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...
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...
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...