* Silver hits record high of $61.61/oz. * Silver crossed $60/oz for the first time on Tuesday. * Fed expected to cut rates, decision due at 1900 GMT. By Pablo Sinha. Gold prices edged down on Wednesday as investors awaited an expected interest rate cut by the U.S. Federal Reserve and clues on its future policy, while silver extended its rally to new highs.
* Futures off: Dow 0.06%, S&P 500 0.06%, Nasdaq 0.15% * Fed rate decision due at 2:00 p.m. ET. * GE Vernova rises after bullish 2026 revenue outlook. * GameStop slips on third-quarter revenue miss. By Johann M Cherian and Pranav Kashyap.
Germany's 10-year borrowing costs hit fresh multi-month highs on Wednesday as traders price out any chance of further European Central Bank rate cuts, while looking ahead to an important Federal Reserve meeting later in the day. French 10-year yields rose 3.2 bps to 3.59%, also around their highest since March.
The US dollar fell against its major trading partners early Wednesday as markets prepare for the Federal Open Market Committee's rate decision at 2:00 pm ET and Federal Reserve Chairman Jerome Powell's press conference at 2:30 pm ET.
Brazil's 12-month inflation slowed in November to its lowest level in more than a year, data from statistics agency IBGE showed on Wednesday, undershooting market forecasts ahead of the central bank's final policy decision of 2025.
There is little mystery about what the Bank of Canada will do on Wednesday, said Bank of Montreal. Three strong job reports will likely send the BoC back to the sidelines after a couple of rate trims in the fall, noted the bank.
* Markets brace for a Fed hawkish rate cut. * BOJ is expected to hike in December, but fiscal policy in focus. * Euro supported by a more hawkish rate outlook. By Stefano Rebaudo. The U.S. dollar edged down versus the euro and the yen on Wednesday as investors awaited the Federal Reserve policy meeting later in the day which is expected to deliver a so-called hawkish rate cut.
The Bank of Canada has cut by 100bps this year, taking the key policy rate to 2.25% -- two cuts came toward the start of the year with two at the last two meetings in September and October but the flow of data of late suggests the BoC may well be content with the stance of monetary policy, said MUFG.
Canacol Energy (CNNEQ) said Wednesday that it has signed an agreement with a group of its 5.75% senior unsecured notes holders for debtor-in-possession financing. The financing, which is comprised of a US$45 million delayed-draw new-money term loan, also carries the option to increase it by up to $22 million in letters of credit to renew and/or replace certain existing letters of credit.
What is expected to be one of the most ructious Federal Reserve policy meetings in years this week could well prove to be the road test for financial markets on how U.S. monetary policy debates will shape up in 2026.
STOCKS: The benchmark BSE Sensex closed 0.3% lower at 84,391.27, while the broader NSE index declined 0.3% to 25,758, on concerns that the U.S. Federal Reserve may signal a more hawkish 2026 outlook after an expected rate cut later in the day.
The Bank of Canada meets on Wednesday to set interest rates, and the policy statement is scheduled to be released at 9:45 a.m. ET, said ING. The policy rate is unanimously expected to be left at 2.25%, wrote the bank in a note. The meeting comes at a time of hawkish global re-pricing -- led largely by Australia, stated ING.
By Marc Jones, global markets correspondent?. What matters in U.S. and global markets today. Wall Street futures and bond and FX markets are hunkering down as crunch time nears for a divided Federal Reserve policy board, while earnings from Oracle and Broadcom will provide the latest test for sky-high valuations in the AI space. I'll get into all the market news below.
* FTSE 100 up 0.1%, FTMC down 0.1% * HSBC (HSBC), StanC climb after BofA upgrade. * Media stocks rise after JPMorgan's bullish views. Dec 10 - UK shares were mixed on Wednesday, as investors refrained from placing big bets ahead of the U.S. Federal Reserve's interest rate decision.
Futures for Canada's main stock index ticked lower on Wednesday as investors awaited highly anticipated interest rate decisions by the Bank of Canada and the U.S. Federal Reserve later in the day. Futures on the S&P/TSX Composite Index were down 0.2% at 05:30 a.m. ET.
* Silver hits record high of $61.61/oz. * Silver crossed $60/oz for the first time on Tuesday. * Fed expected to cut rates, decision due at 1900 GMT. By Pablo Sinha. Gold prices edged down on Wednesday as investors awaited an expected U.S. Federal Reserve rate cut and clues on future policy, while silver extended its rally to new highs. Spot gold was down 0.4% to $4,193.60 per ounce at 1113 GMT.
Wall Street ended higher on Wednesday,? after the Federal Reserve cut interest rates by a quarter percentage point as expected and investors bet on further easing down the road even as the central bank signaled that it will put further cuts on pause for now.
* Futures off: Dow 0.17%, S&P 500 0.15%, Nasdaq 0.23% U.S. stock index futures fell on Wednesday, ahead of a Federal Reserve monetary policy decision widely expected to deliver an interest rate cut alongside hawkish commentary on the path of future easing.
The U.S. Federal Reserve is expected to cut interest rates on Wednesday as policymakers grapple with gaps in economic data caused by the recent government shutdown and work through competing views about the risks facing the economy.
The U.S. Federal Reserve may not give President Donald Trump all the rate cuts he wants, but the view of the economy policymakers included in new economic projections on Wednesday should buoy the administration nonetheless with its outlook for faster growth, lower inflation and steady unemployment heading into the 2026 midterm elections.
* Projections to set baseline for Powell's successor, show potential for further rate cuts. * Inflation, affordability issues remain unresolved. * Trump's economic approval ratings have come down. * Fed policy statement, projections due at 2 p.m. EST. By Howard Schneider.
* Economists expect BoC to hold rates steady until 2027. * Money market bets inclined towards rate hike in Q4. * Canada's economy shows resilience despite US tariffs. * Unemployment rate falls to 16-month low of 6.5% By Promit Mukherjee.
* * Three policymakers dissent on policy decision. * Policymakers see one rate cut in 2026. By Howard Schneider. The U.S. Federal Reserve cut interest rates on Wednesday in another divided vote, but signaled it will likely pause further reductions in borrowing costs as officials look for clearer signals about the direction of the job market and inflation that "remains somewhat elevated."
Sterling edged up against the dollar and was roughly unchanged versus the euro as investors braced for the Federal Reserve policy meeting outcome due later in the session and data on British economic growth on Friday. The currency has added around 1% since finance minister Rachel Reeves delivered the budget on November 26.
Cryptocurrency bettors are almost certain that the?Federal Reserve?will enact a quarter-point interest rate cut at the end of its December meeting on Wednesday. The?odds?of a 25 basis-point cut stood at 97%?on the decentralized prediction platform?Polymarket, up from 70% only a month ago.
The Indian rupee slipped on Wednesday, ending a session of back-and-forth price action shaped by portfolio flows, likely maturity of positions in the non-deliverable forwards market and caution ahead of the Federal Reserve's policy decision. The rupee closed at 89.9650 to the U.S. dollar, slightly weaker than the close of 89.8750 in the previous session.
Greek industrial output rose by 6.4% year-on-year in October, after an upwardly revised 7.3% increase in September, data from statistics service ELSTAT showed on Wednesday. A breakdown of index components showed manufacturing production rose 4.2% from the same month in 2024.
Germany's 10-year borrowing costs hit fresh multi-month highs on Wednesday as traders price out any chance of further European Central Bank rate cuts, while looking ahead to an important Federal Reserve meeting later in the day.
* Delivery Hero gains after saying it evaluates strategic options. * Aegon falls after announcing U.S. relocation plans. * Renewable energy firm set to extend Tuesday's gains. By Purvi Agarwal and Ragini Mathur.
Canacol Energy Ltd : * ENTERS AGREEMENT WITH AD HOC GROUP OF HOLDERS OF CO'S 5.75% SENIOR UNSECURED NOTES DUE 2028. * DEBTOR-IN-POSSESSION FINANCING COMPRISED OF $45 MILLION DELAYED-DRAW NEW-MONEY TERM LOAN, OTHERS Further company coverage:
* Stocks up 0.33%, currencies up 0.1% * Ukraine clinches deal to swap GDP-linked warrants. * China real estate shares jump. By Niket Nishant. Emerging market assets inched higher ahead of a widely expected interest rate cut by the Federal Reserve on Wednesday, while investors also monitored developments in Ukraine that could influence global risk sentiment.
* Silver hits record high of $61.61/oz. * Silver crossed $60/oz for the first time on Tuesday. * Fed rate cut decision due at 1900 GMT today. By Pablo Sinha. Gold prices were little changed on Wednesday ahead of an anticipated Federal Reserve rate cut, with investors awaiting comments from Chair Jerome Powell on future policy moves, while silver extended its historic rally above $60 an ounce.
Mortgage rates are unlikely to plunge after this week's Federal Reserve meeting, but borrowers could see a slow, uneven drift lower rather than an immediate break, economists and housing forecasters say.
* European stocks, S&P futures flat. * Fed seen cutting 25bps, focus on dots and Powell. * Yen shaky after stumble takes it to record low on euro. * Silver bursts above $60 an ounce. By Amanda Cooper. LONDON, Dec 10 - Global stocks dipped on Wednesday as crunch time neared for a divided Federal Reserve policy board and earnings results that could test sky-high valuations in the AI sector.
Most Asian currencies and stocks were
subdued on Wednesday as investors awaited the U.S. Federal
Reserve policy outlook for 2026, while the Indonesian rupiah
slipped on reports a trade deal with the ...
* Silver hits record high of $61.46/oz. * Silver crossed $60/oz for the first time on Tuesday. * White House adviser Hassett says 'plenty of room' to cut rates. By Ishaan Arora.
The International Monetary Fund on Wednesday urged China to speed up structural reform, as global pressure mounts on the world's second-largest economy to shift to a consumption-led growth model and rein in debt-driven investment and exports. The manufacturing juggernaut has posted a $1 trillion trade surplus for the first time and is set to drive up to 40% of global growth in 2025.
The CNN Money Fear and Greed index showed some easing in the overall fear level, while the index remained in the ?Fear? zone on Tuesday. U.S. stocks settled mixed on Tuesday, with the Dow Jones index falling over 150 points during the session ahead of the interest-rate decision by the Federal Reserve.
Japan's broad Topix gauge of shares touched a record high before losing momentum on Wednesday, as investors awaited key central bank decisions at home and abroad.
* Silver hits record high of $61.46/oz. * Silver crossed $60/oz for the first time on Tuesday. * White House adviser Hassett says 'plenty of room' to cut rates. By Ishaan Arora.
The Indonesian rupiah weakened on
Wednesday, while other Asian currencies and equities trod water
as investors globally awaited guidance from a potentially
divided U.S. Federal Reserve policy board ...
* Yen nurses losses after broad fall overnight. * BOJ expected to hike in December, but future moves uncertain. * Dollar, other currencies rangebound ahead of Fed outcome. By Rae Wee.
A look at the day ahead in European and global markets from Rae Wee. Much of investors' attention for the week has been on the Federal Reserve's rate decision, but for a brief moment on Wednesday, focus in currency markets turned to the yen. The yen looked punch-drunk in Asia after a sudden spill overnight that saw it fall to a record low against the euro and slide nearly 0.9% against the Aussie.
A look at the day ahead in European and global markets from Rae Wee. Much of investors' attention for the week has been on the Federal Reserve's rate decision, but for a brief moment on Wednesday, focus in currency markets turned to the yen. The yen looked punch-drunk in Asia after a sudden spill overnight that saw it fall to a record low against the euro and slide nearly 0.9% against the Aussie.
* Nikkei slips in nervous Asia trade, S&P futures flat. * Fed seen cutting 25bps, focus on dots and Powell. * Yen shaky after stumble takes it to record low on euro. * Silver's bull run breaks more chart barriers. By Wayne Cole.
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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