Moodys Financial News

By Dhara Ranasinghe

Investing.com — US stock futures experienced marginal decreases during Sunday's evening trade after Moody's (NYSE:MCO) Investors Service revised its US credit rating outlook from stable to negative.

By Kevin Buckland

inflation data from the United States that is expected to offer further clues this week on whether the Federal Reserve has more work to do to tame price pressures. The Japanese yen remained vulnerable, hovering not far from a one-year low against the greenback as markets remained on watch for possible intervention by Tokyo. The focus for most traders will be firmly on U.S. consumer price index (CPI) numbers due on Tuesday after the Fed's policy meeting this month tempered its hawkish stance although Fed Chair Jerome Powell last week hinted that the battle against inflation may not be over yet.

Stocks in Asia rose on Monday while Treasuries and the dollar kept their composure, as investors took their lead from Wall Street's Friday rally, shrugging off a Moody's downgrade to the U.S. credit outlook. Tech stocks stood out, as they had in the U.S. at the end of last week, after the calming of long-term Treasury yields since the start of this month boosted the outlook for borrowing-dependent growth shares. U.S.

For now, the agency has maintained its Aaa rating on US government debt. The US Treasury immediately voiced its disagreement with Moody's decision. «The American economy remains strong, and Treasury securities are the world's preeminent safe and liquid asset,» Deputy Secretary of the Treasury Wally Adeyemo in a statement. «The Biden Administration has demonstrated its commitment to fiscal sustainability, including through the more than $1 trillion in deficit reduction included in the June debt limit deal as well as President Biden's budget proposals that would reduce the deficit by nearly $2.5 trillion over the next decade.» The US budget deficit, published last month for the 2023 fiscal year ending September 30, has widened to $1.7 trillion. Due to interest rate hikes by the US central bank to curb inflation, the cost of debt for the United States has ballooned, with Washington paying $162 billion more for interest in the last fiscal year compared to 2022.

Mike Johnson unveiled a Republican stopgap spending measure on Saturday aimed at averting a government shutdown a week from now, but the measure quickly ran into opposition from lawmakers from both parties in Congress. Unlike ordinary continuing resolutions, or "CRs," that fund federal agencies for a specific period, the measure announced by Johnson would fund some parts of the government until Jan.

«This two-step continuing resolution is a necessary bill to place House Republicans in the best position to fight for conservative victories,» Johnson said in a statement after speaking with GOP lawmakers in an afternoon conference call. «The bill will stop the absurd holiday-season omnibus tradition of massive, loaded up spending bills introduced right before the Christmas recess.» The bill excludes funding requested by President Joe Biden for Israel, Ukraine and the US border with Mexico.

By David Morgan

The credit rating agency Moody’s Investors Service has lowered its outlook on the U_S_ government’s debt to “negative” from “stable.”

China continues to battle its property demons while it is Italy's turn to be in the eye of the ratings agencies. Here is your week-ahead primer from Lewis Krauskopf in New York, Kevin Buckland in Tokyo, Danilo Masoni in Milan and Alun John and Dhara Ranasinghe in London. 1/ INFLATION WATCH A slew of Federal Reserve policymakers including boss Jerome Powell say they are still not sure that rates are high enough to finish the battle with inflation. Traders, anticipating roughly three quarter-point Fed rate cuts next year, will now turn their attention to Tuesday's inflation data to confirm their view on the outlook. The October consumer price index is expected to have climbed 0.1% on a monthly basis, according to a Reuters poll. September's CPI rose 0.4% on a surprise surge in rental costs, but also showed a moderation in underlying inflation pressures. A sharper cooling could fan the peak rate talk, fuelled by October's employment report, which pointed to an easing in labor markets. A federal government shutdown meanwhile looms if lawmakers in Washington are unable to pass a measure to at least temporarily fund operations before a Nov.

(Reuters) -Moody's on Friday changed its outlook on the U.S. credit rating to «negative» from «stable» citing large fiscal deficits and a decline in debt affordability.

India Economics Comment: The fog of food prices, also highlighted the likelihood of muted rural demand putting fiscal pressure on the government ahead of elections. Retail inflation in India, which had climbed to a 15-month peak in July, moderated to 5.02% in September, aided by softening food prices. The surge in July food inflation to 11.5%, a three-year record, has since tempered to 6.56% in September.

Tata Motors Moody's has upgraded the corporate family rating of Tata Motors and Jaguar Land Rover to “Ba3” from “B1”, while maintaining a positive outlook. ZEE Zee Entertainment Enterprises (ZEE) Thursday reported 9% growth in its consolidated net profit to Rs 123 crore in the September quarter. Read more: Here's the trade setup for today's session LIC, ONGC, Coal India, M&M, Eicher Motors, BSE, Hindalco Shares of LIC, ONGC, Coal India, M&M, Eicher Motors, BSE, and Hindalco will be in focus as the companies will announce their second quarter results. Aurobindo Pharma Aurobindo Pharma reported net profit of Rs 757 crore for the quarter ended September. Revenue from operations stood at Rs 7,219 crore. ICICI Bank ICICI Bank said ICICI Securities will be its wholly owned subsidiary following the approval of the Reserve Bank of India. Muthoot Finance Muthoot Finance posts net profit of Rs 991 crore in the second quarter.

By Matt Tracy

Global shares are mostly lower in muted trading ahead of a speech by U.S. Federal Reserve Chair Jerome Powell that might point the way for future interest rate policy

By Nivedita Balu

MEXICO CITY (Reuters) — Mexican soldiers and rescue workers on Thursday scrambled to clear up the chaos and devastation wrought by Hurricane Otis in Acapulco as the government worked to bring relief to the battered southern beach resort.

(Reuters) — S&P Global is the first among the “big three” rating agencies to upgrade Greece to investment grade since the country’s debt crisis in 2010.

(Reuters) -Ratings agency Moody's (NYSE:MCO) revised Britain's outlook to «stable» from «negative» on Friday, saying policy predictability has been restored after heightened volatility last year around the mini-budget under then Prime Minister Liz Truss.

Israel-Hamas War LIVE Updates Also read: Day 14 Israel-Hamas War: Israel bombs historic church in Gaza | 10 updates "Israel's credit profile has proven resilient to terrorist attacks and military conflict in the past," it said. "However, the severity of the current military conflict raises the possibility of longer lasting and material credit impact," it added.