The U.S. trade deficit contracted sharply in October as imports declined by the most since late 2022, potentially positioning trade to contribute to economic growth in the fourth quarter. The trade gap narrowed 11.9% to $73.8 billion from a revised $83.8 billion in September, the Commerce Department's Bureau of Economic Analysis said on Thursday.
The U.S. trade deficit contracted sharply in October as imports declined by the most since late 2022, potentially positioning trade to contribute to economic growth in the fourth quarter. The trade gap narrowed 11.9% to $73.8 billion from a revised $83.8 billion in September, the Commerce Department's Bureau of Economic Analysis said on Thursday.
U.S. drugmaker Amgen (AMGN) said on Thursday it will invest $1 billion in a second manufacturing facility in North Carolina, expanding its prior $550 million commitment to the region. The new facility, to be built in Holly Springs alongside Amgen's (AMGN) existing site, will create 370 new jobs.
Genesis Energy, L.P. (GEL) today announced the commencement, subject to market and other conditions, of a registered, underwritten public offering of $400,000,000 in aggregate principal amount of senior notes due 2033. Wells Fargo Securities, LLC is leading the offering along with several joint book-running managers and co-managers.
The number of Americans filing new applications for unemployment benefits rose slightly last week, pointing to steadily easing labor market conditions heading into the final stretch of 2024.
* Trade deficit narrowed to C$924 million for October. * Trade surplus with the U.S. lowest this year. * Total exports rose 1.1%, imports were up by 0.5% By Promit Mukherjee. OTTAWA, Dec 5 - Canada recorded in October a bigger-than-expected trade deficit with the world and its surplus with top trading partner the United States fell to its lowest this year, data showed on Thursday.
* Initial weekly jobless claims at levels consistent with steady job growth. * Sluggish hiring keeping those without jobs on unemployment rolls for longer. The number of Americans filing new applications for unemployment benefits increased moderately last week, suggesting that the labor market continued to steadily cool.
Legislation for a local government revenue sharing trust fund in Michigan has stalled in the state Senate. On Tuesday, supportive officials gathered in Lansing.
Panel Also Forecasts Stagnant Home Sales and Only Modestly Lower Mortgage Rates WASHINGTON, Dec. 5, 2024 Following an average expectation for national home price growth of 5.2 percent in 2024, a panel of over 100 housing experts forecasts home price growth to decelerate to 3.8 percent in 2025 and 3.6 percent in 2026, according to the Q4 2024 Fannie Mae?Home Price Expectations Survey, produced i...
CP+? real-time pricing now available on the fastest growing electronic muni marketplace MarketAxess Holdings Inc. (MKTX), the operator of a leading electronic trading platform for fixed-income securities, today announced that CP+, the AI-powered, algorithmic pricing engine for global credit and rates markets, will now also cover municipal bonds.
The Egyptian pound weakened to close at 50.0024 to the dollar, having breached the 50 pound barrier for the first time since March, Egypt's central bank said on Thursday.
Nonprofit Provident Resources Group is buying a five-year old student housing building that serves the University of Central Florida and Valencia College.
Proactively Enters into an Amendment which Provides Improved Financial Flexibility Holley Performance Brands a leader in automotive aftermarket performance solutions, today announced the successful amendment of its senior secured revolving credit facility, effective December 4, 2024.
Denmark has again raised its outlook for economic growth, fuelled by the expansion of the country's pharmaceutical industry and in particular by weightloss drug maker Novo Nordisk, the Danish economy ministry said on Thursday. GDP for 2024 is now expected to grow by 3.0%, up from 1.9% seen in August, while the projection for 2025 was raised to 2.9% from 2.2% previously, the new forecasts showed.
Amazon.com Inc. founder Jeff Bezos offered an optimistic perspective on addressing America?s national debt crisis, emphasizing economic growth over spending cuts at the New York Times DealBook Summit on Wednesday. What Happened: ?The way out is by outgrowing them,? Bezos said, referring to economic challenges including the deficit and national debt.
* Bitcoin surges to fresh milestone. * World stocks at record highs. * French government collapses, euro holds up. By Dhara Ranasinghe and Tom Westbrook. Bitcoin broke $100,000 on Thursday as investors bet on a friendly U.S. regulatory shift, while world stocks touched fresh record highs with sentiment bolstered by upbeat comments on the economy from Federal Reserve chief Jerome Powell.
* Starmer: UK will "aim" for highest sustained GDP growth in G7. * Government targets rising living standards in every part of UK. * Real household disposable income has been historically weak. * OBR projects only a modest improvement this parliament.
British Prime Minister Keir Starmer said on Thursday he would judge his government's progress in boosting the economy by using data on household disposable income and GDP per capita over the five-year parliament.
New battery electric vehicle sales in UK rose 58% in November, marking the eleventh straight month of growth, industry data showed, driven by deep discounts to meet government-mandated levels. However, overall new car sales for the month fell 1.9% from a year ago to 153,610 units, due to waning demand among private buyers, The Society of Motor Manufacturers and Traders said.
U.S. stocks ended down slightly on Thursday, with UnitedHealth down sharply and technology shares easing as investors awaited Friday's jobs report. The S&P 500 technology index fell from a record closing high on Wednesday, when all three major U.S. stock indexes also notched closing highs.
U.S. stocks ended lower on Thursday, with UnitedHealth down sharply and technology shares easing as investors awaited Friday's jobs report. The S&P 500 technology index fell 0.2% after hitting a record closing high on Wednesday, when all three major U.S. stock indexes also notched closing highs.
Greece's jobless rate fell to 9.0% in the third quarter from 9.8% in the second quarter, data by the country's statistics service ELSTAT showed on Thursday. The jobless rate for women was 11.5% versus 7.0% for men in the third quarter. About 57%% of Greece's 482,424 jobless are long-term unemployed, meaning they have been out of work for at least 12 months, the figures showed.
Japanese government bond yields rose on Thursday, as market participants grappled with wavering expectations that the Bank of Japan will deliver an interest rate hike this month. The 10-year JGB yield was last up 1.5 basis points at 1.065% after sliding to a three-week low of 1.04% on Wednesday, while 10-year JGB futures slipped 0.18 yen to 143.98 yen.
Business leaders globally are worried about the risk of recession, labour shortages and rising inflation, despite some signs of improvement in economic conditions, a World Economic Forum survey said on Thursday.
Japanese government bond yields rose on Thursday, as market participants grappled with wavering expectations that the Bank of Japan will deliver an interest rate hike this month. The 10-year JGB yield rose 1 basis point to 1.06% after sliding to a three-week low of 1.04% on Wednesday, while 10-year JGB futures slipped 0.08 yen to 143.08 yen.
* Markets price more US rate cuts in 2025. * OPEC+ expected to extend production cuts. * Yen steadies as reports ruffle rate hike bets. By Tom Westbrook. Bitcoin broke $100,000 on Thursday as investors bet on a friendly regulatory shift in the U.S., while Asian stocks were firm after Wall Street indexes notched record highs on growing confidence in U.S. interest rate cuts.
* Markets price more US rate cuts in 2025. * OPEC+ expected to extend production cuts. * Yen steadies as reports ruffle rate hike bets. By Tom Westbrook. Asian stocks were mixed on Thursday in the wake of record peaks on Wall Street as a softer read on U.S. services data boosted investor confidence in the Fed lowering interest rates.
Bank of Japan board member Toyoaki Nakamura said on Thursday the central bank must move "cautiously" in raising interest rates, as smaller firms have yet to see profitability strengthen enough to weather higher borrowing costs. "I am personally not confident about the sustainability of wage growth," Nakamura said in a speech to business leaders in the western Japan city of Hiroshima.
* FITCH RATINGS: CHINA'S HOMEBUILDERS BRACE FOR ANOTHER TOUGH YEAR IN 2025. * FITCH RATINGS - HOME SALES IN CHINA WILL CONTINUE TO DECLINE BY 15% Source text:
Federal Reserve Chair Jerome Powell said the U.S. economy remains strong and even commented on Bitcoin at the New York Times DealBook Summit on Wednesday. The Details: "The U.S. economy is in very good shape right now.
AM Best has assigned a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of ?a-? to Santam Limited. The ratings reflect Santam?s consolidated 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.
Tapestry, Inc. (TPR) a house of iconic accessories and lifestyle brands consisting of Coach, Kate Spade, and Stuart Weitzman, announced the pricing of its offering of $750.0 million aggregate principal amount of 5.100% senior unsecured notes due 2030 and $750.0 million aggregate principal amount of 5.500% senior unsecured notes due 2035.
Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026 MARA Holdings, Inc. (MARA), a global leader in leveraging digital asset compute to support the energy transformation, today announced the closing on December 4, 2024 of its offering of 0.00% convertible senior notes due 2031.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of AuguStar Life Insurance Company and its wholly owned subsidiary, AuguStar Life Assurance Corporation.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Insurance Corporation of Barbados Limited. The ratings reflect ICBL?s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
* U.S. stocks rise on strong tech earnings. * Dollar, euro steady despite political turmoil in France. * Won near 2-year low amid South Korean political upheaval. * Treasury yields fall. By Lawrence Delevingne.
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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