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...
Asia-Pacific markets open mostly lower Friday after Wall Street saw the Dow Jones Industrial Average drop more than 200 points and S&P 500 retreat from a record high. Traders in Asia assessed household spending data out of Japan. Spending grew 2.9% in October compared to the previous month, beating expectations of a 0.4% growth by economists polled by Reuters. Year-over-year, household spending fell 1.3% in October, less than an expected 2.6%. India's central bank will announce its interest rate decision Friday. The Reserve Bank of India is expected to hold its key policy rate at 6.50%...
Nominal wages in Japan rose 2.6% year-on-year in October 2024, marking the slowest growth since May, in line with market expectations. In contrast, inflation-adjusted real wages—a key measure of consumer purchasing power—held steady compared with October 2023. That was an improvement from a 0.4% decline in September and a 0.8% decline in August. The stability in real wages has strengthened expectations of an interest rate hike by the Bank of Japan this month, although market sentiment remains divided over whether the next hike will come in December or January. BOJ Governor Kazuo Ueda...
US stocks closed lower on Thursday, retreating from records as investors tread cautiously ahead of Friday's pivotal jobs report, which could influence the Federal Reserve's December rate decision. The S&P 500 and Nasdaq slipped 0.2%, while the Dow Jones dropped 248 points. Weekly jobless claims rose to 224,000, slightly above expectations, indicating a cooling labor market. Tomorrow's nonfarm payrolls report is anticipated to show a gain of 200,000 jobs, with weaker data potentially bolstering expectations for a rate cut, currently at a 74% probability for a 25-basis-point reduction at...
Wall Street's main indexes were mostly flat on Thursday after recording all-time closing highs in the previous session, with focus on the monthly employment report due on Friday as markets mostly brushed off weekly jobless claims data. The crucial nonfarm payrolls report, scheduled for release before markets open, could be key in gauging the Federal Reserve's interest rate trajectory. Eric Clark, portfolio manager at the Rational Dynamic Brands Fund, said the market could get a rate cut in December but the Fed might be more cautious going forward. "They have already hinted about being...
European stocks edged higher on Thursday, with the Stoxx 50 and Stoxx 600 both up around 0.5%, extending gains from the past five sessions despite sectoral volatility. Banking and travel stocks led with over 2% gains, while oil and gas stocks dipped 0.4%. In France, markets remained steady despite political upheaval, as the CAC 40 rose 0.4% to its highest since mid-November after Prime Minister Michel Barnier's government fell to a no-confidence vote. Analysts noted no immediate risk of a government shutdown, easing investor concerns. In the UK, the Competition and Markets Authority...
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,...