* US retail sales data below expectations in September. * Fed Governor Miran calls for further interest rate cuts. * Traders see 83% chance of US rate cut next month. By Pablo Sinha. Nov 25 - Gold prices ticked up on Tuesday as softer-than-expected U.S. retail sales data reinforced traders' expectations that the Federal Reserve will trim interest rates in December.
Longer-dated Bunds made gains on Thursday while German gross domestic product data showed that private consumption contracted in Q3 after the Ifo business survey suggested minimal improvement in Q4 to contrast the message of the flash PMIs, said Daiwa Capital Markets.
-White House economic adviser Kevin Hassett has emerged as the frontrunner to be the next U.S. Federal Reserve chair, Bloomberg News reported on Tuesday, citing people familiar with the matter. Reuters could not immediately verify the report.
The European stock markets closed higher in Tuesday trading as The Stoxx Europe rose 0.9%, Germany's DAX gained about 1%, the FTSE 100 was up 0.8%, France's CAC advanced 0.8%, and the Swiss Market Index increased 0.9%. The German economy was stagnant in Q3 as gross domestic product, adjusted for price, seasonal and calendar effects, recorded no growth from Q2, according to the Federal Statistic...
White House economic adviser Kevin Hassett has emerged as the frontrunner to be the next U.S. Federal Reserve chair, Bloomberg News reported on Tuesday, citing people familiar with the matter. Reuters could not immediately verify the report.
Carnival Corp (CCL) shares are trading higher Tuesday morning, lifted by a resurgence in bets that the Federal Reserve will slash interest rates in December. According to CNN, the FAA is anticipating more than 52,000 flights Tuesday alone.
* Indexes: Dow up 0.74%, S&P 500 up 0.19%, Nasdaq down 0.25% * Alphabet up after report on talks with Meta to supply AI chips. * Nvidia (NVDA), AMD lead declines after Alphabet report. * Retail sales, producer inflation data in focus. By Johann M Cherian and Sruthi Shankar.
Euro zone bond yields nudged lower on Tuesday as U.S. Treasury yields declined on the back of growing expectations the Federal Reserve will deliver a December rate cut. Germany's 10-year Bund yield was down 2.5 basis points at 2.67%, broadly in the middle of its range for much of this year.
The U.S. dollar slid
on Tuesday as a slew of mixed economic data, some delayed and
therefore dated, reinforced expectations that the Federal
Reserve will cut interest rates next month.
The Dow Jones Industrial Average and the S&P 500 were up in late-morning trading Tuesday, while the Nasdaq Composite was down, as Wall Street hopes for another rate cut were boosted after two Federal Reserve officials advocated for further loosening of policy in recent days.
Nigeria's central bank Tuesday said its Monetary Policy Committee decided to keep the Monetary Policy Rate Unchanged at 27.0%. MT Newswires does not provide investment advice.
The Bank of Canada has already made substantial interest rate reductions over the past year and a half, slicing the overnight rate from 5.00% to 2.25%, said TD. The last 100bps came in the wake of President Donald Trump's trade war and are in the early stages of working their way through the economy, noted the bank.
* Fed rate cut expectations rise after comments from Fed officials. * Alphabet nears $4 trillion market cap amid Meta chip talks. * U.S. retail sales fall short of expectations. By Chuck Mikolajczak.
After a lackluster growth of 0.1% month over month in July, Quebec's provincial economy performed similarly in August, said National Bank of Canada. This time, however, the increase was entirely attributable to the service sector, which grew by 0.1% month over month after a slight contraction in July, noted the bank.
* Bessent concludes interviews for Fed leader, five candidates remain. * Hassett seen as frontrunner, White House calls it speculation. * Betting markets show Hassett in front, Waller in second.
U.S. business inventories were unexpectedly unchanged in August, with stocks at retailers falling amid strong sales. The unchanged reading in inventories reported by the Commerce Department's Census Bureau on Tuesday followed a 0.1% gain in July. Business inventories decreased at a $18.3 billion annualized rate in the second quarter, subtracting 3.29 percentage points from GDP.
BlackRock is set to add to its roster of inflation-protected ETFs with the iShares 0-1 Year TIPS Bond ETF (ICPI) , giving investors a chance to capture CPI-linked adjustments without the bruising rate sensitivity that hit longer-dated TIPS in recent years.
* US Retail Sales data falls below expectations in September. * Fed's Stephen Miran calls for further rate cuts. * Traders see 85% chance of US interest rate cut next month. By Pablo Sinha. Nov 25 - Gold prices edged down on Tuesday as some traders booked profits after prices hit an over one-week high earlier in the session on increased rate cut expectations.
U.S. business inventories were unexpectedly unchanged in August, with stocks at retailers falling amid strong sales. The unchanged reading in inventories reported by the Commerce Department's Census Bureau on Tuesday followed a 0.1% gain in July. Business inventories decreased at a $18.3 billion annualized rate in the second quarter, subtracting 3.29 percentage points from GDP.
Canada will report gross domestic product for Q3 Friday, plus detailed figures for the month of September, and the preliminary estimate for October with no details, said Scotiabank. Q3 growth is likely to land around 0.5% quarter over quarter, seasonally adjusted annual rate on an expenditure-accounts basis that fully accounts for net trade and inventory effects, noted the bank.
* Indexes: Dow up 0.3%, S&P 500 off 0.1%, Nasdaq down 0.6% * Alphabet up after report on talks with Meta to supply AI chips. * Nvidia (NVDA), AMD lead declines after Alphabet report. * Retail sales, producer inflation data in focus. By Johann M Cherian.
Canada's main stock index edged higher in choppy trading on Tuesday, as gains in consumer-related shares offset losses in energy stocks, while investors assessed U.S. economic data amid rising expectations of a Federal Reserve rate cut. At 10:21 a.m. ET, Toronto's S&P/TSX composite index was up 0.2% at 30,659.44 points.
* Economic data releases fail to alter Fed rate cut expectations. * Retail sales and PPI data show mixed economic signals. * Fed officials' comments support further easing, boosting rate cut probability. By Davide Barbuscia.
U.S. consumer confidence sagged in November as households worried about jobs and their financial situation, likely in part because of the recently ended government shutdown. The Conference Board said on Tuesday its consumer confidence index dropped to 88.7 this month from an upwardly revised 95.5 in October.
* Retail sales increase 0.2% in September, below economists' expectations. * Sales excluding automobiles, gasoline, building materials and food services fall 0.1% * Producer prices increase 0.3%, with energy prices accounting for bulk of the rise. * Producer goods prices excluding food and energy rise 0.2% * Consumer confidence deteriorates to seven-month low in November. By Lucia Mutikani.
The Reserve Bank of New Zealand is widely forecast to cut the OCR rate by 25bps to 2.25% at 8 p.m. ET on Tuesday. The shadow board supports the decision, wrote the bank in a note to clients. Market implied rates point to limited easing beyond November, stated SocGn.
Best Buy Co Inc? shares are trading higher after the company reported?third-quarter?2026 earnings. Sales?increased 2.4%?year over year to?$9.67 billion, beating the consensus of?$9.59 billion.
The Conference Board's measure of consumer confidence fell to 88.7 in November from 95.5 in October, a larger drop than a reading of 93.3 expected in a survey compiled by Bloomberg as of 7:35 am ET.
U.S. consumer confidence sagged in November as households worried about jobs and their financial situation, likely in part because of the recently ended government shutdown.
* US Retail Sales data falls below expectations in September. * Fed's Stephen Miran calls for further rate cutsTraders see 85% chance of US interest rate cut next month. By Pablo Sinha. Gold prices held largely steady on Tuesday, as softer-than-expected U.S. retail sales data reinforced traders' expectations that the Federal Reserve will trim interest rates in December.
* Monetary Policy Rate stays at 27% * Economists had predicted another rate cut. * Analysts say lower deposit rate signals confidence. * Bank wants to see inflation fall to single digits. By Elisha Bala-Gbogbo and Chijioke Ohuocha.
Canada's main stock index opened higher on Tuesday, with consumer staples' shares leading the gains, as investors assessed a series of economic data out of the U.S. amid growing expectations of an imminent rate cut by the Federal Reserve. At 9:31 a.m. ET, Toronto's S&P/TSX composite index was up 0.2% at 30,655.90 points.
The European Commission proposed on Tuesday to start disciplinary steps against Finland for running too high a budget deficit, that cannot be full explained by only higher defence spending. Under European Union rules, governments cannot run budget deficits higher than 3% of GDP.
U.S. retail sales rose 0.2% after an unrevised 0.6% gain in August, the Commerce Department said on Tuesday, short of the 0.4% rise expected by economists polled by Reuters. Separately, the Labor Department said the Producer Price Index for final demand increased 0.3%, which matched expectations, after an unrevised 0.1% drop in August.
* Futures: Dow up 0.06%, S&P 500 off 0.03%, Nasdaq down 0.23% * Alphabet up after report on talks with Meta to supply AI chips. * Nvidia (NVDA), AMD lead declines after Alphabet report. * Retail sales, producer inflation data in focus. By Johann M Cherian.
ADP's weekly measure of private payrolls showed a preliminary average decrease of 13,500 jobs in the four weeks ending on Nov. 8. "Consumer strength remains in question as we enter the holiday hiring season, which might be playing into delayed or curtailed job creation," ADP said.
Gold traded higher early on Tuesday on rising hopes for December rate cut from the Federal Reserve while a delayed report on U.S. wholesale price inflation in September matched expectations. Gold for February delivery was last seen up US$45.00 to US$4,175.80 per ounce.
The Case-Shiller National Home Price index fell by 0.3% in September before seasonal adjustment following a 0.4% decrease in August. National home prices were up 1.3% year-over-year, down from 1.4% in August. The 10-city index and 20-city index were both down 0.5% in September.
The FHFA's measure of home prices held steady in September after an unrevised 0.4% increase in the previous month, below a 0.2% gain expected in a survey compiled by Bloomberg. Prices were up 1.7% from a year earlier in September. For the third quarter as a whole, home prices were up 0.2% from Q2 and up 2.2% from Q3 2024, slower than a 3.1% four-quarter gain in the previous quarter.
U.S. producer prices rebounded in September?as the cost of energy goods surged and producers passed on some tariffs. The Producer Price Index for final demand increased 0.3% after an unrevised 0.1% drop in August, the Labor Department's Bureau of Labor Statistics said on Tuesday. In the 12 months through September, the PPI increased 2.7% after advancing by the same margin in August.
The US Producer Price Index rose by 0.3% in September following a 0.1% decrease in August, as expected in a survey compiled by Bloomberg as of 7:35 am ET. Energy prices jumped by 3.5% in the month, while food prices rose by 1.1%. After excluding food and energy prices, core PPI rose by 0.1%, below the 0.2% gain expected and following a 0.1% drop in the previous month.
U.S. producer prices rebounded in September as the cost of energy goods surged and producers passed on some tariffs. The Producer Price Index for final demand increased 0.3% after an unrevised 0.1% drop in August, the Labor Department's Bureau of Labor Statistics said on Tuesday. In the 12 months through September, the PPI increased 2.7% after advancing by the same margin in August.
US retail sales rose by 0.2% in September, a smaller gain than the 0.4% increase expected in a survey compiled by Bloomberg as of 7:35 am ET and following the previous month's 0.6% gain. Excluding a 0.3% decrease in motor vehicle sales, retail sales were up 0.3%, as expected.
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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