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...
China's 10-year government bond yield plunged to around 1.98%, nearing an all-time low, following the release of the latest PMI data. On Wednesday, a private survey showed China's services PMI fell in November 2024 from a three-month high in October, missing market expectations. In contrast, earlier this week, the same survey offered a more optimistic outlook, with the manufacturing PMI showing expansion for a second straight month, hitting a five-month high and beating estimates. The mixed signals underscore the uneven recovery across China's economic sectors. Elsewhere, the Communist...
The Shanghai Composite declined 0.2% to around 3,372, while the Shenzhen Component dropped 0.1% to 10,700 on Wednesday, with Chinese stocks struggling to build on recent gains as caution prevailed in the region following a political upheaval in South Korea. Economic uncertainties in China, exacerbated by US President-elect Donald Trump's tariff threats, also weighed on the market outlook. Moreover, data showed that Chinese services sector growth unexpectedly decelerated in November amid slowing new business and foreign sales. Adding to the uncertainty, China's Politburo chose not to...
Hong Kong stocks rose 29 points, or 0.2%, to 19,781 in early trade on Wednesday, rising for a fourth session amid a sharp rise in U.S. stock futures after Wall Street hit another record high overnight, ahead of upcoming monthly U.S. jobs data and a speech by Fed Chair Powell. Meanwhile, private survey data showed China's services sector expanded for a 23rd straight month in November, although the pace of growth slowed from a three-month peak in October. Consumer and technology stocks were mostly higher, following remarks from China's central bank that it will adopt supportive policies next...
China Caixin General Services PMI fell to 51.5 in November 2024, down from a three-month high of 52.0 in October and below market expectations of 52.5. The latest reading reflected moderation in new business growth, despite faster growth in overseas sales. Meanwhile, employment increased for the third straight month, albeit only slightly. On the cost side, input prices rose slightly on higher wages, although the inflation rate eased to a 53-month low and remained below the series average. Output prices fell for the third straight month amid increased competition. Finally, business...
The Nikkei 225 Index dropped 0.2% to below 39,200, while the broader Topix Index fell 0.3% to 2,745 on Wednesday, trimming gains from the previous session as caution gripped the market following political turmoil in South Korea. South Korean President Yoon Suk Yeol unexpectedly declared martial law late Tuesday, citing efforts to prevent opposition parties from disrupting the parliamentary process. However, he reversed the decision after the National Assembly voted against the measure. In Japan, investors remained focused on the outlook for monetary policy, with speculation that the Bank...
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,...