Federal Reserve Chairman Jerome Powell said Tuesday that there has been little change to the economic picture since the last Federal Open Market Committee four weeks ago, a meeting where rates were lowered by 25 basis points as the balance of risk shifted toward a weaker labor market.
Nassim Nicholas Taleb took to X to highlight a key distinction between silver and gold: central banks don?t hoard silver. While both metals have been rallying this year, gold?s status as a central bank reserve asset gives it a unique position in the financial landscape. Central banks have historically favored gold over silver due to its established role as a reserve asset.
The European stock markets closed mostly lower in Tuesday trading as Germany's DAX slipped 0.64%, France's CAC decreased 0.18%, the Stoxx Europe 600 lost 0.39% the Swiss Market Index shed 0.40%, while the FTSE 100 was up 0.10%. In the UK, the unemployment rate rose to 4.8% in the three months to August from 4.7% in the previous three-month period, according to data from the Office for National ...
The International Monetary Fund estimates Canada's gross domestic product to grow 1.2% this year and 1.5% in 2026, according to Tuesday's World Economic Outlook. This was lower than the July expectations of 1.6% and 1.9% respectively, from the July WEO Update. Inflation is forecast to be 2.0% for this year and in 2026. MT Newswires does not provide investment advice.
The United Kingdom's August gross domestic product likely grew -- but only just, said Deutsche Bank. The U.K. will publish the August GDP on Thursday at 2 a.m. ET. The bank thinks GDP expanded by 0.1% month over month. Indeed, some course correction is likely after an excellent start for the U.K. economy. Some continued course correction, Deutsche Bank thinks, is likely.
The International Monetary Fund revised its estimate for 2025 global growth higher in its most recent World Economic Outlook Tuesday, though the expected pace is still below the growth rate in 2024. Most areas saw upward adjustments from their previous estimates due to a smaller-than-expected impact from trade policies, with the notable exception of Canada.
The state is gearing up to grow its space industry as the federal government starts allowing tax-exempt private activity bond financing for spaceports.
There will be plenty of ammunition for the doves in Tuesday's labor market report in the United Kingdom, said Sanjay Raja, Deutsche Bank's chief U.K. economist. Wage growth continues to soften -- particularly in the private sector, with AWE Private Regular Pay pulling lower to 4.4%. The jobless rate edged higher to 4.8%. Vacancies dropped to a new multi-year low.
The US dollar rose against its major trading partners early Tuesday, except for a decline versus the yen, ahead of a busy day that includes Federal Reserve Chairman Jerome Powell speaking on the economy and monetary policy at 12:20 pm ET. Fed Vice Chair for Supervision Michelle Bowman is due to speak at 8:45 am ET, followed by release of weekly Redbook same-store sales data at 8:55 am ET.
The Bank of Canada will convene at the end of the month to make its next interest rate decision, noted TD. Last week's jobs data may influence the BoC to hold rates steady, said the bank. Labor market data for September indicated the Canadian economy added 60,000 jobs, significantly outperforming consensus forecasts for no job growth, stated TD.
Early Canadian gross domestic product and net trade data have broadly shown signs that the economy is stabilizing after contracting in Q2, said RBC. However, heavily trade-exposed sectors remain under significant pressure, driving expectations for softer industry data Wednesday, noted the bank. Canada releases manufacturing sales for August Wednesday, at 8:30 a.m. ET.
Societe Generale in its early Tuesday economic news summary pointed out: -- Risk off, 10-year Bund yield opens gap down and below 200dma, support 2.57%/2.53%. United States Treasury yields approach September lows before Federal Reserve Chair Powell speech, 10-year slips to 4.015%, 2s at 3.47%. U.S./China held working-level talks on Monday.
Philadelphia Fed President Anna Paulson said that she expects tariff effects on inflation to be smaller and shorter termed than previously anticipated and should be viewed as such when considering monetary policy changes.
Financial stocks were higher in Monday afternoon trading, with the NYSE Financial Index rising 1.1% and the Financial Select Sector SPDR Fund up 1%. The Philadelphia Housing Index increased marginally, and the Real Estate Select Sector SPDR Fund rose 0.3%. Bitcoin was declining 0.2% to $114,852, and the yield for 10-year US Treasuries was down 8.9 basis points to 4.06%. In economic news, Presid...
Financial stocks were higher in Monday afternoon trading, with the NYSE Financial Index rising 1.1% and the Financial Select Sector SPDR Fund up 1.2%. The Philadelphia Housing Index increased 0.3%, and the Real Estate Select Sector SPDR Fund rose 0.5%. Bitcoin was declining 0.2% to $114,852, and the yield for 10-year US Treasuries was down 8.9 basis points to 4.06%. In corporate news, JPMorgan ...
The US dollar rose against its major trading partners early Monday, except for a decline versus the Canadian dollar, before a week that will be defined by missing data due to the ongoing government shutdown and a full slate of Federal Reserve speakers, including an appearance by Fed Chairman Jerome Powell on Tuesday, before Fed officials enter their 'quiet period' on Saturday.
Image: Bitget Report: 66% of Crypto Users Plan to Increase Investment, Driving Global Growth. Bitget, the world's largest Universal Exchange, has released its Q3 2025 Crypto Market Confidence and BTC Investment Trend Report, highlighting sustained optimism across global markets despite ongoing macroeconomic uncertainty.
Image: Legend Trading. Legend Trading, a global leader in digital asset financial services, today announced that it has officially been granted a Crypto Asset Service Provider authorization by the Central Bank of Ireland.
The CNN Money Fear and Greed index showed a sharp decline in overall market sentiment, as the index moved into the ?Fear? zone on Friday. U.S. stocks settled lower on Friday, with the Nasdaq Composite falling more than 800 points during the session after President Donald Trump threatened a sweeping increase in tariffs on Chinese imports.
President Donald Trump's past remarks about Bitcoin's potential to "save America" deserve scrutiny: what it would actually take for the cryptocurrency to cover the $37 trillion U.S. national debt? Trump has previously suggested the nation?s debt burden could be paid off with Bitcoin.
US equity indexes sank at the close on Friday, with the Dow Jones Industrial Average plunging more than 875 points after President Donald Trump's warning of a "massive" increase in tariffs on China sent US government bond yields and the dollar sharply lower.
Financial stocks fell in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each dropping 1.7%. The Philadelphia Housing Index shed 0.7%, and the Real Estate Select Sector SPDR Fund declined 0.81%. Bitcoin slumped 3.8% to $117,121, and the yield for 10-year US Treasuries tumbled 9.7 basis points to 4.05%. In economic news, President Donald Trum...
US equity indexes sank with government bond yields ahead of the close on Friday as President Donald Trump's warning of a "massive" increase in tariffs on China spooked investors.
Financial stocks were falling in late Friday afternoon trading, with the NYSE Financial Index down 1.4% and the Financial Select Sector SPDR Fund dropping 1.7%. The Philadelphia Housing Index shed 0.8%, and the Real Estate Select Sector SPDR Fund was decreasing 1.1%. Bitcoin was declining 3.8% to $117,121, and the yield for 10-year US Treasuries dropped 9.7 basis points to 4.05%. In economic ne...
Gold pushed back above the US$4,000 mark early Friday, pushing higher again on a weaker dollar and lower treasury yields following a day-prior drop as traders took profits from Wednesday's record close.
Financial stocks were falling in Friday afternoon trading, with the NYSE Financial Index down 1.3% and the Financial Select Sector SPDR Fund dropping 1.4%. The Philadelphia Housing Index shed 0.7%, and the Real Estate Select Sector SPDR Fund was decreasing 0.8%. Bitcoin was declining 3% to $118,133, and the yield for 10-year US Treasuries was dropping 8 basis points to 4.06%. In economic news, ...
US equity indexes slumped along with government bond yields and the dollar in midday trading on Friday as President Donald Trump threatened a "massive" increase in trade tariffs on China, the world's second-largest economy.
Financial stocks were falling in Friday afternoon trading, with the NYSE Financial Index down 1.3% and the Financial Select Sector SPDR Fund dropping 1.5%. The Philadelphia Housing Index shed 0.7%, and the Real Estate Select Sector SPDR Fund was decreasing 0.8%. Bitcoin was declining 3% to $118,133, and the yield for 10-year US Treasuries was dropping 9 basis points to 4.06%. In economic news, ...
US consumer sentiment was little changed in October amid persistent concerns about inflation and labor market challenges, preliminary results from a University of Michigan survey showed Friday. The main sentiment index reached 55 this month, a tick below 55.1 in September.
The European stock markets closed lower in Friday trading as The Stoxx Europe 600 declined 1.3%, Germany's DAX lost 1.5%, the FTSE 100 dropped 0.9%, France's CAC fell 1.5%, and the Swiss Market Index was down 1%. Banque de France, France's central bank, said the country's GDP was on track to expand 0.3% in Q3 from the previous quarter, when it also grew 0.3%, according to Reuters.
Following a series of intense interviews, Treasury Secretary Scott Bessent has reportedly cut President Donald Trump's list of Federal Reserve chair candidates to down to five, from an initial pool of eleven.
The Finance Ministry noted growing crypto adoption, while the central bank laid out plans to let banks participate under strict capital and reserve requirements.
"Well, that's quite the surprise," said TD Economics Friday, in noting Canada's job market looks like it recovered all of August's losses in September. But, TD also said, it's important to note the unemployment rate remained unchanged as the labour force jumped by an even greater amount.
The University of Michigan's preliminary consumer sentiment index fell slightly to 55.0 in October from 55.1 in September, compared with expectations for a larger decrease to 54.0 in a survey compiled by Bloomberg as of 8:07 am ET.
The Canadian labour market "came back to life" in September, although a rebound in participation kept the unemployment rate elevated, CIBC said Friday after the release of LFS employment data for September.
Gold pushed back above the US$4,000 mark early Friday, pushing higher again on a weaker dollar and lower treasury yields following a day-prior drop as traders took profits from Wednesday's record close.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust was also 0.1% higher in Friday's premarket activity, as investors look forward to the consumer sentiment report due later in the day and major banks' earnings next week.
Employment rose by 60,000, or 0.3%, in September, while the employment rate edged up 0.1 percentage point to 60.6%, Statistics Canada said Friday. Among the highlights, Statistics Canada said employment rose in manufacturing as well as in health care and social assistance. Employment increased among core-aged workers, with gains for both women and men in September, following declines in August.
Employment rose by 60,000, or 0.3%, in September, while the employment rate edged up 0.1 percentage point to 60.6%, Statistics Canada said Friday. The gain easily topped economists' expectations.
The US dollar fell against its major trading partners early Friday, except for an increase versus the pound, ahead of the preliminary October University of Michigan consumer sentiment reading due to be released at 10:00 am ET. Chicago Federal Reserve President Austan Goolsbee is due to speak at 9:45 am ET and the St. Louis Fed is due to update its GDP nowcast estimate for Q3 around midday.
Some Bureau of Labor Statistics workers will called back from furlough amid the ongoing federal government shutdown to publish the official consumer inflation report for September, The Wall Street Journal reported Thursday, citing an administration official. The move would allow the government to calculate Social Security payments, which are related to inflation data, according to the report.
TC Energy (TRP) after trade Thursday said its TransCanada PipeLines unit completed a US$350 million debt offering. The offering consists of junior subordinated notes with a fixed interest rate of 6.25%, due Nov. 1, 2085. The company said it plans to use the proceeds to redeem all outstanding Series 11 preferred shares on Nov. 28, at a redemption price of $25 per share.
US equity indexes declined at the close on Thursday as the Federal Reserve's meeting minutes failed to boost risk sentiment amid mixed messaging from top central bank officials, and gold sank following a ceasefire between Israel and Hamas.
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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