* PCE rises 2.3% in October on annual basis. * Dell, HP fall after downbeat quarterly forecasts. * Q3 GDP unrevised at 2.8%; weekly jobless claims at 213,000. * Indexes: Dow up 0.23%, S&P 500 down 0.21%, Nasdaq off 0.66% By Johann M Cherian and Purvi Agarwal.
An inflation gauge that?s closely watched by the Federal Reserve rose as anticipated in October, while personal income and spending data continues to reveal a resilient U.S. consumer. Earlier on Wednesday, the second estimate of the third-quarter economic growth was 2.8%, in line with the data initially reported.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Arab War Risks Insurance Syndicate. The ratings reflect AWRIS? balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
* Gold fell to its lowest since Nov. 18 on Tuesday. * US consumer spending increased solidly in October. * US dollar down nearly 1%, hits 2-week low. By Sherin Elizabeth Varghese and Anushree Mukherjee.
* Retail chains offering Ray Ban augmented-reality glasses and spa services. * Analysts see selective spending with more frequent 'price check' * Executives express caution for holiday season. * Retailers are stocking up customer favorites such as Nike (NKE) fleece clothing and Hoka shoes. * High prices lead to selective purchases and potential last-minute discounts.
* Dell, HP fall after downbeat quarterly forecasts. * Workday down after Q4 subscription revenue forecast misses estimates. * Q3 GDP unrevised at 2.8%; weekly jobless claims at 213,000. * Futures: Dow up 0.14%, S&P 500 down 0.01%, Nasdaq off 0.16% By Johann M Cherian and Purvi Agarwal.
AM Best has upgraded the Financial Strength Rating to B++ from B+ and the Long-Term Issuer Credit Rating to ?bbb? from ?bbb-? of AzRe Reinsurance, OJSC. The ratings reflect AzRe?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management.
The U.S. economy grew at a solid clip in the third quarter, the government confirmed on Wednesday, amid robust consumer spending. Gross domestic product increased at an unrevised 2.8% annualized rate, the Commerce Department's Bureau of Economic Analysis said in its second estimate of third-quarter GDP. Economists polled by Reuters had forecast GDP would be unrevised.
The U.S. economy grew at a solid clip in the third quarter, the government confirmed on Wednesday, amid robust consumer spending. Gross domestic product increased at an unrevised 2.8% annualized rate, the Commerce Department's Bureau of Economic Analysis said in its second estimate of third-quarter GDP. Economists polled by Reuters had forecast GDP would be unrevised.
AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of A and the Long-Term ICR of ?a? of Group Ark Insurance Limited.
The number of Americans filing new applications for unemployment benefits fell again last week, but many laid-off workers are experiencing long bouts of joblessness, keeping the door open to another interest rate cut from the Federal Reserve in December.
The number of Americans filing new applications for unemployment benefits fell again last week, but many laid-off workers are experiencing long bouts of joblessness, keeping the door open to another interest rate cut from the Federal Reserve in December.
AM Best has assigned a Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of ?bbb+? to CTBC Insurance Company Limited. The ratings reflect CTBC Insurance?s balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
* Bank executive says U.S. sanctions behind rouble's fall. * Rouble lost one-third of value vs dollar since early August. * New data shows economy overheated. * Weak rouble, down a third in four months, fuels inflation. By Gleb Bryanski and Alexander Marrow.
Purchasing affordability for first-time U.S. homebuyers will worsen over the coming year on tight supply and just a few more Federal Reserve interest rate cuts, even as average home price rises slow, according to a Reuters poll of property experts.
Purchasing affordability for first-time U.S. homebuyers will worsen over the coming year on tight supply and just a few more Federal Reserve interest rate cuts, even as average home price rises slow, according to a Reuters poll of property experts.
The spirits industry is planning to push for an exemption to any universal tariffs on U.S. imports imposed by the incoming Trump administration, a trade body representing top spirits makers told Reuters. President-elect Donald Trump has threatened to impose across-the-board tariffs of 10% on foreign made goods imported into the United States in a bid to eliminate the country's trade deficit.
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NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
November 27, 2024-- ITT Inc. (ITT) today announced that Moody?s Ratings upgraded the company?s rating to Baa1 from Baa2. In its press release, Moody?s noted the ratings upgrade reflects its expectation that ITT will sustain improvements in profitability and cash generation and continue its well-balanced financial policy over the next several years.
A look at the day ahead in U.S. and global markets from Mike Dolan. With Wall Street about to log off for what's effectively a four-day Thanksgiving holiday, trade tariff jitters are replaced by inflation angst as the Federal Reserve gets another price check.
A look at the day ahead in U.S. and global markets from Mike Dolan. With Wall Street about to log off for what's effectively a four-day Thanksgiving holiday, trade tariff jitters are replaced by inflation angst as the Federal Reserve gets another price check.
During a recent episode of the ?All-In Podcast,??Chamath Palihapitiya?discussed the potential impact of?Elon Musk?and?Vivek Ramaswamy?using the Department of Government Efficiency to simplify the U.S. tax code. What Happened: Palihapitiya highlighted the significant public response to a post by the official X page of DOGE, which questioned opinions about the IRS.
Idorsia plans to restructure its debt, implement cost-cutting measures and could shed up to 270 jobs in a bid to spur profitability, the Swiss pharma company said on Wednesday.
Idorsia plans to restructure its debt, implement cost-cutting measures and could shed up to 270 jobs in a bid to spur profitability, the Swiss pharma company said on Wednesday.
-MSCI's global equities index edged lower and the dollar slipped with Treasury yields on Wednesday as investors digested the latest economic data and the potential impact of policies from the incoming U.S. administration, including tariff threats.
-MSCI's global equities index edged lower and the dollar slipped with Treasury yields on Wednesday as investors digested the latest economic data and the potential impact of policies from the incoming U.S. administration, including tariff threats.
* Israel-Hezbollah ceasefire in effect. * Trump's trade war may be positive for gold - analyst. * China's net gold imports via Hong Kong in October down. By Daksh Grover. Gold prices flitted within a narrow range on Wednesday as investors awaited key U.S. inflation data for insights into the potential scale of a Federal Reserve rate cut next month.
-President-elect Donald Trump on Tuesday tapped Kevin Hassett, who was a key economic adviser in his first term, to chair his National Economic Council, which helps set domestic and international economic policy. Hassett headed the White House Council of Economic Advisers, which advises the president on economic policy, from 2017-2019.
Financial analyst Jim Cramer endorsed owning cryptocurrencies like Bitcoin and Ethereum as a safeguard against government overspending and an ever-increasing deficit. What Happened: Cramer defended his pro-cryptocurrency stance, stating that the concerns over national debt are perpetual, CNBC reported Tuesday.
New Zealand's central bank cut rates for a third time in four months on Wednesday and flagged more substantial easing, including a likely half percentage point reduction in February, as inflation moderated to around the bank's target. The Reserve Bank of New Zealand lowered the cash rate by half a percentage point to 4.25%, as expected by most economists in a Reuters poll.
Gold was little changed on Wednesday, as investors awaited U.S. inflation data for clues on the scale of a possible Federal Reserve rate cut next month. FUNDAMENTALS. * Spot gold was flat at $2,630.59 per ounce, as of 0015 GMT.
Federal Home Loan Mortgage Corp (FMCC) : * FREDDIE MAC - SINGLE-FAMILY DELINQUENCY RATE INCREASED FROM 0.54% IN SEPTEMBER TO 0.55% IN OCTOBER. * FREDDIE MAC - MULTIFAMILY DELINQUENCY RATE INCREASED FROM 0.39% IN SEPT TO 0.40% IN OCT Source text: Further company coverage:
AM Best has upgraded the Financial Strength Rating to A+ from A and the Long-Term Issuer Credit Rating to ?aa-? from ?a+? of Texas Mutual Insurance Company. The ratings reflect Texas Mutual?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
KBRA assigns a long-term rating of AAA with a Stable Outlook to Dallas Independent School District, TX's outstanding Unlimited Tax School Building and Refunding Bonds. The Unlimited Tax Bonds are obligations of the District, payable from a direct and continuing pledge of ad valorem taxes levied on all taxable property within the District, without limitation as to rate or amount.
AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating and affirmed the Financial Strength Rating of B++ and the Long-Term ICR of ?bbb+? of Catholic Order of Foresters.
Some Federal Reserve policymakers believe it may soon be time to lower the rate on funds that banks and money market funds park at the Fed, minutes from the Fed's most recent meeting indicated, so that it once again matches the bottom of the range of the policy rate.
Some Federal Reserve policymakers believe it may soon be time to lower the rate on funds that banks and money market funds park at the Fed, minutes from the Fed's most recent meeting indicated, so that it once again matches the bottom of the range of the policy rate.
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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