Fortress Investment Group bought the property in 2021 after it was largely destroyed by Hurricanes Irma and Maria and financed a major renovation that featured reinforcement standards designed to protect against a category 5 hurricane.
Gold traded higher midafternoon on Wednesday as the dollar and treasury yields fell after a report showed an unexpected drop in U.S. private-sector jobs last month, firming expectations the Federal Reserve will cut interest rates next week. Gold for February delivery was last seen up US$16.80 to US$4,237.60 per ounce.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund ahead 1.2%. The Philadelphia Housing Index was climbing 2.2%, and the Real Estate Select Sector SPDR Fund was easing 0.2%. Bitcoin was increasing 1.9% to $93,102, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.07%. In eco...
The US services sector remained in growth territory last month, two surveys showed Wednesday, though there were some signs of demand pressure. The Institute for Supply Management's purchasing managers' index ticked higher at 52.6 last month, the highest reading since February, from 52.4 in October.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.7% and the Financial Select Sector SPDR Fund ahead 1.2%. The Philadelphia Housing Index was climbing 2.3%, and the Real Estate Select Sector SPDR Fund was easing 0.1%. Bitcoin was increasing 1.2% to $93,012, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.07%. In cor...
US equity indexes rose in midday trading on Wednesday as a surprise drop in private sector jobs sent government bond yields lower, which helped raise the odds of an interest rate cut next week.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. We increase our 12-month target price by CAD30 to CAD280, 18.3x our FY 26 EPS view of CAD15.25, a wider risk premium than the peer average of 12.7x given its scale and superior earnings profile. MT Newswires does not provide investment advice.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. We increase our 12-month target price by USD20 to USD200, 18.3x our FY 26 EPS view of CAD15.25, a wider risk premium than the peer average of 12.7x given its scale and superior earnings profile. MT Newswires does not provide investment advice.
India's real gross domestic product growth accelerated sharply to 8.2% year over year in Q3, up from 7.8% in 2Q, even as nominal GDP growth eased slightly to 8.7% year over year versus 8.8, said Societe Generale.
U.S. Treasury Secretary Scott Bessent on Wednesday expressed optimism about the economic outlook next year, but said interest rate cuts were still needed given a weakening in sectors including housing.
* Indexes up: Dow 0.54%, S&P 500 0.22%, Nasdaq 0.09% * Investors assess ADP employment and ISM services reports. * Microsoft (MSFT) lowers AI software sales quota - The Information. * Small caps outperform broader Wall Street. By Johann M Cherian and Pranav Kashyap.
U.S. stocks moved higher on Wednesday, as a flurry of economic data kept expectations elevated for an interest rate cut by the Federal Reserve next week, while a fall in Microsoft's shares held gains in check.
The European stock markets closed little changed in Wednesday trading as the Stoxx Europe was up 0.08%, Germany's DAX edged 0.1% lower, the FTSE 100 shed 0.1%, France's CAC increased 0.16%, and the Swiss Market Index was off 0.25%. The eurozone's private sector economy expanded for the sixth straight month in November, according to the HCOB Eurozone Composite PMI Output Index, which increased t...
* Shares rebound, markets turn upbeat. * Dollar drops again as investors bet on dovish Fed under Hassett. * Brent crude rises more than 1% * Spot gold hovers around $4,200 per ounce. By Chibuike Oguh. NEW YORK, Dec 3 - Global shares rose while U.S. Treasury yields fell after weak economic data solidified expectations of a Federal Reserve interest rate cut.
Lower interest rates would likely eliminate the need for a 50-year mortgage floated by President Donald Trump to boost housing affordability, Joseph Lavorgna, a counselor to U.S. Treasury Secretary Scott Bessent, said on Wednesday.
* Market to continue to focus on labor market weakness. * US services sector index flat; jobs index still in contraction. * US 2/10 yield curve little changed, but still in steepening bias. By Gertrude Chavez-Dreyfuss.
After selling $260 million of voter-approved bonds for the project, county officials are eyeing a sales tax ballot measure in 2026 to cover the higher cost.
* Bessent advocates for residency requirement for Fed bank presidents. * Current Fed leaders often hired from outside their districts. * Fed Act lacks residency rules; merit cited in leadership selection. By Dan Burns and Michael S. Derby.
* US private payrolls decrease in November, ADP says. * Silver hits record high at $58.94. By Anmol Choubey. Gold prices edged up on Wednesday after weak private payrolls data reinforced expectations of a U.S. interest rate cut next week, while silver hit a fresh record high.
The crucial U.S. services sector maintained its expansion in November, according to two key survey reports, reinforcing the economy's surprising resilience in the fourth quarter. However, the data also highlighted lingering inflationary pressures and a softening labor market, setting a complex backdrop for Federal Reserve policy.
Employment in the US private sector surprisingly fell in November, ADP reported Wednesday, solidifying expectations that the Federal Reserve will cut interest rates again next week. Private jobs decreased by 32,000 last month, according to the payroll processing firm. The decline follows an increase in October that was revised to 47,000 from 42,000, the latest ADP report showed.
Ukraine's Parliament approved the 2026 budget on Wednesday, planning to allocate nearly a third of the country's gross domestic product to defence as the war with Russia rages on. Ukraine has been rocked by a political crisis following an investigation into corruption in the energy sector.
The Institute for Supply Management's US services index rose to a reading of 52.6 in November from 52.4 in October, compared with expectations for a decrease to a reading of 52.0 in a survey compiled by Bloomberg as of 7:30 am ET.
U.S. Treasury Secretary Scott Bessent on Wednesday said he plans to advocate for a requirement that the 12 regional Federal Reserve bank presidents reside in their districts for at least three years before being appointed to those positions.
The U.S. services sector activity held steady in November, with employment still subdued and prices for inputs elevated, a survey showed on Wednesday. The Institute for Supply Management said its nonmanufacturing purchasing managers index was little changed at 52.6 last month from 52.4 in October. The services sector accounts for more than two-thirds of U.S. economic activity.
Business Activity Index at 54.5%; New Orders Index at 52.9%; Employment Index at 48.9%; Supplier Deliveries Index at 54.1% TEMPE, Ariz. ? Services Business Survey Committee: "In November, the Services PMI??registered a reading of 52.6 percent, 0.2 percentage point higher than the October figure of 52.4 percent.
U.S. Treasury Secretary Scott Bessent on Wednesday expressed optimism about the economic outlook next year, but said interest rate cuts were still needed given a weakening in sectors including housing.
Canada's services economy contracted in November at the steepest pace in five months as economic uncertainty led to declines for employment and new business, S&P Global's Canada services PMI data showed on Wednesday. The headline Business Activity Index fell to 44.3 last month from 50.5 in October, posting its lowest level since June.
Gold traded higher early on Wednesday as the dollar and treasury yields fell after a report showed an unexpected drop in U.S. private-sector jobs last month, firming expectations the Federal Reserve will cut interest rates next week. Gold for February delivery was last seen up US$34.60 to US$4,255.40 per ounce.
China's PMIs for November, published over the past couple of days, confirm a further weakening in growth momentum, on balance, said ABN Amro. To start with the manufacturing side, the official index published by NBS on Sunday rose modestly to 49.2, from October's 49.0, but a bit less than expected, with consensus at 49.4, wrote the bank in a note.
* Futures up: Dow 0.20%, S&P 500 0.26%, Nasdaq 0.20% * Private payrolls unexpectedly decrease in Nov, ADP says. * Marvell jumps as chipmaker bolsters AI ambitions with Celestial deal. * Macy's slips on striking cautious tone about holiday spending. By Johann M Cherian and Pranav Kashyap.
Bank On National Data Hub report from the Federal Reserve Bank of St. Louis highlights the growing momentum, impact of the Bank On movement NEW YORK, Dec. 3, 2025 New data from the?Bank On National Data Hub shows how Bank On certified accounts have brought millions of un- and underbanked households into the financial mainstream, generating billions of dollars in banking activity.
U.S. Treasury yields fell on Wednesday after data showed a surprise decrease in private-sector payrolls in November, adding to worries about labor market weakness and cementing expectations of a rate cut by the Federal Reserve next week.
U.S. private employers unexpectedly cut jobs in November, signaling fresh weakness in the labor market and reinforcing expectations for another Federal Reserve rate cut next week. Private payrolls fell by 32,000, according to ADP's National Employment Report released Wednesday. ADP said job creation has been flat through the second half of 2025, while pay growth continues to cool.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust was 0.2% higher in Wednesday's premarket activity amid important economic data releases. US stock futures were also higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures gaining 0.2% before the start of regular trading.
U.S. Treasury yields fell after data showed a surprise decrease in private sector payrolls in November, adding to worries about labor market weakness and cementing expectations of a rate cut by the Federal Reserve next month. The benchmark 10-year yield slid 3.4 basis points to 4.0536%, from 4.0633% before the data's release.
ADP's monthly measure of private payrolls showed a decrease of 32,000 jobs in November, compared with expectations compiled by Bloomberg as of 7:30 am ET for an increase of 10,000. The November drop followed an upwardly revised 47,000-jobs increase in October.
Canada will publish Q3 labor productivity figures at 8:30 a.m. ET on Wednesday, said Scotiabank. The data could post a gain for a change, noted the bank. The Q3 GDP beat won't translate through very well to productivity, given the import distortions, stated Scotiabank. Also, the bank will watch revisions to the 2022-24 period after GDP was revised substantially higher last Friday.
U.S. private payrolls unexpectedly declined in November, the ADP employment report showed on Wednesday. Private employment decreased by 32,000 jobs last month after an upwardly revised 47,000 increase in October. The ADP report is jointly developed with the Stanford Digital Economy Lab. The BLS will release the closely watched employment report for November on December 16.
Five weeks ago, the Bank of Canada effectively declared its easing cycle was over, said National Bank of Canada. To the BoC, the policy rate is "at about the right level" to keep inflation on target and help the economy through a "structural adjustment." At the time, there was skepticism that the BoC's job was done, and to some extent, there still is, noted the bank.
ROSELAND, N.J., Dec.?3, 2025 ?Private sector employment shed 32,000 jobs in November and pay was up 4.4 percent year-over-year according to the November ADP National Employment Report? produced by ADP Research in collaboration with the Stanford Digital Economy Lab.
The county treasurer's new report describing large hikes in Chicago residential tax bills effectively takes property tax hikes off the table for the city.
The US dollar fell against its major trading partners early Wednesday ahead of a busy economic release day, starting with ADP private payrolls data for November at 8:15 am ET and delayed import and export price data for September at 8:30 am ET.
* Trump's sway over Fed policy remains in focus. * Euro investors eye Ukraine peace talks. * Analysts flag risk of fresh yen intervention near 160. * Bitcoin extends rebound into second session. By Stefano Rebaudo.
The European Commission on Wednesday put forward twin proposals of borrowing and using immobilised Russian central bank assets to help cover Ukraine's financing needs for 2026-2027. The EU executive said its set of five legal proposals included a "reparations loan" based on Russian assets largely held in Belgium and a prohibition on transferring these immobilised assets back to Russia.
The main US stock measures were trending higher in Wednesday's premarket activity as investors await a key employment report from Automatic Data Processing (ADP) to gauge the health of the labor market ahead of the Federal Reserve's monetary policy meeting next week. The S&P 500, the Dow Jones Industrial Average and the Nasdaq edged up 0.1% each before the opening bell.
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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