Gold prices fell back below the US$4,000 mark early Thursday as traders were unimpressed by the Federal Reserve's rate cut a day earlier, after the central bank signaled it is likely to pause further easing this year. Gold for December delivery was last seen down $18.70 to $3,982.00 per ounce.
It came as absolutely no surprise that the Bank of Canada cut rates by 25 basis points again on Wednesday, said Rosenberg Research. The BoC provided neutral forward guidance, but the overall tone was more dovish than it was six weeks ago and rather negative on the economic outlook, with reference to the weakening macro backdrop transcending mere cyclical surfaces, noted Rosenberg Research.
Oil prices fell early on Thursday despite optimism for recovering global growth after the United States and China reached a trade deal and the Federal Reserve lowered interest rates.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.03% and the actively traded Invesco QQQ Trust was 0.03% lower in Thursday's premarket activity, after Federal Reserve Chair Jerome Powell cast doubts on investors' hopes of a December interest rate cut.
Canada will release the August payrolls at 8:30 a.m. ET on Thursday, said Scotiabank. The bank noted investors will get the Labour Force Survey for October on Nov. 7. Canadian payrolls lag the more important LFS by two months, pointed out Scotiabank. SEPH payrolls are "not harder" data, which is a common misconception, stated the bank.
Bridge Investment Group Holdings LLC today announced that it has completed fundraising for Bridge Debt Strategies Fund V LP, raising $2.15 billion in equity commitments. BDS V is a diversified, three-pronged strategy focused on originating first mortgage direct loans, issuing CRE CLOs, purchasing Freddie Mac K-Series B-Pieces, and investing in other CRE-backed debt, including CRE CLOs and CMBS.
Freddie Mac today reported its Third Quarter 2025 financial results and filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission. The company will hold a call at 9 a.m. Eastern Time today, October 30, 2025, to share its results with the media. Freddie Mac?s mission is to make home possible for families across the nation.
The bankruptcy judge suggested Jackson Hospital and Clinic may be closed if it doesn't propose a plan of adjustment before the end of the calendar year.
European bourses tracked moderately lower midday Thursday as traders digested a warning from the US central bank that more rate cuts may be off the table, and awaited a pending European Central Bank rate decision. Retail, oil, property and bank stocks lost ground on continental trading floors, while tech issues firmed.
US equity markets were tracking in the red before the opening bell Thursday as traders digest the outcome of talks between President Donald Trump and his Chinese counterpart Xi Jinping, while Federal Reserve Chair Jerome Powell indicated uncertainty around an interest rate cut in December.
Wall Street futures pointed modestly lower pre-bell Thursday, after Federal Reserve Chief Jerome Powell said that more rate cuts may be off the table, following the central bank's 0.25% reduction Wednesday.
RBC said it thought two consecutive cuts after a six-month pause would solidify the end of the cycle for the Bank of Canada. Indeed, it took two as the BoC lowered the overnight rate by 25bps to 2.25% on Wednesday to the lower end of the neutral range, noted the bank. The move was expected, but the language pivot wasn't, noted the bank.
Asian stock markets were mixed and muted Thursday, after the much-anticipated meeting between China and US leaders culminated without a positive concrete surprise, and following a warning from the US central bank that more cuts may be off the table.
The yen has continued to weaken against the US dollar overnight Wednesday following the Bank of Japan's latest policy meeting, which has contributed to a broad-based yen sell-off as well, said MUFG. It has helped to lift USD/JPY above the high from Oct. 10 at 153.27, thereby opening the door to further upside in the near-term, wrote the bank in a note to clients.
The clear-cut message from the Bank of Canada on Wednesday was that this might be it for rate cuts, for now, said Bank of Montreal. In the BoC's view, recent rate cuts provide some support for the economy, while not risking the inflation target, noted the bank.
For energy markets, the Federal Reserve Bank's lowering of its benchmark interest rate is expected to provide support to oil prices, Rystad Energy said in a Wednesday note. The Fed lowered its interest rate by 25 basis points to the 3.75-4.00% range, largely in line with expectations, as the latest U.S. inflation reading came in below expectations, Rystad Energy noted.
Commerzbank in its "European Sunrise" note of Thursday highlighted: Markets: United States Treasuries slump on Federal Reserve Chair Jerome Powell comments, with curve flattening, stabilize in Asia. Fed cuts by 25bps, stops quantitative tightening as of Dec. 1. Statement says downside risks to employment rose in recent months, while inflation remains elevated.
The CNN Money Fear and Greed index showed further easing in the overall fear level, while the index remained in the ?Fear? zone on Wednesday. U.S. stocks settled mixed on Wednesday, with the Nasdaq Composite gaining more than 100 points during the session after the central bank lowered rates by 25 basis points to 3.75%-4.00% for the second straight meeting.
Major stock indexes traded mixed on Wednesday, with the Dow Jones Industrial Average slipping nearly 0.2% to 47,632 and the S&P 500 holding steady at 6,890.59, while the Nasdaq gained 0.55% to 23,958.47.The Federal Reserve cut its benchmark interest rate by 25 basis points to 3.75%-4.00% and announced it would halt the runoff of its securities holdings starting Dec. 1, ending its quantitative t...
The Dow Jones Industrial Average fell from Tuesday's record high level after Federal Reserve Jerome Powell on Wednesday indicated uncertainty around an interest rate cut in December. The Dow dropped 0.2% to 47,632, while the S&P 500 ended just below the flatline at 6,890.6. Both snapped a four-day run of gains that pushed the indexes to fresh closing records on Tuesday.
US equity indexes closed mixed on Wednesday after comments by Federal Reserve Chair Jerome Powell raised doubts regarding an interest rate cut in December. * The Federal Open Market Committee cut interest rates by a quarter point Wednesday, setting the benchmark range at 3.75% to 4%, in line with expectations.
US equity indexes gave up most gains at the close on Wednesday after Federal Reserve Chair Jerome Powell said an interest rate cut in December is "not a foregone conclusion," sending the odds of further policy easing at the next meeting sharply lower. The Nasdaq Composite rose 0.6% to 23,958.47, off session highs.
The New Civil Liberties Alliance filed an amicus curiae brief today in Trump v. Cook urging the U.S. Supreme Court to let President Trump remove Lisa Cook from the Federal Reserve Board of Governors. The Federal Reserve Board exercises executive power by enacting regulations and punishing people for violating them.
The Toronto Stock Exchange slumped Wednesday after the Bank of Canada as expected cut rates again and provided neutral forward guidance, but one market watcher was left feeling the overall tone from the central bank was "rather negative" on the economic outlook and another said it won't move firms from taking a "wait-and-see approach" when it comes to much needed investment spending.
"The knee-jerk reaction of the markets to the Fed meeting (and press conference) was to sell stocks and bonds, because [Fed] Chairman Jerome Powell said that an additional rate cut in December wasn't a sure thing," said Northlight Asset Management Chief Investment Officer Chris Zaccarelli.
Affirm Holdings (AFRM) shares are trading lower on Wednesday afternoon, caught in a broader market downdraft after the Federal Reserve?s latest policy announcement. What To Know: While the Fed cut its benchmark interest rate by 25 basis points to a range of 3.75%-4% and paused its balance sheet runoff, comments from Chair Jerome Powell injected a heavy dose of uncertainty into the market.
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each shedding 1.7%. The Philadelphia Housing Index dropped 2.6%, and the Real Estate Select Sector SPDR Fund fell 2.8%. Bitcoin was declining 2.7% to $110,673, and the yield for 10-year US Treasuries rose 8.3 basis points to 4.07%. In economic news, the F...
US equity indexes traded mixed ahead of the close on Wednesday, giving up gains, as Federal Reserve Chair Jerome Powell said an interest rate cut in December is "not a foregone conclusion." The Nasdaq Composite was up 0.3% to 23,903.02 but off session highs in the final leg of trading. Real estate, consumer staples, financials, and materials declined the most, down more than 1.5% each.
Fed Chair Jerome Powell threw cold water on investor hopes for another interest rate cut in December, stressing that the Federal Open Market Committee remains deeply divided and that the road ahead is clouded by data gaps and conflicting risks between the central bank?s objectives.
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index down 1.4% and the Financial Select Sector SPDR Fund falling 2%. The Philadelphia Housing Index dropped 2.6%, and the Real Estate Select Sector SPDR Fund fell 2.8%. Bitcoin was declining 3.3% to $110,280, and the yield for 10-year US Treasuries rose 8.9 basis points to 4.07%. In economic news, the...
After rate reductions at the last two Federal Open Market Committee meetings, a further reduction at the next meeting in December is not guaranteed due to double-sided risks and divergent opinions on the path of monetary policy, Federal Reserve Chairman Jerome Powell said Wednesday in a press conference after the FOMC meeting.
The Federal Reserve lowered its benchmark lending rate by 25 basis points Wednesday and reiterated concerns regarding the labor market. The central bank's Federal Open Market Committee lowered interest rates to a range of 3.75% to 4%, in line with Wall Street's expectations and marking a second-consecutive quarter-percentage-point cut.
After rate reductions at the last two Federal Open Market Committee meetings, a further reduction at the next meeting in December is not guaranteed due to double-sided risks and divergent opinions on the path of monetary policy, Federal Reserve Chairman Jerome Powell said Wednesday in a press conference after the FOMC meeting.
The Federal Open Market Committee lowered the federal funds rate target by 25 basis points at its meeting, setting the new range at 3.75% to 4%, according to its statement released Wednesday afternoon.
In a widely anticipated move, the Federal Reserve on Wednesday reduced its benchmark interest rate by 25 basis points to a target range of 3.75%-4.00% and announced a halt to the runoff of its security holdings starting in December.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.7% and the Financial Select Sector SPDR Fund falling 1.1%. The Philadelphia Housing Index was up 0.2%, and the Real Estate Select Sector SPDR Fund dropped 2%. Bitcoin was declining 1.6% to $111,163, and the yield for 10-year US Treasuries was rising 1.4 basis points to nearly 4%. In economic ne...
Freddie Mac announced today that it plans to report its Third Quarter 2025 financial results before the U.S. financial markets open on Thursday, October 30, 2025. The company will hold a call at 9 a.m. Eastern Time on Thursday, October 30, 2025, to share the company?s results with the media. Freddie Mac?s mission is to make home possible for families across the nation.
US equity indexes scaled new peaks in midday trading on Wednesday, as technology topped sector charts ahead of a widely anticipated easing of monetary policy by the Federal Reserve and Nvidia (NVDA) hit a record $5 trillion in market capitalization. The Nasdaq Composite rose 0.6% to 23,974.43, after hitting a record 24,019.99 earlier in the session. Energy was among the top gainers intraday.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.7% and the Financial Select Sector SPDR Fund falling 1.1%. The Philadelphia Housing Index was up 0.2%, and the Real Estate Select Sector SPDR Fund dropped 2%. Bitcoin was declining 1.6% to $111,163, and the yield for 10-year US Treasuries was rising 1.4 basis points to nearly 4%. In economic ne...
European stock markets closed mostly lower in Wednesday trading as Germany's DAX was down 0.64%, France's CAC 40 lost 0.19%, the Stoxx Europe 600 fell 0.1%, the Swiss Market Index slid 0.37%, while the FTSE 100 in London advanced 0.61%. Spain's quarterly gross domestic product growth slowed to 0.6% in Q3 from 0.8% in the previous three-month period, according to preliminary data from the Nation...
The Bank of Canada cut its overnight rate by 25bps to 2.25% on Wednesday, following a 25bps reduction at its previous meeting in September, said Kathrin Forrest, Equity Investment Director at Capital Group. This now puts the policy rate at the lower end of the BoC's estimated neutral range, with an eye towards reigniting domestic demand growth, noted Forrest.
As widely anticipated, the Bank of Canada cut its policy rate by a further 25bps to 2.25% on Wednesday, citing "US trade actions and related uncertainty" that are "having severe effects on targeted sectors including autos, steel, aluminium, and lumber," said ING. Gross domestic product contracted 1.6% in Q2 and "growth is expected to be weak in the second half of the year" as well.
The Toronto Stock Exchange is down 111 points at midday with commodities the sole gainers. The Bank of Canada also cut its interest rates to 2.25% this morning.
The Bank of Canada cut interest rates by 25bps as expected on Wednesday, but signaled that this may be the end of the line for rate reductions, said CIBC. The quarter-point cut, bringing the overnight rate down to 2.25%, was widely expected by forecasters and financial markets, noted the bank.
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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