U.S. stocks closed modestly lower on Monday, weighed down by a jump in Treasury yields and economic data that showed tariffs remained a drag on the manufacturing sector, as investors looked toward the Federal Reserve's policy announcement next week.
US equity investors will focus on Federal Reserve Chair Jerome Powell's speech this week and the central bank's preferred inflation data while keeping an eye on the read for Black Friday and Cyber Monday sales. * On Tuesday, investors will parse Powell's comments in relation to monetary policy and economic growth.
Bank of Israel Governor Amir Yaron said stablecoins can no longer be viewed as marginal, citing their trillion-dollar trading volumes and growing systemic risks.
* Futures off: Dow 0.45%, S&P 500 0.56%, Nasdaq 0.68% U.S. stock index futures fell on Monday as investors stepped to the sidelines and awaited economic data and remarks from Federal Reserve Chair Jerome Powell to gauge the central bank's verdict on monetary policy when it meets later this month.
Wall Street futures pointed moderately lower pre-bell Monday as traders weighed a possibly tighter monetary policy in Japan and awaited fresh economic data.
The U.S. Federal Reserve, sometimes criticized for being too consensus-driven, may see a run of divided votes on interest rates that could weaken its policy message and intensify doubts about its independence from political influence.
The Bank of Canada lowered its policy interest rate for the second consecutive time in October, but indicated that it believed it had finished cutting rates for the time being, said National Bank of Canada. This conviction has likely strengthened in recent weeks, noted the bank.
* European stock indexes open lower, defence stocks fall. * Bank of Japan governor says will consider raising rates. * Bitcoin down, gold at six-week high. By Elizabeth Howcroft. European stock markets fell on Monday, pulling back from recent gains, while the yen and Japanese government bond yields got a boost from comments suggesting the central bank could hike interest rates.
Asian stock markets turned in a choppy Monday, on outlooks for central banks in the US and Japan, and as traders awaited fresh catalysts. Hong Kong and Shanghai in the green, while Tokyo fell back.
Societe Generale in its early Monday economic news summary pointed out: -- Risk off start to December, seasonals bearish US dollar and bonds, bullish oil. -- China official manufacturing PMI stays in contraction zone for record eighth month running in November. -- Week ahead: United States PCE inflation, ISM surveys, ADP employment, Eurozone flash consumer price index, German industry orders.
Finding sources of new capital will be the main challenge for Russian banks in 2026 due to the central bank tightening the banking sector oversight, the CEO of Russia's second largest lender VTB Andrei Kostin told Reuters. "We have a number of changes planned by the central bank aimed at strengthening regulation and calculating capital for non-core assets.
Britain's manufacturing sector recorded its first increase in activity since September 2024 last month, bolstered by improved domestic demand and less of a slowdown in orders from overseas, a survey showed on Monday. "November saw a stabilisation in new business following a 13-month sequence of contraction.
* Silver hits all-time high of $57.86 per ounce. * US dollar at two-week low. * New Fed chair likely to be announced before Christmas. By Pablo Sinha. Gold prices climbed on Monday to their highest level in six weeks, driven by investor expectations of a possible U.S. interest rate cut later this month and shifts in Federal Reserve leadership, while silver surged to a record high.
* Yen rises as investors bet on December BOJ hike. * 25bp Fed cut this month nearly fully priced in. * Dollar eases as traders weigh outlook for US rates, Fed leadership. By Rae Wee and Amanda Cooper.
Euro zone manufacturing activity slipped back into contraction territory in November on weakening demand that forced firms to cut jobs at the quickest rate in seven months, a private survey showed.
German consumer sentiment has slumped to its lowest point of the year, just as shoppers should be flocking to stores for Christmas gifts, raising concerns about the health of Europe's largest economy during what retailers call the "golden quarter".
Standard Chartered revised its forecast for China's 2026 gross domestic product growth to 4.6% from 4.3%, citing the country's resilient exports and continued gains in productivity, it said in a note released on Monday.
Russian banks are ready to restructure some Russian Railways debt as long as the central bank does not increase reserve requirements for these loans, VTB CEO Andrei Kostin told Reuters in an interview.
BEIJING, Dec. 1, 2025 ?Beijing Review has recently published an article by Yan Yilong, a professor at Tsinghua University's School of Public Policy and Management, analyzing what China's 15th Five-Year Plan means for China and the world.
SoftBank Group Corp: * SOFTBANK CEO SON: I DIDN'T WANT TO SELL A SINGLE SHARE OF NVIDIA BUT I HAD NEED FOR MONEY TO INVEST IN OPENAI AND OUR OPPORTUNITIES. * SOFTBANK CEO SON: WHEN SUPERINTELLIGENCE COMES, AT LEAST 10% OF GLOBAL GDP WILL BE SUBSTITUTED BY AI AND AI ROBOTS Further company coverage:
Euro area government bond yields edged up on Monday as investors looked to U.S. Treasuries for direction, while the ultra-long end of the German curve hovered near its steepest levels in over six years.
* 2yr, 5yr & 10yr JGB rise sharply to 17-year highs. * Yen rallies to 155.39 per dollar. * Nikkei falls 2%; banking index rises to 19-yr peak. By Junko Fujita. TOKYO, Dec 1 - Japanese government bonds tumbled in the heaviest selling for four months on Monday while stocks slid and the yen rose on the prospect of higher interest rates as soon as this month.
If White House adviser Kevin Hassett becomes President Donald Trump's pick to head the Federal Reserve from May, he will effectively serve as a "shadow Fed Chair" for five months - with markets hanging on his every word. Ever since Trump made clear he wanted to fire current Fed Chair Jerome Powell - or at least deny him a second term - investors have wondered how the succession would unfold.
* Yen perks up, JGB yields soar after BOJ Governor Ueda comments. * US economic data releases to influence market sentiment. * Investors eye Fed Chair Powell's comments for US rate cut clues. By Ankur Banerjee.
* Yen rises as investors bet on December BOJ hike. * 25bp Fed cut this month nearly fully priced in. * Dollar eases as traders weigh outlook for US rates, Fed leadership. By Rae Wee.
A look at the day ahead in European and global markets from Ankur Banerjee. The year that started with a rate hike in Japan might just end with another after the clearest signal yet from Bank of Japan Governor Kazuo Ueda of a possible move soon, setting up the stage for a pivotal month for monetary policy divergence.
A look at the day ahead in European and global markets from Ankur Banerjee. The year that started with a rate hike in Japan might just end with another after the clearest signal yet from Bank of Japan Governor Kazuo Ueda of a possible move soon, setting up the stage for a pivotal month for monetary policy divergence.
* Yen perks up after BOJ Governor Ueda comments. * US economic data releases to influence market sentiment. * Investors eye Fed Chair Powell's comments for US rate cut clues. By Ankur Banerjee.
Manufacturing was weak in the U.S., Europe and Asia's biggest economies in November, business surveys showed on Monday, as subdued domestic demand and tariff uncertainties weighed.
* Asia's manufacturing declines amid sluggish demand and global uncertainties. * China's factory activity contracts despite rise in new export orders. * Emerging markets like Indonesia and Vietnam show strong factory activity.
Japan's Nikkei share average fell on Monday after a four-session winning run, as government bond yields rose and the yen firmed on growing bets of a December interest rate hike. The Nikkei fell 1.68% to 49,407.31 by the midday break, starting the month on a weak note after the benchmark snapped seven straight months of gains in November.
By Junko Fujita. Japanese government bond yields hit 17-year highs and the yen strengthened on Monday, as Bank of Japan Governor Kazuo Ueda's comments fuelled bets that the central bank could hike interest rates as early as this month. The two-year JGB yield, the most sensitive to the BOJ's policy rate, rose 2 basis points to 1.01%, its highest level since June 2008.
Global shares fell and U.S. Treasury yields rose on Monday as investors took a breather following five straight sessions of gains and ahead of key economic data that could support bets on Federal Reserve interest rate cuts. Equities on Wall Street finished lower, with utilities, healthcare and industrial stocks leading losses.
* Investors bet on US rate cut this month. * Yen perks up on hopes of rate hike. * Economic data this week to take centre stage. By Ankur Banerjee. Asian stocks made a steady start on Monday to the final month of 2025 as U.S. rate-cut optimism lifted risk sentiment ahead of economic data, while the yen firmed, with investors weighing the prospect of a near-term rate hike.
* RatingDog manufacturing PMI 49.9 in Nov vs 50.6 in Oct. * Output stalls, dragged by slower new orders. * Trade truce sent export orders to eight-month high. * Markets await key policymaking meeting in Dec. China's factory activity in November contracted slightly as production growth came to a halt and new orders slowed, a private-sector survey showed on Monday.
The dollar slipped against the Japanese yen on Monday following Bank of Japan Governor Kazuo Ueda's strongest indication to date that a December interest rate increase could be under consideration, providing support to the embattled yen. Meanwhile, mounting expectations for a December interest rate reduction by the Federal Reserve exerted downward pressure on the dollar.
* Traders eye BOJ Gov Ueda's speech for clues on rate hike timing. * 25bp Fed cut this month nearly fully priced in. * Dollar eases, yen supported. By Rae Wee. The dollar began December on the back foot, as investors braced for a pivotal month that could bring the Federal Reserve's final rate cut of the year and the confirmation of a dovish successor to Chair Jerome Powell.
Japan's two-year government bond yield rose to a 17-year high on Monday on caution for the Bank of Japan's early interest hike, with the market awaiting comments from the central bank governor later in the day. The two-year JGB yield rose 1 basis point to 1%, its highest level since June 2008.
Japan's manufacturing activity shrank for the fifth consecutive month in November, weighed by sluggish demand, though the outlook improved slightly, a private-sector survey released on Monday showed.
The company adopted a bitcoin treasury plan by deploying a strategy inspired by Metaplanet (MTPLF), with 66% shareholder approval, to mitigate negative returns from government bonds.
White House economic adviser Kevin Hassett said on Sunday that he would be happy to serve as the next chairman of the U.S. Federal Reserve if chosen by President Donald Trump.
* Stocks rebounding after biggest pullback since April. * AI news keep markets on edge amid big gains for Alphabet shares. * Manufacturing, services activity, consumer sentiment reports due. * Bets rise on December Fed rate cut. By Lewis Krauskopf.
Investors will look in the coming week for signals about profitability for artificial intelligence companies, as well as the broader economy's health, to steady the U.S. equity market. Stocks rebounded this week from their biggest pullback since April, helped by a firming conviction that the U.S. Federal Reserve will cut interest rates in December.
* China's manufacturing contraction continues for eighth month. * Official Nov manufacturing PMI at 49.2 vs 49.0 in Oct. * Non-manufacturing PMI contracts for first time in nearly three years.
China's non-manufacturing activity shrank in November for the first time since December 2022, an official survey showed on Sunday. The non-manufacturing purchasing managers' index, which includes services and construction, fell to 49.5 from 50.1 in October, the lowest reading since December 2022, according to the National Bureau of Statistics.
China's factory activity shrank for an eighth month in November, an official survey showed on Sunday, suggesting the need for further stimulus to boost demand, as manufacturers struggle with lacklustre domestic demand. The official purchasing managers' index rose to 49.2 in November, versus 49.0 in October, remaining below the 50-mark separating growth from contraction.
* Black Friday online sales hit $11.8 billion, up 9.1% from last year, Adobe Analytics says. * AI tools help consumers find deals, boosting online shopping. * Physical store traffic subdued due to inflation, trade policy concerns. * Cyber Monday projected to hit $14.2 billion in online sales, Adobe says. By Chandni Shah and Siddharth Cavale.
American shoppers spent a record $11.8 billion online on Black Friday, up 9.1% from last year, final data from Adobe Analytics showed. Adobe Analytics expects shoppers to spend $5.5 billion on Saturday and $5.9 billion on Sunday, up 3.8% year-over-year and 5.4% year-over-year respectively.
Despite low sentiment and falling prices, Bitwise?s Andr? Dragosch says bitcoin is trading as if a recession is imminent, while macro growth expectations are already improving.
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.
Log In Required
Publication Date