US equity indexes rose on Friday as technology topped sector charts in a broad-based rally, aided by a revival of risk-on sentiment for the so-called artificial intelligence trade.
US equity indexes closed higher Friday as tech stocks paced the rally. * US existing home sales edged up 0.5% in November to a seasonally adjusted annual rate of 4.13 million, slightly below expectations for a 4.15 million pace, according to data from the National Association of Realtors.
Existing home sales rose to a 4.13 million seasonally adjusted annual rate in November from a 4.11 million rate in October but were still down 1% from the 4.17 million rate in November 2024. Two of the four US regions posted month-over-month sales gains in November, with a decline in one region and one unchanged reading.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each adding about 0.8%. The Philadelphia Housing Index was shedding 0.9%, and the State Street Real Estate Select Sector SPDR ETF was up 0.3%. Bitcoin was rising 2% to $87,200, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%....
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each adding 0.8%. The Philadelphia Housing Index was shedding 0.9%, and the State Street Real Estate Select Sector SPDR ETF was up 0.3%. Bitcoin was rising 2% to $87,200, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%. In co...
After an upside surprise in Q3 GDP tied to an export recovery, CIBC's Avery Shenfeld on Friday said Q4 looks to be off to a "weak start", with October GDP on Tuesday expected to post a decline.
US consumer sentiment improved after a four-month downturn, while inflation expectations hit 11-month lows, final University of Michigan survey results showed Friday. The main sentiment index rose to 52.9 this month from 51 in November.
Existing home sales in the US rose for a third consecutive month in November amid lower mortgage rates, data from the National Association of Realtors showed Friday. Sales increased 0.5% sequentially to a seasonally adjusted annual rate of 4.13 million units last month.
The University of Michigan consumer sentiment index was revised down Friday to a reading of 52.9 for December from the 53.3 reading in the preliminary estimate, compared with expectations for an upward revision to 53.5 in a survey compiled by Bloomberg. That was still above the final reading of 51.0 in November.
The pace of US existing home sales rose 0.5% to a 4.13 million seasonally adjusted annual rate in November from 4.11 million in October, compared with a larger expected increase to a 4.15 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors released Friday showed.
US stocks look set to open little changed Friday's trading session as investors look ahead to economic data set for release later in the morning, including existing home sales and consumer sentiment readings. The Dow Jones Industrial Average futures were off 0.03%, S&P 500 futures were up 0.12%, and Nasdaq futures were moving 0.22% higher.
Bank of Montreal said Friday it sees positive, but sluggish, real consumer spending growth in 2026, following the release of complete retail sales figures for October and an estimate on it for November. Overall, BMO said it has been a mixed bag for Canadian consumers heading into 2026.
Russia's central bank Friday said its Board of Directors decided to cut the key rate by 50 basis points to 16.0%. The reduction was widely expected, wrote Scotiabank in a note to clients. Guidance noted that "monetary policy will remain tight for a long period" with inflation running at 6.6% year over year.
Canada will release retail sales data for October and preliminary November at 8:30 a.m. ET on Friday, said Bank of Montreal. The retail sales report will give the bank the last piece of data for the October real gross domestic product "puzzle." Spending is likely to be little changed in the month, or down a modest 0.5% excluding autos. Volumes should nudge higher in the month.
The US dollar rose against its major trading partners early Friday ahead of the release of existing home sales data for November and the final University of Michigan consumer sentiment reading for December, both at 10:00 am ET.
Nova Scotia's December 2025 forecast update revised the provincial budget balance for fiscal year 2025-26 to a deficit $1.47 billion, or 2.1% of nominal GDP, after accounting for contingencies, said Scotiabank.
Commerzbank in its "European Sunrise" note of Friday highlighted: Markets: United States Treasuries recover into New York close, resume downtrend overnight, long end leads the Japanese government bond sell-off. Fed: Chicago Federal Reserve President Austan Goolsbee says the November inflation report contained a "lot to like" after voting to stay put at last FOMC decision.
US futures were edging higher pre-bell Friday as lower-than-expected US inflation data fueled hopes for a Federal rate cut. The US seasonally adjusted consumer price index, a measure of inflation, rose by 2.7% in November from a year earlier, below expectations for a 3.1% increase in a survey conducted by Bloomberg.
Financial stocks were mixed in late Thursday afternoon trading, with the NYSE Financial Index increasing 0.4% and the State Street Financial Select Sector SPDR ETF down 0.1%. The Philadelphia Housing Index was adding 0.3%, and the State Street Real Estate Select Sector SPDR ETF was shedding 0.5%. Bitcoin was falling 1.3% to $85,054, and the yield for 10-year US Treasuries declined 4 basis point...
The US Federal Reserve has closed formal notices issued to Citigroup (C) that required the bank to enhance trading risk controls, Reuters reported, citing people familiar with the matter. The notices, issued in late 2023, addressed three matters requiring immediate attention.
The consumer price index rose 2.7% year-over-year in November, slowing from a 3% gain in September, the most recent data available. The Bureau of Labor Statistics was unable to calculate October data for several key series, so a month-over-month percent change calculation for November was not possible in those cases. Gasoline and vehicle prices were among the series with October data.
The National Association of Realtors' measure of US existing-home sales is expected to accelerate to a 4.15 million annual rate in November, based on a survey compiled by Bloomberg, after rising by 1.2% to a 4.10 million rate in October. Existing-home sales were at a 4.17 million rate in November 2024, so the year-over-year change would be only slightly negative.
Gold edged down from a record high midafternoon Thursday after the dollar and treasury yields weakened after the United States released incomplete data showing inflation slowed in November.
US benchmark equity indexes were higher intraday, aided by a cooler-than-expected consumer inflation report and a post-earnings rally in Micron Technology (MU) shares.
Financial stocks were higher in Thursday afternoon trading, with the NYSE Financial Index increasing 0.4% and the State Street Financial Select Sector SPDR ETF adding 0.3%. The Philadelphia Housing Index was adding 0.4%, and the State Street Real Estate Select Sector SPDR ETF was shedding 0.4%. Bitcoin was increasing 0.2% to $86,459, and the yield for 10-year US Treasuries was declining 3 basis...
Weekly applications for unemployment insurance in the US fell more than projected, while continuing claims rose, government data showed Thursday. For the week through Dec. 13, the seasonally adjusted number of initial claims dropped by 13,000 to 224,000, the Department of Labor said.
The European Central Bank expects inflation over the next few years to be very close to its 2% target, said Berenberg. At the same time, growth forecasts have been revised upwards. Although there are numerous risks to the further development of inflation, the ECB currently considers them to be balanced, stated Berenberg.
European stock markets look set to close higher in Thursday trading as the Stoxx Europe was up 0.97%, Germany's DAX was advancing 0.99%, the FTSE 100 was gaining 0.69%, France's CAC was rising 0.95%, and the Swiss Market Index was moving 0.82% higher. The European Central Bank's Governing Council said Thursday that it has kept its three key interest rates unchanged.
The Czech central bank Thursday said its board kept interest rates unchanged, with the two-week repo rate at 3.50%, the discount rate at 2.50% and the Lombard rate at 4.50%. This decision was expected by market analysts, noted ING. Lower energy prices will likely bring next year's headline inflation below the target, while core inflation will be exposed to opposing forces, stated ING.
All three major US stock indexes were up in late-morning trading Thursday after the latest batch of inflation data came in lower than expected. The US seasonally adjusted consumer price index, a measure of inflation, rose by 2.7% in November from the year-ago period, below expectations for a 3.1% increase in a survey conducted by Bloomberg.
The Kansas City Fed monthly manufacturing index fell to a reading of 1 in December from 8 in November, below expectations for a smaller decline to 6 in a survey compiled by Bloomberg. The decrease follows lower readings for the other regional manufacturing data released so far.
US consumer prices rose less than expected on an annual basis in November, while core inflation decelerated to the lowest since early 2021, likely keeping the door open for another interest rate cut by the Federal Reserve. The consumer price index rose 2.7% year over year, the Bureau of Labor Statistics reported Thursday.
Gold edged down from a record high early on Thursday after the dollar and treasury yields weakened after the United States released incomplete data showing inflation slowed in November.
US stocks look set to open higher in Thursday's trading session as investors dissect key inflation and jobless claims figures released earlier in the morning, which came in lower than expected.
The Canadian dollar is ending the year on a "strong footing", with gains broad-based across the G10: all currencies except the Swedish krona have depreciated against the loonie, National Bank of Canada noted Thursday. It said the recent resurgence reflects a mix of better-than-expected economic data and clearer policy follow-through from the Canadian federal government since the Nov. 4 budget.
The Bank of England delivered its fourth rate cut of the year, reducing 25bps and taking Bank Rate to 3.75% on Thursday, as expected, said Sanjay Raja, chief United Kingdom Economist at Deutsche Bank. As has been a long-standing theme for the BoE, divisions within the Monetary Policy Committee remain, noted Raja. It's now been more than four years since investors had a unanimous decision.
The US seasonally adjusted consumer price index, a measure of inflation, rose by 2.7% in November from a year earlier, below expectations for a 3.1% increase in a survey conducted by Bloomberg. Core CPI, which excludes food and energy prices, rose by 2.6% year-over-year, also lower than the consensus estimate for a 3.0% increase.
US initial jobless claims fell to a level of 224,000 in the employment survey week ended Dec. 13 after rising to an upwardly revised 237,000 level in the previous week, compared with expectations for a decrease to 225,000 in survey of analysts compiled by Bloomberg. Initial claims were at a level of 222,000 in the employment survey week ended Nov. 15.
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.
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.
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