The dollar tumbled the most in a year as traders bet on the end of US interest rate hikes. The House passed a spending plan, easing the threat of a government shutdown. Gold and copper prices rose as the cool US CPI eased bets on more Fed rate hikes. Treasury yields slid as soft CPI data boosted the view that the Fed is done hiking rates. Cathie Wood predicts that the US inflation rate will turn negative in 2024.
Nvidia's market value added $200 billion as its winning streak is set to match a record. Canada will carefully review Glencore's deal for Teck Coal Mines. Australian dealmakers are rushing to save $24 billion worth of deals. Low-cost airline Flybondi plans to expand into Brazil after a SPAC deal. Ottawa extends the deadline for the underused housing tax. Surveys show that women are less likely than men to request a raise or negotiate salary. Many Canadians are uncomfortably close to being broke, according to MNP. Edward Jones reports that many Canadians are stuck in a chaotic whirlwind of personal finance stress. Canadian tech workers make 46% less than their US counterparts
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Treasury Yields Slide as Soft CPI Boosts View Fed Is Done Hiking RatesTreasury yields slide as soft CPI boosts view Fed is done hiking rates. Cathie Wood predicts US inflation rate will turn negative in 2024. Nvidia adds $200 billion as winning streak set to match record. Canada to 'carefully' review Glencore deal for Teck Coal Mines. Australian dealmakers rush to save $24 billion worth of deals. Israel latest: Gaza hospitals in focus as Biden urges restraint. Meta has more Wall Street fans than ever as rally nears 300%. Alphabet CEO Pichai grilled on record-keeping at Google Play trial. Investors are covering their short bets, sending stocks higher. Ottawa extends deadline for underused housing tax. Women less likely than men to request a raise, negotiate salary: surveys. Many Canadians 'uncomfortably close to broke': MNP. Many Canadians stuck in 'chaotic whirlwind of personal finance stress': Edward Jones. Canadian tech workers make 46% less than U.S.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Gold and Silver Prices Rise on Tamer U.S. Inflation ReportGold and silver prices are solidly higher in midday U.S. trading Tuesday, following a key U.S. inflation report this morning that came in tamer than market expectations and in turn sunk the U.S. dollar index and dropped U.S. Treasury yields. Short covering in the gold and silver futures markets was featured today, along with some perceived bargain hunting in the cash markets. December gold was last up $17.40 at $1,967.50. December silver was last up $0.837 at $23.20. Today’s U.S. data point of the week saw the consumer price index report for October come in at up 3.2%, year-on-year. CPI was forecast at up 3.3%, year-on-year, versus a gain of 3.7% in the September report. The core CPI rate was up 4.0% in October, compared to the consensus forecast of up 4.1% and up 4.1% in the September CPI report. This data falls into the camp of the U.S. monetary policy doves, who want to see the Federal Reserve halt its interest-rate-tightening cycle. U.S. Treasury yields solidly down-ticked on the CPI data and the U.S. dollar index sold off sharply. The U.S.
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Asia Stocks Set to Gain as CPI Data, Fedspeak Loom: Markets WrapSummary of the latest news in the financial markets, including Asia stocks, failed trade talks, TSX index gain, FTX employee bonus demand, oil output projections, yen surge, emerging-market stocks, hedge fund activities, housing tax deadline extension, salary negotiation gender gap, and Canadian financial stress.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Bonds Surge on CPI Surprise; Asia Stocks to Jump: Markets WrapBonds surge and Asian stocks are expected to jump as US CPI eases bets on more Fed rate hikes. Gold and copper prices rise. Treasury yields slide as soft CPI boosts the view that the Fed is done hiking rates. Cathie Wood predicts negative US inflation rate in 2024. Nvidia adds $200 billion to its value. Canada to review Glencore deal for Teck Coal Mines. Flybondi plans Brazil expansion after SPAC deal. US court ruling revives fight over solar panel tariff waiver. Ottawa extends deadline for underused housing tax. Surveys show women less likely to request a raise or negotiate salary. Many Canadians are financially stressed and tech workers make 46% less than their US counterparts.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Stocks and Bonds Rally as Traders Bet That Fed Hikes Are DoneStocks and bonds rally as traders speculate that the Federal Reserve will not raise interest rates. The TSX index increases by 1.6% due to strength in finance and base metals. The S&P 500 rises by 2% as investors believe the 'Fed is done' and U.S. yields decline. The PGA Tour announces plans to offer equity ownership to players. The SEC celebrates $5 billion in penalties after a year of cracking down on cryptocurrency. Low-cost airline Flybondi plans to expand into Brazil after a SPAC deal. A U.S. court ruling revives the fight over solar panel tariff waivers. Oil prices continue to rise on positive fuel consumption signals. Crypto exchange Blockchain.com raises $110 million at a lower valuation. Ottawa extends the deadline for an underused housing tax. Surveys show that women are less likely than men to request a raise or negotiate salary. Many Canadians are facing financial difficulties and stress. Canadian tech workers earn 46% less than their U.S. counterparts.
Source: BNNBloomberg - 🏆 83. / 50 Read more »