The US dollar rose against its major trading partners early Thursday, except for a decline versus the pound, ahead of the release of weekly jobless claims, delayed consumer price index data for November and the Philadelphia Federal Reserve's manufacturing reading for December, all at 8:30 am ET.
Sterling has continued to trade at weaker levels ahead of Thursday's Bank of England policy meeting following the release earlier in the week of the much weaker-than-expected United Kingdom consumer price index report for November, said MUFG.
Commerzbank in its "European Sunrise" note of Thursday highlighted: Markets: United States Treasury yields decline in late New York session and open lower in Asia. Fed: Atlanta Federal Reserve President Raphael Bostic says inflation is more worrying than jobs, while it's a close call.
US futures were tracking higher hours before Thursday's market open, as technology stocks stabilize while traders await inflation data from November's Consumer Price Index. In the futures, the S&P 500 was 0.4% higher, the Nasdaq was up 0.8%, and the Dow Jones advanced by 0.2% Asian markets were mixed at Thursday's close, while most European bourses were edging higher mid-session.
Societe Generale in its early Thursday economic news summary pointed out: -- Major currencies rangebound before European Central Bank, Bank of England, European Union Council summit. -- Japan: international investors bought net 1.41 trillion yen of Japanese government bonds last week, the most in eight months. -- Day ahead: ECB forecast to stay on hold, to raise gross domestic product estimate.
Asian stocks were mixed Thursday as investors awaited results of various central banks' year-end policy meetings. The Bank of Japan is widely expected to announce a rate increase on Friday, potentially taking borrowing costs to their highest level in three decades.
"Once this week is done, that's it for the year. The following week is Christmas, and then after that, the new year," said Jeff Timlin, a partner at Sage Advisory.
The Federal Reserve can afford to ease monetary policy further amid continued concerns regarding the labor market, Governor Christopher Waller said Wednesday. Last week, the central bank's Federal Open Market Committee lowered its benchmark lending rate by 25 basis points, marking a third straight cut amid ongoing job market worries.
JPMorgan Chase (JPM) has moved nearly $350 billion out of its Federal Reserve account since 2023 to increase its holdings of US Treasuries, the Financial Times reported Wednesday, citing data compiled by industry data tracker BankRegData. The bank reduced its Fed balance from $409 billion at the end of last year to $63 billion by Q3, the report added.
Fed Governor Christopher Waller said that the FOMC should continue to lower its policy rate at a "moderate" pace due to the soft labor market, adding that he is not concerned about a reacceleration of inflation and that tariffs are likely to have a one-time effect on price levels and not provide ongoing upward pressure.
A looming government shutdown marks an uncertain future for the country as economists and muni leaders point to the positive effects of stubborn inflation on state tax revenues.
Financial stocks edged higher in Wednesday afternoon trading, with the NYSE Financial Index fractionally higher and the State Street Financial Select Sector SPDR ETF increasing 0.1%. The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin was dropping 1.5% to $86,568, and the yield for 10-year US Treasuries was rising 1 basis p...
US equity indexes declined, led by the Nasdaq Composite, amid a jump in volatility and gains in government bond yields in midday trading on Wednesday. The Nasdaq dropped 1.1% to 22,863.2, with the S&P 500 down 0.7% to 6,751.9 and the Dow Jones Industrial Average 0.2% lower at 48,037.1. Technology, communication services, and industrials led the decliners, while energy emerged as the top gainer.
Deutsche Bank said it expects Mexico's central bank to deliver a "hawkish cut" featuring a 25 basis point reduction of the policy rate to 7% on Thursday, along with a revamped forward guidance aimed at sending an unequivocal signal of a pause in the normalization process.
Morgan Stanley said it expects the European Central Bank to be on hold on Thursday. The focus will be on the updated projections and communication around it. Morgan Stanley sees a 5-to-4 vote for a 25bps rate cut to 3.75% at the Bank of England on Thursday, and unchanged messaging.
The drop in the United Kingdom consumer price index inflation, from 3.6% year over year in October to 3.2% year over year in November, was larger than any forecaster anticipated, said Berenberg after Wednesday's data. If not reversed, the decline in goods prices in November would put inflation on course to fall below the Bank of England's 2.0% target next summer, noted Berenberg.
Newfoundland and Labrador's budget deficit for fiscal year 2025-26 has been revised to $948 million, or 2.2% of nominal gross domestic product, which is larger than the $372 million deficit, or 0.9%of GDP, planned in Budget 2025 in the first fiscal update by the new Progressive Conservative government, said Scotiabank.
Federal Reserve Gov. Christopher Waller said monetary policy must remain insulated from political pressure, arguing that communication with the White House should be limited. Waller is slated to meet with President Trump Wednesday afternoon.
Greystone, a leading national commercial real estate finance company, has provided a $36,595,000 Freddie Mac loan to refinance a 476-unit garden-style multifamily community located in Houston, Texas. Originally developed in 1966, the property offers renovated apartments and townhomes with one-, two- and three-bedroom layouts.
Georgia's central bank Wednesday said its Monetary Policy Committee decided to keep the monetary policy rate -- refinancing rate-- unchanged at 8.0%. Under the central scenario, inflation is projected to average 4% this year, while from Q2 2026 it's expected to converge toward the target, averaging 3.5% on an annual basis, wrote NBG in its policy statement.
Equity Insider News Commentary ? Gold extended its historic 2025 rally to trade above $4,300 per ounce on December 16, marking the metal's strongest annual performance in decades with gains exceeding 60% year-to-date[1]. Central banks ramped up gold purchases by 28% in the third quarter alone, adding 634 tonnes year-to-date as emerging markets accelerate diversification away from dollar reserve...
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the ?Neutral? zone on Tuesday. U.S. stocks settled mixed on Monday, with the Dow Jones index falling more than 300 points during the session as mixed labor market data failed to ignite a fresh wave of risk-on sentiment.
The U.S. economy is expected to remain resilient in 2026 despite a moderation in growth, according to the 2026 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. Real equipment and software investment is projected to rise 6.2% in 2026, easing from 2025?s standout pace but still strong by historical standards.
US stocks look set to open higher in Wednesday's trading session as investors parse Tuesday's mixed jobs reports, and look ahead to the inflation reading for November on Thursday.
The Federal Open Market Committee should continue to lower its policy rate at a "moderate" pace due to expectations of further labor market weakness, Federal Reserve Governor Christopher Waller said Wednesday in an interview with CNBC.
The main US stock measures were tracking in the green in Wednesday's premarket activity as traders digest last month's jobs report, which showed the unemployment rate rose to a four-year high.
If there was any doubt about a rate cut at the Bank of England's Monetary Policy Committee meeting this week, then those doubts are surely gone now after Wednesday's consumer price index figures for November revealed a much weaker-than-expected set of data, said MUFG.
Hungary's central bank left rates unchanged at 6.50% on Tuesday, as expected, said ING. The new forecast brought a dovish shift, with inflation moving from 3.8% to 3.2% on average next year and, at the same time, worsening the economic outlook, wrote the bank in a note. However, the main surprise came from the press conference and the dovish tone of Governor Mihaly Varga, stated ING.
Major European bourses were advancing mid-session Wednesday as investors await the region's central bank decisions after the final policy meetings for the year. Wall Street futures were edging higher premarket, while Asian exchanges were mixed at Wednesday's close.
Alvotech (ALVO) said Wednesday that it has placed a $108 million offering of senior unsecured convertible bonds due 2030. The offering, which was oversubscribed, will be used to finance research and development, expected to be around $250 million in 2026, the company said. The bonds carry a coupon of 6.875% with an initial conversion price of $5.9224 per share, the company said.
Arguably, the most notable aspect of the United States jobs data on Tuesday was the two-tick upward lurch in the jobless rate to 4.6%, the highest since 2021, said Bank of Montreal. After dipping in June to 4.1%, the rate has risen steadily on average by one tick per month -- not a friendly trend, noted the bank.
Societe Generale in its early Wednesday economic news summary pointed out: -- US dollar off payrolls lows, oil rebounds 1.5% after President Trump ordered a blockade of sanctioned oil tankers going into and leaving Venezuela. -- Japan trade balance surprisingly swings to 322.2 billion yen surplus in November, exports accelerate to a nine-month high of 6.1% year over year.
Asian stock markets closed mixed Wednesday as traders digested the latest US jobs data and mulled potential Federal Reserve policy path ahead. On Tuesday, official US data showed that job growth in the world's largest economy rebounded in November after payrolls declined in October, while the unemployment rate shot up to the highest level in more than four years.
Mercantile Bank (MBWM) and Eastern Michigan Financial said late Tuesday the Federal Reserve Bank of Chicago has approved their proposed merger. The deal is expected to close Dec. 31, pending Eastern Michigan shareholder approval and other conditions, the companies said. MT Newswires does not provide investment advice.
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the ?Neutral? zone on Tuesday. U.S. stocks settled mixed on Monday, with the Dow Jones index falling more than 300 points during the session as mixed labor market data failed to ignite a fresh wave of risk-on sentiment.
The U.S. labor market showed further signs of cooling in November as nonfarm payrolls rose by 64,000, only modestly above expectations but still weak by historical standards, while the unemployment rate unexpectedly climbed to 4.6%, The Dow Jones Industrial Average fell 0.6% to 48,114.26, while the S&P 500 dropped 0.2% to 6,800.26. The Nasdaq rose 0.2% to 23,111.46. These are the top stocks tha...
The Dow Jones Industrial Average and the S&P 500 fell for a third straight session on Tuesday as traders reacted to fresh employment data that showed the unemployment rate hitting a four-year high. The Dow shed 0.6% to 48,114.3, while the S&P 500 dipped 0.2% to 6,800.3. The Nasdaq Composite rose 0.2% to 23,111.5, rebounding after a three-day decline.
Eos Energy Enterprises, Inc. (EOSE), an American energy company and the leading innovator in designing, sourcing, manufacturing, and providing zinc-based battery energy storage systems, today announced it will participate in the World Economic Forum Annual Meeting 2026 in Davos, Switzerland.
Inflation reports may drive markets in 2026 since the labor market is "sending mixed messages," said Kevin O'Neil, associate portfolio manager and senior research analyst at Brandywine Global.
Financial stocks were lower late Tuesday afternoon, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each shedding 0.5%. The Philadelphia Housing Index was falling 0.9%, and the State Street Real Estate Select Sector SPDR ETF was down 0.6%. Bitcoin was increasing 2.1% to $87,755, and the yield for 10-year US Treasuries fell 3.5 basis points to 4.15%. In econom...
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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