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Yahoo
31-03-2025
- Business
- Yahoo
Wall Street shakes off tariff trepidation
By Alden Bentley NEW YORK (Reuters) - Making sense of the forces driving global markets Jamie is enjoying some well-deserved time off, but the Reuters markets team will still keep you up to date on what moved markets today. Today's Key Market Moves * The S&P 500 ends up 0.55% at 5,611.51 * The 10-year U.S. Treasury note yield falls 3.3 basispoints to 4.222% * The euro falls 0.12% against the dollar to $1.0814 * The dollar rises 0.1% against the yen to 149.93 yen * Gold bullion rises 1.29% to $3,123.92 an ounce Wall Street shakes off tariff trepidation Investors' aversion to uncertainty was the theme across global markets on Monday in the run-up to U.S. President Donald Trump's promised April 2 "Liberation Day" tariff announcements. After sharp share falls in Asia and Europe, the risk-off contagion hit Wall Street in early trade, while safe-haven Treasuries were bought and gold topped $3,100 an ounce for the first time. However, the S&P 500 and the Dow clawed their way back into the green even as Treasury yields stayed slightly lower on the day amid worries about how Trump's trade war will impact U.S. and overseas growth. Goldman Sachs increased the probability of a U.S. recession this year to 35%, also lowering its U.S. GDP growth forecast and year-end target for the S&P 500, establishing itself as the most bearish big firm so far. Month-end and quarter-end adjustments were also afoot, so the choppiness was not a surprise. What could move markets tomorrow? * Japan February unemployment * Reserve Bank of Australia monetary policy meeting * U.S. Job Opening and Labor Turnover Survey for February * U.S. March ISM Manufacturing PMI If you have more time to read today, here are a few articles I recommend to help you make sense of what happened in markets today. * As 'Buy Canadian' grows, more US companies say retailersshunning their products * Trump auto tariffs threaten new supply-price shock * Gold sails above $3,100 to uncharted territory as UStariffs approach * FX options volume surge as investors juggle tariff risks * Markets in Q1: Everything's been Trumped! Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. (Written by Alden Bentley; Editing by Nia Williams)
Reuters
31-03-2025
- Business
- Reuters
TRADING DAY Wall Street shakes off tariff trepidation
NEW YORK, March 31 (Reuters) - Making sense of the forces driving global markets Jamie is enjoying some well-deserved time off, but the Reuters markets team will still keep you up to date on what moved markets today. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. Today's Key Market Moves Wall Street shakes off tariff trepidation Investors' aversion to uncertainty was the theme across global markets on Monday in the run-up to U.S. President Donald Trump's promised April 2 "Liberation Day" tariff announcements. After sharp share falls in Asia and Europe, the risk-off contagion hit Wall Street in early trade, while safe-haven Treasuries were bought and gold topped $3,100 an ounce for the first time. However, the S&P 500 and the Dow clawed their way back into the green even as Treasury yields stayed slightly lower on the day amid worries about how Trump's trade war will impact U.S. and overseas growth. Goldman Sachs increased the probability of a U.S. recession this year to 35%, also lowering its U.S. GDP growth forecast and year-end target for the S&P 500, establishing itself as the most bearish big firm so far. Month-end and quarter-end adjustments were also afoot, so the choppiness was not a surprise. What could move markets tomorrow? Japan February unemployment Reserve Bank of Australia monetary policy meeting U.S. Job Opening and Labor Turnover Survey for February U.S. March ISM Manufacturing PMI If you have more time to read today, here are a few articles I recommend to help you make sense of what happened in markets today. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Written by Alden Bentley; Editing by Nia Williams Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Yahoo
06-02-2025
- Business
- Yahoo
Job Market Stayed In Low Hiring, Low Firing Limbo In December
U.S. employers had 7.6 million job openings in December, below the 8 million forecast. The job market stayed in a holding pattern with little hiring, firing, or quitting. With no sign of distress or severe unemployment, there is little pressure on the Federal Reserve to cut interest rates to bolster the job job market stayed in a now-familiar holding pattern in December, with little hiring, firing, or quitting. U.S. employers had 7.6 million job openings in December, down from 8.2 million in November, the Bureau of Labor Statistics said Tuesday. That was below the 8 million forecasters had expected, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. Quitting, hiring, and layoffs stayed at relatively low levels. There were 1.1 open jobs for every unemployed worker, a ratio that has remained unchanged since Job Opening and Labor Turnover Survey report added details to a separate bureau job market report from December that showed employers adding jobs overall. It painted a picture of a job market that's become stable, if stagnant. The market has cooled down significantly since 2022, when workers were in high demand as the economy recovered from the pandemic. The job slowdown has made it harder for job seekers to find work but hasn't resulted in mass layoffs or a serious rise in were 1.8 million layoffs, the same as in November and close to historic lows. Hiring ticked up to 5.5 million from 5.4 million the month before, below typical pre-pandemic levels. Meanwhile, 3.2 million quit their jobs, up from 3.1 million in November, which is relatively low by historical standards. The low quitting rate suggests that workers are not optimistic about finding higher pay elsewhere. The job market remaining stable has implications for the Federal Reserve, which is tasked with using monetary policy to keep employment high and inflation low. The job market has held steady in recent months, and inflation has stayed stubbornly above the Fed's goal of a 2% annual rate. This prompted the Fed to hold its interest rate at an elevated level at its last meeting in January, keeping upward pressure on all kinds of loans in hopes of discouraging borrowing and pushing inflation down. Stable employment means the Fed has little reason to cut rates in future meetings to boost the economy."The December JOLTS report is consistent with the Fed's view that the labor market is healthy enough to tolerate a more cautious approach to lowering rates," Nancy Vanden Houten, lead U.S. economist at Oxford Economics, wrote in a commentary. Read the original article on Investopedia Sign in to access your portfolio
