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stock market and banks closed on martin luther king jr day 2025
The U.S. stock market will be closed on Martin Luther King Jr. Day, January 20, 2025, marking its third closure of the year. Most banks will also be closed in observance of the federal holiday, following the Federal Reserve's lead. Additionally, January 20 coincides with Inauguration Day for President-elect Donald Trump.
us jobs data boosts dollar while stocks decline amid rate concerns
U.S. stocks fell sharply and the dollar rose after December's jobs data showed a stronger-than-expected increase in nonfarm payrolls, with 256,000 jobs added and the unemployment rate dropping to 4.1%. This has led to reduced expectations for interest rate cuts, with traders now anticipating only a 30 basis point reduction this year. Meanwhile, U.S. Treasury yields surged to a 14-month high, exacerbating pressure on equities and raising concerns about inflation and higher borrowing costs.
Market watchers are anticipating a stable unemployment rate in December, with expectations of 155,000 new jobs added. U.S. stock futures are slightly lower following a market closure for former President Jimmy Carter's funeral, while insurance stocks drop amid soaring wildfire damage estimates of up to $150 billion. Delta Air Lines shares surge 7% after exceeding Q4 profit expectations, and Taiwan Semiconductor Manufacturing Co. sees a 1.2% rise in stock following better-than-expected revenue results.
asian shares decline amid rate cut concerns and tariff uncertainties
Asian shares fell on Friday, reflecting concerns over the Federal Reserve's potential interest rate cuts amid strong U.S. economic data and tariff uncertainties under the incoming Trump administration. The Nikkei 225 dropped 0.9%, while Chinese markets also extended losses. In contrast, European markets showed mixed results, with London's FTSE 100 gaining 0.8% as the pound weakened.
markets on edge ahead of crucial payrolls report and bond yield trends
Most Asian stocks declined ahead of the crucial U.S. payrolls report, which is expected to influence Treasury yields and the dollar. The 10-year Treasury yield hovers near an eight-month peak, while British bond yields reached their highest since 2008. A strong payrolls report could push yields past 4.739%, impacting stock valuations and the dollar's strength, particularly against the British pound, which has fallen to a year-low.
treasury yields decline as dollar strengthens amid fed policy reassessment
U.S. Treasury yields fell from an eight-month high as the dollar strengthened, with investors reassessing the Federal Reserve's interest rate policy amid signs of economic resilience. The 10-year yield dropped to 4.689%, while the dollar index rose to 109.15. The upcoming U.S. payrolls report is expected to provide further insights into the Fed's policy direction.
Toronto stock market rises as mining shares gain amid cautious trading
Canada's main stock index rose 0.1% to 25,073.36, driven by a 1.5% increase in the materials sector as metal prices climbed. However, industrials fell 0.6%, influenced by declining railroad shares. Investors are cautious ahead of upcoming U.S. and Canadian employment data, which may impact interest rate expectations.
us stock markets close for national day of mourning for jimmy carter
US stock markets, including the NYSE and Nasdaq, closed on January 9 to observe a National Day of Mourning for former President Jimmy Carter, with the national flag flown at half-staff. Carter's state funeral was held at the Washington National Cathedral, attended by all five living former presidents, honoring his legacy of honesty and kindness amid challenges during his presidency.
stock markets pause for funeral of former president jimmy carter
Stock markets will halt trading on Thursday in honor of former President Jimmy Carter, who passed away at 100. His presidency (1977-80) was marked by significant events, including the Iran Hostage Crisis, and he later became known for his humanitarian efforts.On Friday, the U.S. Bureau of Labor Statistics will release the Employment Situation report, with expectations of 155K jobs added in December and an unemployment rate steady at 4.2%. This report is crucial for the Federal Reserve's monetary policy considerations, especially amid concerns about the incoming administration's economic impact.
california wildfires impact insurance stocks and market outlook
Shares of Mercury Insurance fell 6.5% amid ongoing wildfires in California, which have caused significant damage, particularly in Pacific Palisades. Travelers received a double-upgrade from Goldman Sachs, with analysts predicting manageable insurance losses from the fires, estimated between $52 billion and $57 billion. The impact on insurance stocks is notable, with Travelers and Allstate expected to face substantial claims.
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