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European Stocks Close Higher On Hopes Of Smaller Rate Hikes By Fed
European stocks closed higher on Thursday with several key indices hitting multi-month highs, as investors cheered Fed Chair Jerome Powell's comments that interest rate hikes will be smaller from as early as December.
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Canadian Market Remains In Positive Territory At Noon
Despite coming off early highs, the Canadian market remains in positive territory around noon on Thursday thanks to strong gains in technology, materials and healthcare stocks.
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U.S. Construction Spending Dips In Line With Estimates In October
The Commerce Department released a report on Thursday showed U.S. construction spending decreased in line with economist estimates in the month of October. The report said construction spending fell by 0.3 percent to an annual rate of $1.795 trillion in October after inching up by 0.1 percent to a revised rate of $1.800 trillion in September.
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U.S. Manufacturing Index Indicates First Contraction Since May 2020
Activity in the U.S. manufacturing sector contracted for the first time in over two years in the month of November, according to a report released by the Institute for Supply Management on Thursday. The ISM said its manufacturing PMI slipped to 49.0 in November from 50.2 in October, with a reading below 50 indicating a contraction.
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U.S. Personal Income Climbs More Than Expected, Consumer Price Growth Slows
The Commerce Department released a report on Thursday showing U.S. personal income increased by more than expected in the month of October. The report said personal income climbed by 0.7 percent in October after rising by 0.4 percent in September. Economists had expected another 0.4 percent increase.
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U.S. Weekly Jobless Claims Pull Back Off Three-Month High
A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended November 26th. The report said initial jobless claims fell to 225,000, a decrease of 16,000 from the previous week's revised level of 241,000.
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Hyundai Motor America November Total Sales Up 43%
Hyundai Motor America reported Thursday that it sold a total of 63,305 units in the month of November, up 43 percent from last year's 44,345 units, driven by new November sales records for Elantra HEV, Santa Cruz, Santa Fe, Santa Fe HEV, Tucson, Tucson HEV and Kona EV.
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Retailers Dollar General, Big Lots Report Weak Results; Stock Down
Retailers Dollar General Corp. (DG) and Big Lots, Inc. (BIG) reported Thursday results for the third quarter, with profit at Dollar General increasing from last year, while Big Lots reported a sharply wider loss than last year. The bottom line at both the retailers missed analysts' estimates.
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U.S. Personal Income Climbs More Than Expected In October
The Commerce Department released a report on Thursday showing U.S. personal income increased by more than expected in the month of October.
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U.S. Weekly Jobless Claims Pull Back More Than Expected
A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended November 26th.
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Bay Street Looks Headed For Positive Start
Canadian shares look headed for a positive start on Thursday, with energy and materials shares likely to gain on firm commodity prices.
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U.S. Dollar Dips As Fed Chair Powell Hints At Smaller Rate Hikes
The U.S. dollar weakened against its major rivals in the European session on Thursday, following Federal Reserve Chair Jerome Powell's comments indicating a slower pace of rate hikes from this month.
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Eurozone Manufacturing Sector Logs Another Contraction
Eurozone manufacturing activity continued its downward trend in November but the rates of decline in output and new orders were less aggressive than seen a month ago, final data from S&P Global showed on Thursday. The final manufacturing Purchasing Managers' Index rose to a two-month high of 47.1 in November from 46.4 in the previous month. The flash reading was 47.3.
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