Wall Street's equity indexes rallied on Friday, with the Dow Jones Industrial Average hitting a record high as Federal Reserve Chair Jerome Powell hinted at a potential shift in monetary policy toward lower interest rates. The Dow finished 1.9% higher at 45,631.7, an all-time closing high. Barring consumer staples, all sectors were higher, led by consumer discretionary's 3.2% gain.
US equity indexes soared on Friday after a dovish policy pivot signal from Federal Reserve Chair Jerome Powell sparked a rally in risk assets. The Dow Jones Industrial Average traded 1.9% higher at 45,631.74, after touching a record 45,732.11 intraday.
The Standard & Poor's 500 index rose 0.3% this week as investors grew more hopeful for a rate cut at the next meeting of policy makers at the Federal Reserve. The market benchmark ended the week at 6,466.91, making its third consecutive week in the black.
US benchmark equity indexes ended higher on Friday as the Dow Jones Industrial Average jumped to a record after Federal Reserve Chair Jerome Powell signaled that the central bank may start cutting interest rates in September.
Munis underperformed a UST rally, which had everything to do with Powell's speech at the Jackson Hole symposium and future Fed action, said Cooper Howard, a fixed income strategist at Charles Schwab.
US equity indexes jumped on Friday, with the S&P 500 likely to break its five-day losing streak and the Dow Jones Industrial Average surging over 800 points after Federal Reserve Chair Jerome Powell signaled a dovish policy pivot. The Dow Jones Industrial Average traded 1.9% higher at 45,630.4, after touching a record 45,732.11 earlier in the session.
Financial stocks advanced in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising 1.6%. The Philadelphia Housing Index jumped 4.6%, and the Real Estate Select Sector SPDR Fund gained 1.6%. Bitcoin rose 4% to $116,780, and the yield for 10-year US Treasuries dropped 7.4 basis points to 4.26%. In economic news, Federal Reserve Chair Jer...
PayPal Holdings Inc (PYPL) shares are surging Friday after Federal Reserve Chair Jerome Powell struck a surprisingly dovish tone at Jackson Hole, signaling that rate cuts may soon be on the horizon as the labor market cools. What To Know: For growth companies like PayPal (PYPL), interest rates play a pivotal role.
Amazon.com Inc (AMZN) shares are trading higher Friday afternoon after Federal Reserve Chair Jerome Powell struck a surprisingly dovish tone at Jackson Hole, signaling that rate cuts could be on the horizon as the labor market cools and economic growth slows. What To Know: For growth companies like Amazon (AMZN), lower interest rates are particularly bullish.
Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising 1.6%. The Philadelphia Housing Index was climbing 4.5%, and the Real Estate Select Sector SPDR Fund was up 1.6%. Bitcoin was increasing 4% to $116,780, and the yield for 10-year US Treasuries dropped 7.4 basis points to 4.26%. In economic news, Fe...
National Bank, ahead of the release of Q2 GDP data next Friday, noted household consumption, residential investment, government spending, and inventory accumulation are all expected to contribute to GDP growth during the quarter.
The University of Chicago went to market this week, as the Trump administration has targeted higher education and faculty criticize budget and program cuts.
Federal Reserve Chair Jerome Powell just gave Wall Street?and Main Street?a reason to celebrate. In a closely watched speech at the Fed's annual Jackson Hole conference, Powell sent a clear signal that the central bank is preparing to shift its stance on interest rates as early as next month.
The major economic indicator on the Canadian calendar next week will be quarterly GDP on Friday, Aug 29, noted BMO's Douglas Porter in his weekly 'Talking Points' note.
Federal Reserve Governor Jerome Powell left open the door to a September rate cut in his Friday speech at Jackson Hole, saying that downside risks to the employment mandate have increased, but he also said that the Federal Open Market Committee remains data-dependent and that the impact of tariffs on inflation may have only begun.
US benchmark equity indexes surged intraday, while Treasury yields slumped, after Federal Reserve Chair Jerome Powell indicated a potential monetary policy pivot to lower rates. The Dow Jones Industrial Average and the Nasdaq Composite were up 2.1% each at 45,715.6 and 21,533.5, respectively, after midday Friday.
According to Avery Shenfeld, CIBC sees Q2 GDP coming in next Friday a "bit better" than the Bank of Canada's last projection, but with a larger dip than the consensus or what the monthly GDP series has been tracking.
Gold prices rose midafternoon on Friday as the dollar fell sharply following a dovish speech from Federal Reserve Chair Jerome Powell indicating the central bank is ready to begin lowering interest rates again. Gold for December delivery was last seen up US$35.60 to US$3,417.20 per ounce, sticking within the narrow range it has mostly traded within since April.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising about 1.8%. The Philadelphia Housing Index was climbing 4.8%, and the Real Estate Select Sector SPDR Fund was up 1.8%. Bitcoin was increasing 3.6% to $116,559, and the yield for 10-year US Treasuries was dropping 7 basis points to 4.26%. In economic ne...
Shares of SoFi Technologies Inc (SOFI) are climbing Friday afternoon, hitting a new 52-week high, after Federal Reserve Chair Jerome Powell struck a notably dovish tone in his Jackson Hole remarks, signaling that downside risks to the labor market are rising and that interest rate cuts may be warranted if the slowdown deepens.
US equity indexes soared as bets favoring monetary policy easing in September rose after a potential monetary policy pivot signal from Federal Reserve Chair Jerome Powell sent yields on government bonds sharply higher. The Dow Jones Industrial Average traded 2% higher at 45,699.9, after touching a record 45,732.11 earlier in the session. All sectors except consumer staples rose intraday.
Federal Reserve Chair Jerome Powell struck a more dovish tone than expected in a keynote speech, boosting market bets on an interest rate cut next month, while analysts cautioned that a move in September isn't guaranteed.
Shares of Plug Power Inc (PLUG) are trading higher Friday afternoon following Federal Reserve Chair Jerome Powell's dovish Jackson Hole remarks, as investors reposition toward growth equities amid rising odds of interest rate cuts. What To Know: Powell warned that "downside risks to employment are rising" and emphasized the Fed's willingness to adjust monetary policy should job losses accelerate.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising 1.8%. The Philadelphia Housing Index was climbing 4.8%, and the Real Estate Select Sector SPDR Fund was up 1.8%. Bitcoin was increasing 3.6% to $116,559, and the yield for 10-year US Treasuries was dropping 7 basis points to 4.26%. In economic news, Fe...
Broad Market Indicators. Broad-market exchange-traded funds IWM and IVV were higher. US equity indexes surged after midday trading on Friday as bets in favor of a restart of monetary policy easing in September soared after Federal Reserve Chair Jerome Powell indicated a potential policy pivot. Energy. iShares US Energy ETF and the Energy Select Sector SPDR each rose about 2.1%. Technology.
The State Bond Commission approved 21 municipal entities' elections on tax increases for infrastructure projects, with the increases possibly supporting bonds.
A state lawmaker is asking the court to invalidate a 2022 nearly $700 million bond sale due to inadequate audits by the Oklahoma Corporation Commission.
US equity indexes surged after midday trading on Friday as bets in favor of a restart of monetary policy easing in September soared after Federal Reserve Chair Jerome Powell indicated a potential policy pivot. The Dow Jones Industrial Average was 2.1% higher at 45,720.3, after touching a record 45,732.11 earlier in the session. All sectors except consumer staples rose intraday.
Palantir Technologies Inc (PLTR) shares are trading higher Friday morning following Federal Reserve Chair Jerome Powell's unexpectedly dovish comments at Jackson Hole, which signaled that interest rate cuts may soon be on the table as labor market risks mount. What To Know: For growth companies like Palantir (PLTR), lower interest rates can be a powerful tailwind.
Federal Reserve Chair Jerome Powell on Friday used his Jackson Hole speech to acknowledge rising risks to U.S. employment, signaling the central bank may be preparing to shift its policy stance. What Happened: His remarks marked the clearest indication yet that future rate cuts are possible if labor market weakness deepens.
Federal Reserve Chair Jerome Powell on Friday indicated a potential monetary policy pivot to lower rates, saying that downside risks to employment were rising while the effects of tariffs on inflation will likely be short lived. Data released earlier this month showed that the US economy added fewer jobs than projected in July, while gains in the previous two months were revised sharply lower.
Cameco's (CCJ) price target was increased to C$115 from $110 while its Outperform rating remained unchanged at National Bank of Canada, according to a note published Thursday in which the bank re-values Westinghouse inside Cameo and addresses "unlocking the hidden multiple".
Federal Reserve Chair Jerome Powell used his Jackson Hole speech to strike a surprisingly dovish tone, warning that downside risks to the U.S. labor market are rising and that monetary policy "may warrant adjusting" if the economic slowdown deepens. Many economists had expected Powell to avoid any hint of a rate cut, instead reiterating the Fed's wait-and-see stance.
Federal Reserve Chairman Jerome Powell opened the door to interest rate reductions in his keynote address at the Jackson Hole Fed summit Friday, but stopped short of promising a reduction at the Sept. 16-17 Federal Open Market Committee meeting. "In the near term, risks to inflation are tilted to the upside, and risks to employment to the downside -- a challenging situation," Powell said.
Jim Haddon equates working in the financial world with a competitive event, which in the case of his multi-faceted career, would make him a decathlon winner. "What has kept me interested in the financial world is I enjoy the competition," said Haddon.
Gold prices fell early on Friday even as the dollar was steady ahead of a key speech from Federal Reserve Chair Jerome Powell, as traders await some indication of the central bank's outlook for interest rates. Gold for December delivery was last seen down US$11.40 to US$3,370.20 per ounce, sticking within the narrow range it has mostly traded within since April.
US stocks are set to open higher in Friday's trading session as investors look ahead to Federal Reserve Chair Jerome Powell's speech at the Fed's annual economic symposium in Jackson Hole, Wyoming, at 10 am ET. Dow Jones Industrial Average futures were up 0.27%, S&P 500 futures rose 0.18%, and Nasdaq futures were 0.12% higher.
Bread Financial Holdings (BFH) said Friday that its previously announced cash tender offers dated July 24, expired on Thursday. The company said that for the 9.750% senior notes due 2029, bondholders tendered $31.3 million worth of bonds from the $750 million outstanding.
US stock futures are tracking higher in Friday's premarket session as investors look ahead to Federal Reserve Chair Jerome Powell's speech at the Fed's annual economic symposium in Jackson Hole, Wyoming, at 10 am ET. The Dow Jones Industrial Average futures were up 0.27%, S&P 500 futures rose 0.18%, and Nasdaq futures were 0.12% higher.
The German statistical office on Friday revised down Q2 gross domestic product contraction to 0.3% quarter over quarter from a 0.1% decline, noted Berenberg. Weak June data, including for industrial production and construction, that wasn't available at the time of the first GDP estimate, had already strongly hinted at a downward adjustment, noted the bank.
Switzerland's data calendar is light next week, with. employment figures on Monday, Q2 gross domestic product on Thursday, and the KOF Leading Indicator on Friday offering a snapshot of the economy, said UBS.
European bourses tracked moderately higher midday Friday as traders awaited comments from US Federal Reserve Chair Jerome Powell, slated for 10 am ET at the central bank's annual symposium at Jackson Hole. Retail and tech stocks led broad, tempered gains on the continent, while bank issues lagged.
The benchmark US stock measures were trending higher before the opening bell Friday as traders await Federal Reserve Chair Jerome Powell's speech for clues on the central bank's next policy moves.
Wall Street futures pointed moderately higher pre-bell Friday as traders awaited comments from Federal Reserve Chair Jerome Powell, slated for 10 am ET at the central bank's annual symposium in Jackson Hole, Wyoming. The next Fed policy meeting is Sept. 16-17, and Powell's presentation will be combed for clues to central bank inclinations.
Commerzbank in its "European Sunrise" note of Friday highlighted: Markets: Long-end United States Treasury yields decline in late New York session after strong TIPS auction, steady in Asia. Fed: Federal Reserve Cleveland President Beth Hammack says she wouldn't cut rates if a decision were to be made on Saturday.
Asian stock markets moved mostly higher Friday as traders awaited comments by Federal Reserve Chair Jerome Powell at the central bank's Jackson Hole symposium, and weighed relative values on China-exposed exchanges. Hong Kong, Shanghai, and Tokyo finished in the green, while other regional exchanges were mixed.
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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