Manufacturing activity in the US Mid-Atlantic region remained in contraction territory in June, while the employment gauge reached its lowest level since May 2020, a survey from the Federal Reserve Bank of Philadelphia showed Friday.
The Internal Revenue Service and the University of Rhode Island appear to have settled an inquiry by the agency regarding the tax status of higher education facility revenue bonds issued in 2018.
The S&P 500 and Nasdaq were up, while the Dow Jones Industrial Average was down in late-morning trading Friday after Federal Reserve Governor Christopher Waller told CNBC the central bank could rates as early as July. In company news, GMS confirmed Thursday it received an unsolicited proposal from QXO to acquire the company for $95.20 per share.
National Bank of Canada resumed coverage of Keyera (KEYUF) with a sector-perform rating on the company's shares while raising its price target to $45.00 from $43.00 after the oil and gas processing and infrastructure company agreed to acquire the Canadian assets of Plains All American Pipeline for $5.15 billion and closed an offering of subscription receipts.
The St. Petersburg International Economic Forum 2025, held in Russia from June 18 to 21, began with a high-level session titled *"Shaping a New Platform for Global Growth." The session marked the presentation of the final report from the International Open Dialogue of the Russia National Centre and featured expert insights into global economic and geopolitical shifts.
Brazil's central bank unexpectedly raised the policy rate by 25bps to 15.0% on Wednesday, noted Societe Generale. The BCB also signaled a pause in its tightening cycle to evaluate the cumulative impact of past hikes, but warned it is prepared to raise rates further if necessary, wrote the bank in a note to clients.
Washington and Oregon are still nailing down the final cost and toll rates for the long-planned replacement for the aging spans carrying I-5 across the river.
The US dollar was mixed against its major trading partners early Friday -- up versus the yen and Canadian dollar, down versus the euro and pound -- following Thursday's holiday. The Philadelphia Federal Reserve's manufacturing reading for June is due to be released at 8:30 am ET, followed by leading indicators data at 10:00 am ET.
Cook County faces a general fund budget gap of $102.6 million in 2026, and many grants are at risk under the new White House and Republican-controlled Congress.
Cargojet (CGJTF) overnight Thursday said Morningstar DBRS assigned the company an investment-grade credit rating of BBB with a stable trend. Morningstar cited its contracted recurring revenue profile, efficient operations, leading market position in the Canadian domestic overnight air cargo market, and commitment to maintaining leverage within its publicly stated target range.
The Bank of England on Thursday decided to leave the Bank Rate unchanged at 4.25%, as expected, said UBS. The decision was supported by six Monetary Policy Committee members, with three voting for a 25bps rate cut. Following Thursday's pause, UBS expects the BoE to resume cutting on Aug. 7, followed by another 25bps rate reduction on Nov. 6, bringing Bank Rate to 3.75% by end 2025.
Franklin BSP Realty Trust (FBRT) said Friday that its operating FBRT OP operating partnership has issued $107 million worth of unsecured senior notes in a private offering. The offering consists of $82 million of 8.25% unsecured senior notes due 2030 and $25 million of floating rate unsecured senior notes due 2028, with an initial coupon of about 8.33%, the company said.
The Swiss central bank cut its key policy rate by 25bps on Thursday, noted MUFG. The market was priced for some risk that the SNB could cut by a larger 50bps but the SNB kept to a more cautious path despite the fact that the SNB has by some distance under-estimated the speed in which inflation has fallen, wrote the bank in a note to clients.
Societe Generale in its early Friday economic news summary pointed out: -- Oil prices, US dollar retreat after President Trump gives Iran two weeks to negotiate end to the conflict with Israel. -- Japan May headline consumer price index dips to 3.5% year over year from 3.6% in April. -- U.K. retail sales plummet 2.7% month over month in May, the decline is first in five months.
The CNN Money Fear and Greed index was in the ?Neutral? zone on Wednesday. U.S. stocks settled mixed on Wednesday, with the Dow Jones index falling around 0.1% during the session as traders weighed geopolitical uncertainty and awaited the Federal Reserve?s June policy decision. The US Federal Reserve left interest rates unchanged at its recent meeting.
Gold traded lower mid-afternoon on Thursday, a day after the Federal Reserve left U.S. interest rates unchanged but said cuts are likely coming this year.
Canada's real gross domestic product grew by a stronger-than-expected 2.2% in Q1, as firms increased exports and inventories in anticipation of new United States tariffs, said the Parliamentary Budget Officer on Thursday. The PBO, which provides independent advice to parliament, expects that Canada's real GDP will be flat in Q2.
National Bank of Canada maintained its sector-perform rating on the shares of Lithium Americas (LAC) and its $5.50 price target. National Bank said it continues to view Lithium Americas (LAC)' Thacker Pass project in Nevada as a strategically significant lithium asset with long-term value potential.
The Swiss National Bank cut its benchmark interest rate by 25 basis points to 0% on Thursday, marking the lowest level since 2022 and amplifying the gap between U.S. and Swiss rates to record highs. The move pushes the gap between the U.S. federal funds rate upper bound and Switzerland's rate to 4.5 percentage points?the largest differential on record.
The Bank of England left rates unchanged on Thursday, as expected, sai MUFG. The six-to-three vote split was in line with the bank's expectations but more dovish than the consensus.
Whitecap Resources (SPGYF) on Thursday said it successfully closed the previously announced offering of $300 million of senior unsecured notes due June 19, 2028. The company said the notes will bear interest at a fixed rate of 3.761% per annum. Whitecap Resources (SPGYF) added that these notes were assigned a rating of BBB, with a stable trend, by Morningstar DBRS.
The central bank of Botswana on Thursday said its Monetary Policy Committee decided to maintain the Monetary Policy Rate at 1.90%. MT Newswires does not provide investment advice.
Turkey's central bank on Thursday said its Monetary Policy Committee kept the policy one-week repo auction rate at 46.0%, as expected. The MPC has also maintained the Central Bank overnight lending rate and the overnight borrowing rate at 49.0% and 44.5%, respectively, noted CBT.
The Riksbank cut its policy rate by 25bp to 2.0% on Wednesday as the central bank set a slightly accommodative policy stance on the back of a stalling Swedish growth recovery, said UBD. The Risksbank revised down its growth and inflation forecast.
ING said it agrees with the market consensus calling for a hold by Norges Bank at Thursday's policy meeting. The bank had previously been major subscriber of a June cut before reluctantly aligning with consensus and pricing last week on the view that Norges Bank didn't want to surprise markets.
Sterling has been trading on a softer footing heading into this week's Bank of England Monetary Policy Committee meeting, said MUFG. The BoE will release the policy decision at 7 a.m. ET Thursday. EUR/GBP has risen for seven consecutive trading days while cable's upward momentum has stalled just below the 1.3600 level.
The Global Investment Forum for Peace & Prosperity was officially held at the InterContinental Hotel in Bangkok, Thailand, bringing together nearly 300 delegates from 14 countries and territories.
Economist Peter Schiff issued warnings about America?s economic trajectory during Wednesday?s Federal Reserve meeting, predicting the central bank?s decade-long policies will trigger an unavoidable crisis worse than 2008.
More than 200 Central banks and foreign entities have withdrawn a substantial amount of U.S. Treasuries from the New York Federal Reserve, signaling potential concerns over the stability of the U.S. dollar. What Happened: The New York Fed?s custody holdings of U.S. Treasuries and other assets have seen a significant decline.
The Federal Reserve left its benchmark rate unchanged at 4.25%-4.50% for a sixth straight meeting and Chair Jerome Powell signaled no near-term cuts despite mounting White House pressure. While traders still price in two quarter-point reductions later this year, the Fed's pause keeps borrowing costs and deposit payouts locked near current levels across the economy.
The?Las Vegas Global Economic Alliance? has announced Danielle Casey as its new President & CEO. ?We are thrilled to welcome Danielle Casey as the new CEO of LVGEA,??said Lauri Perdue,?chairwoman of?Las Vegas Global Economic Alliance.
US equities closed mixed Wednesday as the Federal Reserve kept its benchmark rate unchanged and stuck to its policy rate outlook for 2025. The Nasdaq Composite was up 0.1% at 19,546.3, while the Dow Jones Industrial Average fell 0.1% to 42,171.7. The S&P 500 was little changed at 5,980.9. Most sectors ended in the red, led by energy, while technology saw the biggest gain.
US benchmark equity indexes closed mixed on Wednesday as the Federal Reserve kept its policy rate unchanged for a fourth straight meeting, while maintaining its federal funds rate outlook for 2025 amid higher inflation expectations.
CMS Energy (CMS) said late Wednesday it set pricing terms for its $147.1 million cash tender offer relating to 2.5% mortgage bonds due 2060. The total consideration involves early tender payments of $30 per $1,000 of bonds validly tendered and not withdrawn by holders before market close on June 17, the company said.
The FOMC's decision to "hold rates steady while signaling only two cuts this year was a subtle but powerful shift," said James Pruskowski, CIO at 16Rock Asset Management.
Federal Reserve Chair Jerome Powell defended the decision to keep interest rates unchanged on Wednesday, saying inflation has eased but not enough to warrant cuts, especially with trade and geopolitical risks clouding the outlook.
US benchmark equity indexes ended mixed Wednesday as the Federal Reserve kept its benchmark lending rate unchanged for a fourth straight meeting, while acknowledging that economic uncertainty has dropped. * The Federal Open Market Committee left interest rates in the range of 4.25% to 4.50%, in line with Wall Street's expectations.
US benchmark equity indexes are on track to close mixed on Wednesday after the Federal Reserve keeps interest rates unchanged and Chair Jerome Powell said. the effects of US tariffs on inflation are likely to be seen in the coming months.
Fannie Mae and Freddie Mac might finally be headed for an exit from government conservatorship, almost 17 years after being taken over by the federal government in the 2008 financial crisis.
JPMorgan Chase & Co (JPM) shares are trading higher Wednesday afternoon. What To Know: According to Bloomberg, the Federal Reserve, FDIC and OCC are set to lower the enhanced supplementary leverage ratio, a key capital buffer. This easing of regulations, which Bloomberg reports will be discussed at a Federal Reserve meeting on June 25, is seen as a major victory for Wall Street.
The Federal Reserve on Wednesday kept its policy rate unchanged for a fourth straight meeting, while sticking to its federal funds rate outlook for 2025 amid higher inflation expectations. The Federal Open Market Committee left interest rates in the range of 4.25% to 4.50%, in line with Wall Street's expectations. President Donald Trump has been repeatedly urging the Fed to cut rates.
There have been few signs that tariffs are pushing up inflation at this point, but the effects are likely to be seen in the coming months, Federal Reserve Chairman Jerome Powell said Wednesday in a press conference after the FOMC voted to maintain the target range for the federal funds rate at 4.25% to 4.50%. "It takes some time for tariffs to work their way through the chain of distribution to...
Homebuilder ETFs posted modest gains Wednesday after a slight uptick in housing starts, but the rally may prove short-lived. During Wednesday afternoon trading, both the iShares U.S. Home Construction ETF (ITB) and the SPDR S&P Homebuilders ETF gained over 1%. Markets are possibly applauding May?s 0.4% increase in single-family housing starts.
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.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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