* US job growth surges in Sept; unemployment rate falls to 4.1% * Spirit Airlines (SAVE) tanks after report of bankruptcy filing. * Energy sector set for biggest weekly jump in two years. * Indexes up: Dow 0.3%, S&P 500 0.4%, Nasdaq 0.7% By Caroline Valetkevitch.
Brazil's trade surplus slipped about 42% in September, official data showed on Friday, a narrower decline than analysts expected, but the government also cut its full-year forecast. The September figure came in at $5.363 billion, the Ministry of Development, Industry, Trade, and Services said, due to stable exports and rising imports.
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Ratings of ?bbb+? of the two operating subsidiaries of Nagico Holdings Limited ? National General Insurance Corporation N.V. and Nagico Insurance Company Limited.
-The resolution of a U.S. port strike is likely to keep global supply chain pressures on a calm footing, allowing for a continued slowdown in inflation, an index tracked by the New York Federal Reserve showed on Friday. The regional Fed bank's global supply chain pressure index, which measures how readings deviate from historical averages, eased to a reading of 0.13 in September.
* US job growth surges in Sept; unemployment rate falls to 4.1% * Spirit Airlines (SAVE) tanks after report of bankruptcy filing. * Rivian slips after cutting full-year production forecast. * Energy sector poised for biggest weekly jump in two years. * Indexes up: Dow 0.36%, S&P 500 0.45%, Nasdaq 0.74% By Johann M Cherian and Purvi Agarwal.
Four key metrics in positive territory as tech unemployment rate falls to 2.5% DOWNERS GROVE, Ill. 2 The significant increase pushed the tech unemployment rate back down to 2.5%, well below the national unemployment rate. "It was never really a question of if, but when employers were going to resume hiring," Tim Herbert, chief research officer, CompTIA.
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.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Eurasia Insurance Company JSC. The ratings reflect Eurasia?s balance sheet strength, which AM Best assesses as strong, as well as the company?s strong operating performance, neutral business profile and appropriate enterprise risk management.
Despite the recent interest rate cut by the Federal Reserve, consumers should not expect any significant impact on their credit card debt. ?Typically, consumers feel the impact of Fed rate changes when they take out new debt," said Kate Bulger, Vice President of Business Development at MMI.
* Growing economy, cooling labor in "tension" * Jobs beating expectations counters sense of rising risk. * Revisions show less job slowing than feared. By Howard Schneider.
* US job growth surges in Sept; unemployment rate falls to 4.1% * Spirit Airlines (SAVE) tanks after report of bankruptcy filing. * Rivian slips after slashing full-year production forecast. * Energy sector poised for biggest weekly jump in two years. * Indexes up: Dow 0.62%, S&P 500 0.71%, Nasdaq 1.11% By Johann M Cherian and Purvi Agarwal.
Canadian economic activity rebounded in September after contracting in the prior month as the pace of price increases cooled to its slowest in six months, Ivey Purchasing Managers Index data showed on Friday. The seasonally adjusted index rose to 53.1 from 48.2 in August. August's reading was the first move below the 50 no-change threshold in 13 months.
-Chicago Federal Reserve President Austan Goolsbee on Friday called the latest U.S. jobs report "superb" and said more labor market data along those lines would boost his confidence the economy is at full employment with low inflation.
U.S. job gains increased by the most in six months in September and the unemployment rate fell to 4.1%, pointing to a resilient economy that likely does not need the Federal Reserve to deliver large interest rate cuts for the rest of this year. In addition to the better-than expected increase in nonfarm payrolls reported by the Labor Department on Friday, wages rose at a solid pace last month.
-A surge in U.S. job growth has financial markets betting the Federal Reserve will follow last month's half-point interest rate reduction with smaller moves, and ignited a debate over whether the policy rate ends up at a higher level than previously expected.
A surge in U.S. job growth has financial markets betting the Federal Reserve will follow last month's half-point interest rate reduction with smaller moves, and ignited a debate over whether the policy rate ends up at a higher level than previously expected.
* US job growth accelerates, unemployment rate slips to 4.1% * Silver set for weekly gain. * Festivities spark slight demand for gold in India. By Anjana Anil. Gold prices fell on Friday after a stronger-than-expected U.S. jobs report boosted the dollar and caused analysts to scale back expectations of an aggressive rate cut from the Federal Reserve next month.
-U.S. job growth accelerated in September and the unemploymentrate slipped to 4.1% from August's 4.2%, further reducing theneed for the Federal Reserve to maintain large interest ratecuts at its remaining two meetings this year.
The dollar soared on Friday after data showed the U.S. economy added far more jobs than expected in September, quashing expectations for another jumbo rate cut from the Federal Reserve and soothing some concern about the outlook for growth.
* US job growth surges in Sept; unemployment rate falls to 4.1% * Spirit Airlines (SAVE) tanks after report of bankruptcy filing. * Futures up: Dow 0.48%, S&P 500 0.70%, Nasdaq 0.99% By Johann M Cherian and Purvi Agarwal.
Euro zone bond yields leapt on Friday after data showed U.S. jobs growth was stronger than expected in September, weakening the case for further outsized interest rate cuts from the Federal Reserve. Data showed. U.S. nonfarm payrolls rose by 254,000 in September, compared to 159,000 in August, well above economists' expectations of a 140,000 increase.
AM Best has affirmed the Long-Term Issue Credit Rating of ?a-? on the $750 million, 5.3% senior unsecured notes, due December 2034, of MetLife, Inc. [NYSE: MET]. The outlook of this Credit Rating is stable. The rating applies to the recently issued $250 million, 5.3% senior unsecured notes, due 2034, and its existing $500 million, 5.3% senior unsecured notes, due 2034, issued June 5, 2024.
AM Best has assigned a Long-Term Issue Credit Rating of ?aa+? to the $500 million, 4.35% senior secured medium-term notes, due Sept. 17, 2031, issued by MassMutual Global Funding II.. MassMutual?s leverage and interest coverage ratios are within AM Best?s guidelines for its ratings. This press release relates to Credit Ratings that have been published on AM Best?s website.
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.
The dollar jumped to a seven-week high on Friday after data showed that employers added more jobs than expected in September, leading traders to pare bets that the Federal Reserve will cut rates again by 50 basis points at its November meeting. Nonfarm payrolls increased by 254,000 jobs last month after rising by an upwardly revised 159,000 in August.
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.
The employment picture in the U.S. heated up in September, with the government reporting the addition of 254,000 jobs last month, flying past economist estimates for just 140,000.
* * Unemployment rate falls to 4.1% from 4.2% * Average hourly earnings rise 0.4%; up 4.0% year-on-year. * Average workweek slips to 34.2 hours from 34.3 hours. By Lucia Mutikani.
Fears of a Hawaiian Electric (HAWLI) bankruptcy abated after a settlement was announced that would cap the utility's liability for the Maui wildfire under $2 billion.
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?
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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