* Fed's Kugler exited central bank amid trading rules violations. * New disclosures detail trading that broke Fed rules. * Kugler faces Fed Inspector General Inquiry. By Michael S. Derby.
Former Federal Reserve Governor Adriana Kugler, who abruptly resigned this summer, had multiple financial transactions in violation of the central bank's ethics rules, government filings showed on Saturday, with the matter referred to the Fed's in-house watchdog for investigation.
Adriana Kugler, a Federal Reserve governor who abruptly resigned her position in August, filed a financial disclosure form for investments that the central bank's ethics officer declined to certify. The form filed with the Office of Government Ethics and made public on Saturday noted inadvertent trading activity by Kugler's husband that was forbidden under central bank ethics rules.
-New York Federal Reserve President John Williams met with Wall Street banks this week to discuss a key short-term lending facility, a New York Fed spokesperson told Reuters.
New York Federal Reserve President John Williams met with Wall Street banks this week to discuss a key short-term lending facility, a New York Fed spokesperson told Reuters.
-As U.S. agencies on Friday began announcing plans for releasing economic data delayed by the government shutdown, a trio of U.S. central bankers reiterated their concerns about inflation while the Fed's most dovish policymaker said economic data in hand argued for another rate cut. In the meantime, financial markets placed their bets.
New York Federal Reserve's President John Williams held a meeting with Wall Street banks this week to discuss a key short-term lending facility, the Financial Times reported on Friday, citing three people familiar with the matter.
* After overseas sell-off, Nasdaq closes lightly higher. * Investor bets decline for Fed rate cut next month. * US Treasury yields turn higher, dollar edges up. * UK markets whipped around by budget talk. By Sin?ad Carew and Dhara Ranasinghe.
* US two-year yields post largest weekly rise since mid-June. * US 2/10 yield curve bear steepens, suggesting Fed pause imminent. * Rate futures price 40% chance of rate cut in December. * Fed's Schmid, Logan favor pause in December meeting. By Gertrude Chavez-Dreyfuss and Alden Bentley.
* Walmart (WMT) falls after announcing CEO retirement. * Cidara Therapeutics (CDTX) soars on Merck's (MRK) buyout deal. * Nvidia (NVDA) report seen as key to AI rally. By Noel Randewich. Wall Street stocks ended mixed on Friday as investors looked ahead to Nvidia's (NVDA) quarterly results next week and worried that the Federal Reserve may hold off on cutting U.S. interest rates in December.
* After overseas sell-off, Wall Street turns higher. * Investors bets decline for Fed rate cut next month. * US Treasury yields turn higher, dollar edges up. * UK markets whipped around by budget talk. By Sin?ad Carew and Dhara Ranasinghe.
-Dallas Federal Reserve President Lorie Logan on Friday again signaled she would oppose an interest-rate cut in December, after also opposing the Fed's rate cut in October, because of her concern that inflation is too high, trending upward, and taking too long to get to the Fed's 2% target.
* Logan did not support a rate cut in October. * Labor market not now in need of further preemptive insurance, Logan says. * Logan next votes on rate-setting next year. By Ann Saphir.
* Fed officials cautious on further easing due to inflation concerns. * US data return expected to increase market volatility. * Pound falls after UK tax policy shift. By Karen Brettell.
* Indexes: Dow down 0.32%, S&P 500 up 0.38%, Nasdaq up 0.68% * Financials drag on Dow but indexes set for weekly gains. * Walmart (WMT) falls after announcing CEO retirement. * Cidara Therapeutics (CDTX) soars on Merck's (MRK) buyout deal. By Twesha Dikshit and Purvi Agarwal.
Copper and other industrial metals fell on Friday, joining a broad market selloff sparked by hawkish remarks on interest rates from U.S. Federal Reserve officials, while weak data from top consumer China fanned concerns over demand.
Swiss gold producers are interested in setting up shop in the United States in the future, said a senior Swiss economic affairs official on Friday at a press conference after a tariff agreement was reached with Washington. Gold, which is a large contributor to Switzerland's trade surplus with the United States, remains exempt from tariffs, according.
Wall Street's main indexes pared losses after being weighed down by technology stocks earlier Friday, while Federal Reserve officials cast doubt on a potential interest rate cut in December. Concerns about stretched AI stock valuations have triggered declines in recent weeks, putting the Nasdaq on course for its longest losing streak since April.
Wall Street's main indexes sank on Friday, weighed down by technology stocks, while Federal Reserve officials cast doubt on a potential interest rate cut in December. Concerns about stretched AI stock valuations have triggered declines in recent weeks, putting the Nasdaq on course for its longest losing streak since April.
* Gold up 2.3% so far this week. * Silver, platinum, palladium down 3% * Traders see a 50% chance of US interest rate cut in December. By Noel John and Pablo Sinha. Gold prices dropped 3% on Friday on a broader market sell-off, sparked by hawkish remarks from U.S. Federal Reserve officials, dimming hopes for a December interest rate cut.
Canada's main stock index dropped on Friday, dragged down by hawkish signals from U.S. Federal Reserve officials, a sweeping tech selloff and lower commodity prices. At 09:48 a.m. ET, Toronto's S&P/TSX composite index fell 0.8%, after dropping as much as 1.4% to its lowest level in a week, compounding Thursday's 1.9% decline.
-Kansas City Federal Reserve President Jeffrey Schmid on Friday said his concerns about "too hot" inflation go well beyond the narrow effects of tariffs alone, in fresh remarks that signaled he could dissent again at the Fed's December meeting should policymakers opt to cut short-term borrowing costs again.
-Wall Street's main indexes dipped on Friday, driven by a renewed selloff in technology stocks, while hawkish commentary from Federal Reserve officials added to doubts about an interest rate cut in December.
Wall Street's main indexes dipped on Friday, driven by a renewed selloff in technology stocks, while hawkish commentary from Federal Reserve officials added to doubts about an interest rate cut in December.
Canada's main stock index dropped over 1% on Friday, on hawkish comments from U.S. Federal Reserve officials and a broad selloff in technology stocks. At 9:31 a.m. ET, Toronto's S&P/TSX composite index was down 1.1% at 29,949.97 points.
* Gold up 1.4% so far this week. * Silver, platinum, palladium down over 3% * Traders see a 53% chance of US interest rate cut in December. By Noel John and Pablo Sinha. Gold prices dropped more than 3% on Friday on a broader market sell-off, sparked by hawkish remarks from U.S. Federal Reserve officials, dimming hopes for a December interest rate cut.
-The S&P 500 and the Nasdaq rose in choppy trading on Friday after a brief technology selloff, while investors looked ahead to Nvidia's quarterly results next week and worried that the Federal Reserve may hold off on cutting U.S. interest rates in December.
The U.S. Treasury and Taiwan's central bank on Friday said they agreed to continue close consultations on macroeconomic and foreign exchange rate matters and both pledged to avoid manipulating the value of their currencies to gain a competitive advantage.
The U.S. Treasury and Taiwan's central bank on Friday said they agreed to continue close consultations on macroeconomic and foreign exchange rate matters and both pledged to avoid manipulating the value of their currencies to gain a competitive advantage.
* World stocks deep in the red, US stock futures lower. * Investors see Fed rate cut next month as a toss-up. * Fed officials take hawkish view. * UK markets whipped around by budget talk. By Dhara Ranasinghe.
Bitcoin dropped to its lowest level in six months on Friday, as a broad sell-off in risk assets deepened amid fading hopes that the Federal Reserve will cut U.S. interest rates at its upcoming policy meeting.
Executives at DWS, one of Europe's largest money managers, are thinking through the potential impacts in the unlikely event that the U.S. Federal Reserve limits access to dollar funding, the firm's CEO told Reuters.
Bitcoin traded below $96,000 for the first time in over six months on Friday, as a sell-off in risky assets accelerated on fading expectations for a December rate cut from the U.S. Federal Reserve.
* Gold up 3.7% so far this week. * Silver also headed for a weekly gain. * Market expects 49% chance of a quarter-point rate cut in December. By Anmol Choubey. Gold prices reversed earlier gains on Friday as hawkish comments from U.S. Federal Reserve officials clouded prospects for a December rate cut, although they remained set for a weekly gain supported by wider economic uncertainty.
Futures for Canada's main stock index fell on Friday, as hawkish comments from U.S. Federal Reserve officials dampened hopes of a December rate cut. Canada's benchmark index tumbled 1.9% on Thursday - its sharpest drop since April - as tech shares led a broad retreat, erasing much of the prior day's rally that had propelled it to a record high.
-Wall Street stocks ended mixed on Friday as investors looked ahead to Nvidia's quarterly results next week and worried that the Federal Reserve may hold off on cutting U.S. interest rates in December.
* Futures down: Dow 0.2%, S&P 500 0.2%, Nasdaq 0.4% U.S. stock index futures dipped on Friday, signaling a fresh round of selloff on Wall Street after hawkish comments from Federal Reserve officials added to doubts about an interest rate cut in December.
* Gold up 4.3% so far this week. * Silver set for best week since September 2024. * Market expects 49% chance of a quarter-point rate cut in December. By Anmol Choubey. Gold prices see-sawed on Friday as hawkish comments from U.S. Federal Reserve officials clouded prospects for a December rate cut, although they remained set for a weekly gain supported by wider economic uncertainty.
* EM stocks tank 1.7%, FX flat. * Polish inflation at 2.8% y/y in October. * Romanian quarterly growth contracts in Q3. * Senegal bonds eye worst week on record. * South Korea vows to stabilise won; intervention suspected after slide. By Nikhil Sharma.
* Gold up 4.3% so far this week. * Silver set for best week since September 2024. * Market expects 49% chance of a quarter-point rate cut in December. By Anmol Choubey. Gold prices pared earlier gains on Friday as hawkish comments from U.S. Federal Reserve officials clouded prospects for a December rate cut, although they remained set for a weekly gain supported by wider economic uncertainty.
The task of clearing the huge backlog of shutdown-delayed U.S. data begins, the world's most valuable company Nvidia (NVDA) publishes its results and new inflation numbers will keep Europe's central banks on their toes.
* World stocks deep in the red, US stock futures lower. * Investors see Fed rate cut next month as a toss-up. * Fed officials take hawkish view. * UK markets whipped around by budget talk. By Dhara Ranasinghe and Iain Withers.
* Japan's megabanks raise profit forecasts again to new records. * Domestic interest rate hikes feed into higher lending margins. * Corporate activity strong as tariff uncertainty eases. By Anton Bridge.
Emerging Asian equities slipped on Friday, hit by a global risk-off wave after hawkish Federal Reserve remarks dimmed hopes of a rate cut next month, with Singapore stocks tumbling from record highs ...
Bank of Japan Deputy Governor Shinichi Uchida is in hospital to treat leukemia and will work remotely for a few weeks, the central bank said on Friday. Uchida, a career central banker, is a member of the BOJ's nine-member policy board along with Governor Kazuo Ueda and the other deputy governor, Ryozo Himino.
Japanese government bonds fell on Friday, pushing yields higher, as they tracked declines in U.S. Treasuries overnight amid growing doubts about an imminent Federal Reserve rate cut. Longer-term Japanese yields rose more, steepening the yield curve - a trend that has been in place all month as investors fretted over the potential for less fiscal restraint under new Prime Minister Sanae Takaichi.
The U.S. shutdown has ended but the hangover is just beginning for investors, who worry gaps in economic data will delay or even derail Federal Reserve rate cuts just as concerns over lofty AI stock valuations have put fresh pressure on companies' stocks and bonds. Unease drove the heaviest selloff for the rate-sensitive Nasdaq in a month on Thursday.
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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