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 very slow and methodical about cutting interest rates ... at some point the market will probably make that realization and put things that were tied to rate cuts on sale."
U.S. Federal Reserve Chair Jerome Powell appeared to signal support for a slower pace of interest-rate cuts ahead when he spoke on Wednesday, while San Francisco Fed President Mary Daly said there was "no sense of urgency" on reducing borrowing costs further.
Comments from Richmond Fed President Thomas Barkin are due later in the day.
On the day, data showed the number of Americans filing new applications for unemployment benefits increased moderately last week, suggesting that the labor market continued to cool.
At 11:32 a.m. ET, the Dow Jones Industrial Average (.DJI), 105.25 points, or 0.23%, to 44,908.79, the S&P 500 (.SPX), lost 1.80 points, or 0.03%, to 6,084.84 and the Nasdaq Composite (.IXIC), gained 17.50 points, or 0.09%, to 19,752.62.
Source : Reuters
That the US and China were nearing a trade deal triggered a cross-asset rally, lifting stocks, oil and copper along with China-exposed currencies such as the Australian dollar. Treasuries an...
Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to s...
European stocks closed slightly higher on Friday amid a mix of corporate earnings reports, while markets assessed the outlook for European growth and interest rates. The STOXX 50 edged up to 5,674, an...
European stocks edged lower Friday afternoon after briefly hitting record intraday highs, as investors digested corporate earnings and economic data amid hopes that US–China trade tensions may ease wh...
U.S. stocks reached new heights on Friday as cool inflation data raised investors' optimism that the Federal Reserve can stay on its rate-cutting path, boosting the economy and justifying higher valua...
That the US and China were nearing a trade deal triggered a cross-asset rally, lifting stocks, oil and copper along with China-exposed currencies such as the Australian dollar. Treasuries and gold dropped. Asian shares rose...
Japanese stocks are expected to continue strengthening due to a combination of two factors favored by the market: a weakening yen and expectations of economic stimulus from Prime Minister Sanae Takaichi's government. Nikkei futures traded on the...
Top U.S. and Chinese negotiators said they reached a consensus on key disputes, paving the way for Presidents Donald Trump and Xi Jinping to meet later this week and finalize a trade deal aimed at easing tensions. After two days of talks in...
European stocks edged lower Friday afternoon after briefly hitting record intraday highs, as investors digested corporate earnings and economic data...
Business activity in the United States' (US) private sector expanded at a healthy pace in October, with the S&P Global Composite Purchasing...
European stocks closed slightly higher on Friday amid a mix of corporate earnings reports, while markets assessed the outlook for European growth...
U.S. stocks reached new heights on Friday as cool inflation data raised investors' optimism that the Federal Reserve can stay on its rate-cutting...