The pace of U.S. job growth rebounded in November after a drop in the prior month, but the unemployment rate increased to 4.6%, indicating the labor market continues to show signs of softening, while expectations the Federal Reserve was unlikely to cut rates in January remained largely unchanged.
Editor's Note: This story has been updated to include the latest data and market reaction. The U.S. labor market showed clearer signs of cooling in November, as job growth broadly met already subdued expectations while the unemployment rate rose more than anticipated, intensifying concerns that the slowdown is becoming more fragile.
The U.S. dollar extended losses against major peers on Tuesday following the release of delayed economic data showing stronger-than-expected jobs growth that signals the Federal Reserve might be cautious in continuing to cut interest rates in the near term. The employment report was delayed because of the 43-day U.S. federal government shutdown.
A few more rounds of Canadian data came in on Monday the form of November existing home sales and housing starts, which further highlight the soft demand and excess supply in this interest-rate-sensitive sector -- setting the stage for more shelter disinflation, said Rosenberg Research.
US retail sales held steady in October, below the 0.1% increase expected in a survey compiled by Bloomberg and following the previous month's 0.1% gain. Excluding a 1.6% decrease in motor vehicle sales, retail sales were up 0.4% compared with an expected 0.2% gain.
Futures on the federal funds rate, which measure the cost of unsecured overnight loans between banks, on Tuesday briefly raised the probability of the Federal Reserve cutting interest rates at the next policy meeting in January after data showed U.S. unemployment rose last month.
U.S. retail sales were unexpectedly flat in October, though consumer spending appears to have remained on a solid footing at the start of the fourth quarter despite the rising cost of living that is forcing some households to scale back. The unchanged reading in retail sales reported by the Commerce Department's Census Bureau on Tuesday followed a downwardly revised 0.1% gain in September.
U.S. retail sales were unexpectedly flat in October, though consumer spending appears to have remained on a solid footing at the start of the fourth quarter despite the rising cost of living that is forcing some households to scale back. The unchanged reading in retail sales reported by the Commerce Department's Census Bureau on Tuesday followed a downwardly revised 0.1% gain in September.
The U.S. labor market showed clearer signs of cooling in November, as job growth met already subdued expectations while the unemployment rate rose more than anticipated, intensifying concerns that the slowdown is becoming more fragile.
The U.S. labor market showed clearer signs of cooling in November, as job growth broadly met already subdued expectations while the unemployment rate rose more than anticipated, intensifying concerns that the slowdown is becoming more fragile.
The November employment report showed nonfarm payrolls rose by 64,000, above the 50,000 increase expected in a survey compiled by Bloomberg, while October payrolls fell by 105,000 due to a 157,000-jobs decline in the government sector. Private payrolls rose by 69,000 in November after a 52,000 increase in October, above the increase of 50,000 private jobs expected.
Combined with softer than expected October data, this morning's numbers point to at least a modestly weaker jobs market as the economy heads into the end of the year.
U.S. job growth rebounded in November after nonfarm payrolls declined in October because of government spending cuts, but the unemployment rate was at 4.6% as the labor market weakens against the backdrop of economic uncertainty stemming from President Donald Trump's aggressive trade policy.
U.S. job growth rebounded in November after nonfarm payrolls declined in October because of government spending cuts, but the unemployment rate was at 4.6% as the labor market weakens against the backdrop of economic uncertainty stemming from President Donald Trump's aggressive trade policy.
Numerator, a data and technology company providing insights into consumer behavior, released its November 2025 Numerator Consumer Price Index with an advance read on inflation trends across everyday consumer goods. Similar to the U.S. Bureau of Economic Analysis? Personal Consumption Expenditures price index, the Numerator CPI tracks prices and changes in consumer purchases over time.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.02% and the actively traded Invesco QQQ Trust retreated 0.2% in Tuesday's premarket activity ahead of key economic data. US stock futures were also lower, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.03%, and Nasdaq futures retreating 0.2% before the start of regular trading.
ROSELAND, N.J., Dec. 16, 2025 ?For the four weeks ending November 29, 2025, U.S. private employers added an average of 16,250 jobs per week, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report?.?. This continued strengthening during the second half of November signals a potential rebound in hiring after four weeks of job losses.
Both Kevin Warsh and Kevin Hassett are qualified to lead the Federal Reserve, U.S. Treasury Secretary Scott Bessent said on Tuesday, adding that any candidate President Donald Trump picks for the job needs to have "an open mind". "They are both very, very qualified," Bessent said in an interview with Fox Business Network.
Steady tariffs, easing policies and widening market opportunities define the path for the year ahead LOS ANGELES, Dec. 16, 2025 Capital Group, one of the world's largest and most experienced investment firms, today released its 2026 Outlook, pointing to a stabilizing global economy, improving corporate earnings, and a widening opportunity set across equities and fixed income.
* Accenture (ACN) rises as MS upgrades to "overweight" * B. Riley jumps after reporting Q2 profit vs year-ago loss. * Futures off: Dow 0.01%, S&P 500 0.05%, Nasdaq 0.13% By Johann M Cherian and Shashwat Chauhan.
US equity futures were tracking in the red on Tuesday as traders await the national employment situation report for November. The S&P 500 declined 0.2%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.3% in premarket activity. The nonfarm payrolls report for November is scheduled to be released at 8:30 am ET.
The fiscal year 2026 deficit forecast of the Canadian province of Manitoba has roughly doubled, despite using up the $200 million contingency reserve set aside in the Spring Budget, said Scotiabank. The new deficit forecast for the FY26 budget balance is $1.7 billion, or 1.7% of nominal gross domestic product, compared with the Budget forecast of a $800 million deficit, or 0.8% of GDP.
Brazil's central bank said on Tuesday it has now "concluded" that holding interest rates for a very prolonged period is appropriate to ensure inflation converges to its target, pointing to a slowdown in the job market and services inflation.
Sterling has weakened alongside the US dollar at the start of this week, resulting EUR/GBP rising back up closer to the 0.8800 level after hitting a low of 0.8721 of last Tuesday, said MUFG. The bank expects sterling to weaken further as the Bank of England moves to lower rates on Thursday, stated MUFG.
* * BoJ policy decision in focus as a rate hike is priced in. * US data could reinforce expectations for a Fed pause in January. * Yuan hits 15-month high against dollar. By Stefano Rebaudo.
* Euro zone PMI weaker than expected on German industry. * UK PMI rises on budget relief. * Data points to modest growth momentum at turn of the year. * BoE is still seen cutting rates but ECB may be done. By Balazs Koranyi and Indradip Ghosh.
* Platinum rises to highest level since 2011. * US Nov non-farm payrolls, unemployment rate data due at 1330 GMT. * CPI and PCE data due later this week. By Pablo Sinha. Gold prices fell on Tuesday as investors grew cautious ahead of key U.S. jobs data due later in the day, as it is expected to shed light on future Federal Reserve interest rate cut prospects.
European stock markets were mostly declining midday Tuesday, with investors remaining cautious ahead of the US jobs data release. Asian markets declined at closing, while Wall Street futures were tracking lower hours before market open.
Sterling rose against the euro and the dollar on Tuesday after recent losses, as UK data left expectations for a Bank of England rate cut unchanged and traders shifted focus to U.S. figures due later in the session.
Wall Street's main indexes were poised for a muted open on Tuesday as investors digested data signaling a cooling U.S. economy, bolstering expectations of further policy easing by the Federal Reserve next year. Futures briefly turned positive after a Labor Department report showed job growth rebounded in November after nonfarm payrolls declined in October because of government spending cuts.
Wall Street futures were declining premarket Tuesday pending the release of key US economic data, including the delayed jobs report. In the futures, the S&P 500 was down 0.2%, the Nasdaq was 0.3% lower, and the Dow Jones was off 0.1%. Asian markets closed Tuesday in the red, while major European bourses were also tracking lower midday.
* Futures off: Dow 0.13%, S&P 500 0.19%, Nasdaq 0.31% U.S. stock index futures slipped on Tuesday as caution set in ahead of a highly anticipated jobs report that could offer insight into the health of the economy and the potential path for interest rates next year.
Brazil's central bank highlighted on Tuesday its growing confidence in the disinflation process, noting that its restrictive monetary policy has played "a decisive role in the observed disinflation."
Hungary's central bank is very likely to leave rates unchanged at 6.50% on Tuesday, said ING. The main focus will be on MNB's new forecast and forward guidance, wrote the bank in a note to clients. More interesting is the impact of the extended and expanded price shield measures, as well as the increased fiscal targets, on the outlook for 2026 and beyond, stated ING.
* UK flash composite PMI beats all Reuters poll forecasts. * Euro zone flash PMI weakened in December. * Businesses reduce staff numbers, echoing weak official data. By William Schomberg. British businesses appear to be emerging from months of worry about tax increases in finance minister Rachel Reeves' budget in late November, a closely watched survey of the private sector showed on Tuesday.
* FTSE 100 down 0.3%; FTSE 250 flat. * UK labour market shows strain, unemployment rises to 5.1% * BoE expected to cut interest rates amid economic concerns. Dec 16 - London's FTSE 100 slipped on Tuesday, weighed by losses in energy and defence stocks, while investors assessed fresh jobs data that reinforced expectations for an interest rate cut by the Bank of England later in the week.
Central European currencies retreated slightly on Tuesday, with the forint easing 0.2% ahead of a Hungarian central bank meeting, which is expected to keep rates on hold, although investors are ...
* Dollar hovers near two-month low. * U.S. employment data due on Tuesday. * Palladium climbs to 2-month peak, platinum at 14-year high. By Sarah Qureshi. Spot gold rose to hover near a seven-week peak on Monday, bolstered by a softer dollar and expectations of U.S. interest rate cuts ahead of key jobs data, while silver held below a record high hit on Friday.
* * BoJ policy decision in focus as a rate hike is priced in. * US data could reinforce expectations for a Fed pause in January. * Yuan hits 15-month high against dollar. By Stefano Rebaudo and Gregor Stuart Hunter.
Euro zone business activity growth slowed more than expected at the end of 2025 as a contraction in manufacturing deepened while the expansion in the dominant services industry eased, a survey showed. The common currency bloc remained resilient for most of the year despite higher U.S. tariffs and elevated global uncertainties.
India's private sector activity expanded at its weakest pace in 10 months in December on a slowdown in new orders and hiring slowed to a near-standstill, according to a survey of private businesses on Tuesday. HSBC's Flash India Composite Purchasing Managers' Index, compiled by S&P Global, fell to 58.9 this month from 59.7 in November, marking the lowest reading since February.
The non-bank financial sector's share of global assets grew to 51%, or $256.8 trillion, last year and expanded at double the rate of the traditional banking industry, the Financial Stability Board said on Tuesday.
Euro zone bond yields were steady on Tuesday as traders awaited the currency bloc's composite PMIs and a closely watched U.S. jobs report for a potential steer on the Federal Reserve's policy outlook. A European Central Bank policy meeting is due later in the week, with the Bank of England and Bank of Japan also set to deliver rate decisions.
* Combined non-farm payrolls for October and November due Euro steady as markets weigh prospects for Ukraine peace deal Greenback weakest against Chinese yuan since October 2024. By Gregor Stuart Hunter.
* Fed Governor Stephen Miran says inflation closer to 2% target. * US Nov non-farm payrolls, unemployment rate data due at 1330 GMT. * US weekly jobless claims, PCE data due on Friday. By Ishaan Arora and Sherin Elizabeth Varghese.
* Investors await US jobs and inflation data for rate-cut clues. * Bitcoin at two-week lows as risk-off mood takes hold. * Focus on BoE, ECB, BOJ policy decisions this week. By Ankur Banerjee.
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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