The Canadian dollar weakened against its U.S. counterpart on Thursday as investors reduced bets on another oversized interest rate hike by the Bank of Canada next week and despite the greenback losing ground against some major peers.
* U.S. consumer spending solid in October. * Salesforce (CRM) slides on co-CEO exit news. * Costco down on slower sales growth in November. * Futures up: Dow 0.11%, S&P 0.31%, Nasdaq 0.29% By Ankika Biswas and Shreyashi Sanyal.
- Wall Street ended mixed on Thursday as a selloff in Salesforce weighed on the Dow, while traders digested U.S. data that suggested the Federal Reserve's interest rate hikes are working. On Wednesday, the S&P 500 surged over 3% on optimism the Fed might moderate its campaign of interest rate hikes.
- Wall Street ended mixed on Thursday as a selloff in Salesforce weighed on the Dow, while traders digested U.S. data that suggested the Federal Reserve's interest rate hikes are working. On Wednesday, the S&P 500 surged over 3% on optimism the Fed might moderate its campaign of interest rate hikes.
* Futures: Dow dips 0.16%, S&P flat, Nasdaq off 0.11% By Ankika Biswas. U.S. stock index futures were little changed on Thursday after a strong Wall Street rally in the previous session on hopes of a potential downshift in the Fed's policy on aggressive rate hikes, while Salesforce (CRM) fell on news of its co-CEO to step down.
A look at the day ahead in U.S. and global markets from Mike Dolan. Intended or not, investors clearly read Wednesday's keynote speech by the Federal Reserve chair as a green light for a yearend relief rally in beaten down assets.
Japan's Nikkei index snapped a four-session losing streak on Thursday after Wall Street rose sharply overnight as U.S. Federal Reserve Chair Jerome Powell struck a more dovish tone than the market had expected.
Asian equities jumped on Thursday, while the dollar slid as investors poured into risky assets after Federal Reserve Chair Jerome Powell opened the door to a slowdown in the pace of monetary tightening. In an eagerly-awaited speech, Powell said the central bank could scale back the pace of its interest rate hikes "as soon as December," but cautioned the fight against inflation was far from over.
Japan's Nikkei index rose on Thursday, tracking Wall Street's sharp gains overnight after U.S. Federal Reserve Chair Jerome Powell struck a more dovish tone than the market expected. By 0150 GMT, the Nikkei share average was up 1.1% at 28,274.82, set to snap four straight sessions of losses.
Wall Street equities made little progress in Thursday's choppy session as investors digested economic data after a big rally in the previous session from U.S. Federal Reserve signals that it would slow its interest rate hiking pace.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required