Traders on Thursday placed rising but still shy of even odds the Federal Reserve will cut its policy rate in July instead of waiting until September, after data showed wholesale prices rose faster than projected in January and jobless claims declined.
Inflation is back in the spotlight as broad-based price pressures hit U.S. producers in January 2025, fueling concerns that businesses will either absorb rising costs or pass them to consumers and dampening hopes for Federal Reserve interest rate cuts. The Producer Price Index surged 3.5% year over year in January, according to Thursday's release from the Bureau of Labor Statistics.
The number of Americans filing new applications for unemployment benefits decreased last week, suggesting the labor market remained stable early in February. Initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 213,000 for the week ended February 8, the Labor Department said on Thursday.
The number of Americans filing new applications for unemployment benefits decreased last week, suggesting the labor market remained stable early in February. Initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 213,000 for the week ended February 8, the Labor Department said on Thursday.
U.S. producer prices increased solidly in January, offering more evidence inflation was picking up again and strengthening financial market views that the Federal Reserve would not be cutting interest rates before the second half of the year.
U.S. producer prices increased solidly in January, offering more evidence inflation was picking up again and strengthening financial market views that the Federal Reserve would not be cutting interest rates before the second half of the year.
* Euro rises as US plans Russia-Ukraine peace talks. * Hotter-than-expected US CPI adds to bets Fed will hold rates higher for longer. * Markets ready for Trump's reciprocal tariffs. * US PPI in spotlight. By Brigid Riley and Greta Rosen Fondahn.
Freddie Mac today reported its Fourth Quarter and Full-Year 2024 financial results and filed its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission. The company will hold a call at 9 a.m. Eastern Time today, February 13, 2025, to share its results with the media. Freddie Mac?s mission is to make home possible for families across the nation.
Retail sales volumes in Brazil fell in December from the previous month, statistics agency IBGE said on Thursday, adding to signs the economy slowed at the end of last year despite a strong 2024 overall. Sales in Latin America's largest economy were down 0.1% in December from November, the second consecutive monthly drop.
- Britain entered a rare deficit in its goods trade with the United States at the end of last year, according to data published on Thursday that London will hope bolsters its case against the imposition of new tariffs by President Donald Trump.
PG&E Corp (PCG) on Thursday raised its adjusted core earnings forecast for 2025, as the power company benefits from lower operating expenses and higher electricity rates. Last month, the California Public Utilities Commission approved another request from the company to raise electricity prices after a series of similar hike approvals last year.
Futures for Canada's main stock index edged up on Thursday, supported by strength in precious metals, while investors await U.S. producer price data which could cement or dilute rate-cut prospects by the U.S. Federal Reserve. March futures on the S&P/TSX index were up 0.1% at 6.47 a.m. ET.
Short-term investor expectations for U.S. inflation hit their highest since 2022 on Thursday, following a hot read of consumer prices the day before that put nominal Treasuries under pressure.
* Euro rallies as US plans Russia-Ukraine peace talks. * Hotter-than-expected US CPI adds to bets Fed will hold rates higher for longer. * US PPI in spotlight. By Brigid Riley and Greta Rosen Fondahn.
Stellantis NV (STLA): * LEASYS PRICES EURO 500 MILLION EURO MEDIUM TERMS NOTE PROGRAMME ISSUANCE. * UNSECURED SENIOR DEBT SECURITIES DUE AUGUST 2027, WITH FIXED RATE COUPON SET AT 2.875% Source text: https://tinyurl.com/895tw5ua Further company coverage:
Swiss annual inflation slowed to 0.4% in January, its lowest rate since April 2021 and in line with expectations, official data showed on Thursday, creating more scope for interest rate cuts by the Swiss National Bank.
The German economy will contract by 0.5% this year, shrinking for a third consecutive year, the German Chamber of Commerce and Industry said on Thursday, forecasting the longest period of weakness in Germany's post-war history.
Sterling jumped on Thursday after data showed the British economy unexpectedly grew in the final quarter of last year, offering some respite from an otherwise downbeat economic outlook. The pound rose 0.57% to $1.25155 against the dollar, to its highest in over a week. Britain's economy grew by 0.1% in the fourth quarter, figures from the Office for National Statistics showed.
* Euro rallies as US plans Russia-Ukraine peace talks. * Hotter-than-expected U.S. CPI adds to bets Fed will hold rates higher for longer. * U.S. PPI in spotlight. By Brigid Riley.
Most economists expect the Bank of Japan to raise short-term interest rates again in the latter half of this year, a monthly survey on economists conducted by private think tank Japan Center for Economic Research showed on Thursday.
The following are key quotes from a Reuters interview with Croatian central bank Governor and ECB policymaker Boris Vujcic. * Economic and inflation developments remain in line with the baseline we projected in December. * The market is pricing three more rate cuts this year. * The exchange rate is one factor we consider but, at the current level, it's not something we need to worry about.
Japan's 10-year government bond yield hit a near 15-year high on Thursday, after U.S. Treasury yields rose on stronger-than-expected U.S. inflation, while investors braced for an early interest hike by the Bank of Japan as the yen weakened. The 10-year JGB yield touched 1.37%, its highest since April 2010, earlier in the session.
The European Central Bank could cut interest rates three more times this year even if its U.S. counterpart moves more slowly but policy easing is predicated on a rapid fall in underlying inflation, Croatian policymaker Boris Vujcic said.
A gauge of global stocks hit an intraday record on Thursday while U.S. Treasury yields tumbled as an inflation reading fueled hopes the Federal Reserve's preferred measure of prices might be cooler than anticipated.
A gauge of global stocks hit an intraday record on Thursday while U.S. Treasury yields tumbled as an inflation reading fueled hopes the Federal Reserve's preferred measure of prices might be cooler than anticipated.
On Wednesday, U.S. stocks experienced a downturn, with the Dow Jones Industrial Average dropping 225 points to 44,368.56. The Nasdaq Composite saw a marginal increase of 0.03%, settling at 19,649.95, while the S&P 500 fell by 0.3% to 6,051.97. The Consumer Price Index rose to 3% year-over-year, surpassing expectations, which contributed to the market?s overall performance.
* Hotter-than-expected US inflation data pushes up Treasury yields. * Fed expected to maintain higher interest rates longer. * Euro firms as US plans Russia-Ukraine peace talks. By Brigid Riley.
Funds Will Be Used to Resolve Heirs? Property Issues and Support Local Entrepreneurs. The Federal Home Loan Bank of Dallas, through its member Hancock Whitney, awarded $75,000 in Heirs? Property Program grants to Louisiana Appleseed, Desire Community Housing Corporation and Divine Touch Community Development Center at a ceremonial check presentation. This press release features multimedia.
Mexican breadmaker Grupo Bimbo on Wednesday announced a bond issuance on the local market for 15 billion pesos, in two series maturing in three and seven years. Bimbo said it would use the proceeds from the debt offering, which was met with a demand of some 22 billion pesos, for regular operations including investments, working capital and refinancing of liabilities.
Freddie Mac announced today that it plans to report its Fourth Quarter and Full-Year 2024 financial results before the U.S. financial markets open on Thursday, February 13, 2025. The company will hold a call at 9 a.m. Eastern Time on Thursday, February 13, 2025, to share the company?s results with the media. Freddie Mac?s mission is to make home possible for families across the nation.
After a hotter-than-expected Consumer Price Index report, investors are preparing for another high-impact inflation release. On Thursday at 8:30 a.m. ET, markets will scrutinize the Producer Price Index report for January, which sheds light on inflationary pressures at the production level.
* US 10-year yield hits three-week high. * US two-year yield rises to highest since mid-January. * US yield curve steepens, investors continue to sell long end. * US 10-year note auction shows weak results. By Gertrude Chavez-Dreyfuss.
* CVS Health (CVS) rises after beating profit estimates. * Lyft (LYFT) falls as Q1 bookings forecast misses estimates. * January CPI at 3% YoY vs 2.9% estimate. By Noel Randewich and Shashwat Chauhan.
Over two days of testimony this week before Congress, Federal Reserve Chairman Jerome Powell indicated there's no imminent end to the central bank's balance sheet wind down process, as some banks have moved to push back their own end date for a process commonly referred to as quantitative tightening.
Over two days of. testimony. this week before Congress, Federal Reserve Chairman Jerome Powell indicated there's no imminent end to the central bank's balance sheet wind down process, as some banks have moved to push back their own end date for a process commonly referred to as quantitative tightening.
* Energy, food, shelter prices increased. * Powell appeared before House Financial Services Committee. * Traders pare bets on Fed cuts. By Howard Schneider.
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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