U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 100 points on Thursday. The Dow traded up 0.55% to 42,557.62 while the NASDAQ rose 0.52% to 19,492.93. The S&P 500 also rose, gaining, 0.46% to 5,899.14. Check This Out: Top 3 Consumer Stocks You May Want To Dump This Quarter Leading and Lagging SectorsUtilities shares rose by 1.3% on Thursday.
A bipartisan agreement on a continuing resolution to keep the government open fell apart after intervention from President-elect Trump and Elon Musk, raising concerns about federal funds flowing to states, local governments, and infrastructure projects.
The central Texas city of Clyde said it issued tax and revenue anticipation notes with a 9.5% interest rate to repay its insurers after an Aug. 1 bond default.
- A slightly more hawkish set of Federal Reserve regional bank presidents will become voters on the U.S. central bank's rate-setting panel in 2025, raising the chance that any further interest rate cuts next year could spur more dissents like the one seen on Wednesday from the head of the Cleveland Fed.
- A slightly more hawkish set of Federal Reserve regional bank presidents will become voters on the U.S. central bank's rate-setting panel in 2025, raising the chance that any further interest rate cuts next year could spur more dissents like the one seen on Wednesday from the head of the Cleveland Fed.
- The Federal Reserve Bank of New York on Thursday said it will add an extra operation of its standing repo facility in the days covering the end of the calendar year into early January.
U.S. mortgage rates increased this week following three straight weekly declines and could rise further after the Federal Reserve projected fewer interest rate cuts in 2025, boosting the yield on the 10-year Treasury note.
U.S. mortgage rates increased this week following three straight weekly declines and could rise further after the Federal Reserve projected fewer interest rate cuts in 2025, boosting the yield on the 10-year Treasury note.
The number of Americans filing new applications for jobless benefits fell more than expected last week, almost reversing the prior two weeks' increases and suggesting that a gradual labor market slowdown remained in place. Other data on Thursday showed the economy grew faster than previously estimated in the third quarter, driven by robust consumer spending.
Federal Home Loan Bank of Atlanta today announced the recipients of its 2024 Affordable Housing Program General Fund awards. For the complete list of 2024 awards, click here. ?Each year, we are proud of how our member institutions leverage this annual fund to strengthen their communities and expand access to affordable housing,? said FHLBank Atlanta President and CEO Kirk Malmberg.
The International Monetary Fund views Wednesday's Federal Reserve interest rate cut and adoption of a more cautious outlook as appropriate given high U.S. economic uncertainty, IMF spokesperson Julie Kozack said on Thursday.
* US 10-year yields hit fresh 6-1/2-month high. * US 30-year yields rise to highest since early May. * US 2/10 yield curve steepens, widest gap in more than two years. * US rate futures price in fewer than two cuts in 2025. By Gertrude Chavez-Dreyfuss and Stefano Rebaudo.
If markets hope to recover from the sharp sell-off triggered by the Federal Reserve?s December meeting, Friday's release of the Personal Consumption Expenditure price index ? widely regarded as the Fed?s preferred inflation measure ? will play a crucial role. Unfortunately for investors, the outlook is far from reassuring.
Applied Materials Inc (AMAT) shares are trading lower by 1.48% to $163.11 during Wednesday?s session following the Federal Reserve?s cautious pivot on interest rate policy, alongside broader sector challenges.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.72 percent. ?This week, mortgage rates crept up to a similar average as this time in 2023,? said Sam Khater, Freddie Mac?s Chief Economist.
Euro zone long-dated government bond yields jumped on Thursday, after the Federal Reserve cut interest rates but signalled it would slow the pace of easing in 2025. Germany's 10-year yield, the euro area's benchmark, rose 7 basis points to 2.31%, after touching 2.322%, its highest level since Nov. 22.
It's hard enough convincing local governments to spend money on cyber insurance that covers ransomware attacks, said Omid Rahmani, public finance cybersecurity lead at Fitch Ratings. The new and very specific threat of a hacked financing process, is "absolutely" underappreciated by the public finance industry.
* U.S. stocks recover from steepest selloff in months. * 3Q U.S. GDP revised up to 3.1% from 2.8% * European, Asian stocks lower after Fed meeting. * Dollar gives back some gains; gold rebounds. * Benchmark Treasury yields hit highest since May. By Stephen Culp.
The International Monetary Fund views Wednesday's Federal Reserve interest rate cut and adoption of a more cautious outlook as appropriate given high U.S. economic uncertainty, IMF spokesperson Julie Kozack said on Thursday.
* Fed projects fewer rate cuts in 2025. * Gold hits lowest since Nov. 18 earlier in the session. * Investors await US PCE data due on Friday. By Sherin Elizabeth Varghese. Gold prices traded around flat on Thursday, erasing earlier gains after U.S. data reinforced market expectations the Federal Reserve will take a cautious approach to policy easing in the year ahead.
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AM Best has downgraded the Financial Strength Rating to C++ from B and the Long-Term Issuer Credit Ratings to ?b+? from ?bb? of Blue Cross and Blue Shield of Vermont and its subsidiary, The Vermont Health Plan, LLC, collectively known as Blue Cross and Blue Shield of VT Group.
The Freddie Mac Multifamily Apartment Investment Market Index? rose nationwide by 5.3% quarter-over-quarter and 9.2% year-over-year, according to new data released today, continuing an upward trend. ?AIMI increased as mortgage rates fell, decreasing the cost of financing,? said Sara Hoffmann, senior director of Multifamily Research at Freddie Mac.
The Federal Reserve Bank of New York on Thursday said it will add an extra operation of its standing repo facility in the days covering the end of the calendar year into early January.
* Dollar gives up some gains after surging on Fed. * Yen tumbles after BOJ's Ueda stresses patience. * Strong US Q3 GDP data lends dollar support. By Alden Bentley, Harry Robertson, Rae Wee and Vidya Ranganathan.
AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating to ?bbb+? from ?bbb? and affirmed the Financial Strength Rating of B++ of Physicians Health Plan of Northern Indiana, Inc.. The outlook assigned to these Credit Ratings is positive.
Bank of England policymakers voted 6-3 to keep interest rates on hold on Thursday, a bigger split than economists had predicted as officials disagreed over how to respond to a slowing economy that remains beset by inflation pressures.
* Weekly jobless claims fall 22,000 to 220,000. * Continuing claims drop 5,000 to 1.874 million. * Third-quarter GDP growth revised up to 3.1% rate. * Consumer spending growth upgraded, trade deficit trimmed. By Lucia Mutikani.
Brazil's central bank chief Roberto Campos Neto said on Thursday that there is an unusually large year-end outflow of U.S. dollars, after the Brazilian real recently hit all-time lows. Campos Neto dismissed the idea that the local currency depreciation, impacting interest rate futures, was tied to fiscal dominance.
U.S. existing home sales surged to an eight-month high in November, but higher mortgage rates and house prices remain a constraint heading into 2025. Home sales jumped 4.8% last month to a seasonally adjusted annual rate of 4.15 million units, the highest level since March, the National Association of Realtors said on Thursday.
* Higher mortgage rates, prices constrain future market. * Fed projects fewer rate cuts despite economic resilience. * Trump policies may impact housing supply and prices. U.S. existing home sales surged to an eight-month high in November, but higher mortgage rates and house prices remain a constraint heading into 2025.
NEW YORK, Dec. 19, 2024 The Conference Board Leading Economic Index? for the US increased by 0.3% in November 2024 to 99.7, nearly reversing its 0.4% decline in October. "The US LEI rose in November for the first time since February 2022," said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.
Key Highlights Existing-home sales grew in November, according to the National Association of Realtors?. Sales advanced in three major U.S. regions and remained steady in the West. # # # For local information, please contact the local association of Realtors? for data from local multiple listing services.
ATS Corporation (ATS) confirmed today that it has successfully closed its previously announced private placement offering of C$200 million aggregate principal amount of 6.50% senior unsecured notes due August 21, 2032.
* Some in Fed pencil in slower rate cuts on Trump uncertainty. * BoJ, BoE, Norwegian, Swedish central banks stress caution. * Bitcoin enthusiasm dented by Powell comments. * Uncertainty grows as Trump rejects funding bill. By Dan Burns and Howard Schneider.
- A gauge of manufacturing activity in the U.S. Mid-Atlantic region slid to the lowest in nearly two years in December, with new orders and shipments both contracting in an indication the factory sector remains in a slump.
Greystone, a leading national commercial real estate finance company, announced it has assisted Cedar Rapids Bank and Trust in completing a $157 million Freddie Mac Q-Series securitization.
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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