BEIJING — The Chinese central bank halted its government bond purchases Friday in an attempt to slow a one-way bonds trade that’s put unwanted downward pressure on the yuan, analysts said.China’s 10-year bond yield plunged to a record low this month, while the Chinese currency traded in Hong Kong on Wednesday hit its weakest against the U.S. dollar in more than a year.The People’s Bank of China is “trying to cool down the market by suspending gov[ernment] bond buying,” said Larry Hu, chief China economist at Macquarie.The decision “suggests that the PBOC is concerned about the recent rapid decline in…
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Stanley Black & Decker’s turnaround looks less and less promising as the bond market revolts against the Federal Reserve’s interest rate cuts. We’re at a crossroads with the stock. Shares of Stanley Black & Decker continue to underperform despite the Investing Club’s long-held belief that a rebound in the housing market would follow Fed monetary policy easing. In fact, Stanley Black & Decker has declined more than 21% since the central bank delivered its first rate cut of the cycle on Sept. 18. The Fed’s other two rate reductions — in November and December — haven’t helped either. “I would…
The Pentagon’s detention operation at Guantánamo once held hundreds of men who were captured by U.S. forces and their allies in the war against terrorism. Now there are just 15 prisoners as the prison enters its 24th year.President George W. Bush opened and filled it. President Barack Obama tried to close it but couldn’t. President Donald J. Trump said he would load it up with “bad dudes” and didn’t. And President Biden said he wanted to finish the job Mr. Obama started but will not be able to do it.Unless Congress lifts a ban on the transfer of Guantánamo prisoners…
European markets opened lower on Friday, as investors monitor economic data and ongoing turbulence in the U.K.’s debt markets.The pan-European Stoxx 600 index was down 0.1% shortly after the opening bell, with most sectors and major bourses in negative territory. London’s FTSE 100 shed more than 0.1% during early morning deals.Shares of Ubisoft were down more than 8% by 8:17 a.m. London time, after the French videogame maker said it had appointed strategic advisors to review its options following reports last year that a buyout was under consideration.Traders in the region are monitoring developments in the U.K. market, as yields…
A general view of the Bank of England on Dec. 19, 2024 in London, England. Dan Kitwood | Getty Images News | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayAll eyes on U.S. jobs reportThe U.S. nonfarm payrolls report for December will be released later Friday. Economists expect it to show an increase of 155,000 jobs, down from 227,000 in November, and the unemployment rate…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Seoyoung Kim, associate professor of finance at Santa Clara University, explains where U.S. crypto regulation stands and how it stacks up to other rule-making in other regions around the world.14:17Thu, Jan 9 20253:00 PM EST Source link
The logo for Taiwan Semiconductor Manufacturing Company is displayed on a screen on the floor of the New York Stock Exchange on Sept. 26, 2023.Brendan Mcdermid | ReutersTaiwan Semiconductor Manufacturing Co. posted December quarter revenue that topped analyst estimates, as the company continues to get a boost from the AI boom.The world’s largest chip manufacturer reported fourth-quarter revenue of 868.5 billion New Taiwan dollars ($26.3 billion), according to CNBC calculations, up 38.8% year-on-year.That beat Refinitiv consensus estimates of 850.1 billion New Taiwan dollars.TSMC manufacturers semiconductors for some of the world’s biggest companies, including Apple and Nvidia.This story is being updated.…
President Volodymyr Zelensky on Thursday implored representatives from roughly 50 nations to maintain their military support for Ukraine’s nearly three-year-long war with Russia, saying it would “be crazy to drop the ball now.”“It’s clear that the new chapter starts for Europe and the entire world just 11 days from now, at a time when we have to cooperate even more, rely on one another even more and achieve even greater results together,” Mr. Zelensky said, referring to the inauguration of U.S. President-elect Donald J. Trump on Jan 20. Mr. Trump has publicly expressed doubt about continuing to assist Ukraine once…
Traders work on the floor of the New York Stock Exchange (NYSE) on the first day of trading of the new year on January 02, 2025 in New York City. Spencer Platt | Getty ImagesU.S. stock futures fell on Friday morning as investors anxiously await the release of new economic data on Friday.S&P 500 futures shed about 0.28%, and Nasdaq 100 futures fell 0.32%. Futures tied to the Dow Jones Industrial Average dropped 79 points, or 0.18%.The moves come as Wall Street is gearing up for December’s nonfarm payrolls reading, which is scheduled to come out at 8:30 a.m. ET on…
Firefighters rushed to contain the Los Angeles wildfiresOfficials hoped that a drop in wind speeds yesterday would give firefighters a window to take control of the fast-moving blazes that have raged unchecked this week. At least five people have been killed, but that figure is expected to rise. Almost 180,000 people were under evacuation orders. Entire neighborhoods have been destroyed, along with landmarks, making the landscape unrecognizable. Follow our live coverage and our maps of fires.The Santa Ana winds, dangerous gusts that have spread the flames, were expected to intensify overnight and through the weekend, and possibly continue into next…
