their payments with debit cards, credit cards, and cash. This press release features multimedia.
Commentary on today's US Bureau of Labor Statistics Employment Situation Report by Selcuk Eren, Senior Economist, The Conference Board Jobs report supports Fed's desired slower consumption, inflation, and labor market trifecta NEW YORK, Dec. 8, 2023 /PRNewswire/ -- Today's jobs report revealed that the labor market is cooling, consistent with the Fed's desire to lower inflation.
Euro area government bond yields rose on Friday after data showed the U.S. economy added more jobs than expected last month, putting a dampener on expectations for rate cuts from the Federal Reserve early next year. The U.S. Labor Department said non-farm payrolls rose by 199,000 in November, above forecasts for an increase of 180,000 and compared with a prior reading of 150,000.
A gauge of global stocks was higher on Friday, on track for its sixth straight week of gains, while U.S. Treasury yields rose following a strong U.S. jobs report forced markets to recalibrate the timing of rate cuts by the Federal Reserve.
* Nonfarm payrolls increase 199,000 in November. * May seen as likelier start to Fed rate cuts. * Dollar rises on jobs data, yields firm. By Anushree Ashish Mukherjee. Gold retreated back under $2,000 an ounce on Friday as the dollar and Treasury yields strengthened after traders trimmed bets for U.S. interest rate cuts to materialize by March following stronger-than-expected jobs data.
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.
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