City Powell, county Jerome Financial News

By Stephen Culp

By Lewis Krauskopf

Fed Chair Jerome Powell’s tone on the risks faced by the US economy just shifted in a dovish direction, spurring a pump in the price of Bitcoin (BTC) to new yearly highs at $39,000.

Federal Reserve Chair Jerome Powell participates in a fireside chat with Spelman College President.

Federal Reserve Chairman Jerome Powell on Friday pushed back on market expectations for aggressive interest rate cuts ahead, calling it too early to declare victory over inflation.

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Investing.com -- Traders look ahead to the start of the final month of trading in 2023 following a positive November for stocks on Wall Street. Elsewhere, Tesla (NASDAQ:TSLA) reveals a price tag for the cheapest model of its futuristic-looking Cybertruck that is well above boss Elon Musk's initial estimates, and a private survey shows Chinese manufacturing activity unexpectedly expanded last month.

While markets have begun pricing in rate cuts from key central banks in 2024, it is 'clear that higher interest rates are here to stay'.

Investing.com -- Traders look ahead to the start of the final month of trading in 2023 following a positive November for stocks on Wall Street. Elsewhere, Tesla (NASDAQ:TSLA) reveals a price tag for the cheapest model of its futuristic-looking Cybertruck that is well above boss Elon Musk's initial estimates, and a private survey shows Chinese manufacturing activity unexpectedly expanded last month.

Investing.com — U.S. futures traded in a mixed fashion Friday, starting a new month in a muted fashion ahead of a speech from Fed Chair Jerome Powell.

The US stock market just posted its best month in almost a year and a half, and one of its best Novembers in decades, defying skeptics and fueling hopes for more gains to come.

Investing.com-- Most Asian currencies kept to a tight range on Friday, while the dollar rebounded from 3-½ month lows in anticipation of more cues on interest rates from Federal Reserve Chair Jerome Powell. 

By Ankur Banerjee

Investing.com-- Gold prices steadied near a seven-month high on Friday, pausing their recent rally amid anticipation of more cues on U.S. interest rates from Federal Reserve Chair Jerome Powell later in the day. 

Investing.com-- Oil prices fell slightly in Asian trade on Friday, extending losses from the prior session as the OPEC+ cut supply by a smaller-than-expected margin, while weak data from China added to concerns over worsening demand. 

Investing.com-- Most Asian stocks retreated on Friday, seeing a measure of profit taking after clocking strong gains through November, with focus now turning to an upcoming address from Fed Chair Jerome Powell for more cues on interest rates. 

Former Federal Reserve Bank of St. Louis James Bullard provides insight on the state of the economy on 'The Claman Countdown.'

Investing.com — U.S. stock futures rose Thursday, ending a largely positive month on a strong note ahead of the release of important inflation data which could offer clues of future Federal Reserve interest rate intentions.

interest-rate cuts could be just months away. The benchmark 10-year note yield has fallen by 60 basis points in November, as prices have soared, logging its biggest one-month drop since a 70-bps fall in December 2008, when the Federal Reserve slashed interest rates in response to a struggling economy and a distressed financial system. Yields were last up 1 bp at 4.28% in European trading. The U.S. economy has shown far more resilience than most expected — creating more jobs, maintaining spending and activity and all during 17 months of almost non-stop rate rises from the central bank to lower inflation. Consumer price pressure are abating fast, spending is holding up and there has been enough evidence in the data to suggest the economy is heading for a gentle slowdown rather than recession. In the space of a month, markets have shifted from an expectation for rates to fall by around 60 bps in the second half of the year to pricing a scenario in which the Fed will cut rates by a full percentage point by this time next year, with the possibility of the first drop as early as March. «When it comes to market pricing, a Q1 rate cut has gone from being a complete out-of-consensus view only a month ago, to a serious proposition now.

rate hikes ahead of a crucial inflation report later in the day. The dollar index, which measures U.S. currency against six rivals, eased 0.058% to 102.74, not far from 102.46 — its lowest since Aug. 10 it touched on Wednesday. The index is down 3.7% in November on growing expectations the Fed will cut interest rates in the first half of 2024. The dollar clawed back some of its losses on Wednesday after data showed the U.S.

Bitcoin (BTC) held momentum at $38,000 on Nov. 29 as analysis warned over market corrections.