The U.S. Supreme Court's conservative justices appear ready to endorse President Donald Trump's power to fire a regulatory agency official despite job protections given by Congress.
The U.S. Supreme Court's conservative justices appear ready to endorse President Donald Trump's power to fire a regulatory agency official despite job protections given by Congress.
JPMorgan (JPM) top boss Jamie Dimon signaled support for former Federal Reserve Governor Kevin Warsh as the next chair of the U.S. central bank, the Financial Times reported on Friday. Earlier in the day, President Donald Trump said he was leaning toward either Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year.
JPMorgan (JPM) top boss Jamie Dimon signaled support for former Federal Reserve Governor Kevin Warsh as the next chair of the U.S. central bank, the Financial Times reported on Friday. Earlier in the day, President Donald Trump said he was leaning toward either Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year.
AM Best has downgraded the Financial Strength Rating to C++ from B- and the Long-Term Issuer Credit Rating to ?b+? from ?bb-? of Southern General Insurance Company. The ratings reflect SGIC?s balance sheet strength, which AM Best assesses as weak, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
Federal Reserve Bank of San Francisco President Mary Daly said on Friday in a LinkedIn posting that she favored cutting interest rates at this week's monetary policy meeting. "This week's decision was not an easy choice," Daly wrote, with the Fed facing conflicts between its job and inflation goals.
U.S. President Donald Trump said on Friday he has narrowed his search for a new Federal Reserve chair to two people and he should at least be consulted on decisions about interest rates, in what would be an unusual development. Trump said he is leaning toward either former Fed Governor Kevin Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year.
U.S. President Donald Trump said he is leaning toward former Fed governor Kevin Warsh or National Economic Council Director Kevin Hassett to lead the Federal Reserve next year, the Wall Street Journal reported on Friday citing an interview with Trump.
Financial stocks were mixed in late Friday afternoon trading, with the NYSE Financial Index shedding 0.3% and the State Street Financial Select Sector SPDR ETF rising 0.1%. The Philadelphia Housing Index was shedding 0.5%, and the State Street Real Estate Select Sector SPDR ETF was easing 0.1%. Bitcoin was falling 2.6% to $90,118, and the yield for 10-year US Treasuries rose 5 basis points to 4...
The U.S. dollar rose against major currencies on Friday after falling in recent sessions, but was still
on track for its third straight weekly drop amid the prospect of interest rate cuts by the ...
The Trump administration officially rolled out an Executive Order laying out federal policy on Artificial Intelligence which cements fears from states worried about the loss of broadband funding tied to the Bipartisan Infrastructure Law.
Latin American stocks rose on Friday, eyeing a positive finish to a week dominated by monetary policy decisions, including a U.S. Federal Reserve interest rate cut, while investors braced for ...
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of B and the Long-Term Issuer Credit Rating of ?bb? of National Security Insurance Company.
* Yields climb after two-day decline. * Fed dissenters express concerns over inflation. * 10-year yield poised for second straight weekly gain. By Chuck Mikolajczak. U.S. 10-year Treasury yields climbed on Friday after two straight sessions of declines, as investors weighed commentary from a host of Federal Reserve officials and the outlook for the economy.
Chicago Fed President Austan Goolsbee and his Kansas City counterpart, Jeffrey Schmid, said Friday that they dissented from a majority on the Federal Open Market Committee this week due to inflation risks. Goolsbee and Schmid voted in favor of leaving interest rates steady earlier this week, when the FOMC eased its monetary policy for the third straight meeting.
Global X Management Company launched the Global X Gold Miners ETF (AUAU) on Wednesday, offering an additional investment choice within gold and silver mining stocks as gold prices soar. The news comes at a time when gold prices have been trending near historical highs due to geopolitical tensions, uncertain global economic forecasts, and shifts in central bank policy.
Chicago Fed President Austan Goolsbee said that he dissented at the December meeting in favor of no rate change because he was uncomfortable front loading too many rate cuts and urged patience to assure that inflation is back on a path to 2%. Goolsbee said that the unemployment rate has been fairly stable and that there is low risk that the job market will fall apart overnight, while at the sam...
US benchmark equity indexes were lower intraday as the technology sector tumbled amid a post-earnings selloff in Broadcom (AVGO), while markets parsed remarks by Federal Reserve officials.
Financial stocks were falling in Friday afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF shedding 0.1%. The Philadelphia Housing Index was down 0.5%, and the State Street Real Estate Select Sector SPDR ETF was easing 0.2%. Bitcoin was falling 2.3% to $90,433, and the yield for 10-year US Treasuries rose 5 basis points to 4...
A review Moody's launched in September ended with rating downgrades and negative outlooks for the city's outstanding general obligation and revenue bonds.
Financial stocks were mixed in Friday afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF increasing 0.2%. The Philadelphia Housing Index was down 0.5%, and the State Street Real Estate Select Sector SPDR ETF was easing 0.2%. Bitcoin was falling 2.3% to $90,433, and the yield for 10-year US Treasuries rose 5 basis points to 4...
RH shares rose Friday even after the luxury retailer missed Q3 earnings estimates and cut full-year guidance. RH reported earnings of $1.71 per share, missing the $2.16 analyst estimate by 20.87%. Following the print, Telsey Advisory Group analyst Cristina Fern?ndez reiterated a Market Perform rating but lowered her price target from $220 to $185.
An unusual three-way division within the Federal Reserve system has brought several corners of the ETF universe into focus as market participants reassess which corners might be more impacted by changes in respective GDP and interest rate forecasts.
* Wall Street stocks down sharply with tech shares. * Investors brace for BoE, ECB, BOJ next week. * German bond yields rise, US yields up as well. By Caroline Valetkevitch. Major stock indexes were down sharply on Friday, with technology-related shares falling again as investors were wary of artificial intelligence bets, while the dollar and U.S. Treasury yields edged higher after recent losses.
* EU wants to use frozen Russian assets for loan to Ukraine. * Russian central bank says such a move would be illegal. * EU agrees to freeze Russian assets indefinitely. By Jan Strupczewski. BRUSSELS, Dec 12 - The European Union agreed on Friday to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Russia.
European Union governments signed off on Friday on an agreement to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Moscow's invasion.
* FTSE 100 down 0.6%; FTMC up 0.1% * Weak British GDP data fuels rate-cut bets. London's FTSE 100 fell on Friday, as a sell-off on Wall Street fuelled by AI angst spoiled the mood across European markets. The blue-chip FTSE 100 dipped 0.6%, retreating from gains of as much as 0.6%. The mid-cap FTSE 250 index edged up 0.1%, also pulling back from early highs.
Belgium, Bulgaria, Italy and Malta said in a joint statement on Friday they had voted in favour of the European Union's plans to indefinitely freeze Russian central bank assets held in Europe.
Peru's economy could have expanded by around 4% in October, the chief economist of the Andean country's central bank Adrian Armas said on Friday, noting that the economy is "performing well." Armas highlighted the importance of tight fiscal policies in a call with journalists, which came after the central bank held its benchmark interest rate at 4.25% for the third straight meeting.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of the life/health insurance subsidiaries of Manulife Financial Corporation (MFC) [NYSE: MFC]. Concurrently, AM Best has affirmed the Long-Term ICR of ?a-? and the Long-Term Issue Credit Ratings of MFC.
European stock markets closed lower in Friday trading as the Stoxx Europe declined 0.53%, Germany's DAX dropped 0.45%, the FTSE 100 fell 0.56%, France's CAC lost 0.21%, and the Swiss Market Index was down 0.14%. In Germany, monthly inflation declined 0.2% in November, compared with October, according to the Federal Statistical Office, and matched analyst forecasts, according to Bloomberg.
Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
AM Best has downgraded the Financial Strength Rating to B++ from A- and the Long-Term Issuer Credit Rating to ?bbb+? from ?a-? of EMC National Life Company. The ratings reflect EMCNL?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of the core Blue Cross Blue Shield-branded insurance subsidiaries of Elevance Health, Inc. (ELV) [NYSE: ELV], as well as most of its non-Blue-branded subsidiaries.
* Silver hit record high at $64.64/oz. * Platinum climbs to 14-year peak. * Non-farm payrolls data due on December 16. By Sarah Qureshi. Silver hit a record high on Friday as gold prices rose more than 1% to hover at a seven-week peak, spurred by a softer dollar and this week's Federal Reserve interest rate cut.
The U.S. dollar
drifted higher against major currencies on Friday after falling
in recent sessions, but was still set for its third straight
weekly drop amid the prospect of interest rate cuts by ...
Canada's benchmark stock index hit a fresh intraday peak on Friday, with cannabis and mining shares leading gains, ending a week filled with central bank meetings. The TSX index was up 0.2% at 31,731.35 points by 09:38 a.m. ET, and set for a weekly gain. "Global stocks are trading at record highs despite ongoing technology valuation doubts," said Bob Savage, head of markets macro strategy at BNY.
* Yields climb after two-day decline. * Fed dissenters express concerns over inflation. * 10-year yield poised for second straight weekly gain. By Chuck Mikolajczak. U.S. 10-year Treasury yields rose on Friday after two straight sessions of declines, as investors assessed commentary from a flurry of Fed speakers and a positive outlook on the economy.
Federal Reserve Bank of Cleveland President Beth Hammack said Friday that given her own take on the economy she would prefer monetary policy to be tighter than it is currently. The Fed's rate cut this week along with past easings this year has interest rate policy "right around a neutral" level, Hammack said at an event in Cincinnati.
AM Best has affirmed the Financial Strength Rating of A+, the Long-Term Issuer Credit Rating of ?aa-? and the Mexico National Scale Rating of ?aaa.MX? of HDI Global Seguros, S.A.. The outlook of these Credit Ratings is stable.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa? of Hannover R?ck SE and its main subsidiaries. The ratings reflect Hannover Re?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, very favourable business profile and very strong enterprise risk management.
The European Commission is open to include guarantees that Belgium wants in the plan to use immobilised Russian central bank assets for a loan to Ukraine, European Economic Commissioner Valdis Dombrovskis said on Friday.
Chicago Fed President Austan Goolsbee said Friday in an exclusive interview with CNBC that he dissented at the Federal Open Market Committee meeting this week in favor of no rate change because he is "uncomfortable" front loading too many rate cuts and urged patience to assure that inflation is back on a path to 2%. Goolsbee said that the unemployment rate has been fairly stable and that there ...
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of ?aa-? of HDI Haftpflichtverband der Deutschen Industrie V.a.G. and its rated insurance subsidiaries.
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