The European stock markets closed mixed Friday as the Stoxx Europe declined 0.2%, Germany's DAX was down 0.6%, the FTSE 100 gained 0.2%, France's CAC was off 0.3%, and the Swiss Market Index increased 0.3%. Seasonally adjusted GDP declined by 0.2% in the euro area and by 0.1% in the EU in Q1, compared with the previous quarter, according to estimates from Eurostat, the statistical office of the...
The US economy added more jobs than projected in May, while economists said upward revisions to payrolls growth in the two prior months indicated momentum in hiring activity. Total nonfarm payrolls rose by 172,000 last month, the Bureau of Labor Statistics said Friday, nearly double the 88,000 increase expected in a Bloomberg-compiled survey.
Major tech employment metrics show positive results in May DOWNERS GROVE, Ill. 1 An estimated 5.9 million people work in tech occupations across the country. The unemployment rate for tech occupations is 3.1%, a drop from April's 3.5% rate.
* Index on track to slip after two weeks of gains. * Canadian job growth beats expectations. By Tharuniyaa Lakshmi. Canada's main stock index fell more than 1% on Friday, tracking losses on Wall Street, as stronger-than-expected U.S. and domestic payrolls data fueled expectations of a tighter monetary policy.
* US economy added 172,000 jobs last month. * Gold headed for weekly drop. * Markets see 68% chance of rate hike in December. * Silver, platinum, palladium headed for weekly declines. By Anjana Anil.
The U.S. economy posted a third straight month of strong job gains in May, confirming the labor market was gaining traction after stumbling last year and giving the Federal Reserve more room to keep interest rates unchanged amid rising inflation due to the war in the Middle East. The closely watched employment report from the Labor Department on Friday painted an upbeat picture of the jobs market.
A blowout May jobs report is likely to further ease concerns among U.S. Federal Reserve officials about weakness in the labor market and focus attention on inflation risks, leaving incoming Chairman Kevin Warsh to manage growing support among his colleagues for possible rate hikes.
Canadian economic activity expanded at a faster pace in May and inflation pressures heated up, Ivey Purchasing Managers Index data showed on Friday. The seasonally adjusted index rose to 58.2 from 57.7 in April, marking the highest level since September. The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.
* Indexes down: Dow 0.25%, S&P 0.85%, Nasdaq 1.39% * Semiconductors slide after strong rally. * U.S. jobs increase more than expected in May. * S&P Global to not change index entry eligibility for megacap IPOs. By Medha Singh and Twesha Dikshit.
The 2026 FIFA World Cup will inject billions of dollars into host economies, driven by a massive consumption surge that will benefit sectors as varied as tourism to retail and athletic wear, according to analysts. The iconic tournament, scheduled for June 11 to July 19 and set to be the largest soccer event ever, could power consumer spending at a time when broader demand remains fragile.
The 2026 FIFA World Cup will inject billions of dollars into host economies, driven by a massive consumption surge that will benefit sectors as varied as tourism to retail and athletic wear, according to analysts. The iconic tournament, scheduled for June 11 to July 19 and set to be the largest soccer event ever, could power consumer spending at a time when broader demand remains fragile.
* May jobs report shows 172,000 jobs added, double expectations, jobless rate steady at 4.3% * Analysts say strong labor data increases likelihood of Fed rate hike by December. * 2-year Treasury yield hits 15-month high, yield curve flattens to narrowest since March. By Karen Brettell.
* US economy added 172,000 jobs last month. * Gold headed for weekly drop. * Markets see 68% chance of rate hike in December. * Silver, platinum, palladium headed for weekly declines. By Anjana Anil.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.5%, and the actively traded Invesco QQQ Trust retreated by 1.3% in Friday's premarket activity, after the May jobs report. US stock futures were mixed, with S&P 500 Index futures down 0.5%, Dow Jones Industrial Average futures gaining 0.1%, and Nasdaq futures retreating 1% before the start of regular trading.
The Canadian labor market sparked back to life in May, with the 88,000 gain in jobs well above consensus expectations and taking the unemployment rate back down to 6.6%, said CIBC after Friday's Labour Force Survey.
U.S. interest rate futures on Friday increased the chances that the Federal Reserve will raise interest rates by the December policy meeting after a blockbuster payrolls number for May, which sharply exceeded market expectations. The rate futures market has now priced in a 68.4% chance of Fed tightening in December, compared with 52% late on Thursday, according to CME's FedWatch.
U.S. interest rate futures on Friday increased the chances that the Federal Reserves will raise interest rates by the December policy meeting after a blockbuster payrolls number for May, which sharply exceeded market expectations. The rate futures market has now priced in a 65% chance of Fed tightening in December, compared with just 48% before the jobs report, according to LSEG estimates.
The May employment report showed nonfarm payrolls rose by 172,000, well above the 88,000 jobs increase expected in a survey compiled by Bloomberg as of 7:30 am ET, while April payrolls were revised upwards to a 179,000 increase and March payrolls were revised upwards to a 214,000 increase, for a net upward revision of 93,000 jobs.
Canada's employment increased by 88,000, or 0.4% month over month, in May and the unemployment rate fell 0.3 percentage point to 6.6%, said the country's statistical agency on Friday. The job gains and unemployment rate were better than the consensus gain of 10,100 and a consensus jobless rate of 6.9% provided by MUFG.
Several Chinese banks have raised dollar deposit rates in recent weeks, sources said, in a move some traders say is likely aimed at slowing the pace of yuan appreciation. At least five commercial banks, ranging from state-owned lenders to smaller joint-stock banks, have lifted the dollar deposit rates they offered to their clients, according to the sources with knowledge of the matter.
U.S. stock index futures extended declines on Friday after a stronger-than-expected jobs report further fueled expectations for the Federal Reserve to hike interest rates this year. A Labor Department report showed the U.S. economy added 172,000 jobs last month, compared with economists' estimates for a rise of 85,000.
The U.S. economy posted a third straight month of strong job gains in May, confirming the labor market was gaining traction after stumbling last year and giving the Federal Reserve more room to keep interest rates unchanged amid rising inflation due to the war in the Middle East. The closely watched employment report from the Labor Department on Friday painted an upbeat picture of the jobs market.
U.S. stock index futures extended declines on Friday after a stronger-than-expected jobs report further fueled expectations for the Federal Reserve to hike interest rates this year. A Labor Department report showed the U.S. economy added 172,000 jobs last month, compared with economists' estimates for a rise of 85,000.
Canadian inflation readings for April have come in below market expectations, while the USMCA trade deal negotiations deadline of July 1 is approaching fast, said UBS. This follows a period of generally weaker economic data from Canada, as evidenced by a sharp decline in economic surprise indexes, writes the bank in a note to clients.
* Job growth offsets almost all losses since start of 2026. * Unemployment rate falls to its lowest level since January. * Job gains concentrated entirely in full-time employment, StatsCan said. * Youth unemployment declined 0.9 percentage points to 13.4% By Promit Mukherjee.
Nomura said it expects the Bank of Canada to keep rates unchanged, including the policy interest rate at 2.25%, at next week's policy meeting. Canada's central bank is slated to release its policy statement at 9:45 a.m. ET on Wednesday. Data released since the April meeting has been dovish, noted Nomura.
The US dollar fell against its major trading partners early Friday ahead of the release of May employment data at 8:30 am ET. Nonfarm payrolls are expected to rise by 88,000 in May after a 115,000 increase in the previous month, while the unemployment rate is forecast to remain at 4.3%, and hourly earnings are forecast to rise by 0.3% after a 0.2% gain.
* Businessmen say authorities pushed economy into stagnation. * Uralchem owner likens central bank to hostile Western countries. * Sberbank CEO says some growth 'already a miracle' By Gleb Bryanski.
The benchmark US stock measures were mostly tracking in the red before the open Friday as traders await a key employment report for May. The S&P 500 decreased 0.5% and the Nasdaq was off 1% in premarket activity, while the Dow Jones Industrial Average edged up 0.1%. The indexes finished the previous trading session mostly up, with the Dow recording a fresh closing high.
Copper prices fell to a one-week low on Friday, pressured by a rising dollar and growing inflation fears, after a stronger-than-expected U.S. jobs report fueled bets of a rate hike by the U.S. Federal Reserve. Copper, used in power and construction, is up 9% so far this year, having hit a record high of $14,527.5 in January.
Canada releases May's Labour Force Survey at 8:30 a.m. ET on Friday, at the same time as the United States jobs report, said ING. The narrative in Canada has been "less constructive" than in the U.S., writes the bank in a note. Consensus is looking at stabilization on Friday: 6.9% and 10,000 job gains.
The blowout U.S. job report released on Friday is likely to further ease concerns among Federal Reserve officials about labor market weakness and focus their attention on inflation risks, leaving new Fed Chairman Kevin Warsh to manage growing support among his colleagues and rising expectations among investors for possible interest rate hikes.
* IPO for Elon Musk's SpaceX expected on June 12. * CPI data on Wednesday to show latest inflation trends. * Oracle, Adobe results come as tech leads market higher. By Lewis Krauskopf. The long-awaited, massive SpaceX initial public offering is expected next week, a major event for the U.S. stock market, with investors wary of possible overexuberance after a stunning rally.
* Futures: Dow up 0.22%, S&P down 0.34%, Nasdaq down 0.82% U.S. stock index futures fell on Friday, as chipmakers lost steam following a strong rally and investors stayed cautious ahead of the May employment report, which could shape expectations for the Federal Reserve's policy path. Semiconductors led the declines.
Societe Generale in its early Friday economic news summary pointed out: -- Brent steady around US$95/barrel into nonfarm payrolls, United States/Iran peace talks stall after Hezbollah rejected U.S.-brokered truce in Lebanon. -- India: Reserve Bank of India leaves key rate unchanged at 5.25%, vote unanimous, stance neutral.
Greece's jobless rate rose to 10.6% in the first quarter from 8.3% in the fourth quarter of 2025, data by the country's statistics service ELSTAT showed on Friday. The jobless rate for women was 13.9% versus 7.9% for men in the first quarter. About 49.0% of Greece's 508,401 jobless are long-term unemployed, meaning they have been out of work for at least 12 months, the figures showed.
The public listing of SpaceX will take centre stage as it looks likely to become one of the top 10 most valuable U.S. listed firms after it goes public, while a rate hike from the European Central Bank on Thursday seems nailed on. Elsewhere, China releases a bunch of data and the OPEC+ group meets to decide its oil output quotas against the backdrop of the Iran war.
The public listing of SpaceX will take centre stage as it looks likely to become one of the top 10 most valuable U.S. listed firms after it goes public, while a rate hike from the European Central Bank on Thursday seems nailed on. Elsewhere, China releases a bunch of data and the OPEC+ group meets to decide its oil output quotas against the backdrop of the Iran war.
* Unemployment rate likely remained at 4.3% for third straight month. * Employment report likely to show labor market remains in a "slow-hire, slow-fire" state. By Lucia Mutikani. U.S. employment growth likely moderated in May after two straight months of strong gains, but the pace would probably remain consistent with stable labor market conditions.
Japanese government bonds held steady on Friday, while short-term yields were poised for a weekly advance as market bets solidified around policy tightening by the central bank. Here are a few details: * The benchmark 10-year JGB yield fell 1 basis point to 2.660%. Yields move inversely to bond prices.
Shares dipped on Friday after a blowout jobs report fueled bets of a rate hike by the U.S. Federal Reserve and as investors turned defensive ahead of the weekend, wary of the flare-up in Middle East hostilities. Iran reaffirmed support for the Hezbollah militia and demanded Israel withdraw from southern Lebanon, complicating efforts to end the broader conflict between the U.S. and Iran.
Gold prices edged lower on Friday,
and were set for a weekly loss, as tensions in the Middle East
dampened hopes for a U.S.-Iran peace deal amid rising inflation
and rate-hike fears.
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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