Weekly applications for unemployment insurance in the US declined more than expected, while continuing claims reached their highest level since November 2021, government data showed Thursday. The seasonally adjusted number of initial claims fell by 10,000 to 236,000 for the week ended June 21, according to the Department of Labor.
The US economy contracted more than previously estimated in the first quarter as consumer spending weakened, a final estimate released Thursday by the Bureau of Economic Analysis showed. Real gross domestic product in the world's largest economy shrank at a 0.5% annualized rate in the March quarter, worse than the 0.2% decline projected earlier.
National Bank of Canada reiterated its outperform rating on the shares of Alamos Gold (AGI) while raising its price target to $52.25 from $51.75 after the company released a new life of mine plan for its Island Gold complex in Ontario. National Bank recently attended a tour of Alamos's Island gold district.
The Kansas City Fed monthly manufacturing index rose to a reading of minus 2 in June from minus 3 in May, compared with expectations for a decrease to a minus 5 print in a survey compiled by Bloomberg as of 7:45 am ET.
While an end to tariff uncertainty with the United States is good news for both the economy and investors, economists say it could also result in less aggressive interest rate cuts from the Bank of Canada, noted Morningstar. A growing number of economists have already recalibrated their expectations, predicting two more cuts by year-end instead of three, said Morningstar.
Pembina Pipeline's (PBA) stock rating was upgraded to Outperform from Sector Perform while its C$56 price target remained unchanged "as energy security tailwinds strengthen", National Bank of Canada said in a Wednesday note.
Canada's "other" employment report continues to point to a weaker labor market than the more commonly followed Labour Force Survey, supporting the case for more interest rate cuts, said CIBC. Statistics Canada's Survey of Employment, Payrolls and Hours on Thursday posted a 6,000 decline in April, following a revised 21,000 drop, which previously was 54,000, in the prior month.
Gold edged higher early on Thursday as the dollar fell to the lowest in more than three years on expectations the Federal Reserve will move to cut interest rates this year despite concerns over the central bank's independence amid attacks from U.S. President Donald Trump. Gold for August delivery was last seen up US$13.10 to US$3.356.20 per ounce.
US economic growth, measured by gross domestic product, was revised down to a 0.5% decrease in Q1 from a 0.2% drop in the previous estimate, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:45 am ET. GDP rose by 2.4% in Q4.
US initial jobless claims fell to a level of 236,000 in the week ended June 21 from an upwardly revised 246,000 level in the previous week, compared with expectations for a small decrease to 243,000 in survey of analysts compiled by Bloomberg as of 7:45 am ET. The four-week moving average fell by 750 to 245,000 after rising by 5,000 to a level of 245,750 in the previous week.
Societe Generale said it expects Mexico's central bank to deliver its fourth straight policy rate cut of 50bps and lower the key overnight policy rate to 8.0% on Thursday.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust advanced 0.5% in Thursday's premarket activity, after chipmaker Micron's upbeat forecast and speculations of potential Fed chair nominations.
The first public bond issue from Everglades College, Inc., will finance projects on the institution's Keiser University flagship campus in West Palm Beach.
Veriff, a global AI-native identity company powering trust infrastructure online, today announced the appointment of Carly Brantz as Chief Marketing Officer. Brantz joins Veriff at a pivotal time, as the company grows at an accelerating rate of 100% year-over-year and expands beyond financial services with recent customer wins including Uber and Bumble.
The US dollar fell against its major trading partners early Thursday before a busy economic data release schedule as President Donald Trump suggested he will name Federal Reserve Chairman Jerome Powell's successor later this year, well ahead of Powell's expected departure in May 2026.
European bourses tracked moderately higher midday Thursday as traders monitored Middle East news, and reports that US President Donald Trump plans for a more-dovish central banker to succeed Federal Reserve Chair Jerome Powell, whose term expires next May. Property, oil and retail stocks led gainers, while tech issues lagged.
Wall Street futures pointed moderately higher pre-bell Thursday amid media reports that President Donald Trump may soon announce his pick to replace outgoing Federal Reserve Chair Jerome Powell. The Fed chief is not slated to leave office until May of next year, but Trump's nominee might influence markets by playing the role of a more-dovish "shadow banker," while in waiting.
US equity markets were trending upwards before Thursday's opening bell as traders digest Federal Reserve Chair Jerome Powell's latest remarks and President Trump's comments on the monetary policy chief, while also looking out to some key economic data.
The Bank of Thailand left its policy rate unchanged at 1.75% in a 6-1 vote on Wednesday, in line with consensus expectations but against Nomura's forecast of a 25bps cut. The policy statement stressed the BoT's concerns about "limited policy space" and as such, the importance of the "timing and effectiveness" of the cut.
Asian stock markets turned in a choppy Thursday as traders weighed tech values in New York, central bank tightening in Hong Kong, and kept an eye on Middle East conflicts. Tokyo finished in the green, while Hong Kong and Shanghai lagged. In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 1.7% as tech shares followed overnight gains of peers on Wall Street.
Golar LNG said Thursday it priced a private placement of $500 million of its 2.75% convertible senior unsecured notes due Dec. 15, 2030. Initial purchasers have a 30-day option to buy up to an additional $75 million of the notes. The company expects the offering to close Monday and plans to use the net proceeds to repurchase 2.5 million common shares and for general corporate purposes.
Societe Generale in its early Thursday economic news summary pointed out: -- US dollar gaps down for the second time this week as two- and 10-year United States Treasury yields extend below technical support of 3.80% and 4.29%. DXY plummets to 97.60, lowest since February 2022.
Delek Logistics Partners (DKL) said late Wednesday it priced an upsized offering of $700 million of 7.375% senior notes due 2033 at par. The company expects the offering to close Monday and plans to use the net proceeds to repay part of the outstanding borrowings under its revolving credit facility. MT Newswires does not provide investment advice.
US equities closed mixed Wednesday as investors assessed latest comments by Federal Reserve Chair Jerome Powell, while chipmaking giant Nvidia (NVDA) rose to a record high. The Dow Jones Industrial Average fell 0.3% to 42,928.4, after a three-day winning streak. Most sectors ended in the red, led by real estate, while technology saw the biggest gain.
US benchmark equity indexes closed mixed on Wednesday, after Federal Reserve Chair Jerome Powell hinted at upcoming inflationary pressure due to tariffs. The Nasdaq was up 0.3% to 19,973.55 while the S&P 500 was unchanged at 6,092.16. The Dow Jones Industrial Average fell 0.3% to 42,982.43. Among sectors, technology led the gainers, and real estate had the steepest decline.
Freddie Mac today posted to its website its Monthly Volume Summary for May 2025, which provides information on Freddie Mac?s mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities and other investments. Freddie Mac?s mission is to make home possible for families across the nation.
The Trump appointee overseeing the nation's housing agencies said Freddie Mac and Fannie Mae should take mortgage applicants' Crypto (CRCW) holdings into account.
Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index decreasing 0.7% and the Financial Select Sector SPDR Fund losing 0.4%. The Philadelphia Housing Index dropped 1.7%, and the Real Estate Select Sector SPDR Fund slid 2.3%. Bitcoin increased 1.6% to $107,717, and the yield for 10-year US Treasuries was little changed at 4.29%. In economic news, the possibility...
Financial stocks were declining in late Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the Financial Select Sector SPDR Fund down 0.4%. The Philadelphia Housing Index was falling 1.6%, and the Real Estate Select Sector SPDR Fund was dropping 2.1%. Bitcoin was increasing 1.6% to $107,717, and the yield for 10-year US Treasuries was steady at 4.29%. In economic new...
Fed Chairman Jerome Powell delivered a second day of testimony, repeating much of what he said in the previous day about the need for patience regarding monetary policy changes due to the uncertainty from tariffs.
US benchmark equity indexes were mixed intraday as markets parsed latest remarks by Federal Reserve officials, including by Chair Jerome Powell. The Dow Jones Industrial Average was down 0.4% at 42,903.2 after midday Wednesday, while the S&P 500 dropped 0.1% to 6,087.5. The Nasdaq Composite rose 0.2% to 19,946.
Gold edged down up mid--afternoon on Wednesday as the dollar steady on Federal Reserve Chair Jerome Powell's second day of congressional testimony. Gold for August delivery was last seen up US$9.20 to US$3,343.10 per ounce. Powell will appear before the Senate Banking Committee after speaking to the House Financial Services Committee on Tuesday.
Financial stocks were declining in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the Financial Select Sector SPDR Fund down 0.3%. The Philadelphia Housing Index was falling 1.8%, and the Real Estate Select Sector SPDR Fund was dropping 1.4%. Bitcoin was increasing 1.4% to $107,279, and the yield for 10-year US Treasuries was rising 1.9 basis points to 4.31%. In ...
Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the Financial Select Sector SPDR Fund down 0.4%. The Philadelphia Housing Index was falling 2%, and the Real Estate Select Sector SPDR Fund was dropping 1.4%. Bitcoin was increasing 1.1% to $107,229, and the yield for 10-year US Treasuries was rising 2 basis points to 4.31%. In economic...
Canadian CPI data released this week showed a 10.1% decline in the air transportation component but fuel prices are also down ~20% impacting airfares, notes Stifel Canada's Daryl Young.
National Bank of Canada on Tuesday maintained an outperform rating and C$29.00 price target on the shares of Spin Master (SNMSF), as the bank provided second quarter earnings preview for the company. The bank expects gross product sales to rise 2.6% to US$395 million in the second quarter, total revenue to rise 5% to US$433 million and adjusted EBITDA to fall 15.5% to US$45 million.
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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