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The Federal Reserve announced on Wednesday it would be testing big banks against heightened stress in commercial and residential real estate markets as part of the U.S. central bank's annual stress tests.
The Federal Reserve announced on Wednesday it would be testing big banks against heightened stress in commercial and residential real estate markets as part of its annual stress tests.
* Alphabet earnings weigh on AI stocks. * * Record U.S. imports widens trade gap, services weaken. * Gold hits new peak amid trade tensions. By Stephen Culp. U.S. stocks ended a see-saw session with gains and benchmark Treasury yields slid on Wednesday as disappointing earnings and mixed economic data counterbalanced easing jitters of a spreading global trade war.
* US 10-year yield hits lowest since mid-December. * US two-year yield falls to lowest since December 12. * US two/10-year curve flattens, narrowest gap since December 23. * US Treasury keeps auction sizes unchanged in refunding statement. By Gertrude Chavez-Dreyfuss.
* FMC plunges on lower quarterly revenue forecast. * Alphabet falls after downbeat earnings, heavy AI spend. By Abigail Summerville and Shashwat Chauhan.
* US 10-year yield hits lowest since mid-December. * US two-year yield falls to lowest since December 12. * US two/10-year curve flattens, narrowest gap since December 23. * US Treasury keeps auction sizes unchanged in refunding statement. By Gertrude Chavez-Dreyfuss.
* Loonie touches a 2-week high at 1.4266. * Canada posts first trade surplus in 10 months. * Price of U.S. oil settles 2.3% lower. * Bond yields ease across the curve. By Fergal Smith.
* Fed officials cautious on outlook for interest rate cuts. * Goolsbee says tariffs could impact inflation, supply chains. * Barkin notes complexity of tariffs' impact on inflation, demand. By Ann Saphir, Howard Schneider.
* Alphabet earnings weigh on AI stocks. * Europe shares helped by Novo Nordisk beat. * Record U.S. imports widens trade gap, services weaken. * Gold hits new peak amid trade tensions. By Stephen Culp.
* FMC plunges 33% on lower quarterly revenue forecast. * Alphabet falls nearly 8% after downbeat earnings, heavy AI spend. * Indexes: Dow up 0.47%, S&P 500 up 0.19%, Nasdaq down 0.07% By Abigail Summerville and Shashwat Chauhan.
- Chicago Federal Reserve President Austan Goolsbee warned on Wednesday that ignoring the potential inflationary impact of tariffs would be a mistake, citing the COVID-19 pandemic experience where supply chain disruptions drove up inflation.
- Chicago Federal Reserve President Austan Goolsbee warned on Wednesday that ignoring the potential inflationary impact of tariffs would be a mistake, citing the COVID-19 pandemic experience where supply chain disruptions drove up inflation.
The U.S. trade deficit widened sharply in December as imports surged to a record high against the backdrop of tariff threats, which might have prompted businesses to rush purchases of foreign-made goods like finished metals and computers.
Mexico's central bank will likely cut its benchmark interest rate by 50 basis points later this week, taking it to 9.50%, a Reuters poll showed on Wednesday, as inflation cools and the economy notched a slight contraction late last year.
* Alphabet earnings weigh on AI stocks. * * Record U.S. imports widens trade gap, services weaken. * Gold hits new peak amid trade tensions. By Stephen Culp. Wall Street struggled for direction and benchmark Treasury yields slid on Wednesday as disappointing earnings and mixed economic data counterbalanced easing jitters of a spreading global trade war.
* US 10-year yield hits lowest since mid-December. * US two-year yield falls to lowest since Dec. 12. * US two/10-year yield curve flattens, narrowest gap since Dec. 23. By Gertrude Chavez-Dreyfuss.
The U.S. move to freeze billions in financial aid boosts the need for New York State to alter a law in support of countries struggling to pay back debt, Nobel Prize laureate Joseph Stiglitz told Reuters.
The European Central bank may need to cut interest rates below a neutral level to stimulate economic growth as inflation is at risk of falling below the bank's 2% target, ECB policymaker Mario Centeno told Reuters on Wednesday.
* Trade deficit increases 24.7% to $98.4 billion in December. * Trade gap at $918.4 billion in 2024, largest since 2021. * Imports jump 3.5% in December to record high $364.9 billion. * Exports decrease 2.6% to $266.5 billion. * Goods deficit widens with Canada, shrinks with China, Mexico. By Lucia Mutikani.
Federal Reserve officials on Wednesday pointed to the large policy uncertainty around tariffs and other issues arising from the early days of President Donald Trump's administration as among the top challenges in figuring out where to take U.S. monetary policy in the months ahead.
U.S. services sector activity unexpectedly slowed in January amid cooling demand, helping to curb price growth. The Institute for Supply Management said on Wednesday its nonmanufacturing purchasing managers index slipped to 52.8 last month from 54.0 in December. A PMI reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of the economy.
U.S. services sector activity unexpectedly slowed in January amid cooling demand, helping to curb price growth. The Institute for Supply Management said on Wednesday its nonmanufacturing purchasing managers index slipped to 52.8 last month from 54.0 in December. A PMI reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of the economy.
Greater Toronto Area home sales rebounded in January as new listings climbed, while home prices were little changed after two straight months of increases, data from the Toronto Regional Real Estate Board showed on Wednesday. Seasonally adjusted sales rose 10% on a month-over-month basis in January to 5,971 units after tumbling 18.2% in December.
Canada's services economy deteriorated for the second straight month in January as uncertainty generated by the threat of U.S. trade tariffs offset lower borrowing costs, S&P Global's Canada services PMI data showed on Wednesday. The headline Business Activity Index rose to 49.0 from 48.2 in December but remained below the 50.0 no-change mark.
SAO PAULO, Feb 5 (Reuters - Industrial production in Brazil expanded in 2024, official data showed on Wednesday, but a third consecutive monthly drop in December reinforced signs of an economic slowdown.
The U.S. trade deficit widened sharply in December as imports surged to a record high against the backdrop of tariff threats, which might have prompted businesses to rush purchases of foreign-made goods like finished metals and computers.
The U.S. trade deficit widened sharply in December as imports surged to a record high against the backdrop of tariff threats. The trade gap increased 24.7% to $98.4 billion, the highest since March 2022, from a revised $78.9 billion in November, the Commerce Department's Bureau of Economic Analysis said on Wednesday.
* Canada reports December surplus of C$708 million. * Exports grew by 4.9% and imports expanded by 2.3% * Trade surplus with U.S. widened to C$11.3 billion. By Promit Mukherjee.
U.S. private payrolls growth picked up in January, the ADP National Employment Report showed on Wednesday. Private payrolls increased by 183,000 jobs last month after an upwardly revised 176,000 rise in December.
The U.S. Federal Reserve is still leaning towards further rate cuts this year although uncertainty about the impact of new tariff, immigration, regulatory and other Trump administration initiatives will need to be better understood, Richmond Fed president Tom Barkin said Wednesday.
U.S. private payrolls growth picked up in January, the ADP National Employment Report showed on Wednesday. Private payrolls increased by 183,000 jobs last month after an upwardly revised 176,000 rise in December.
U.S. stocks ended a see-saw session with gains and benchmark Treasury yields slid on Wednesday as disappointing earnings and mixed economic data counterbalanced easing jitters of a spreading global trade war.
U.S. stocks ended a see-saw session with gains and benchmark Treasury yields slid on Wednesday as disappointing earnings and mixed economic data counterbalanced easing jitters of a spreading global trade war.
* Dollar loses out to yen, Treasury yields ease. * Wall St futures dip after Alphabet earnings disappoint. * Gold at record; Europe stocks helped by Novo Nordisk beat. * Gold hits new peak amid trade tensions. By Wayne Cole and Amanda Cooper.
Euro area government bond yields dropped to multi-week lows on Wednesday as investors feared a possible disinflationary impact of U.S. tariffs, which could lead the European Central Bank to deepen its easing path. Investors also await updated estimates of the so-called neutral rate that the ECB staff will publish on Friday.
-The S&P 500 and the Dow rose on Wednesday, as investors started to brush off disappointing Alphabet earnings and weighed the prospect of future interest rate cuts from the U.S. Federal Reserve. Google-parent Alphabet dropped 7.3% after posting downbeat cloud revenue growth on Tuesday and earmarking a higher-than-expected $75 billion investment for its AI buildout this year.
-All three major stock indexes closed higher on Wednesday, rebounding from declines earlier in the session as investors brushed off disappointing Alphabet earnings and weighed the prospect of future interest rate cuts from the U.S. Federal Reserve.
The pound rose to its highest in a month on Wednesday as the dollar retreated further after surging two days ago on the threat of sweeping U.S. tariffs, while the focus in UK markets turned to the Bank of England rate decision on Thursday.
- Morgan Stanley joined Barclays and Macquarie in forecasting a single 25 basis point interest rate cut by the U.S. Federal Reserve this year, citing uncertainty from President Donald Trump's tariff policy. The Wall Street brokerage had previously said it expected two 25 bps rate cuts in March and June. Peers Goldman Sachs and Wells Fargo continue to expect two interest rate cuts this year.
Ukraine's GDP warrants rallied nearly 2 cents on Wednesday as Ukraine and Russia said they were in touch with the team of U.S. President Donald Trump about the two countries' near 3-year long war. Tradeweb data showed the warrants rose to a bid price of 86 cents, their highest since January 2022, a month before Russia's full-scale invasion.
* Dollar loses out to yen, Treasury yields ease. * Wall St futures dip after Alphabet earnings disappoint. * Gold at record; Europe stocks helped by Novo Nordisk beat. * Gold hits new peak amid trade tensions. By Wayne Cole and Amanda Cooper.
British services firms lost momentum last month as a looming rise in employer taxes led to the fastest job cuts in four years but price pressures remained strong, according to a survey that underscored the challenge facing the Bank of England this week.
Euro area benchmark Bund yields edged down near to their one-month low as investors worried about the possible deflationary impact of U.S. tariffs. Analysts reckoned that U.S. import duties could lead the European Central Bank to deepen its monetary easing path.
Japan's Nikkei share average ended marginally higher in volatile trade on Wednesday as the index's early gains were erased by worries over rising bets for an interest rate hike by the Bank of Japan and a stronger yen. The Nikkei closed 0.09% higher at 38,831.48, after rising as much as 0.8% in early trade to track Wall Street's gains.
From the Western world's biggest economic car crash to an emerging bridge between trade-warring superpowers, Britain's shifting 2025 narrative is hard to keep up with. Neither angle will likely turn out to be the 'right' one. This 180-degree turn in the mood surrounding the UK since mid-January is surely welcomed by the Bank of England, which is holding its first policy meeting of 2025 this week.
Uganda's police have detained nine finance ministry officials as part of an investigation into accusations of hacking the central bank's electronic systems that resulted in theft of 62 billion shillings, the ministry and police said. In November last year, State Minister for Finance Henry Musasizi confirmed reports in local media that the central bank's accounts had been hacked and money stolen.
* China sets firm fix for yuan, soothing devaluation worry. * Wall St futures dip after Alphabet earnings disappoint. * Dollar loses ground to yen, Treasury yields ease. * Gold hits new peak amid trade tensions. By Wayne Cole.
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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