Tesla's sales in China dropped to 26,006 vehicles in October, their lowest in three years, as the U.S. electric vehicle maker struggles with tepid demand in the hyper-competitive market.
Sterling held steady on Monday as traders brushed off news of a possible end to the U.S. federal government shutdown and instead awaited important economic data this week to see what it might mean for the Bank of England. The pound was last up 0.08% at $1.3175 and was a whisker firmer against the euro at 87.83 pence to the common currency. It also finished last week little changed.
Slowing payroll growth in the U.S. is likely due more to weaker demand for workers than the drop in the labor force from tightened immigration policy, an important distinction in the U.S. Federal Reserve's debate about further interest rate cuts, San Francisco Fed President Mary Daly said on Monday.
Walker & Dunlop, Inc. (WD) announced today that it arranged $625,299,000 in fixed-rate loans from Freddie Mac to refinance eight multifamily properties in six high-growth U.S. markets. Walker & Dunlop Capital Markets refinanced the existing loans on behalf of IMT Capital.
* EM stocks up 1.35%, FX up 0.16% * S&P affirms Poland's outlook at 'stable' * US exempts Hungary from Russia sanctions after Trump-Orban meet. * Hungary secures financial shield agreement with WashingtonCzech jobless rate edges slightly up in October. By Nikhil Sharma.
Greek industrial output rose by 6.8% year-on-year in September, after an upwardly revised 2.8% drop in August, data from statistics service ELSTAT showed on Monday. A breakdown of index components showed manufacturing production rose 7.6% from the same month in 2024.
* Commerzbank forecasts US Treasury yields towards upper end of recent range. * Risk sentiment remains upbeat across markets. * German 2-year yields hover just below October 30 levels. * Rates appropriate but ECB should remain cautious, says de Guindos. By Stefano Rebaudo.
* China October car sales fall, far below prelim. * EV, PHEV sales growth more than halve. * Government subsidies tapering-off weighs on consumer sentiment. China's car sales fell unexpectedly in October from a year earlier, snapping an eight-month growth streak, as consumer sentiment weakened amid reduced tax exemptions and government subsidies.
* Gold hits highest since October 27. * Gold may reach around $4,120-$4,130 soon, analyst says. * Silver rises 3% to hit highest since October 21. By Anmol Choubey. Gold prices rose 2% on Monday, hitting their highest level in two weeks, as weak U.S. economic data bolstered expectations for a Federal Reserve rate cut next month, while a softer dollar lent further support to bullion.
* US exhibitors at import expo optimistic after Xi-Trump meeting. * Soybean and sorghum shipments to China seen as positive. * Analysts warn trade detente may be fragile. * China's trade surplus set to exceed last year's roughly $1 trillion. By Casey Hall.
* Fuel prices gain on refinery outages, Russian supply disruptions. * Crude oil oversupply concerns persist on rising output. * US Senate advances bill to end federal shutdown. * Flight delays, cancellations in the US accelerate. By Shariq Khan.
* SPDR Gold Trust holdings rose 0.16% on Friday. * Silver up more than 2% * Gold hits highest since Oct. 27. By Brijesh Patel. Gold prices jumped to a two-week high on Monday, helped by expectations of another Federal Reserve interest rate cut in December and a slew of weak economic data that raised global slowdown worries.
Japanese government bond yields rose on Monday as the Bank of Japan's policy meeting summary stoked caution for an early interest hike, prompting investors to sell bonds. The five-year bond yield rose as much as 2 basis points to 1.265%, its highest level since July 2008. The 10-year JGB yield rose 2 bps to 1.695%, its highest since October 10. Bond yields move inversely to prices.
The Bank of Japan should avoid raising interest rates in December and wait at least until January next year to support a fragile economy, Takuji Aida, an economist chosen to join a key government panel, told the Nikkei newspaper.
The Bank of Japan should avoid raising interest rates in December and wait at least until January next year to support a fragile economy, Takuji Aida, an economist chosen to join a key government panel, told the Nikkei newspaper.
* SPDR Gold Trust holdings rose 0.16% on Friday. * Silver, platinum up more than 1% each. By Brijesh Patel. Gold prices rose more than 1% on Monday, buoyed by expectations of another Federal Reserve interest rate cut in December and a slew of weak economic data that raised global slowdown worries. Spot gold gained 1.4% to $4,053.40 per ounce by 0435 GMT.
Australia's monetary policy faces an unusual challenge as the economy began recovering last year with demand still above potential output, a top central bank official said on Monday, suggesting little room for near-term policy easing.
Oil prices rose on Monday on optimism that the U.S. government shutdown could end soon and lift demand in the world's top oil consumer, offsetting concerns about rising supplies globally. Brent crude futures rose 47 cents, or 0.74%, to $64.10 a barrel by 0123 GMT.
Gold prices rose on Monday, buoyed by expectations of another Federal Reserve interest rate cut in December and a slew of weak economic data that raised global growth worries. FUNDAMENTALS. * Spot gold gained 0.7% to $4,027.88 per ounce by 0115 GMT. * U.S. gold futures for December delivery rose 0.7% to $4,036.60 per ounce.
MSCI's global equities gauge rallied 1.4% on Monday while government bond yields rose modestly on bets the record-long U.S. government shutdown will soon end, enabling official data releases to resume to provide much-needed clarity on the state of the economy.
Japanese Prime Minister Sanae Takaichi said on Monday she would work on setting a new fiscal target extending through several years to allow more flexible spending, essentially watering down the country's commitment to fiscal consolidation.
Japan's government will urge the central bank to focus on achieving strong economic growth accompanied by stable prices in an outline of its stimulus package, a draft of the outline seen by Reuters showed on Monday. The comment likely underscores Prime Minister Sanae Takaichi's preference for the Bank of Japan to keep interest rates low to help underpin a fragile economic recovery.
The copper-gold ratio recently touched a multi-decade low even as the world economy and stock markets continued to roll along. COPPER'S COMPLEX RIDE The dramatic drop in the copper-gold ratio might suggest that copper demand is severely depressed, but this isn't the case.
U.S. economic growth in the fourth quarter could be negative if a federal shutdown drags on, White House economic adviser Kevin Hassett said in an interview that aired on Sunday. Hassett, speaking to the CBS show "Face the Nation", noted that a shortage of air traffic controllers was causing major travel delays in the run-up to the Thanksgiving holiday.
U.S. economic growth in the fourth quarter could be negative if a federal shutdown drags on, White House economic adviser Kevin Hassett said in an interview that aired on Sunday. Hassett, speaking to the CBS show "Face the Nation", noted that a shortage of air traffic controllers was causing major travel delays in the run-up to the Thanksgiving holiday.
* S&P 500 posts weekly drop, backing off record high. * Tech sector leads pullback, weak labor data also in focus. * Stellar Q3 earnings season overall coming to a close. By Lewis Krauskopf. Investors will seek clues about the health of the U.S. economy in the coming week following worrisome labor market reports and technology-led turbulence that has knocked the stock market off record highs.
* October consumer prices rise 0.2% from a year earlier. * Producer price index extends three-year drop but moderates. * Authorities step up efforts to rein in price wars. * Deflationary pressures easing, but not over yet, analyst says. By Kevin Yao and Yukun Zhang.
Chinese consumer prices rose in October while producer price deflation moderated, data from the National Bureau of Statistics showed on Sunday. The consumer price index edged up 0.2% from the same month a year earlier. On a month-on-month basis, the CPI rose 0.2%. That compared with a 0.1% rise in September and a forecast of no change.
-Grocery giants Walmart (WMT), Target (TGT) and Aldi are trumpeting their Thanksgiving meal deals as more affordable than ever. Walmart's (WMT) meal this year features nine Great Value private-label brand items out of 15, compared with nine out of 21 brands last year - a higher percentage of in-house brands. The company accomplished this by subbing in a stuffing mix and sidelining onions, celery and broth.
* Target (TGT), Walmart's (WMT) meal kits swap national brands for private labels. * Food costs rose 2.7% in September, government data shows. * NielsenIQ: 58% of shoppers worry about food price inflation. By Siddharth Cavale. Grocery giants Walmart (WMT), Target (TGT) and Aldi are trumpeting their Thanksgiving meal deals as more affordable than ever.
* * Dow and S&P 500 turn slightly positive in late afternoon. * Dollar lower against major currencies. By Caroline Valetkevitch. The Nasdaq ended slightly lower on Friday but registered its biggest weekly percentage drop since early April as investors worried about the sustainability of a rally in artificial intelligence shares, while U.S. Treasury yields inched lower.
The Nasdaq ended slightly lower on Friday but registered its biggest weekly percentage drop since early April as investors worried about the sustainability of a rally in artificial intelligence shares, while U.S. Treasury yields inched lower. Chip and other tech-related stocks have been some of the biggest losers this week, while the Nasdaq fell about 3% for the week.
Radian Group Inc (RDN): * Radian Group Inc (RDN) - ON NOV 4, ENTERS CREDIT AGREEMENT WITH ROYAL BANK OF CANADA - SEC FILING. * Radian Group Inc (RDN) - SECURES $500 MILLION UNSECURED REVOLVING CREDIT FACILITY - SEC FILING. * Radian Group Inc (RDN) - CAN INCREASE BORROWING CAPACITY BY $250 MILLION - SEC FILING.
The Federal Reserve governor argued that stablecoins' increasing demand for dollar-tied assets such as Treasuries will force monetary policy decisions.
US equity indexes fell this week as a deterioration in labor market data called into question big-tech valuations, prompting investors to book profits. * The S&P 500 closed at 6,728.81 on Friday versus 6,840.20 a week ago. * Challenger, Gray & Christmas reported Thursday firms planned to cut 153,074 jobs in October, the largest for the month since 2003, up from 55,597 a year ago.
The Standard & Poor's 500 index fell 1.6% this week, led by the technology sector, as consumer sentiment dropped to a three-year low. The S&P 500 ended Friday's session at 6,728.80. This marks its first weekly loss since the week ended Oct. 10. Economic readings have been sparse for the past month as the government shutdown has delayed multiple reports.
* * Dow and S&P 500 turn slightly positive in late afternoon. * Dollar lower against major currencies. By Caroline Valetkevitch. The Nasdaq ended barely lower on Friday but registered its biggest weekly percentage drop since early April as investors worried about the sustainability of a rally in artificial intelligence shares, while U.S. Treasury yields inched lower.
* Indexes: Dow up 0.16%, S&P 500 up 0.13%, Nasdaq off 0.21% * Democrats propose a deal to end shutdown. * Tesla shareholders approve $1 trillion CEO pay package. * Microchip Technology (MCHP) falls following its disappointing sales forecast. * Expedia (EXPE) jumps after annual revenue growth forecast hike. By Stephen Culp.
The political appointee leveling fraud accusations against perceived opponents of President Donald Trump enlisted a man who'd once been convicted of a felony sex offense as a consultant to mortgage giants Fannie Mae and Freddie Mac, according to six people familiar with the role.
The muni market may see additional volatility due to "uncertainties related to the future of tariffs and stronger inflation prints," said Barclays (BCS) strategists led by Mikhail Foux.
Policy uncertainty, including on global trade and central bank independence, and overall geopolitical risk topped the list of financial stability concerns in a new Federal Reserve survey released on Friday. The biannual Financial Stability Report found that acute concern about trade had abated somewhat, while worry about artificial intelligence was on the rise.
* Democrats propose a deal to end shutdown. * Tesla shareholders approve $1 trillion CEO pay package. * Microchip Technology (MCHP) falls following its disappointing sales forecast. * Expedia (EXPE) jumps after annual revenue growth forecast hike. By Stephen Culp.
AM Best has downgraded the Financial Strength Rating to B+ from B++ and the Long-Term Issuer Credit Rating to ?bbb-? from ?bbb? of The Group Insurance Trust of the California Society of Certified Public Accountants.
Financial stocks were higher in late Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.4%. The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund increased 0.9%. Bitcoin climbed 1.8% to $103,146, and the yield for 10-year US Treasuries was slightly lower at 4.09%. In economic news, the University of M...
Unemployment rate expectations continued to worsen in the US last month, a survey by the Federal Reserve Bank of New York showed Friday. The mean probability that the jobless rate will rise in the next 12 months rose by 1.4 percentage points to 42.5% in October, marking its third consecutive monthly increase, according to the Fed branch's latest Survey of Consumer Expectations.
Financial stocks were higher in late Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.4%. The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund increased 0.9%. Bitcoin climbed 1.8% to $103,146, and the yield for 10-year US Treasuries was slightly lower at 4.09%. In corporate news, Huntington Bancsha...
Federal Reserve Governor Stephen Miran on Friday said that if stablecoins end up enjoying widespread adoption it could mean the central bank needs to keep short-term interest rates lower than they would otherwise be.
* Stablecoin adoption may lower Fed's short-term rates, Miran says. * Stablecoins boost dollar's dominance, increase demand for US Treasury bills. * Miran compares stablecoin impact to past global savings affecting US rates. By Michael S. Derby.
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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