On Friday, the University of Michigan released the preliminary October Survey of Consumers. Key Highlights: Surveys of Consumers Director Joanne Hsu noted that consumer sentiment dipped slightly in October, slipping by just 1.2 index points, which falls within the margin of error, after two consecutive months of improvement.
The British economy expanded in August, an improvement that is unlikely to change sentiment about the Labour Party's economic stewardship. ? GDP grew by 0.2% in August after flatlining in June and July, the Office for National Statistics said. "All main sectors of the economy grew in August," ONS director of economic statistics Liz McKeown said today.
By RoboForex Analytical Department Gold prices recovered, reaching 2,644.00 USD per troy ounce on Friday, as investors navigated mixed signals from recent US economic data. Recent inflation reports further complicated the market.
Price pressures on U.S. producers jumped unexpectedly in September, mirroring a similar trend observed in consumer inflation data reported a day earlier. The Producer Price Index rose more sharply than anticipated in September, and the August reading was upwardly revised.
A stronger-than-expected September Consumer Price Index report has not shifted the overall market narrative of continued disinflation, nor has it altered expectations for a potential interest rate cut in November. Headline inflation came in slightly above forecasts. The Consumer Price Index rose by 2.4% in September from a year earlier.
Today, we got the September Consumer Price Index report which showed an overall increase of 2.4% for the last year and 0.2% for the month. The all-items CPI is down substantially but the Core rose for the first time in over a year. This fell from 2.8% to 2.4% in the last month. Food: Food inflation came in at 2.4%, down 0.1% from last month.
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Editor?s note: This story has been updated with additional details. The U.S. inflation rate extended its decline in September for the sixth consecutive month, though the pace was slower than economists had anticipated, and core inflation saw an unexpected rise.
The U.S. inflation rate extended its decline in September for the sixth consecutive month, though the pace was slower than economists had anticipated, and core inflation saw an unexpected rise.
Minutes from the September Federal Open Market Committee meeting released Wednesday show that a back-and-forth likely took place among members about whether to cut interest rates by 25 basis points or the 50-basis-point reduction, with the latter ultimately chosen.
Professional crypto trader Justin Bennett shared his insights on Bitcoin's market volatility and future predictions ahead of the FOMC minutes meeting. What Happened: Bennett took to social media to highlight that the meeting minutes are not a Fed rate decision, which is why does not expect as much volatility as typically seen from a Fed rate decision.
The September Consumer Price Index report, set to be released on Thursday, Oct. 10 at 8:30 a.m. ET, will play a pivotal role in shaping the Federal Reserve's next move ahead of its Nov. 7 meeting. Economists anticipate further cooling inflation, largely driven by falling energy prices.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 200 points on Tuesday. The Dow traded up 0.17% to 42,026.90 while the NASDAQ rose 1.15% to 18,130.79. The S&P 500 also rose, gaining, 0.75% to 5,738.42. Check This Out: Top 2 Energy Stocks You May Want To Dump In Q4 Leading and Lagging SectorsInformation technology shares jumped by 1.4% on Tuesday.
In a recent statement, Federal Reserve Governor Adriana Kugler expressed her support for additional interest rate cuts, contingent on continued decreases in inflation. What Happened: Kugler emphasized the importance of balancing inflation control with employment growth, aligning with the Federal Open Market Committee?s dual mandate of price stability and maximum employment.
John Williams, President of the New York Federal Reserve, expressed confidence in the Federal Reserve?s strategy to achieve a soft landing for the U.S. economy. What Happened: Williams highlighted the importance of the ?very good? jobs report for September, which underscored the economy?s resilience.
Stronger-than-expected U.S. economic data and surging oil prices are reshaping market expectations for the Federal Reserve?s November meeting. Traders, who initially expected an aggressive 50-basis-point rate cut, are now opting on a smaller 25-basis-point move, with odds of a potential pause in the Fed?s easing cycle surging sharply in recent hours.
Last Friday's US economic data showed a big beat across the board. Let's take things from the beginning. Perhaps the Fed is forecasting an upturn in unemployment and a further fall in inflation & GDP, and they ? uncharacteristically ? are trying to be proactive rather than reactive. Headline employment numbers might look good on paper, but what happens when we dig deeper into the details?
In a recent development, David Roche, a strategist at Quantum Strategy, has raised alarms over the Federal Reserve?s decision to slash interest rates by 50 basis points. What Happened: Roche argues that the rate cut gives a misleading impression of economic weakness, despite strong employment data, CNBC reported on Monday.
The past week has been a rollercoaster ride for the U.S. economy. Let?s dive into the top stories of the week. US Economy Adds 254,000 New Jobs In September The U.S. labor market showed signs of robust health as it added 254,000 nonfarm payroll jobs in September, a significant improvement over August?s revised figure of 159,000. Read the full article here.
The September jobs report came in hotter than predicted, with U.S. payrolls increasing by 254,000 and the unemployment rate surprisingly slipping to 4.1%. Wage growth exceeded expectations, rising 0.4% month-over-month and 4% year-over-year. These robust numbers have sparked a fresh debate among economists about the Federal Reserve's next move.
By RoboForex Analytical Department The EUR/USD pair has descended to 1.1027, marking its lowest point in three weeks. Recent data revealed that the Eurozone's annual Consumer Price Index decreased to 1.8% in September, the lowest since April 2021 and below the forecasted 1.9%. Moreover, core inflation dipped to 2.7% year-on-year from 2.8%, contrary to expectations of remaining steady.
Editor?s note: This story has been updated with additional details. Signs of a healthy labor market emerged from the official September jobs report, as the U.S. economy added 254,000 nonfarm payroll jobs last month, reflecting a strong improvement over August's upwardly revised figure of 159,000.
Signs of a healthy labor market emerged from the official September jobs report, as the U.S. economy added 254,000 nonfarm payroll jobs last month, reflecting a strong improvement over August's upwardly revised figure of 159,000. This pace of job creation sharply exceeded economist forecasts, offering fresh optimism for the labor market's resilience.
China has made the bold move of copiously stimulating the economy and two economists weighed in on the development in two separate opinion pieces contributed to Project Syndicate. The Largesse: The Chinese central bank announced a 50 basis-point cut to its mandatory reserve ratio and cut its benchmark policy rate by 0.2 percentage points. Delayed Response?
Data on the U.S. labor market could signal how aggressive the Federal Reserve will be when deciding if they should cut interest rates in November, after already announcing a rate cut of 50 basis points in September. The Bureau of Labor Statistics is set to release the official September jobs report on Friday at 8:30 a.m. ET.
Data on the U.S. labor market could signal how aggressive the Federal Reserve will be when deciding if they should cut interest rates in November, after already announcing a rate cut of 50 basis points in September. The Bureau of Labor Statistics is set to release the official September jobs report on Friday at 8:30 a.m. ET.
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Weekly Initial Jobless Claims for the week ending September 28 were 225,000, an increase of 6,000 from the previous week?s revised level, according to data the Labor Department?released on Thursday. The number is above the average economist estimate of 221,000, as per data from Benzinga Pro. The previous week?s level was revised higher by 1,000 from 218,000 to 219,000.
With Friday?s nonfarm payroll report on the horizon, the labor market is expected to show a modest increase of 140,000 jobs, slightly down from August's 142,000. Wednesday?s ADP National Employment Report for September signaled some resilience.
Geopolitical risks may be the biggest threat to global markets, the Bank of England warned on Wednesday. "Global vulnerabilities remain material, as does uncertainty around the geopolitical environment," the BoE said. The BoE published its Financial Policy Committee Record a day after Iran launched at least 180 ballistic missiles at Israel.
Editor?s Note: This article has been updated to clarify the status of job openings in August. Economic data released Tuesday brought the latest insights for the U.S. manufacturing sector, drawing attention to how the Federal Reserve may respond to these developments.
Economic data released Tuesday brought the latest insights for the U.S. manufacturing sector, drawing attention to how the Federal Reserve may respond to these developments. Meanwhile, U.S. job openings data for August released on Tuesday indicated that openings remained steady, with hires and separations showing little change.
Economic data released Tuesday brought the latest insights for the U.S. manufacturing sector, drawing attention to how the Federal Reserve may respond to these developments. Meanwhile, U.S. job openings data for August released on Tuesday indicated that openings remained steady, with hires and separations showing little change.
Stocks slid Monday after Federal Reserve Chairman Jerome Powell said that future interest rate cuts would depend on economic data during his appearance at the National Association of Business Economics.
Baidu Inc (BIDU) shares are trading higher by 15.0% to $106.29 over the trailing week, driven by investor enthusiasm over the latest economic stimulus measures implemented by the People's Bank of China and a surprisingly strong Purchasing Managers' Index report.
Keith Lerner, the Co-Chief Investment Officer at Truist Wealth, has a word of advice for investors: ?Don?t fight the trend and don?t fight the Fed. #8221; What Happened: Lerner emphasized that the global markets are currently reaching 52-week highs due to the actions of central banks and the Chinese stimulus, CNBC reported on Monday.
Federal Reserve Chair Jerome Powell is scheduled to speak on Monday amid growing concerns among economists about potential policy mistakes and 2024 election risks.
In the face of a contentious U.S. presidential election, changing Federal Reserve policies, and potential recession threats, U.S. stocks have shown resilience and growth. What Happened: The S&P 500 Index has recorded its third successive week of gains, with a 5.1% increase in the third quarter, marking its best start to a year since 1997.
Arthur Hayes, co-founder of BitMEX, highlighted the contrast between the vibrant crypto community and traditional finance while predicting a "volatility supercycle" in his latest essay. What Happened: Hayes admitted that his short-term predictions are often inaccurate, but the overarching thesis of central bank intervention remains valid.
European inflation reported in France and Spain slowed in September below the European Central Bank's target rate of 2%. This has raised chances of an ECB interest rate cut at its meeting next month. France's Harmonized Consumer Price Index slowed to 1.5% in September, from 2.2% in August, according to INSEE data. The consensus for September was 1.9%, according to TradingView.
The Federal Reserve?s preferred measure of inflation in August came in below expectations, showing a decline from July?s inflation rate. According to government data released Friday, the Personal Consumption Expenditures Price Index increased by 2.2% in August compared to the same period last year.
The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, but the index remained in the ?Greed? zone on Thursday. U.S. stocks settled higher on Thursday, with the S&P 500 surging to a fresh record high level during the session.
U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 200 points on Thursday. The Dow traded up 0.47% to 42,110.56 while the NASDAQ rose 0.19% to 18,117.40. The S&P 500 also rose, gaining, 0.21% to 5,734.09. Check This Out: How To Earn $500 A Month From Costco Stock Ahead Of Q4 Earnings Leading and Lagging SectorsMaterials shares jumped by 1.8% on Thursday.
NIO Inc (NIO) ? ADR has seen its stock stock surge by over 5.49% to $5.97 since Tuesday?s open following the announcement of a significant monetary stimulus from the People?s Bank of China. The PBoC this week slashed the reserve requirement ratio for banks by 50 basis points to 9.5%, injecting roughly 1 trillion yuan into the banking system.
in the second quarter, according to the third estimate released Thursday, up from the 1.4% growth seen in the first quarter and representing an no change from the government?s second estimate. This outcome continues to reflect the strength of the U.S. economy, marking the eighth consecutive quarter of growth.
Bilibili Inc (BILI) ? ADR shares are trading lower by 1.69% to $18.32 Wednesday afternoon, though off their session low of $17.35. Shares of U.S.-listed Chinese companies are trading lower amid a possible selloff following yesterday's strength after?China's Central Bank?announced a?new stimulus package.
JD.Com Inc (JD) shares are trading lower by 2.05% to $32.21 Wednesday morning. What Happened: JD?s decline is likely attributed to profit-taking, as investors lock in gains following a sharp 7% rise on Tuesday after the People?s Bank of China announced substantial cuts to key interest rates and the reserve requirement ratio for banks.
American homeowners and prospective buyers had been biding their time, waiting for a decisive move from the Federal Reserve to reignite the mortgage market. That moment came on Sept. 18, when the Fed?s large and unexpected 50-basis-point rate cut?bringing the target range to 4.75%-5%?opened the floodgates for mortgage refinancing and home purchases.
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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