* Powell says central bank can deliberate policy carefully. * Traders expect fewer rate cuts in 2025. * Trump election victory clouds monetary policy outlook. By Ann Saphir and Howard Schneider.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of RiverSource Life Insurance Company and its wholly owned subsidiary, RiverSource Life Insurance Co. of New York.
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of General Reinsurance Corporation and its core property/casualty and lifeinsurance subsidiaries operating in the United States and internationally.
New Senate Majority Leader John Thune, who played a key role in negotiations of the Tax Cuts and Jobs Act, noted at the time the "fierce support in both chambers" for tax-exempt private activity bonds.
* PPI rises 0.2% on monthly basis in October. * Weekly jobless claims lower than forecast. * Walt Disney (DIS) up after beating Q4 earnings estimates. * Tapestry gains after terminating Capri deal. * Indexes down: Dow 0.03%, S&P 500 0.07%, Nasdaq 0.05% By Lisa Pauline Mattackal and Purvi Agarwal.
The county is reviewing responses to a request for proposals to help fund construction of a replacement jail through a bond-financed lease-purchase arrangement.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.78 percent. ?After a six-week climb, rates have leveled off, but overall affordability continues to be an issue for potential homebuyers,? said Sam Khater, Freddie Mac?s Chief Economist.
Brazil has been effected to a lesser extent than other emerging market economies by the appreciation of the U.S. dollar following President-elect Donald Trump's election victory, Brazil's central bank chief Roberto Campos Neto said on Thursday.
* US bond yields slip. * US producer prices rise as expected. * Initial jobless claims slightly below expectations. By Chuck Mikolajczak. A gauge of global stocks was lower for a third straight session on Thursday, after U.S. economic data indicated the labor market remains solid while progress on tamping down inflation may be waning.
AM Best has upgraded the Long-Term Issuer Credit Rating to ?bbb+? from ?bbb? and affirmed the Financial Strength Rating of B++ of Nazareth Mutual Insurance Company. The Credit Ratings reflect Nazareth?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
U.S. Treasury yields briefly ticked up on Thursday after data showed a solid labor market and a bit more pipeline inflation, before falling back again as the market awaited an afternoon speech by Jerome Powell for any clues about the Fed's next move.
Canada's main stock index touched a record high on Thursday, helped by energy stocks, while investors digested a mixed batch of U.S. economic data and awaited Federal Reserve Chair Jerome Powell's comments due later in the day. The S&P/TSX composite index was up 77.54 points, or 0.31%, at 25,066.56, set for a fourth consecutive session of gains.
The number of active ETFs launched has skyrocketed this year, with 20 new funds launched year-to-date. This compares with the four passive ETFs created so far in 2024, according to Morningstar Direct data.
Living-wage job prospects mixed across demographic categories WASHINGTON, Nov. 14, 2024 The U.S. "functional unemployment" rate saw a slight uptick in October, rising 0.1 percentage points, according to the latest True Rate of Unemployment by the Ludwig Institute for Shared Economic Prosperity.
High union wage settlements and the possibility of coming tariff increases are among the uncertainties that could make U.S. Federal Reserve officials more cautious about thinking they have won their battle against high inflation, Richmond Federal Reserve president Tom Barkin said on Thursday.
AM Best has upgraded the Financial Strength Rating to A- from B++ and the Long-Term Issuer Credit Rating to ?a-? from ?bbb+? of Gulf Insurance Group ? Jordan. The ratings reflect GIG Jordan?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
* PPI rises 0.2% on monthly basis in October. * Weekly jobless claims lower than forecast. * Walt Disney (DIS) up after beating Q4 earnings estimates. * Tapestry gains after terminating Capri deal. * Indexes down: Dow 0.08%, S&P 500 0.16%, Nasdaq 0.18% By Lisa Pauline Mattackal and Purvi Agarwal.
Wall Street's main indexes edged higher at the open on Thursday after a broadly in line reading of producer prices data, with investors awaiting Federal Reserve Chair Jerome Powell's comments later in the day for clues on the outlook for interest rates.
* PPI rises 0.2% in October, jobless claims lower than forecast. * Walt Disney (DIS) up after beating Q4 earnings forecast. * Tapestry gains after terminating Capri deal. * Futures: Dow up 0.17%, S&P 500 down 0.03%, Nasdaq down 0.08% By Lisa Pauline Mattackal and Purvi Agarwal.
U.S. producer prices picked up in October, lifted by higher costs for services like portfolio management and airline fares, another sign that progress towards lower inflation was stalling.
- Futures tied to the Federal Reserve's policy rate edged down after data showed wholesale prices firmed a little more than expected last month, though not enough to suggest traders have lost confidence that the U.S. central bank will cut short-term borrowing costs again next month.
Producer inflation in October came slightly higher than anticipated Thursday, casting doubts on whether the U.S. economy's broader disinflationary trend will hold through the year?s final quarter. Compared to October 2023, the Producer Price Index surged to 2.4% last month, up from upwardly revised 1.9% and surpassing projections of 2.3% as tracked by TradingEconomics data.
The number of Americans filing new applications for unemployment benefits fell last week, suggesting the labor market continued to chug along and that the abrupt slowdown in job growth in October was an aberration. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 217,000 for the week ended Nov. 9, the Labor Department said on Thursday.
The number of Americans filing new applications for unemployment benefits fell last week, suggesting the labor market continued to chug along and that the abrupt slowdown in job growth in October was an aberration. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 217,000 for the week ended Nov. 9, the Labor Department said on Thursday.
U.S. utility firm Talen Energy (TLN) beat Wall Street estimates for third-quarter core profit on Thursday, helped by higher electricity rates and resilient demand for power. Shares of the utility were up nearly 7% in premarket trading. Power consumption is expected to reach record highs in 2024 and 2025 due to surging demand from artificial intelligence and data centers.
A European Central Bank rate cut last month was seen as an insurance move against unexpectedly low inflation but policymakers appear divided on the risk of excessively low price growth, the accounts of their Oct 16-17 meeting showed on Thursday.
Economic activity in Brazil increased more than expected in September, yet another sign of strength after the central bank accelerated its monetary tightening pace. The IBC-Br index, a leading indicator of gross domestic product, rose by a seasonally adjusted 0.8% from the previous month, the central bank said on Thursday, higher than the 0.5% rise predicted by economists polled by Reuters.
-Wall Street's main indexes closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened investors' hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy.
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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