Shares of D.R. Horton Inc (DHI) are trading higher Friday morning, boosted by a weaker-than-expected August jobs report that intensified investor bets on imminent interest rate cuts from the Federal Reserve. What To Know: This economic news is proving beneficial for the nation?s largest homebuilder.
The rally stemmed from the weak nonfarm payrolls report and revisions brought down the three-month average to 29,000 jobs per month, further solidifying the chance of a rate cut in September, said Chris Brigati, managing director and CIO at SWBC.
All three major US stock indexes were down in late-morning trading Friday after the Bureau of Labor Statistics reported August payroll figures that came in well below expectations. The August employment report showed nonfarm payrolls rose by 22,000, significantly below the 75,000-job increase expected in a survey compiled by Bloomberg as of 7:30 a.m. ET.
Shares of UWM Holdings Corp (UWMC) are trading higher Friday morning, as a surprisingly weak August jobs report sent waves across Wall Street, fueling expectations of imminent Federal Reserve interest rate cuts. What To Know: The U.S. economy added just 22,000 jobs last month, falling drastically short of the 75,000 economists had anticipated.
At TD Economics, Leslie Preston, managing director and senior economist, said job losses in July and August have more than reversed June's outsized gain, leaving Canada down 39,000 jobs since January. She said the unemployment rate has risen half a percentage point over the same period.
The US economy added fewer jobs than projected in August as the unemployment rate ticked up, indicating a further slowdown in the labor market that prompted some market participants to bet on a bigger interest rate cut by the Federal Reserve later this month.
August's employment report is "somewhat encouraging" after downward revisions in the previous month, which raises the likelihood of a 25 basis point rate cut at the Federal Open Market Committee meeting on Sept. 17, Jefferies analysts said in a note Friday.
Millicom International Cellular (TIGO) subsidiary Telefonica Celular del Paraguay said Friday it planned to redeem $150 million of its 5.875% senior unsecured notes due 2027 on Sept. 15. The notes will be redeemed at a price equal to 100% of the principal amount of the notes redeemed, plus accrued and unpaid interest and additional amounts to, but excluding, the redemption date, the company said.
US stocks look set to open higher in Friday's trading session as investors parse key jobs data showing non-farm payrolls rose far less than expected, stoking expectations for a Federal Reserve rate cut later this month.
Gold traded higher early on Friday, rising as the dollar and yields moved sharply lower after U.S. hiring stalled in July, firming expectations the Federal Reserve will move to lower interest rates beginning this month.
Luxembourg, September 5, 2025 ? Millicom?s subsidiary Telef?nica Celular del Paraguay S.A.E today announced its intent to redeem $150,000,000 aggregate principal amount of its 5.875% Senior Unsecured Notes due 2027 on September 15, 2024.
Canadian employment declined by 66,000, or 0.3% month over month, in August, largely the result of a decline in part-time work, and the employment rate fell 0.2 percentage points to 60.5%, said the country's statistical agency Friday. The unemployment rate rose 0.2 percentage point to 7.1%, noted Statistics Canada in a statement on the August Labour Force Survey.
After months of warning signs, the slowdown in America's labor market is now undeniable. August's jobs report reveals a near standstill in hiring, cementing expectations that the Federal Reserve will be forced to cut interest rates?and perhaps more aggressively than markets had already anticipated.
A further slump in employment, resulting in a larger-than-expected increase in the unemployment rate, adds to evidence that the Bank of Canada needs to restart interest rate cuts later this month, said CIBC.
The August employment report showed nonfarm payrolls rose by 22,000, well below the 75,000 jobs increase expected in a survey compiled by Bloomberg as of 7:30 am ET, while July payrolls saw an upward revision to a 79,000 increase and June payrolls were revised downwards to a 13,000 decrease, for a net downward revision of 21,000 jobs.
The soft numbers not only cement the case for a Fed rate cut later this month, but likely put a 50 basis point move on the table versus the previously expected 25.
The European Central Bank is expected to keep policy rates unchanged at 2% again at the Governing Council meeting next Thursday, said Deutsche Bank. Having signalled at the last meeting that the ECB is in a "good place to hold and watch," there has been nothing in the incoming data to challenge the assumption of a further pause in September, wrote the bank in a note to clients.
The US Bureau of Labor Statistics said it is experiencing technical difficulties ahead of the release of the US jobs report for August, scheduled for 8:30 a.m. ET. MT Newswires does not provide investment advice.
Plane maker Bombardier overnight Thursday said it has priced its offering of US$250 million of senior notes due 2033. The additional notes will be a further issuance of, and form a single series with, the existing $500 million of 6.75% senior notes due 2033 that were originally issued on May 29. The issuance is expected to close on or about Sept. 18.
The US dollar fell against its major trading partners early Friday ahead of the release of employment data for August at 8:30 am ET. Nonfarm payrolls are expected to rise by 75,000 in August after 73,000 jobs gain in the previous month, the unemployment rate is forecast to rise to 4.3% from 4.2% and hourly earnings are expected to rise by 0.3% after a matching gain in the previous month.
Canada will publish the Labour Force Survey at 8:30 a.m. ET Friday, said Scotiabank. Most forecasters are on the plus side for Canadian jobs, noted the bank. There just isn't much variability in the range of views relative to the 95% confidence interval surrounding monthly changes in jobs, that is more or less, 57,000.
European bourses tracked moderately higher midday Friday as traders weighed easing bond yields and softening global crude oil prices. A pending August US jobs report from Washington is expected to possibly clear the way to a rate cut from the Federal Reserve later this month. Tech stocks led gainers on continental trading floors, while real estate and food shares lagged.
US equity markets were mostly trending higher before the opening bell Friday as traders await the national employment situation report for August. The S&P 500 rose 0.2% and the Nasdaq added 0.5% in premarket activity, while the Dow Jones Industrial Average slipped 0.1%. The indexes closed Thursday's trading session higher, with the S&P 500 notching a record high.
Wall Street futures pointed mostly higher pre-bell Friday, as traders anticipated another soft jobs report from Washington that could pave the way for a rate cut from the Federal Reserve at its policy meeting this month. The August national employment situation bulletin from Washington is slated to post at 8:30 am ET, with pundits projecting a net 75,000 job gain.
Canada releases its August Labour Force Survey on Friday at 8:30 a.m. ET, the same time as the US, ING said. Economists expect a 5,000 rise in employment after a 40,000 contraction in July, the bank said.
Asian stock markets gained ground on Friday after recent soft US jobs market reports bolstered outlooks that the Federal Reserve may reduce interest rates this month, a move that could prompt central bank easing in the Asia Pacific region as well. Hong Kong, Shanghai, and Tokyo finished in the green, as did most other regional exchanges.
One item in the August Canadian jobs data likely to draw a "lot of attention" will be the youth unemployment rate, Bank of Montreal said. Canada is set to release the Labour Force Survey for August at 8:30 a.m. ET Friday. The youth unemployment rate reached 14.6% in July, the highest non-pandemic reading since 2010, the bank noted.
President Donald Trump?s Federal Reserve nominee Stephen Miran defended his independence during a contentious Senate Banking Committee hearing on Thursday, as Democrats warned his appointment could undermine the central bank?s autonomy over monetary policy decisions.
Mortgage rates could slip even before the Federal Reserve formally cuts rates on Sept. 17 because lenders tend to price in expectations ahead of policy moves and mortgages key off the 10-year Treasury yield more than the Fed's short-term rate.
The S&P 500 closed at a record high on Thursday as fresh employment data lifted expectations that the Federal Reserve will cut interest rates later this month, while traders awaited the August jobs report due out on Friday. The S&P 500 and the Dow Jones Industrial Average climbed 0.8% each to 6,502.1 and 45,621.3, respectively.
Brookfield Asset Management Ltd. (BAM) today announced the pricing of a public offering of $750 million principal amount of senior notes due 2055, which will bear interest at a rate of 6.077% per annum. The net proceeds from the sale of the notes will be used for general corporate purposes.
Today the Federal Home Loan Bank of Indianapolis celebrated the grand opening of the Marvetta & Anthony Grimes Family Center. The Marvetta & Anthony Grimes Center received an Affordable Housing Program award of $872,020 during the Bank?s 2024 funding round, marking a total $28.5 million in AHP grants for 57 projects secured through member financial institution Merchants Bank of Indiana since 2005.
US equity indexes rose at the close on Thursday amid a slump in US private sector job growth as well as expansion of economic activity in the services sector. The Nasdaq Composite jumped 1% to 21,707.7, with the S&P 500 up 0.8% to 6,502.1 and the Dow Jones Industrial Average up 0.8% to 45,621.3. Consumer discretionary was the top gainer, up 2.3%, followed by communication services and industrials.
Financial stocks advanced in late Thursday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 1%. The Philadelphia Housing Index climbed 2.5%, and the Real Estate Select Sector SPDR Fund rose 0.6%. Bitcoin fell 1.6% to $109,970, and the yield for 10-year US Treasuries dropped 4 basis points to 4.18%. In economic news, the US Department of Just...
US equity indexes rose ahead of the close on Thursday amid slower private sector job growth data and expansion of economic activity in the services sector. The Nasdaq Composite rose 0.73% to 21,654.8, with the S&P 500 up 0.66% to 6,490.5 and the Dow Jones Industrial Average up 0.72% to 45,595.3. The majority of the sectors were higher, with consumer discretionary and financials leading the gains.
Financial stocks advanced in late Thursday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 1%. The Philadelphia Housing Index climbed 2.5%, and the Real Estate Select Sector SPDR Fund rose 0.6%. Bitcoin fell 1.6% to $109,970, and the yield for 10-year US Treasuries dropped 4 basis points to 4.18%. In corporate news, Apollo Global Management...
US nonfarm payrolls are expected to rise by 75,000 in August after an increase of 73,000 jobs in July, while the unemployment rate is forecast to rise to 4.3% from 4.2%, according to a survey compiled by Bloomberg. The August employment data are scheduled to be released at 8:30 am ET Friday.
New York Fed President John Williams said that it would appropriate to lower the target range for the federal funds rate if the economy evolves as expected but did not specify when that reduction should resume.
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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