* October consumer prices rise 0.2% from a year earlier. * Producer price index extends three-year drop but moderates. * Authorities step up efforts to rein in price wars. China's producer price deflation eased in October and consumer prices returned to positive territory, data showed on Sunday, as the government steps up efforts to curb overcapacity and cut-throat competition among firms.
Chinese consumer prices rose in October while producer price deflation moderated, data from the National Bureau of Statistics showed on Sunday. The consumer price index edged up 0.2% from the same month a year earlier. On a month-on-month basis, the CPI rose 0.2%. That compared with a 0.1% rise in September and a forecast of no change.
-Grocery giants Walmart (WMT), Target (TGT) and Aldi are trumpeting their Thanksgiving meal deals as more affordable than ever. Walmart's (WMT) meal this year features nine Great Value private-label brand items out of 15, compared with nine out of 21 brands last year - a higher percentage of in-house brands. The company accomplished this by subbing in a stuffing mix and sidelining onions, celery and broth.
* Target (TGT), Walmart's (WMT) meal kits swap national brands for private labels. * Food costs rose 2.7% in September, government data shows. * NielsenIQ: 58% of shoppers worry about food price inflation. By Siddharth Cavale. Grocery giants Walmart (WMT), Target (TGT) and Aldi are trumpeting their Thanksgiving meal deals as more affordable than ever.
* * Dow and S&P 500 turn slightly positive in late afternoon. * Dollar lower against major currencies. By Caroline Valetkevitch. The Nasdaq ended slightly lower on Friday but registered its biggest weekly percentage drop since early April as investors worried about the sustainability of a rally in artificial intelligence shares, while U.S. Treasury yields inched lower.
The Nasdaq ended slightly lower on Friday but registered its biggest weekly percentage drop since early April as investors worried about the sustainability of a rally in artificial intelligence shares, while U.S. Treasury yields inched lower. Chip and other tech-related stocks have been some of the biggest losers this week, while the Nasdaq fell about 3% for the week.
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The Federal Reserve governor argued that stablecoins' increasing demand for dollar-tied assets such as Treasuries will force monetary policy decisions.
US equity indexes fell this week as a deterioration in labor market data called into question big-tech valuations, prompting investors to book profits. * The S&P 500 closed at 6,728.81 on Friday versus 6,840.20 a week ago. * Challenger, Gray & Christmas reported Thursday firms planned to cut 153,074 jobs in October, the largest for the month since 2003, up from 55,597 a year ago.
The Standard & Poor's 500 index fell 1.6% this week, led by the technology sector, as consumer sentiment dropped to a three-year low. The S&P 500 ended Friday's session at 6,728.80. This marks its first weekly loss since the week ended Oct. 10. Economic readings have been sparse for the past month as the government shutdown has delayed multiple reports.
* * Dow and S&P 500 turn slightly positive in late afternoon. * Dollar lower against major currencies. By Caroline Valetkevitch. The Nasdaq ended barely lower on Friday but registered its biggest weekly percentage drop since early April as investors worried about the sustainability of a rally in artificial intelligence shares, while U.S. Treasury yields inched lower.
* Indexes: Dow up 0.16%, S&P 500 up 0.13%, Nasdaq off 0.21% * Democrats propose a deal to end shutdown. * Tesla shareholders approve $1 trillion CEO pay package. * Microchip Technology (MCHP) falls following its disappointing sales forecast. * Expedia (EXPE) jumps after annual revenue growth forecast hike. By Stephen Culp.
Policy uncertainty, including on global trade and central bank independence, and overall geopolitical risk topped the list of financial stability concerns in a new Federal Reserve survey released on Friday. The biannual Financial Stability Report found that acute concern about trade had abated somewhat, while worry about artificial intelligence was on the rise.
* Democrats propose a deal to end shutdown. * Tesla shareholders approve $1 trillion CEO pay package. * Microchip Technology (MCHP) falls following its disappointing sales forecast. * Expedia (EXPE) jumps after annual revenue growth forecast hike. By Stephen Culp.
Unemployment rate expectations continued to worsen in the US last month, a survey by the Federal Reserve Bank of New York showed Friday. The mean probability that the jobless rate will rise in the next 12 months rose by 1.4 percentage points to 42.5% in October, marking its third consecutive monthly increase, according to the Fed branch's latest Survey of Consumer Expectations.
Federal Reserve Governor Stephen Miran on Friday said that if stablecoins end up enjoying widespread adoption it could mean the central bank needs to keep short-term interest rates lower than they would otherwise be.
* Stablecoin adoption may lower Fed's short-term rates, Miran says. * Stablecoins boost dollar's dominance, increase demand for US Treasury bills. * Miran compares stablecoin impact to past global savings affecting US rates. By Michael S. Derby.
Fed Vice Chair Philip Jefferson said that the FOMC should move cautiously as it lower the federal funds rate closer to neutral, focusing on incoming information to determine the pace meeting-by-meeting, and suggested that the current policy rate is "still somewhat restrictive."
US benchmark equity indexes were lower intraday amid continued weakness in technology shares, while a survey showed that consumer sentiment fell to the lowest level since 2022. The Nasdaq Composite was down 1.4% at 22,722.3 after midday Friday, while the S&P 500 fell 0.8% to 6,663.1. The Dow Jones Industrial Average lost 0.5% to 46,688.
Argentina's industrial output fell 0.7% in September compared to the same month last year in non-seasonally adjusted terms, data from national statistics agency INDEC showed on Friday. September industrial output in South America's second-largest economy decreased 0.1% compared to August in seasonally adjusted terms, according to the INDEC data.
US consumer sentiment fell to the weakest level in more than three years amid concerns about the government shutdown's impact on the economy, preliminary results from a University of Michigan survey showed Friday. The main sentiment index dropped for a fourth consecutive month, to 50.3 in November from 53.6 in October.
Michael S. Eisenga, Chief Executive Officer of?First American Properties, today issued a statement in response to the latest University of Michigan Consumer Sentiment Index and layoff data from Challenger, Grey & Christmas, which together point to a clear slowdown in economic activity and rising financial pressure across American households.
Borrowing costs in the euro area nudged up on Friday and German bond yields hovered around one-month highs with traders confident that the European Central Bank is likely done with its easing cycle. In earlier trade, both 10 and 30-year German bond yields rose 3-4 bps to their highest since October 10, to around 2.68% and 3.28% respectively.
Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, "it makes sense" now to proceed with caution.
Several fast-casual chains recently cited poor sales to younger adult consumers, a key cohort for the industry, in an apparent confirmation of the labor market concerns the Federal Reserve has cited as it started cutting interest rates.
Consumer expectations for one-year US inflation growth slowed to a 3.2% gain in October from a 3.4% gain in the previous month, according to a survey released by the New York Federal Reserve Bank on Friday. The median inflation expectations remained at a 3.0% gain for the three-year period for the sixth straight month and remained at a 3.0% gain for five years ahead.
The average American is growing more pessimistic about the economy, as a key sentiment index fell to its lowest level since June 2022, marking one of the bleakest readings since the survey?s inception in 1952.
Americans last month said that they expected moderating near-term inflation pressures as they continued to worry about the outlook for the job market and their personal finances, a report from the Federal Reserve Bank of New York said on Friday.
* Investors cautious amid lack of fresh economic data. * University of Michigan survey shows consumer sentiment decline. * Potential Supreme Court decision could impact Treasury issuance. By Davide Barbuscia. U.S. Treasury yields were little changed on Friday as investors locked in profits from the previous day's bond rally and looked ahead to a busy week of government debt auctions.
* NY Fed October survey finds lower near-term expected inflation. * NY Fed report says consumers more concerned about current and future finances. * NY Fed report finds concerns about job market. By Michael S. Derby.
U.S. consumer sentiment slumped to near a 3-1/2-year low in early November as households across the political spectrum worried about the economic fallout from the longest government shutdown in history, which has caused disruptions ranging from food benefit payments to grounded flights.
* Dollar lower after soft jobs data. * Markets overreacting to labor market hints, Jefferies says. * Weak Chinese trade data may spell trouble for the euro zone. * Yen still seen as the leading defensive hedge. By Hannah Lang and Stefano Rebaudo.
The University of Michigan's preliminary consumer sentiment index fell to 50.3 in November from 53.6 in October, below expectations for a smaller decrease to 53.0 in a survey compiled by Bloomberg as of 7:30 am ET.
Canada's labour market surprised to the upside in October, creating 67,000 jobs and offering "finally some good news on the Canadian economy," Desjardins economist Royce Mendes said, though he added the strength likely keeps the Bank of Canada on hold next month rather than cutting again.
Exploring the potential uses of artificial intelligence, Bundesbank President Joachim Nagel is now using the technology to check how his speeches will be perceived and whether he found the right balance on the dovish-hawkish spectrum, he said on Friday.
Exploring the potential uses of artificial intelligence, Bundesbank President Joachim Nagel is now using the technology to check how his speeches will be perceived and whether he found the right balance on the dovish-hawkish spectrum, he said on Friday.
Wall Street's main indexes opened lower on Friday, and were set for sharp weekly declines, as concerns about the economy and towering valuations in the technology sector soured sentiment.
Overall, said Andrew Grantham over at CIBC, Friday's jobs data is supportive of the Bank of Canada's thinking that interest rates are now low enough to stimulate the economy, and CIBC continues to forecast no more rate cuts from here.
Canada's job market made a surprise gain in October, reversing past declines, and its unemployment rate fell, data showed on Friday, a bright spot in a country that has suffered from U.S. President Donald Trump's tariffs. The economy added a net 66,600 jobs following 60,400 job gains in September, Statistics Canada said, helping offset most of the job losses recorded in July and August.
Employment increased by 67,000 in October, the second consecutive monthly increase, and the employment rate rose 0.2 percentage points to 60.8%, Statistics Canada said Friday. BMO Economics, for example, was looking for a 10k increase in October, building on September's 60k rise that clawed back some of the 106k net losses in the prior two months. MT Newswires does not provide investment advice.
* * Unemployment rate falls to 6.9% from 7.1% in September. * Average hourly wage of permanent employees increased by 4.0% * Youth unemployment rate drops from a 15-year high level. By Promit Mukherjee.
Deputy Governor Rhys Mendes recently admitted the Bank of Canada may have misled markets by overemphasizing CPI-median and CPI-trim as "preferred" core inflation measures, said National Bank of Canada. The BoC has shown a lack of consistency in its use of core indicators over the past five years, noted the bank.
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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