US benchmark equity indexes ended higher on Thursday amid growing investor expectations of three interest-rate cuts by year-end. * Media reports claimed that US President Donald Trump could announce the next Federal Reserve chair as early as September, which added pressure on the dollar. * The US dollar fell on Thursday amid continued stability in the Middle East.
Investors added $79.6 million to municipal bond mutual funds in the week ended Wednesday, following?$110 million of inflows the prior week, according to LSEG Lipper data.
US durable goods orders increased more than expected in May, buoyed mainly by robust demand for commercial planes, government data showed Thursday. Orders for tangible items with an average life of at least three years rose 16% sequentially to about $343.59 billion last month, the Census Bureau said. The consensus was for an 8.5% increase in a survey compiled by Bloomberg.
The Federal Home Loan Bank of San Francisco today announced a $52.6 million investment in a Fannie Mae bond issuance that will support the continuing affordability of 230 housing units for very low-income residents living near Fisherman?s Wharf in San Francisco.
Financial stocks rose in late Thursday afternoon trading with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund up 0.7%. The Philadelphia Housing Index gained 0.6%, and the Real Estate Select Sector SPDR Fund fell 0.7%. Bitcoin fell 0.3% to $107,417, and the yield for 10-year US Treasuries declined 3.8 basis points to 4.26%. In economic news, The Wall Street Journal...
Financial stocks were rising in late Thursday afternoon trading, with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund up 0.6%. The Philadelphia Housing Index was increasing 0.6%, while the Real Estate Select Sector SPDR Fund was falling 0.9%. Bitcoin fell 0.3% to $107,417, and the yield for 10-year US Treasuries declined 4 basis points to 4.25%. In economic news, ...
Richmond Fed President Tom Barkin said that he expects upward pressure on prices due to tariffs but said that monetary policy is well positioned to deal with the impact. Fed Governor Michael Barr repeated that there is uncertainty about tariff effects but noted that monetary policy is "well positioned" to allow the Federal Open Market Committee time to see how those effects unfold.
Soon after it sold $687.3 million of bonds, Chicago returned to market with $82.55 million for housing and economic development in a deal set to close Monday.
The third estimate of Q1 GDP showed a 0.5% decline, a downward revision from a 0.2% drop in the previous estimate, with consumption revised lower. There were upward revisions to net exports and government spending, but downward revisions to residential fixed investment and private inventories.
Hays County's Nov. 5 election for nearly $440 million of bonds, which won voter approval, was voided by a state judge due to an open meetings act violation.
US benchmark equity indexes were higher intraday amid a report that President Donald Trump is considering naming a replacement for Federal Reserve Chair Jerome Powell earlier than usual. The Dow Jones Industrial Average and the Nasdaq Composite were up 0.8% each at 43,330.7 and 20,136.6, respectively, after midday Thursday.
Gold edged higher mid-afternoon 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$3.90 to US$3,347.00 per ounce.
Financial stocks were rising in Thursday afternoon trading, with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund up 0.6%. The Philadelphia Housing Index was increasing 0.4%, and the Real Estate Select Sector SPDR Fund was shedding 0.6%. Bitcoin was slightly higher at $107,309, and the yield for 10-year US Treasuries was down 3.4 basis points at 4.26%. In economic ...
National Bank of Canada maintained its outperform rating and C$5.00 price target on the shares of Zedcor (ZDCAF). The bank said it hosted investor meetings in New York with Zedcor's Chief Executive Officer, Todd Ziniuk, and Chief Financial Officer Amin Ladha.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund up 0.6%. The Philadelphia Housing Index was increasing 0.2%, and the Real Estate Select Sector SPDR Fund was shedding 0.6%. Bitcoin was slightly higher at $107,309, and the yield for 10-year US Treasuries was down 3.4 basis points at 4.26%. In econom...
US equity indexes rose as growing expectations of three interest-rate cuts by year-end boosted investor sentiment, pushing government bond yields and the dollar lower after midday Thursday. The Nasdaq climbed 0.7% to 20,108.8, and the S&P 500 added 0.7% to 6,131.9, approaching their all-time highs.
Senator Joni Ernest has reintroduced the Modernizing Agricultural and Manufacturing Bonds Act, long- simmering bipartisan legislation backed by the CDFA and BDA.
Gross domestic product growth in Q1 accelerated compared with the last quarter of 2024, but this shouldn't be seen as a sign of strength for the Quebec economy, said National Bank of Canada.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.77%. ?Borrowers should find comfort in the stability of mortgage rates, which have only fluctuated within a narrow 15-basis point range since mid-April.
National Bank of Canada maintained an outperform rating and C$6.50 price target on the shares of Tamarack Valley Energy (TNEYF), as the bank provided highlights for the company's Wednesday investor day.
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.
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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