* US economy added 172,000 jobs last month. * Gold headed for weekly drop. * Markets see 72% chance of rate hike in December. * Silver, platinum, palladium headed for weekly declines. By Anjana Anil.
U.S. President Donald Trump said on Friday that he would like to see lower interest rates and will leave the decision on a possible rate cut to Federal Reserve Chair Kevin Warsh during the October meeting.
India has reappointed Swaminathan Janakiraman as its central bank deputy governor for a further period of two years, a Reserve Bank of India statement said on Friday. The reappointment will be with effect from June 26, the statement said.
* 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.
* 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.
Otter Tail Corp (OTTR): * OTTER TAIL - OTP ISSUES SERIES 2026B SENIOR UNSECURED NOTES FOR $70 MILLION ON JUNE 4, 2026 - SEC FILING. * OTTER TAIL - OTP AGREES TO ISSUE $100 MILLION OF 5.33% SERIES 2026A NOTES DUE MARCH 19, 2036 - SEC FILING Source text: Further company coverage:
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.
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.
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. Treasury yields jumped on Friday after data showed that employers added more jobs than economists expected in May. Employers added 172,000 jobs during the month, far above the expected 85,000 in jobs gains.
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 job 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.
* 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.
* 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.
Nokia Oyj (NOK): * ISSUES EUR 500 MILLION SENIOR UNSECURED NOTES AND APPLIES FOR NOTES TO BE LISTED ON EURONEXT DUBLIN. * NOTES WILL MATURE ON 5 JUNE 2032, AND CARRY A FIXED ANNUAL COUPON OF 3.625% * NOTES TO BE LISTED ON REGULATED MARKET OF EURONEXT DUBLIN.
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 fuelled bets of a rate hike by the U.S. Federal Reserve.
Wall Street's main indexes fell on Friday as stronger-than-expected jobs data pushed Treasury yields higher and reinforced hawkish policy bets, while chipmakers slid after a recent rally. Nonfarm payrolls rose by 172,000 jobs in May after 115,000 additions in April.
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.
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.
Japan's real wages climbed 1.9% in April from a year earlier, government data showed on Friday, marking a fourth consecutive monthly gain, as higher special payments boosted overall earnings and improved household purchasing power.
Japan's real wages climbed 1.9% in April from a year earlier, government data showed on Friday, marking a fourth consecutive monthly gain, as higher special payments boosted overall earnings and improved household purchasing power.
Australian home prices are set for their weakest growth since 2022 this year, as higher mortgage rates and cost-of-living pressures keep many first-time buyers out of the market, a Reuters poll of property analysts showed.
* Jobless claims rise above forecasts. * Oil prices fall on hopes for US-Iran deal. * Fed officials signal inflation as priority. By Chuck Mikolajczak. U.S. Treasury yields fell on Thursday after labor market data was softer than expected, while oil prices retreated on renewed hopes that a deal to end the U.S.-Israeli war with Iran could be reached.
Kansas City Federal Reserve President Jeffrey Schmid said on Thursday that the U.S. central bank's choice now is between being patient and holding interest rates steady or hiking rates to tamp down inflation that has been above target for years. "The big question now is do we stay patient?"
Kansas City Fed president Jeffrey Schmid said Thursday that the U.S. central bank's choice now is between being patient and holding interest rates steady or rate hikes to tamp down inflation that has been years above target. "The big question now is do we stay patient?"
San Francisco Federal Reserve President Mary Daly on Thursday said that while she believes AI over a five- to 10-year window could be a deflationary force, the effect is "not a pressing issue" for monetary policy which operates on a 12-month horizon.
* Boston Fed paper says changes in US energy use bear on Fed policy response. * Boston Fed researchers say Fed can concentrate on inflation issues amid current shock. * Some Fed officials weighing need for rate hikes to combat high inflation. By Michael S. Derby.
Canada unveiled a new artificial intelligence strategy on Thursday that it says will help create 250,000 jobs by 2031 and includes a new C$500 million tech fund to help homegrown AI firms.
Global supply chains remained under pressure in May as a result of the war in the Middle East, data from the New York Federal Reserve showed on Thursday, suggesting inflation pressures will remain formidable for the foreseeable future. The regional Fed bank's latest Global Supply Chain Pressure Index ebbed modestly to 1.77 from an unrevised 1.82 in April.
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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