* Trump picks Kevin Warsh as new Fed Chair. * Global stocks fall, still set for weekly gain. * US inflation data hotter than expected. By Chuck Mikolajczak.
* Producer price index increases 0.5% in December. * Services account for bigger-than-expected rise in PPI. By Lucia Mutikani. U.S. producer prices increased by the most in five months in December amid some pass-through from import tariffs, suggesting inflation could pick up in the months ahead and allow the Federal Reserve to keep interest rates steady for a while.
* Warsh seen as likely to support lower rates, easing concerns. * Dollar gains after U.S. producer prices rise more than expected. * Bitcoin lowest since November 21. By Karen Brettell.
"These municipal bond schemes improperly divert new issue bonds to bad actors at the expense of bona fide retail investors," FINRA's Meghan Ferguson said.
Construction input prices decreased 0.6% in December compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics? Producer Price Index data released today. Overall construction input prices are 2.8% higher than a year ago, while nonresidential construction input prices are 3.2% higher.
* Indexes down: Dow 0.2%, S&P 500 0.2%, Nasdaq 0.3% * Russell 2000 down 0.3% * Apple (AAPL) shares fall after quarterly results. * Gold and silver miners fall tracking metal prices. By Pranav Kashyap and Twesha Dikshit.
U.S. stocks opened lower on Friday after President ?Donald Trump nominated ?former Federal Reserve ?Governor Kevin Warsh ?to ?head the U.S. ?central bank, ?as traders mulled over the ?monetary ?policy ?path under the new Fed leadership.
The current stance of monetary policy is still restraining economic growth and requires more reduction in the policy rate, Federal Reserve Governor Christopher Waller said Friday in a statement explaining his dissent in favor of a 25-basis point rate cut at this week's Federal Open Market Committee meeting.
Canada's main stock index opened sharply lower ?on Friday, ?dragged down ?by commodity-linked shares, ?as ?gold sank after ?U.S. ?President Donald Trump nominated Kevin ?Warsh ?as ?the next Federal Reserve chair and ?oil retreated on easing supply disruption concerns ?in ?Iran.
U.S. stocks opened lower on Friday after President ?Donald Trump nominated ?former Federal Reserve Governor ?Kevin Warsh ?to ?head the U.S. ?central bank, ?as traders mulled over the ?monetary policy ?path ?under the new Fed leadership.
AM Best has affirmed the Financial Strength Rating of C++ and the Long-Term Issuer Credit Rating of ?b+? of Ghana Reinsurance PLC. The ratings reflect Ghana Re?s balance sheet strength, which AM Best assesses as strong, as well as the company?s adequate operating performance, limited business profile and weak enterprise risk management.
* Futures down: Dow 0.55%, S&P 500 0.55%, Nasdaq 0.74% * Futures tracking Russell 2000 down 0.6% * Apple (AAPL) shares marginally down after quarterly results. * Gold and silver miners fall tracking metal prices. By Pranav Kashyap and Twesha Dikshit.
US stocks look set to open lower in Friday's trading session as investors seem calmed by President Donald Trump's nomination of former Fed Governor Kevin Warsh to replace Fed Chairman Jerome Powell when his term expires in May. Investors are also parsing the Bureau of Labor Statistics' Producer Price Index reading, which rose 0.5% in December, up from a 0.2% gain the previous month, and above a...
The broad market exchange-traded fund SPDR S&P 500 ETF Trust was down 0.4% and the actively traded Invesco QQQ Trust was 0.6% lower in Friday's premarket activity as geopolitical uncertainty looms, while investors still await a Federal Reserve interest rate cut.
The incoming Dutch government plans to add a surcharge to income and corporate taxes to generate around 5 billion euros per year for increased defence spending, coalition ?parties said on Friday. To meet a target set by NATO countries last year, the government ?aims to increase defence spending to 2.8% of gross domestic product ?by 2030 and to 3.5% by 2035, compared ?with around 2% ?now.
Brazil's unemployment rate dropped to a record low ?in the three months through December, official ?data showed on Friday, despite borrowing ?costs at a near ?20-year high. * The ?jobless rate hit 5.1% in the ?October-December period, statistics agency ?IBGE said on Friday, matching expectations from economists in a ?Reuters poll.
The Canadian economy was still struggling for growth toward the end of Q4, with November gross domestic product showing a flat reading and the advance estimate for December pointing to only marginal growth, said CIBC after Friday's data.
U.S. producer prices increased by the most in five months in December amid some pass-through from import tariffs, suggesting inflation could pick up in the months ahead and allow the Federal Reserve to keep interest rates steady for a while.
U.S. producer prices increased more than expected in December, with businesses appearing to pass on higher costs from import tariffs, suggesting inflation could pick up in the months ahead. The Producer ?Price Index for final demand surged 0.5% last month after an unrevised 0.2% ?gain in November, the Labor Department's Bureau of Labor Statistics ?said on Friday.
Canadian real gross domestic product was essentially unchanged in November, following a 0.3% month over month decline in October, as contractions in goods-producing industries offset expansions in services-producing industries, said the country's statistical agency on Friday. November's flat reading was slightly less than the 0.1% consensus month-over-month rise provided by MUFG.
U.S. Treasury yields rose on Friday after ?data showed producer ?prices in the ?world's largest economy ?came ?in hotter than expected ?in ?December, suggesting the Federal Reserve will ?be in ?no ?rush to cut interest rates over the ?next several months.
The US Producer Price Index rose by 0.5% in December following a 0.2% increase in November, well above the 0.2% gain expected in a survey compiled by Bloomberg. Energy prices fell by 1.4% in the month, while food prices declined by 0.3%. After excluding food and energy prices, core PPI jumped by 0.7%, above the 0.2% gain expected and following a flat reading in the previous month.
The US dollar rose against its major trading partners early Friday ahead of the release of producer price data for December at 8:30 am ET and the Chicago purchasing managers' index reading for January at 9:45 am ET.
* Contraction in goods-producing sectors behind flat growth. * Manufacturing output shrank by 1.3%, followed by agriculture. * Services-producing sectors helped offset some of the weakness. * Q4 GDP could shrink by 0.5% annualized, 2025 GDP seen at 1.3% By Promit Mukherjee.
The Indian Economic Survey 2025-26 has outlined a stark warning regarding a potential global financial ?systemic shock cascade? in 2026 that could outpace the severity of the 2008 Global Financial Crisis.
Senate Banking Chairman Tim Scott on ?Friday said ?he looked forward ?to a "thoughtful, timely ?confirmation ?process" for Kevin ?Warsh, President ?Donald Trump's pick to lead ?the ?U.S. ?Federal Reserve.
Gold, silver and copper prices tumbled on Friday after hitting record highs this week, as jittery investors moved to lock in profits with hopes for aggressive U.S. interest rate cuts starting to fade and the dollar steadying. President Donald Trump on Friday ?said he had chosen former Federal Reserve Governor Kevin Warsh to head the U.S. Federal Reserve.
Long-dated U.S. Treasury prices fell on Friday after President Donald Trump said he would nominate former Federal Reserve Governor Kevin Warsh to head the U.S. central bank. Warsh has called for regime change at the Fed, seeking among other things a smaller balance sheet, ?meaning he could push to reduce the amount of bonds the bank owns.
* Five traders turned to CCRC after Tom Hayes exoneration. * 'No distinguishing' differences between cases, CCRC says. * Lawyer calls on Court of Appeal to decide case quickly. By Kirstin Ridley.
US stock futures are tracking lower in Friday's premarket session, but rebounding from earlier levels as investors appear assuaged by President Donald Trump's nomination of former Fed Governor Kevin Warsh to replace Fed Chairman Jerome Powell when his term expires in May. Investors are also looking ahead to the Producer Price Index reading, which will be released at 8:30 am ET.
President Trump on Friday announced Kevin Warsh as his nominee to succeed Jerome Powell as Chair of the Federal Reserve, yet Bitcoin plunged below $83,000 on the news. Technical analyst Kyledoops said a Warsh-led Fed would fundamentally change how markets interpret policy signals, given his reputation as an inflation hawk and strong-dollar advocate.
* Debt as a percentage of GDP is less than forecast. * Brazil's debt ratio is higher than that of many peers. * Debt has risen since end-2022, mostly because of interest payments. By Marcela Ayres.
* Trump picks Kevin Warsh as new Fed Chair. * Global stocks edge higher, S&P 500 futures pull back. * Precious metals plunge, losses deepen after flash crash. By Sophie Kiderlin. Global stocks edged higher on Friday, while the dollar rose and gold plunged after U.S. President Donald Trump. nominated. Kevin Warsh as his pick for the next. Federal Reserve. Chair.
Canada will release the monthly gross domestic product data at 8:30 a.m. ET on Friay, said Bank of Montreal. The bank noted that the Canadian economy has struggled to gain momentum in recent months as the support from past rate cuts is offset by still-significant trade uncertainty.
By Alun John. The dollar held higher on the day on Friday after U.S. President Donald Trump said he had appointed former governor Kevin Warsh as chair of the U.S. Federal Reserve. The move will give a frequent Fed critic a chance to put his idea of monetary policy "regime change" into practice at a moment when the president has pushed for more control over the central bank.
Democratic U.S. ?Senator Elizabeth ?Warren on ?Friday ?said ?President Donald ?Trump's ?choice to nominate Kevin ?Warsh ?to ?head the Federal ?Reserve represents the president's latest ?step ?to seize ?control of the institution.
* Futures down: Dow 0.3%, S&P 500 0.3%, Nasdaq0.5% * Futures tracking Russell 2000 down 0.6% * Apple (AAPL) shares marginally down after quarterly results. * Gold and silver miners fall tracking metal prices. By Pranav Kashyap and Twesha Dikshit.
U.S. President Donald Trump on Friday said he had picked former Federal Reserve governor Kevin Warsh as the next head of the Federal Reserve, when Chair Jerome Powell steps down in May. The nomination caps a months-long process that often resembled a public audition as Warsh, White House economic advisor Kevin Hassett and other top contenders - including sitting Fed governor Christopher Waller ...
The dollar gave back some of its earlier gains on Friday but remained higher on the day after ?U.S. President Donald Trump said he had appointed former governor ?Kevin Warsh as chair of the U.S. Federal Reserve. The ?euro was last down 0.2% ?at $1.1947, sterling ?was off 0.3% at $1.378, while the dollar climbed 0.5% against the Japanese ?yen to 153.8 yen.
* Republican senator's opposition points to tough Senate confirmation fight. * Nomination of Warsh follows months of public auditions. * Warsh has advocated for steep rate cuts, Fed 'regime change' By Ann Saphir and Steve Holland.
U.S. stock index futures cut some losses on Friday, after U.S. President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair. "I am nominating Kevin Warsh ?to be chairman of board of governors of Federal Reserve system," ?Trump said, announcing his latest move to put his ?stamp on a Fed that he ?has lambasted for ?not lowering interest rates.
U.S. stock index futures cut some losses on Friday, after U.S. President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair. "I am nominating Kevin Warsh ?to be chairman of board of governors of Federal Reserve system," ?Trump said, announcing his latest move to put his ?stamp on a Fed that ?he has lambasted ?for not lowering interest rates.
European bourses tracked moderately higher midday Friday as traders nodded to earnings, and shrugged off geopolitical conflicts and the outlook for a new US central bank chief. President Donald Trump is expected to nominate former Federal Reserve governor Kevin Warsh as the central bank's next chair, Friday morning in Washington.
President Donald Trump on Friday chose former Federal Reserve Governor Kevin Warsh to head the U.S. central bank when Jerome Powell's leadership term ends in May, giving a frequent Fed critic a chance to put his idea of monetary policy "regime change" into practice just as the White House pushes for more control over the setting of interest rates.
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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