White House economic adviser Kevin Hassett, one of President Donald Trump's top contenders to lead the Fed, said the independence of the central bank was important, amid concerns he might be too close to the president. "The Federal Reserve's independence is really, really important," Hassett said in an interview with CNBC.
* US November unemployment rate at 4.6% * CPI and PCE data due later this week. * Platinum rises to 14-year peak. By Sarah Qureshi and Noel John. Gold prices rose on Tuesday as investors analyzed a U.S. jobs report that showed the unemployment rate rose last month from September, reinforcing bets of rate cuts by the U.S. Federal Reserve and sending the dollar index lower.
Wall Street's main indexes slipped at the open on Tuesday after data broadly signaled a cooling U.S. economy, paving the way for more monetary policy easing by the Federal Reserve next year. The Dow Jones Industrial Average fell 36.4 points, or 0.08%, to 48,380.17 at the open.
Wall Street's main indexes slipped at the open on Tuesday after data broadly signaled a cooling U.S. economy, paving the way for more monetary policy easing by the Federal Reserve next year. The Dow Jones Industrial Average fell 36.4 points, or 0.08%, to 48,380.17 at the open.
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.
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.
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.
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.
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.
* 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.
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.
* * 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.
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.
* 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."
* 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.
A look at the day ahead in European and global markets from Ankur Banerjee. Investors have hunkered down, unwilling to take on risky bets, ahead of a clutch of economic data from across the globe and central bank meetings in what is shaping up to be an eventful last full week of the year.
A look at the day ahead in European and global markets from Ankur Banerjee. Investors have hunkered down, unwilling to take on risky bets, ahead of a clutch of economic data from across the globe and central bank meetings in what is shaping up to be an eventful last full week of the year.
* Nonfarm payrolls are forecast increasing 50,000 in November. * Employment is expected to have declined in October due to federal government job losses. * Unemployment rate is estimated to come in at 4.4% in November. * There will be no jobless rate for October because the government shutdown prevented the collection of data. By Lucia Mutikani.
Japanese government bonds barely budged on Tuesday as traders mainly remained on the sidelines ahead of crucial U.S. jobs figures later in the day, and a Bank of Japan policy decision this week. The yield on 10-year JGBs was flat at 1.955%, as of 0405 GMT. Benchmark 10-year JGB futures were also little changed at 133.40 yen. Yields move inversely to bond prices.
* US dollar at near two-month lows. * Fed Governor Stephen Miran says inflation closer to 2% target. * US Nov non-farm payrolls, unemployment rate data due at 1330 GMT. By Ishaan Arora. Gold prices edged higher on Tuesday, supported by a softer dollar, as investors awaited the release of key U.S. jobs data that could shape expectations for the Federal Reserve's policy path in the new year.
The Commonwealth Bank of
Australia (CBAUF) and the National Australia Bank (NAUBF), two of the country's four major banks, now expect the central bank to hike interest rates in February next year as inflation picks up in a capacity-constrained economy.
* Investors await US jobs and inflation data for rate cut clues. * Bitcoin at two-week lows as risk off mood spreads. * Focus on BoE, ECB, BOJ policy decisions this week. By Ankur Banerjee.
Economists at the Commonwealth Bank of Australia (CBAUF) now expect the Reserve Bank of Australia will hike interest rates in February next year as inflationary pressures pick up amid a capacity constrained economy.
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 U.S. economy added 64,000 jobs in November, surpassing an estimate from economists polled by Reuters.
Japan's manufacturing activity contracted at a slower pace while the service sector lost some steam in December, private-sector surveys showed, weighing on the economy at the end of 2025.
* 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.
Australia's consumer sentiment slid in December after turning positive for the first time in four years the previous month, as households grappled with renewed angst over inflation and the interest rate outlook, a private survey showed on Tuesday. A Westpac-Melbourne Institute survey showed its main index of consumer sentiment fell 9% to 94.5 in December, after surging 12.8% the month before.
Caution weighed on Wall Street on Monday as investors awaited Tuesday's U.S. jobs report, while underlying selling pressure and uncertainty over who will be nominated to replace Federal Reserve Chair Jerome Powell eroded earlier gains in Treasuries. More on that below. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today.
Caution weighed on Wall Street on Monday as investors awaited Tuesday's U.S. jobs report, while underlying selling pressure and uncertainty over who will be nominated to replace Federal Reserve Chair Jerome Powell eroded earlier gains in Treasuries. More on that below. If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today.
* TSX ends down 0.1%, at 31,843.44. * Inflation rate holds at 2.2% in November. * Energy falls 1.4% as oil settles 1.1% lower. * Financials gain 0.5% By Fergal Smith. Canada's main stock index edged lower on Monday as a drop in oil prices weighed on energy shares and despite domestic inflation data that tempered expectations that the Bank of Canada would hike interest rates next year.
* Investors await jobs, inflation data amid Fed rate cut concerns. * Fed divided over rate cuts due to labor market and inflation. * Supreme Court may limit Trump's authority over Federal Reserve. By Karen Brettell.
* Trio of central banks to announce rate decisions. * US non-farm payrolls and inflation data due. * Yen rises while pound loses ground. * US dollar index edges lower, bitcoin continues losing streak. By Chibuike Oguh and Amanda Cooper.
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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