If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with the shutdown in Washington, other reports outside the government data suggest the labor market just plodded along in September. The Dow Jones consensus forecast was for growth of 51,000 in nonfarm payrolls with the unemployment rate holding steady at 4.3%. High-frequency data that includes job postings, private payrolls and state-by-state figures...
US stocks were mixed on Wednesday, with the S&P 500 trading around the flatline and the Nasdaq down 0.1% while the Dow Jones rose about 90 points, ending a nine-session losing streak, its longest since 1978. Investors are focused on the upcoming FOMC decision later in the day, where the Fed is widely expected to announce a 25bps cut to the federal funds rate. Additionally, the Fed will release its latest economic projections, including the closely watched "dot plot" that outlines policymakers' expectations for future interest rate moves. On the corporate side, Nvidia shares rose nearly...
The Hang Seng rose 164 points, or 0.9%, to close at 19,865 on Wednesday, snapping a three-session slide. The rally was driven by a significant increase in U.S. interest rate futures as investors anticipated a 25bps rate cut by the Fed later in the day and its outlook for a reduction in 2025. The index rebounded from its lowest level in more than a week amid indications that China will boost fiscal spending in 2025 by raising its budget deficit to a record 4% of GDP, up from 3% this year. Meanwhile, Chinese regulators have asked state-owned companies to boost their market value through...
European stocks opened higher on Wednesday as investors await the latest monetary policy decision by the U.S. Federal Reserve. Traders are pricing in a 95% chance of a quarter-point cut on Wednesday, according to CME Group's Fed Watch tool. Investors will also be looking closely at the Fed's Summary of Economic Projections and Fed Chair Jerome Powell's press conference, for clues on what might happen in the coming months. The central bank is widely expected to temper runaway expectations for further interest rate cuts in the coming year, especially as inflation remains stubbornly...
The Nikkei 225 index fell 0.72% to close at 39,082 while the broader Topix index fell 0.31% to 2,720 on Wednesday, with Japanese shares falling for a fourth straight session and tracking losses on Wall Street overnight as investors braced for the U.S. Federal Reserve's policy announcement. At home, traders analyzed data showing Japan's export growth accelerated to a three-month high in November, while imports unexpectedly fell. Attention also turned to this week's Bank of Japan policy meeting, where the central bank may hold off on raising interest rates as policymakers take time to assess...
Hong Kong stocks jumped 177 points, or 0.9%, to 19,874 in early trading on Wednesday, marking their first gain in four sessions. The gains were supported by a small rise in U.S. stock futures ahead of an anticipated Fed rate cut later in the day. The market moved away from its lowest level in more than a week, hit a day earlier, with all sectors gaining, especially technology and consumer discretionary. Source: Trading Economics
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
The U.S. government shut down much of its operations on Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal, setting off what could be a long,...