The consumer price index jumped by 0.9% in March, with energy prices up 10.9% on a record high 21.2% jump in gasoline prices, accounting for almost 75% of the overall price increase. Consumer prices were up 0.2% excluding food and energy prices, below expectations, with food prices flat.
The National Association of Realtors' measure of US existing-home sales is expected to slow to a 4.08 million annual rate in March, based on a survey compiled by Bloomberg, after rising by 1.7% to a 4.09 million rate in February. Existing-home sales were at a 4.02 million rate in March 2025, so the year-over-year change would be positive.
National Bank notes we'll get an update on the state of the residential sector with the release of March Housing Starts next Friday. National Bank notes we will on Thursday also get Existing Home Sales numbers. In other news, National Bank says Manufacturing Sales data on Wednesday may have expanded 3.8% m/m in February, on increases in the food and transportation equipment subsectors.
Gold futures eased midafternoon on Friday even as the dollar weakened after a report showed U.S. inflation surged in March on higher gasoline prices, cutting hopes for a cut to interest rates from the Federal Reserve. Gold for May delivery was last seen down US$28.50 to US$4,789.50 per ounce.
In Canada, CIBC says, the release Wednesday of both Manufacturing and Wholesale data for February should confirm the sharp rebounds already signaled by the advance estimates. However, CIBC adds, housing starts figures for March on Friday are likely to show building activity still. tracking a lower level than the 2025 average.
US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. Wall Street expected a 51.5 print, according to Bloomberg's poll.
The S&P 500 and Nasdaq Composite were up, while the Dow Jones Industrial Average was down in late-morning trading on Friday as investors weighed the latest inflation data that came in below expectations. The US seasonally adjusted consumer price index rose by 3.3% year over year and 0.9% sequentially in March, driven by rising energy prices due to the war in Iran.
US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher. The consumer price index advanced 0.9% last month, its strongest pace of growth since June 2022, the Bureau of Labor Statistics reported Friday.
The University of Michigan's preliminary consumer sentiment index fell to 47.6 in April from 53.3 in March, much lower than expectations for an increase to 51.5 in a survey compiled by Bloomberg.
Canada's economy added 14,000 jobs in March, or 0.1% month over month, which is more-or-less in line with consensus expectations for a 15,000 gain, said TD after Friday's Labour Force Survey. Employment was essentially flat across job types, with full-time employment edging down slightly, or 1,000, while private-sector employment rose by 15,000 on the month.
BMO's Douglas Porter says the bottom line to be taken from Friday's Canadian employment data is that "for a refreshing change", results were "no big surprise" in March, and he adds the big picture take away is that job growth has been quite modest over the past year, but so, too, has been the growth in the available labour force, holding the unemployment rate steady.
Gold futures eased early Friday even as the dollar weakened after a report showed U.S. inflation surged in March on higher gasoline prices, cutting hopes for a cut to interest rates from the Federal Reserve. Gold for May delivery was last seen down $31.10 to US$4,786.90 per ounce.
"Overall, and through the monthly volatility, the Canadian labour market still appears quite weak, which should limit the ability of the current oil price shock to widely spread into broader inflationary pressures, enabling the Bank of Canada to hold interest rates at their current level throughout 2026," says CIBC's Andrew Grantham after the release Friday of Canada's LFS employment data for M...
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust was 0.1% higher in Friday's premarket activity amid lingering geopolitical uncertainty and the release of consumer inflation data.
After a string of job losses to begin the year, Canada's labour market had "some signs of stabilization" in March, says Royce Mendes at Desjardins after the release of Friday's Labour Force Survey showing the Canadian economy added back 14,000 jobs in March, leaving the unemployment rate unchanged at 6.7%. But, he adds, all of the new positions were part-time, with full-time jobs "stable" after...
Berkshire Hathaway (BRK/A) sold 272.3 billion Japanese yen worth of yen-denominated bonds, the first such deal since Warren Buffett retired as chief executive officer, Bloomberg said in an updated report Friday. The offering consisted of six tranches and included maturities ranging from three to 30 years, the report said. The company has increased its investments in Japan, the report said.
Canada's employment was little changed in March, up 14,000 or 0.1% month over month, while the unemployment rate was unchanged at 6.7%, said the country's statistical agency in Friday's Labour Force Survey. The job increases were in line with a forecast 14,500 increase and 6.7% unemployement rate provided by MUFG.
The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.9% in March, as expected in a survey compiled by Bloomberg as of 7:30 am ET and following a 0.3% increase in February, according to data released Friday by the Bureau of Labor Statistics.
JD.com (JD) said Friday it closed its offering of 10 billion Chinese renminbi of senior unsecured notes. The offering comprised 7.5 billion renminbi of 2.05% notes due 2031 and 2.5 billion renminbi of 2.75% notes due 2036. The company said it plans to use the net proceeds for general corporate purposes. MT Newswires does not provide investment advice.
Canada releases the Labour Force Survey for March on Friday at 8:30 a.m. ET, said ING. Consensus is for a 15,000 payroll increase after the very soft 83,000 drop in February, noted the bank. However, the bigger signal for the Bank of Canada tends to come from the unemployment rate rather than the quite volatile monthly swings in jobs, stated ING.
The Toronto Stock Exchange closed lower on Thursday, the first drop in seven sessions, on some profit taking, but also on wariness around continuing geopolitical tensions across the Middle East and lingering concerns around inflation with a recent spike in oil prices seen adding to existing tariff-related pressures on global economies.
Financial stocks increased late Thursday afternoon, with the NYSE Financial Index adding 0.3% and the State Street Financial Select Sector SPDR ETF up 0.4%. The Philadelphia Housing Index was climbing 1.2%, and the State Street Real Estate Select Sector SPDR ETF rose 0.8%. Bitcoin rose 1.1% to $72,174, and the yield for 10-year US Treasuries was slightly lower at 4.29%. In economic news, US eco...
The US economy expanded at a slower rate in the fourth quarter than previously projected, as consumer spending growth decelerated, the Bureau of Economic Analysis' third estimate showed Thursday. Real gross domestic product increased at a 0.5% annualized rate in the December quarter, down from the 0.7% growth reported in the second estimate.
Financial stocks were advancing in late Thursday afternoon trading, with the NYSE Financial Index adding 0.4% and the State Street Financial Select Sector SPDR ETF up 0.3%. The Philadelphia Housing Index was climbing 1.3%, and the State Street Real Estate Select Sector SPDR ETF rose 0.9%. Bitcoin rose 1% to $71,832, and the yield for 10-year US Treasuries was slightly lower at 4.29%. In corpora...
The US Consumer Price Index is expected to rise by 0.9% in March after a 0.3% gain in February, according to a survey compiled by Bloomberg, with higher gasoline prices due to the conflict in Iran the key factor. Not only are gasoline pump prices expected to rise, but other categories that rely heavily on energy, such as airfares, are expected to see a large push higher.
The third estimate of Q4 GDP showed a 0.5% gain, revised down from a 0.7% increase in the previous estimate. Personal spending is now reported up 1.9% after a 2.0% increase in the advance estimate. There were upward revisions to nonresidential fixed investment and government spending that were offset by downward adjustments to residential fixed investment and private inventories.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each adding about 0.5%. The Philadelphia Housing Index was climbing 1.6%, and the State Street Real Estate Select Sector SPDR ETF was up 1.5%. Bitcoin rose 2% to $72,484, and the yield for 10-year US Treasuries was decreasing 2.8 basis points to 4.26...
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each adding 0.5%. The Philadelphia Housing Index was climbing 1.6%, and the State Street Real Estate Select Sector SPDR ETF was up 1.5%. Bitcoin rose 2% to $72,484, and the yield for 10-year US Treasuries was decreasing 2.8 basis points to 4.26%. In ...
Weekly applications for unemployment insurance in the US rose more than expected, while continuing claims reached the lowest level since May 2024, government data showed Thursday. For the week through April 4, the seasonally adjusted number of initial claims increased by 16,000 to 219,000 from the previous week's average that was adjusted upwards by 1,000, the Department of Labor said.
US inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict. The personal consumption expenditure price index rose 0.4% month over month in February following a 0.3% gain in the prior month, the Bureau of Economic Analysis reported Thursday.
The Federal Reserve Board said Thursday it has terminated a 2018 cease-and-desist order against Goldman Sachs (GS), effective March 25, after the firm addressed regulatory concerns. The Fed also ended a 2015 enforcement action against Credit Agricole and its corporate and investment banking unit, as well as a 2018 order against Mega International Commercial Bank, including its US branches.
US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg as of 7:35 am ET. GDP rose by 4.4% in Q3. Personal consumer expenditures were revised lower to a 1.9% gain from the 2.0% increase in the second estimate and were below a 3.5% gain in Q3.
US initial jobless claims rose to a level of 219,000 in the week ended April 4 from an upwardly revised 203,000 level in the previous week, compared with expectations for a smaller increase to 210,000 in survey of analysts compiled by Bloomberg. The four-week moving average increased by 1,500 to 209,500 after decreasing by 2,750 to a level of 208,000 in the previous week.
CoreWeave (CRWV) said Thursday it intends to offer $3.0 billion aggregate principal amount of its convertible senior notes due 2032 in a private offering. The company said it plans to grant initial buyers of the notes an option to purchase, for settlement within a 13-day window beginning on, and including, the date on which the notes are first issued, up to an additional $450 million of notes.
The US dollar was mixed against its major trading partners early Thursday -- up versus the yen and Canadian dollar, down versus the euro and pound -- ahead of a busy day of data releases, starting with weekly jobless claims, the third estimate of Q4 GDP, and personal income, spending and price data, all at 8:30 am ET.
The Federal Reserve should be "nimble" in adjusting monetary policy in light of heightened risks to inflation and employment driven by the Middle East conflict, minutes from the central bank's March 17-18 meeting showed Wednesday.
Financial stocks rose late Wednesday afternoon, with the NYSE Financial Index rising 2.8% and the State Street Financial Select Sector SPDR ETF adding 2.4%. The Philadelphia Housing Index gained 4.4%, and the State Street Real Estate Select Sector SPDR ETF added 1.7%. Bitcoin was up 3.5% at $71,297, and the yield for 10-year US Treasuries fell 5.2 basis points to 4.29%. In economic news, Federa...
Financial stocks climbed in late Wednesday afternoon trading, with the NYSE Financial Index rising 2.8% and the State Street Financial Select Sector SPDR ETF adding 2.4%. The Philadelphia Housing Index gained 4.4%, and the State Street Real Estate Select Sector SPDR ETF advanced 1.7%. Bitcoin was declining 1% to $71,190, and the yield for 10-year US Treasuries fell 5.2 basis points to 4.29%. In...
Federal Open Market Committee participants emphasized the need to remain "nimble" in responding to incoming data, with views still mixed on the future policy path, minutes of the March 17-18 FOMC meeting released Wednesday showed.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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