US benchmark equity indexes were higher intraday as the odds of a Federal Reserve interest rate cut next month soared following remarks by New York Fed President John Williams.
Meridiam, ACS Infrastructure Development, Sacyr Infrastructure USA LLC and Plenary Americas are among the firms that have signaled interest in the project.
Gold traded higher midafternoon on Friday on revived hopes around a December interest rate cut from the Federal Reserve after a bullish U.S. jobs report. Gold for December delivery was last seen up US$16.30 to US$4,076.30 per ounce.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund adding 1.1%. The Philadelphia Housing Index was climbing 4.1%, and the Real Estate Select Sector SPDR Fund was up 1.3%. Bitcoin was falling 1.9% to $84,637, and the yield for 10-year US Treasuries was decreasing 3.1 basis points to 4.07%. In economic n...
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund adding 1.1%. The Philadelphia Housing Index was climbing 4.1%, and the Real Estate Select Sector SPDR Fund was up 1.3%. Bitcoin was falling 4.5% to $83,558, and the yield for 10-year US Treasuries was decreasing 3.1 basis points to 4.07%. In corporate ...
Consumer sentiment improved after the US federal government shutdown ended, but remained downbeat amid macro pressures, final survey results from the University of Michigan showed Friday. The main sentiment index dropped for a fourth consecutive month, reaching 51 in November from 53.6 in October.
The $6.3 billion all-funds budget was amended in the wake of the Nov. 4 defeat of a property tax rate increase that would have raised $109.5 million in revenue.
* FTSE 100, FTSE 250 log weekly losses. * Reeves is expected to raise taxes next week. * ASOS shares drop on lower profit forecast. London's FTSE 100 recovered ground on Friday, trimming earlier losses as increased expectations for Federal Reserve interest rate cuts improved global market sentiment, while investors now await next week's UK budget announcement.
The Federal Reserve can afford to further reduce interest rates to support a weakening labor market, New York Fed President John Williams said Friday. Williams said that downside risks to employment have risen, with both labor demand and supply slowing over the past year.
The Federal Home Loan Bank of New York announced today that Stephen S. Romaine has been elected by its Board of Directors to serve as Board vice chair for a two-year term that will commence on January 1, 2026.
* Fed's William says central bank could cut rates in near term. * Traders see 70% chance of US interest rate cut in December. * Wall Street opens higher. By Pablo Sinha. Gold prices held steady on Friday, after falling over 1% earlier in the session, as traders boosted bets on a December U.S. interest rate cut following dovish Fed comments.
The U.S. Bureau of Labor Statistics said on Friday it had canceled the release of October's consumer price report because the recently ended government shutdown had prevented the collection of data. "BLS is unable to retroactively collect these data. "BLS is able to retroactively acquire most of the nonsurvey data for October.
The U.S. Bureau of Labor Statistics said on Friday it had canceled the release of October's consumer price report because the recently ended government shutdown had prevented the collection of data. "BLS is unable to retroactively collect these data. The agency this week also canceled the release of October's employment report for the same reason.
* Tech valuations and Fed rate cut speculation impact markets. * Nasdaq, S&P 500 face largest weekly loss since April tariff announcement. * Global stocks and cryptocurrencies decline amid risk aversion. By Stephen Culp.
-Federal Reserve Governor Stephen Miran on Friday said he would vote for a quarter-percentage-point interest rate cut at the December meeting if his vote meant the difference in securing a rate reduction, despite having dissented at both of his prior meetings in favor of a larger cut.
After weeks of mixed signals, the Federal Reserve's tone on monetary policy turned noticeably more dovish Friday, driving a sharp repricing in interest-rate expectations ? with traders now seeing an almost 3-in-4 chance of a December cut. According to the CME FedWatch tool, the odds of a 25-basis-point rate reduction at the Dec. 10 policy meeting jumped to 74%, up from just 25% the day before.
* Fed's William says central bank could cut rates in near term. * Traders see 70% chance of US interest rate cut in December. * Wall Street opens higher. By Pablo Sinha. Gold prices pared losses on Friday, after falling over 1% earlier in the session, as traders boosted bets on a December U.S. interest rate cut following dovish Fed comments.
Each of National Bank, Desjardins, TD Economics and CIBC on Friday said the Bank of Canada is likely to remain on hold with its benchmark interest rate next month following the release of the Canadian retail sales figures for September, and an advance reading for October.
AM Best has affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb+? of Tanzania Reinsurance Company Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect TAN RE?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management.
The University of Michigan consumer sentiment index was revised higher Friday to a reading of 51.0 for November from the 50.3 print in the preliminary estimate, compared with expectations for a smaller upward revision to 50.6 in a survey compiled by Bloomberg as of 7:45 am ET. That was still below the final reading of 53.6 in October.
Each of Desjardins, TD Economics and CIBC on Friday said the Bank of Canada is likely to remain on hold with its benchmark interest rate next month following the release of the Canadian retail sales figures for September, and an advance reading for October. According to Oskar Stone at Desjardins, October's flash reading indicates that receipts were likely flat over the month.
AM Best has removed from under review with developing implications and affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa-? of Aviva Insurance Limited.
U.S. factory activity slowed to a four-month low in November as higher prices because of tariffs on imports restrained demand, leading to a piling up of unsold goods that could hinder growth in the overall economy.
TD Economics has joined CIBC in saying Friday that the Bank of Canada is likely to remain on hold with its benchmark interest rate next month. TD's Maria Solovieva's said retail sales are "heading into the holiday season on shaky footing", while noting September recorded a renewed decline, and early signals point to a flat reading in October.
-Dallas Federal Reserve President Lorie Logan on Friday called for leaving the policy rate on hold "for a time" while the central bank assesses how much of a brake the current level of borrowing costs is?putting on the economy, with soaring stock prices one reason to think it may not be much.
-Wall Street's main indexes opened higher on Friday as traders raised bets on an interest rate cut by the Federal Reserve in December following commentary from policymakers, with tech stocks stabilizing after last session's rout. The Dow Jones Industrial Average rose 56.4 points, or 0.12%, to 45,808.65 at the open.
Federal Reserve Bank of Boston President Susan Collins said on Friday that monetary policy is in the right place amid a resilient economy, in comments that suggest she remains skeptical of the need to cut interest rates again at next month's monetary policy meeting.
Canada's main stock index edged higher on Friday as investors raised bets on a December interest rate cut by the Federal Reserve, while markets stabilized after the previous session's hammering. At 9:30 a.m. ET, Toronto's S&P/TSX composite index was up 0.11% at 29,938.79 points.
Wall Street's main indexes opened higher on Friday as traders raised bets on an interest rate cut by the Federal Reserve in December following commentary from policymakers, with tech stocks stabilizing after last session's rout. The Dow Jones Industrial Average rose 56.4 points, or 0.12%, to 45,808.65 at the open.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of ?a? of Meritz Fire & Marine Insurance Co., Ltd.. The outlook of these Credit Ratings is stable. The ratings reflect Meritz?s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
Federal Reserve Bank of Boston President Susan Collins said on Friday that monetary policy is in the right place amid a resilient economy, in comments that suggest she remains skeptical of the need to cut interest rates again at next month's monetary policy meeting.
The U.S. Federal Reserve can still cut interest rates "in the near term" without putting its inflation goal at risk, New York Fed president John Williams said on Friday in comments that prompted traders to rapidly shift bets back in favor of a December rate reduction. "I view monetary policy as being modestly restrictive... in comments prepared for delivery at a Central Bank of Chile event.
US equity futures were up ahead of Friday's opening bell, rebounding from losses from the previous session, after a Federal Reserve official fueled rate cut hopes. Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.5% higher.
Gold traded higher early on Friday on revived hopes around a December interest rate cut from the Federal Reserve after a bullish U.S. jobs report. Gold for December delivery was last seen up US$14.50 to US$4,074.50 per ounce.
Over at CIBC, Andrew Grantham said Friday's retail sales data doesn't change the view that the Bank of Canada will move to the sidelines and hold interest rates steady at its December meeting. Grantham noted Canadian retail sales fell as expected in September, and advance data suggested there was no rebound to be seen in October.
U.S. stocks rallied on Friday as investors increased bets that the Federal Reserve will cut interest rates next month,? while all three of the major indexes posted losses for the week amid concerns over lofty technology valuations. The Nasdaq fell for a third straight week in its longest run of weekly losses since March.
Federal Reserve Bank of Boston President Susan Collins said Friday that a retreat from an integrated global economy could complicate the central bank's work and push up price pressures. A shift toward "economic fragmentation" could "usher in a transitional period of inflationary pressures," Collins said in the text of a speech to be delivered at a conference held by her bank.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5% and the actively traded Invesco QQQ Trust was 0.5% higher in Friday's premarket activity as a Federal Reserve official reignites hopes for an interest rate cut.
-Federal Reserve Vice Chair Philip Jefferson on Friday said he feels the current surge in stocks related to artificial intelligence is unlikely to be a replay of the late 1990s dot-com stock boom that ended in a bust, in large part because AI-related firms are well established and have actual earnings.
Traders on Friday moved to boost bets the Federal Reserve will cut the U.S. policy rate for a third straight time when policymakers meet on December 9-10, as New York Fed President John Williams said the central bank could cut rates in the "near term." Short-term interest-rate futures now reflect a 57% chance of a December Fed rate cut, up from well below 50% earlier.
The Swiss National Bank has a high bar for lowering interest rates below zero, given that negative rates can be a big challenge for a lot of actors in the economy, SNB Chairman Martin Schlegel said on Friday. However, the SNB is ready to go into negative rate territory if necessary to ensure price stability in the medium term, Schlegel added.
US equity futures were higher pre-bell Friday, rebounding from losses from the previous session, after a Federal Reserve official fueled rate cut hopes. Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.1% higher.
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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