(Bloomberg) — Gold declined in quiet holiday-week trading after mixed US jobless data in did little to alter bets on the outlook for Federal Reserve interest-rate cuts. Most Read from Bloomberg Bullion fell 0.6% to $2,617.75 an ounce, wiping out Thursday’s advance, after recurring applications for US unemployment benefits rose to the highest in more … Read more
(Bloomberg) — Brazil’s annual inflation unexpectedly slowed in early December as energy costs dropped, giving central bankers limited relief as they pledge two more jumbo interest rate hikes by March. Most Read from Bloomberg Official data released Friday showed consumer prices rose 4.71% from a year earlier, below the 4.83% median estimate in a Bloomberg … Read more
Good morning, and happy holidays! Greg McKenna here filling in for Sheryl. The resolution of the U.S. election has CFOs increasingly confident heading into 2025. In Grant Thornton’s fourth-quarter survey of finance chiefs, 68% of those polled expressed optimism about the state of the economy, a 22-percentage point increase from Q3. Wall Street is similarly … Read more
(Reuters) – U.S. equity funds attracted significant inflows in the week to Dec. 25, recovering from a prior-week sell-off, buoyed by a cooler inflation report, a stopgap funding bill averting a government shutdown and a so-called “Santa Claus” rally. According to LSEG Lipper data, U.S. equity funds gained inflows for the seventh week in eight … Read more
(Reuters) – Global equity funds witnessed sharp inflows in the week through Dec. 25, rebounding from significant net sales the previous week, buoyed by a benign U.S. inflation report and relief that Washington had averted a government shutdown, which restored investor confidence in risk assets. According to LSEG data, investors pumped a hefty $34.38 billion … Read more
(Bloomberg) — Egypt held its benchmark interest rate steady on Thursday, opting to keep it at a record high even as double-digit inflation eased to the lowest level in two years. Most Read from Bloomberg The Monetary Policy Committee kept the deposit rate at 27.25% and the lending rate at 28.25%. The decision was in … Read more
By Shariq Khan NEW YORK (Reuters) -Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from U.S. crude inventories last week. Brent crude futures rose 91 cents, or 1.2%, to settle at $74.17 per barrel. U.S. West Texas … Read more
(Bloomberg) — A month ago, all anyone in markets could talk about was Donald Trump and how his blueprint for the US economy would sow growth, next year and beyond. Most Read from Bloomberg Heading into the Christmas break, a no-less-formidable force has retaken the stage: Jerome Powell. The Federal Reserve chair’s hawkish turn this … Read more
(Bloomberg) — Major US stock indexes saw their worst week since mid-November after the Federal Reserve’s decision to be more cautious about cutting interest rates next year roiled markets. Treasuries sold off for a second consecutive week. Most Read from Bloomberg The S&P 500 and the Nasdaq 100 rose on Friday — paring what would … Read more
(Bloomberg) — Billions of dollars in federal loans to Rivian Automotive Inc., Plug Power Inc., PG&E Corp. and other companies are under threat because of a potential US government shutdown. Most Read from Bloomberg The Biden administration’s Energy Department has been racing to cement more than $41 billion in conditional financing before the Jan. 20 … Read more