Weekly applications for unemployment insurance in the US declined, while a four-week average of continuing claims remained at their highest level since November 2021, the Department of Labor said Wednesday. The seasonally adjusted number of initial claims decreased by 5,000 to 245,000 for the week ended June 14, government data showed, in line with a Bloomberg-compiled consensus.
Boralex (BRLXF) had its price target increased to C$43 from $42, while its Outperform rating remained unchanged, in a Wednesday note from National Bank of Canada. The higher price target comes after the company outlined its financial targets for 2030, including a 8%-10% compounded annual growth rate.
Bank of Canada Governor Tiff Macklem speaks on 'tariffs, trade, employment and inflation' and will offer a press conference on Wednesday, noted Scotiabank. The speech will be released at 11:15 a.m. ET and the press conference will be held by around 12:40 p.m. ET, said the bank.
Gold held steady early on Wednesday ahead of the afternoon end of the two-day meeting of the Federal Reserve's policy committee that is widely expected to leave interest rates unchanged. Gold for August delivery was last seen down US$1.90 to US$3,405.00 per ounce. The CME FedWatch tool sees an 99.9% probability the Federal Open Market Committee will leave rates unchanged.
US equity futures were little changed before Wednesday's opening bell as traders looked ahead to the Federal Reserve's rate decision. Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures were 0.1% higher, and Nasdaq futures were up 0.2%. The Federal Open Market Committee is scheduled to release a monetary policy statement at 2 pm ET at the conclusion of its two-day meeting.
May housing starts fell by 9.8% from the previous month to a 1.256 million annual rate, below expectations compiled by Bloomberg as of 7:30 am ET for a 1.35 million rate after an increase to a 1.392 million pace in April. Building permits decreased by 2% to a 1.393 million rate in May, below the 1.42 million rate expected and following a decline to a 1.422 million rate in April.
US initial jobless claims fell to a level of 245,000 in the employment survey week ended June 14 from an upwardly revised 250,000 level in the previous week, as expected in survey of analysts compiled by Bloomberg as of 7:30 am ET. Initial claims were at a level of 226,000 in the employment survey week ended May 17.
US equity futures were cautiously higher pre-bell Tuesday ahead of the Federal Reserve's rate decision. Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures were 0.2% higher, and Nasdaq futures were up 0.2%. The Federal Open Market Committee is scheduled to release a monetary policy statement at 2 pm ET at the conclusion of its two-day meeting.
The US dollar fell against its major trading partners early Wednesday, except for a gain versus the Canadian dollar, ahead of a busy morning of data releases and the Federal Open Market Committee's statement at the conclusion of its two-day interest rate policy setting meeting in the afternoon.
European bourses tracked lower midday Wednesday as traders awaited updates from the Middle East conflict, and a rate decision later in the day by the US Federal Reserve. Tech stocks led decliners, while bank issues held firm. Investors also eyed flat Wall Street futures, and choppy closes overnight on Asian exchanges.
Wall Street futures pointed largely sideways pre-bell Wednesday, as traders mulled Middle East tensions and awaited fresh clues from the nation's central bank. In the futures, the S&P 500, the Nasdaq and the Dow Jones all hewed close to Tuesday's closes. The Federal Reserve at 2 pm ET will announce changes in monetary policy, although none are expected.
The krona languishes in G10 early Wednesday after Sweden's Riksbank cut rates by 25bp to 2.0% and signalled another reduction is probable this year, said Societe Generale. The central bank says that weaker demand in the economy is expected to contribute to inflation being lower going forward than in the most recent forecast, noted SocGen.
Whitecap Resources (SPGYF) overnight Tuesday priced an offering of $300 million of 3.761% senior unsecured notes due June 19, 2028. Proceeds will be used to repay existing debt and for general corporate purposes. DBRS recently upgraded Whitecap's credit rating to BBB, with a stable trend. Shares of the company closed up 3.4% to $9.57 on Tuesday on the Toronto Stock Exchange.
Higher than expected United Kingdom inflation of 3.4% year over year in April, while the Bloomberg consensus was 3.3% indicates that there is sufficient demand in the economy for companies to pass on the steep rise in their costs due to the April hikes in tax and minimum wage onto customers, said Berenberg.,With cost-push inflation likely to keep CPI inflation around 3.5% for the rest of the ye...
Ursula von der Leyen, the President of the European Commission, has criticized China for its export restrictions on vital raw materials used in the production of cars, batteries, and wind turbines. What Happened:?Von der Leyen, during?a session on the global?economy at the G7 summit?in Kananaskis, Canada, on Monday, condemned China for using subsidies to bolster its companies,?Politico?reported.
Elon Musk?s?AI venture,?xAI, is reportedly on the brink of securing?a $5 billion debt raise, led by?Morgan Stanley, despite modest investor interest. What Happened:?The $5 billion debt offering?comprising a floating-rate term loan, a fixed-rate loan, and secured bonds?is scheduled to be allocated to investors on Wednesday, reported Reuters, citing sources.
Enterprise Products Partners (EPD) said late Tuesday its unit, Enterprise Products Operating, has priced a public offering of three senior notes totaling $2 billion.
ARC Resources (AETUF) after close of trade Tuesday closed its $1-billion offering of senior unsecured notes. The notes consist of $550 million aggregate principal amount of 3.577% Senior Unsecured Notes, Series 3 due 2028 and $450 million aggregate principal amount of 4.409% Senior Unsecured Notes, Series 4 due 2032.
Dime Community Bancshares, Inc. (DCOM), the parent company of Dime Community Bank, announced that Kroll Bond Rating Agency, in a report dated June 17, 2025, revised its ratings outlook from ?Stable? to ?Positive.
Kite Realty Group Trust (KRG) announced today that, on June 17, 2025, its operating partnership, Kite Realty Group (KRG), L.P., priced an offering of $300 million aggregate principal amount of 5.200% Senior Notes due 2032 in an underwritten public offering. The Operating Partnership intends to use the net proceeds from this offering to repay outstanding indebtedness and for general corporate purposes.
Rithm Capital (RITM) said Tuesday it priced a $500 million offering of 8% senior unsecured notes due 2030. The company plans to use part of the net proceeds to redeem its outstanding 6.250% senior unsecured notes due 2025, with the remainder to be used for general corporate purposes, which may include repaying other debt. The offering is expected to close on Friday, according to the company.
"We expect no change to rates but [for the Federal Open Market Committee] to continue to signal that rate cuts should still be expected," said Cooper Howard, a fixed income strategist at Charles Schwab.
Industrial production in the US unexpectedly fell last month as utilities' output declined, data from the Federal Reserve showed Tuesday. Industrial output contracted by 0.2% in May following upwardly revised 0.1% growth in the month prior. The index for utilities fell 2.9% sequentially, driven by declines in the output of power companies.
Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.9% and the Financial Select Sector SPDR Fund shedding 0.6%. The Philadelphia Housing Index was falling 2.4%, and the Real Estate Select Sector SPDR Fund was down 0.7%. Bitcoin was declining 1.9% to $104,817, and the yield for 10-year US Treasuries was off 6 basis points to 4.39%. In economic news...
Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.9% and the Financial Select Sector SPDR Fund shedding 0.6%. The Philadelphia Housing Index was falling 2.4%, and the Real Estate Select Sector SPDR Fund was down 0.7%. Bitcoin was declining 1.9% to $104,817, and the yield for 10-year US Treasuries was off 6 basis points to 4.39%. In economic news...
The Federal Open Market Committee is overwhelmingly expected to maintain the range for its federal funds rate at the current 4.25% to 4.50% due to continued economic uncertainty, putting the focus on the updated Summary of Economic Projections. Currently, the CME's FedWatch Tool sees a 99.9% chance of no change to the current target rate range.
A former Bank of England economist is raising red flags over the growing role of stablecoins in the U.S. financial system, with major implications for banks, as well as the U.S. Dollar.
Financial stocks were lower in Tuesday afternoon trading, with the NYSE Financial Index down 0.6% and the Financial Select Sector SPDR Fund shedding 0.5%. The Philadelphia Housing Index was falling 1.9%, and the Real Estate Select Sector SPDR Fund was down 0.3%. Bitcoin was declining 3.9% to $104,055, and the yield for 10-year US Treasuries was dropping 5.3 basis points to 4.40%. In economic ne...
Financial stocks were lower in Tuesday afternoon trading, with the NYSE Financial Index down 0.6% and the Financial Select Sector SPDR Fund shedding 0.7%. The Philadelphia Housing Index was falling 1.9%, and the Real Estate Select Sector SPDR Fund was down 0.3%. Bitcoin was declining 3.9% to $104,055, and the yield for 10-year US Treasuries was dropping 5.3 basis points to 4.40%. In economic ne...
Canada's economy got off to a slightly stronger start to 2025, but few forecasters are upgrading their outlook, said TD. The "dark shadow" cast by United States tariffs on Canada's business environment is expected to lead the economy to contract through the middle of this year and send the unemployment rate to its highest level since 2012, wrote the bank in a note to clients.
The Federal Reserve is widely expected to hold rates steady at 4.25%-4.50% on Wednesday as President Donald Trump's volatile tariff policy clouds the economic outlook. The decision will mark the fourth straight pause in the rate-cutting cycle that began in September. Chair Jerome Powell and his colleagues have consistently repeated since May that monetary policy is "in a good place."
US retail sales fell more than market expectations in May amid declines in purchases of motor vehicles and building materials, data from the Census Bureau showed Tuesday. Sales were 0.9% lower last month following April's 0.1% decline, which was revised from the initially reported 0.1% increase. Spending on motor vehicles and parts declined 3.5% after a 0.6% drop in April.
Member Impact Fund Grant Program Supports Affordable Housing and Community Development? ? ??. TopLine Financial Credit Union, a Twin Cities-based member-owned financial services cooperative, in partnership with Federal Home Loan Bank of Des Moines, is pleased to announce that four Minnesota community non-profit organizations will each receive a $10,000 grant from the Member Impact Fund, for a t...
The Bank of Japan held its policy rate at 0.5% at its overnight Monday policy meeting, said Societe Generale. On the other hand, the review of the Japanese government bond buying Rinban operation review concluded that the ongoing reduction of purchases by 400 billion yen per quarter will be maintained until Q1 2026. Following this, the reduction amount will slow to 200 billion yen per quarter.
National Bank of Canada maintained its outperform rating and $14.50 price target on the shares of Hudbay Minerals (HBM) after the miner restarted its Manitoba operations that were suspended due to wildfires. Hudbay on Monday said it resumed operations at its Snow Lake complex in the province after the lifting of evacuation orders for the region on June 14.
The Bank of Canada will release at 1:30 p.m. ET on Tuesday its Summary of Deliberations on the discussions leading up to the June 4 decision to hold the policy rate, noted Scotiabank. Key may be any further clarity around forward guidance, said the bank. If that isn't shared, then it may be in BoC Governor Tiff Macklem's speech on Wednesday, stated Scotiabank.
In the first quarter of this year, 18.6% of new-issue volume in the market was traded electronically, up from 17.3% last year, according to data from Coalition Greenwich.
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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