* U.S. CPI slightly above expectations. * * Market views for 25-bp Fed rate cut in November climb. By Chuck Mikolajczak. Global stocks slipped for the first time in three sessions while shorter-dated U.S. Treasury yields dipped as slightly higher than expected U.S. inflation data and a jump in weekly jobless claims did not diminish expectations the Fed will cut rates in November.
- Federal Reserve Bank of New York President John Williams said Thursday he expects more rate cuts lie ahead as inflation pressures continue to moderate.
WASHINGTON, Oct. 10, 2024 Fannie Mae?announced today that it has executed a new Credit Insurance Risk Transfer? transaction. "We appreciate the support of the 25 insurers and reinsurers that committed to write coverage on this deal," said Rob Schaefer, Fannie Mae Vice President, Capital Markets.
AM Best has affirmed the Financial Strength Rating of B++, the Long-Term Issuer Credit Rating of ?bbb? and the Philippines National Scale Rating of aa+.PH of National Reinsurance Corporation of the Philippines.
The Mexican government's wide budget deficit this year should land below 6% of the country's economic output, President Claudia Sheinbaum said on Thursday, pledging to keep government red ink roughly in line with an earlier forecast. This year's deficit was previously estimated at 5.9% of the country's gross domestic product.
- Chicago Federal Reserve Bank Austan Goolsbee on Thursday said he sees a series of interest-rate cuts over the next year to year and a half, noting that inflation is now near the Fed's 2% goal and the economy is about at full employment, and the Fed's goal is to freeze those conditions in place.
Mexican President Claudia Sheinbaum said on Thursday that the government's budget deficit should end this year at below 6% of gross domestic product, while aiming for a deficit of 3.5% of GDP in 2025. This year's budget deficit is forecast to reach 5.9% of the country's economic output.
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* U.S. inflation annual rise smallest since February 2021. * U.S. jobless claims rise in latest week. * U.S. yield curve steepens post-data. * U.S. rate futures price in 91% chance of 25-bp cut in November. By Gertrude Chavez-Dreyfuss.
* U.S. consumer prices rise slightly above expectations in September. * U.S. weekly jobless claims surge. * Traders see an 88% chance of a 25 bp cut in November. By Anushree Mukherjee. Oct 10 - Gold prices extended gains on Thursday after traders added to bets that the Federal Reserve will deliver an interest-rate cut next month following the latest U.S. economic data.
* September CPI data higher than expected. * Delta Air Lines (DAL) down after Q3 results. * Indexes down: Dow 0.18%, S&P 500 0.27%, Nasdaq 0.38% By Lisa Pauline Mattackal and Pranav Kashyap. Wall Street opened lower on Thursday as hotter-than-expected September inflation data reinforced expectations of a 25-basis-point rate hike by the Federal Reserve at its upcoming meeting.
WASHINGTON, Oct. 10, 2024 Fannie Mae?today announced the results of its twenty-fifth non-performing loan sale transaction. The loan pool awarded in this most recent transaction includes: The cover bid, which is the second highest bid for the pool, was 101.29% of UPB. Bids are due on Fannie Mae's Community Impact Pool on October 17, 2024.
Federal Reserve policymakers are seen as likely to deliver a quarter-percentage-point interest-rate cut next month and continue to lower the policy rate gradually until it gets to 3.5%, or possibly lower, by late next year, based on bets in interest-rate futures contracts.
Wall Street's main indexes fell at the open on Thursday, after data showed U.S. inflation was higher than expected in September, keeping the Federal Reserve on track to ease interest rates by 25 basis points at its next meeting.
Euro zone government bond yields pared their rise on Thursday after U.S. economic data led investors to slightly increase bets on Federal Reserve interest rate cuts. U.S. consumer prices rose slightly more than expected in September, but their annual increase was the smallest in more than 3-1/2 years.
* U.S. CPI rises 0.2% m-o-m, 2.4% y-o-y. * Jobless claims surge. * Markets still se 25 bp Fed rate cut in November. * Investors wait on details of China stimulus measures. * Focus on Saturday's briefing on fiscal policy moves. * French budget provides European focus for later in the day. By Alun John.
* September CPI data higher than expected. * Delta Air Lines (DAL) down after Q3 results. * Futures down: Dow 0.26%, S&P 500 0.37%, Nasdaq 0.52% By Lisa Pauline Mattackal and Pranav Kashyap.
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.
AM Best has upgraded the Financial Strength Rating to A from B++ and the Long-Term Issuer Credit Rating to ?a? from ?bbb+? of GIG Insurance - Egypt S.A.E.. The outlook of these Credit Ratings is stable.
The U.S. dollar edged lower against the yen on Thursday after data showed a higher-than-expected rise in U.S. inflation in September even though prices were on a downward trend, allowing the Federal Reserve to keep cutting interest rates. Labor Department data on Thursday showed that the consumer price index increased 0.2% in September.
- U.S. consumer prices rose slightly more than expected in September, but the annual increase in inflation was the smallest in more than 3-1/2 years, potentially keeping the Federal Reserve on track to cut interest rates again next month. The consumer price index increased 0.2% last month after gaining 0.2% in August, the Labor Department said on Thursday.
U.S. Treasury yields were mixed on Thursday, after briefly turning lower across the board in volatile trade as data showed inflation last month came in a little higher than expected, although the annual rise was the lowest since February 2021. Data showed the consumer price index increased 0.2% last month after gaining 0.2% in August.
The number of Americans filing new applications for unemployment benefits surged last week, partially boosted by Hurricane Helene and furloughs at Boeing amid a nearly four-week-old strike at the U.S. planemaker. Initial claims for state unemployment benefits increased 33,000 last week to a seasonally adjusted 258,000 for the week ended October.
The number of Americans filing new applications for unemployment benefits surged last week, partially boosted by Hurricane Helene and furloughs at Boeing (BA) amid a nearly four-week-old strike at the U.S. planemaker. Initial claims for state unemployment benefits increased 33,000 last week to a seasonally adjusted 258,000 for the week ended October.
-Slowly cooling inflation and a U.S. job market that remains strong but at risk of deteriorating give a green light for more interest-rate cuts in coming months, Federal Reserve policymakers indicated in remarks on Thursday, even as one suggested that skipping a move in November may be in order.
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.
Inflation came in stronger than expected in the U.S. in September, according to the government's Consumer Price Index report released Thursday morning. The Consumer Price Index rose 0.2% in September versus economist forecasts for 0.1% and a 0.2% rise in August. Core CPI ? which excludes more volatile food and energy costs ? rose 0.3% in September versus forecasts for 0.2% and 0.3% in August.
U.S. consumer prices rose slightly more than expected in September, but the annual increase in inflation was the smallest in more than 3-1/2 years, potentially keeping the Federal Reserve on track to cut interest rates again next month. The consumer price index increased 0.2% last month after gaining 0.2% in August, the Labor Department's Bureau of Labor Statistics said on Thursday.
U.S. consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years, keeping the Federal Reserve on track to cut interest rates again next month.
Stock index futures extended losses on Thursday as data showed U.S. inflation was higher than expected in September, hinting at the possibility of fewer interest-rate cuts later this year. A Labor Department report showed the Consumer Price Index rose 2.4% in September on an annual basis, compared with an estimate of a 2.3% rise.
* Delta Air Lines (DAL) down after Q3 results. * CPI data due at 8:30 a.m. ET. * Futures down: Dow 0.10%, S&P 500 0.17%, Nasdaq 0.20% By Lisa Pauline Mattackal and Pranav Kashyap.
-Wall Street's main indexes closed lower on Thursday as investors looked to higher-than-expected inflation and unemployment claims for indications on the health of the U.S. economy and the path for interest rates.
European Central Bank policymakers appeared content with the drop in inflation when they met last month but argued for a gradual policy easing given stubborn price pressures, the accounts of their Sept. 12 policy meeting showed on Thursday.
Indian shares ended marginally higher on Thursday as a drop in information technology stocks weighed on gains in financials, while markets awaited a key U.S. inflation report. The Nifty 50 index rose 0.07% to 24,998.45, while the S&P BSE Sensex added 0.18% to 81,611.41. The indexes rose about 0.6% each earlier in the session.
A look at the day ahead in U.S. and global markets from Mike Dolan. With U.S. stocks at new records and devastating Hurricane Milton now weakening as it passes over Florida, the shifting U.S. interest rate horizon is back in focus with September's key inflation update due on Thursday.
A look at the day ahead in U.S. and global markets from Mike Dolan With U.S. stocks at new records and devastating Hurricane Milton now weakening as it passes over Florida, the shifting U.S. interest rate horizon is back in focus with September's key inflation update due on Thursday.
-Wall Street's main indexes closed lower on Thursday as investors looked to higher-than-expected inflation and unemployment claims for indications on the health of the U.S. economy and the path for interest rates.
China's former deputy central bank governor, Fan Yifei, has been sentenced to death for taking bribes with a two-year reprieve, state media said on Thursday, amid a sweeping anti-graft drive in the financial sector.
Bank of Japan Deputy Governor Ryozo Himino said on Thursday the central bank will consider raising interest rates if the board has "greater confidence" that its economic and price forecasts will be realised. Himino said the BOJ's decision on when to raise interest rates will be made by looking at the "totality" of data presented at each policy meeting.
* U.S. CPI data due at 1230 GMT. * * Platinum climbs more than 1% By Daksh Grover. Gold prices recovered slightly on Thursday to snap a six-session losing streak, while traders remain focused on a key U.S. inflation reading for insights on a potential rate reduction by the Federal Reserve this year. Spot gold was up 0.3% at $2,615.19 per ounce, as of 0833 GMT.
Greek industrial output rose by 3.1% year-on-year in August, after a downwardly revised 9.9% increase in July, data from statistics service ELSTAT showed on Thursday. A breakdown of index components showed manufacturing production rose 3.1% from the same month in 2023.
Berkshire Hathaway has successfully secured 281.8 billion yen, approximately $1.9 billion, via a yen-denominated bond offering. What Happened: This issuance of Samurai bonds highlights Warren Buffett?s increasing interest in Japan?s financial markets.
The U.S. dollar rose to a 10-week peak against the yen on Thursday as markets grew more confident about a patient approach by the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day.
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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