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Real-time News
Market news: Meta Platforms (META.O) has completed a $30 billion bond issuance.U.S. Treasury yields rose on Monday, November 4, as high corporate bond issuance and a continuation of the pessimistic tone of the previous week in the Treasury market followed Federal Reserve Chairman Jerome Powells remarks dampening the possibility of further monetary easing this year. Meanwhile, the U.S. government shutdown, which began on October 1, is on track to become the longest shutdown in history this week, disrupting the release of key economic data and increasing uncertainty for policymakers and investors as they assess the trajectory of inflation and a weak labor market. "I think the decline in Treasury yields has been too rapid and too sharp," said Kelly Kowalski, head of investment strategy at MassMutual. "The market had been expecting a significant rate cut from the Fed, but Powell dampened those expectations last week… More important than the December meeting, this has raised questions about the markets already priced-in significant rate cuts next year and the Feds view on that," she said, adding, "This is largely related to the lack of data."The Dow Jones Industrial Average closed down 226.19 points, or 0.48%, at 47,336.68 on Monday, November 3; the S&P 500 rose 11.77 points, or 0.17%, to 6,851.97 on Monday, November 3; and the Nasdaq Composite rose 109.77 points, or 0.46%, to 23,834.72 on Monday, November 3.November 4th - According to four sources familiar with the matter, as Trump strikes at what he sees as political rivals, Acting Inspector General Joe Allen of the Federal Housing Finance Agency has been dismissed. This comes after the agencys director, Bill Pulte, became a vocal supporter of the Trump administration. Across the government, the Trump administration has so far fired or reappointed nearly 24 agency oversight personnel responsible for monitoring waste, fraud, and abuse.November 4th - According to data from the Fibre Box Association, shipments of corrugated boxes in the US fell to their lowest level for the same period since 2015 in the third quarter, continuing the sluggish trend of the previous quarter. This has exacerbated concerns that US retailers may have disappointing sales performance during this years holiday season. In recent weeks, several packaging companies have warned that economic uncertainty is suppressing the spending intentions of retailers and consumers. Corrugated boxes are mainly used for shipping goods and in-store displays, and shipment volumes are often considered a leading indicator of demand for food and consumer goods. The period leading up to the Christmas season is crucial for the corrugated box industry, with shipments typically peaking in October to help retailers prepare for the holiday season.
