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.
U.S. job openings unexpectedly increased in August after two straight monthly decreases, but hiring was soft and consistent with a slowing labor market that keeps the Federal Reserve on track to cut interest rates again in November. The Labor Department's Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday also showed layoffs declining.
* Russia's 2025 budget is most secretive in post-Soviet history. * Parts of the budget catch even central bank by surprise. * Utilities tariff hike set to fuel inflation. * Kremlin fully backs new draft budget. By Darya Korsunskaya and Gleb Bryanski.
U.S. manufacturing held steady at weaker levels in September, but new orders improved and prices paid for inputs declined to a nine-month low, which together with falling interest rates bode well for a rebound in activity in the coming months. The Institute for Supply Management said on Tuesday its manufacturing PMI was unchanged at 47.2 last month.
U.S. manufacturing held steady at weaker levels in September, but new orders improved and prices paid for inputs declined to a nine-month low, which together with falling interest rates bode well for a rebound in activity in the coming months. The Institute for Supply Management said on Tuesday its manufacturing PMI was unchanged at 47.2 last month.
New Orders and Backlogs Contracting; Production and Employment Contracting; Supplier Deliveries Slowing; Raw Materials Inventories Contracting; Customers' Inventories About Right;?Prices Decreasing; Exports and Imports Contracting. TEMPE, Ariz.
Canadian manufacturing activity strengthened for the first time in 17 months in September as market demand improved and lower borrowing costs bolstered confidence in the economic outlook, data showed on Tuesday. The S&P Global Canada Manufacturing Purchasing Managers' Index increased to 50.4 in September from 49.5 in August, its first move above the 50.0 no-change mark since April 2023.
* Aug JOLTS report, Sept. ISM survey due at 10 a.m. ET. * Boeing (BA) slips after report of weighing capital raise. * Port strike halts half of ocean shipping, retailers unchanged. * Futures: Dow off 0.29%, S&P 500 off 0.10%, Nasdaq up 0.01% By Johann M Cherian and Purvi Agarwal.
Litigation in Arizona, Oklahoma, Texas, and Utah could determine bond issuance, culpability for defaults, or the constitutionality of underwriter bans.
* Aug JOLTS report, Sept. ISM survey due at 10 a.m. ET. * Boeing (BA) slips after report of weighing capital raise. * Futures: Dow off 0.17%, S&P 500 up 0.07%, Nasdaq up 0.28% By Johann M Cherian and Purvi Agarwal.
Chile's IMACEC economic activity index jumped 2.3% in August compared with a year earlier, the central bank said on Tuesday, above the 2.0% growth expected by economists polled by Reuters. Economic activity in the world's largest copper producer was down 0.2% compared with the previous month, the central bank added.
TORONTO, Oct. 1, 2024 Russel Metals Inc. (RUSMF) today gave notice to redeem its 5.75% senior unsecured notes due October 27, 2025 effective October 27, 2024, at a price equal to 100% of the aggregate principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon.
* Fed Chair Powell says not 'in a hurry' to lower rates. * Yen steadies as traders assess incoming Japanese PM. * Aussie dollar firm after upbeat retail sales data. By Amanda Cooper and Brigid Riley. LONDON/TOKYO, Oct 1 - The dollar rose broadly on Tuesday after Federal Reserve Chair Jerome Powell pushed back against bets on more supersized interest rate cuts.
Futures for Canada's main stock index edged lower on Tuesday ahead of domestic and the U.S. economic data that will provide insights on their interest rate paths, while oil prices slid on prospects of additional supply. December futures on the S&P/TSX index were down 0.1% at 6:25 a.m. ET.
VAUGHAN, ON, Oct. 1, 2024 GFL Environmental Inc. (GFL) today announced the pricing of US$210 million in aggregate principal amount of Florida Development Finance Corporation Solid Waste Disposal Revenue Bonds at 4.375% in a transaction that was significantly oversubscribed.
Euro zone bond yields dropped on Tuesday as data showed inflation in the bloc fell below the European Central Bank's 2% target in September, and comments from ECB officials bolstered bets on an October rate cut. Data on Tuesday showed euro zone inflation fell to 1.8% year-on-year in September - below the 2% level for the first time since mid-2021 - from 2.2% in August.
* Futures: Dow off 0.26%, S&P 500 dips 0.09%, Nasdaq up 0.07% U.S. stock index futures were flat to slightly lower on Tuesday as investors awaited labor market data, a day after Federal Reserve Chair Jerome Powell pushed back against market expectations for outsized interest rate cuts.
The Bank of Mexico's governing board may consider larger cuts to its benchmark interest rate going forward as inflation in Latin America's second largest economy cools, bank governor Victoria Rodriguez told Reuters in an interview late on Monday.
* Fed Powell signals 25-bp rate cuts. * Goldman Sachs raises gold price forecast to $2,900. * U.S. job openings data due later in the day. By Anushree Mukherjee. Gold prices rose on Tuesday on safe-haven demand due to Middle-East tensions and lower U.S. bond yields, although the metal hovered below recent record highs after the Federal Reserve chief signalled smaller rate cuts in future.
A look at the day ahead in U.S. and global markets from Mike Dolan. Wall Street's S&P500 kicks off the final quarter of a stellar 2024 from yet another record close notched on Monday - with odd quarter-end effects competing with measured Federal Reserve guidance as labor market updates hit the radar.
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street's S&P500 kicks off the final quarter of a stellar 2024 from yet another record close notched on Monday - with odd quarter-end effects competing with measured Federal Reserve guidance as labor market updates hit the radar.
Government bonds rallied on Tuesday as euro zone inflation data boosted the case for faster European Central Bank rate cuts but the dollar firmed after comments by U.S. Federal Reserve Chair Jerome Powell scuppered bets on a second big rate reduction.
The Bank of Mexico's governing board may consider larger cuts to its benchmark interest rate going forward as inflation in Latin America's second largest economy cools, bank governor Victoria Rodriguez told Reuters in an interview late on Monday.
* Euro zone Sept factory activity shrank at fastest pace this year. * Factory activity in Japan shrinks in Sept, slows in Taiwan. * China stimulus may offer relief for Asian exporters. By Jonathan Cable and Leika Kihara.
Greece's jobless rate stood at 9.5% in August, down from 9.9% in July, data from statistics service ELSTAT showed on Tuesday. Seasonally adjusted data showed 444,402 people were officially unemployed. Unemployment impacted women more than men, at the rates of 11.6% and 7.7%, respectively.
* Inflation 1.8% in Sept vs 2.2% in Aug. * Markets betting on Oct, Dec rate cut from ECB. * Energy, goods prices the biggest drag on inflation. * Services price pressures also easing a touch. By Balazs Koranyi.
* 7 for National Day holidays. * Sri Lanka to discuss shape of IMF deal in Washington meetings. * CEE's manufacturing downturn continues but bright spots appear. * Turkish manufacturing sector contracts further in Sept. By Ankika Biswas.
Japan's newly appointed economy minister, Ryosei Akazawa, said on Tuesday that he wanted the Bank of Japan to decide on future rate hikes carefully, according to Jiji news agency.
British manufacturers turned much more pessimistic in September on worries about the new government's first budget combined with concerns about conflict in the Middle East and strong inflation pressures, a survey showed on Tuesday.
Manufacturing activity across the euro zone declined at its fastest pace this year in September as demand waned sharply despite factories cutting their prices, a survey showed on Tuesday. The downturn was broad-based and Germany, Europe's largest economy, recorded its most pronounced worsening of factory conditions for 12 months.
Manufacturing activity across the euro zone declined at its fastest pace this year in September as demand waned sharply despite factories cutting their prices, a survey showed on Tuesday. The downturn was broad-based and Germany, Europe's largest economy, recorded its most pronounced worsening of factory conditions for 12 months.
Deutsche Bank on Tuesday said it now expects the European Central Bank to cut interest rates again in October, after steeper-than-expected falls in inflation across the euro zone in September.
Asian stocks pulled back from two-and-half-year highs on Tuesday and the dollar firmed following comments from Federal Reserve Chair Jerome Powell that scuppered bets of big interest rate cuts, while Middle-East tension kept risk sentiment in check.
A look at the day ahead in European and global markets from Tom Westbrook. European inflation figures are due on Tuesday and the risk is to the downside, which will reinforce bets that the European Central Bank cuts interest rates later in the month. Already this week Germany's September inflation came in below forecasts and, at 1.8% year-on-year, was the lowest since 2021.
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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