Prominent economist Mohamed El-Erian warns that the United States? recent economic behavior is creating instability, not just at home, but across global markets.
U.S. stocks traded mostly flat on Monday as investors reacted to President Donald Trump?s announcement of a 30% tariff on all imports from the EU and Mexico, effective August 1. Inflation worries ahead of Tuesday's CPI data also weighed on sentiment.
US benchmark equity indexes closed higher on Monday as investor look ahead to key inflation and producer data expected later in the week. The Nasdaq was up 0.3% to 20,640.33 while the S&P 500 increased 0.1% to 6,268.56. The Dow Jones Industrial Average gained 0.2% to 44,459.65. Among sectors, communications led the gainers while energy saw the steepest decline.
Exxon Mobil Corp (XOM) shares fell Monday afternoon as broader market sentiment wavers following President Donald Trump?s announcement of a 30% tariff on all imports from the European Union and Mexico, effective Aug. 1. This news, coupled with inflation concerns ahead of Tuesday?s CPI release, is impacting investor confidence across sectors, with energy stocks particularly lagging.
Financial stocks rose in late Monday afternoon trading with the NYSE Financial Index gaining 0.5% and the Financial Select Sector SPDR Fund climbing 0.7%. The Philadelphia Housing Index fell 0.6%, while the Real Estate Select Sector SPDR Fund advanced 0.6%. Bitcoin rose 0.6% to $119,651, and the yield for 10-year US Treasuries was little changed at 4.427%. In economic news, the EU warned of nec...
Financial stocks were rising in late Monday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.6%. The Philadelphia Housing Index was down 0.6%, while the Real Estate Select Sector SPDR Fund was up 0.5%. Bitcoin was increasing 0.6% to $119,651, and the yield for 10-year US Treasuries was slightly higher at nearly 4.43%. In economic news, the...
"We supported the approved rule change and are extremely disappointed that the MSRB is now proposing to halt the progress it had been making toward full and complete transparency in the municipal securities market," Dimensional Fund Advisors officials said in a letter.
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund ahead 0.7%. The Philadelphia Housing Index was down 0.9%, and the Real Estate Select Sector SPDR Fund was adding 0.4%. Bitcoin was increasing 1.2% to $120,419, and the yield for 10-year US Treasuries was slightly higher at 4.43%. In economic news, the ...
Canadian consumer price index data for June will be updated on Tuesday at 8:30 a.m. ET, noted Scotiabank. This is one of two reports before the Bank of Canada's next decision on July 30, pointed out Scotiabank. A seasonally unadjusted gain of 0.2% month over month, which translates into 0.3% month-over-month seasonally adjusted is estimated, stated the bank.
US equity indexes traded mixed in midday trading on Monday as investors await inflation data for June and banks' quarterly earnings amid the Trump administration's trade-tariff negotiations with the largest US trading partners.
The publication of the June consumer price index report on Tuesday will be the highlight of the week in Canada, said National Bank of Canada. Gasoline prices fell during the month, which may have limited headline price growth to 0.1% month over month, noted the bank.
UBS said it changed iys European Central Bank call as it no longer expects the ECB to cut rates by 25bps to 1.75% on July 24, but now anticipates this cut to be delivered in the following meeting on Sept. 11. The bank thinks this will be the final cut of the easing cycle.
Peru's central bank left the policy rate unchanged at 4.50% last week, in line with Deutsche Bank's expectations. In BCRP's assessment of the inflation outlook remained constructive. However, the forward guidance maintained a similar tone compared with last month's policy statement, preserving the easing bias but without signaling an imminent cut, said Deutsche Bank.
Canada will release manufacturing sales for May at 8:30 a.m. ET on Tuesday, noted RBC. Canadian manufacturing sales likely dropped again in May -- down 1.3% month over month -- with the largest decreases observed in the oil and coal product subsector, the transportation equipment subsector, and the food product subsector, said the bank.
Canadian Natural Resources (CNQ) maintained its sector perform rating and $43 price target at National Bank of Canada, according to a note published Friday. The target price was based on a 2025e 6.5x EV/DACF multiple, National Bank said. Canadian Natural Resources (CNQ) hosted a site tour of its AOSP oil sands mine operation last week.
After relatively benign inflation reports throughout 2025, the June Consumer Price Index could deliver what Wall Street least expects: the return of hotter price pressures, largely fueled by tariffs. Here's what to expect on Tuesday at 8:30 a.m. ET, when the Bureau of Labor Statistics releases the much-anticipated June inflation report.
Never underestimate the typically volatile Canadian household employment survey to provide a major surprise in both directions and this time around, a shocker to the upside resulted from Friday's Labour Force Survey, said Rosenberg Research.
RBC said it expects it's likely too early to see a significant increase in prices due to tariffs in Canadian and United States inflation data for June on Tuesday. Statistics Canada will release the June consumer price index at 8:30 a.m. ET on Tuesday.
Foreign buyers purchased $56 billion worth of U.S. existing homes from April 2024 through March 2025, according to the National Association of Realtors? 2025 International Transactions in U.S. Residential Real Estate report. ?International interest in buying U.S. real estate increased following the global economic recovery from several years of pandemic-related disruptions.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood Scores, according to ICE Climate Data. A $21 million offering from North Wildwood, N.J., records a Flood Score of 5.0 out of 5.0, ICE reports.
Macy's said Monday its wholly owned subsidiary, Macy's Retail Holdings, plans to offer a private placement of $500 million in senior unsecured notes due 2033. Proceeds will be used to help fund a concurrent tender offer to redeem about $587 million of existing outstanding senior notes and debentures, and to pay fees, premiums, and expenses, the company said.
Amid all the upheaval caused by the Unite States' announcement of 35% tariffs on Canadian goods at the end of last week, Friday's Labour Force Survey report for June came as a very welcome surprise with 83,000 new jobs created and the unemployment rate fell by 0.2 percentage point, despite the participation rate rising slightly, said Commerzbank.
New York City lawmakers spent big on social services. But the budget still leaves the city exposed to cuts by the Trump administration and congressional GOP.?
Canada updates a few third-tier indicators early in the week, noted Scotiabank. General weakness is expected for wholesale trade in May, manufacturing shipments in May and housing starts for June, said the bank. MT Newswires does not provide investment advice.
CIBC noted that the most important Canadian macroeconomic data this week is Tuesday's consumer price index report for June. The bank expects CPI to be flat on the month and at 1.8% month over month.
Burford Capital (BUR) said Monday it completed a new issuance of $500 million of 7.5%, eight-year senior notes Friday. The company plans to use the net proceeds to repay bonds due in 2025 at their maturity date and the remainder for general corporate purposes. MT Newswires does not provide investment advice.
US equity investors will watch the June inflation data for signs of tariff pass-throughs alongside Q2 earnings from the big money center banks and the back-and-forth on punitive import duties hovering over Canada, the European Union and Mexico this week. * The consumer price index is due Tuesday, and the producer price index on Wednesday.
Bank of England Governor Andrew Bailey urged caution as the U.S. pushes pro-crypto policies, highlighting risks to financial stability and the nature of money.
Levi Strauss & Co. (LEVI) said Monday it has initiated a private placement of up to 475 million euros worth of senior notes due 2030. Net proceeds from the offering, along with cash on hand, will be used to redeem its 3.375% senior notes due 2027. Shares of the company declined more than 1% in recent Monday premarket trading.
Some local governments have begun formal assessments about whether electric services to their communities should be municipalized or whether their existing franchise agreements can be updated in their favor.
Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index shedding 0.9% and the Financial Select Sector SPDR Fund down 1%. The Philadelphia Housing Index was falling 1%, and the Real Estate Select Sector SPDR Fund was easing 0.2%. Bitcoin was increasing 3.4% to $117,475, and the yield for 10-year US Treasuries climbed 7.1 basis points to 4.42%. In economic news...
Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index shedding 0.9% and the Financial Select Sector SPDR Fund down 1%. The Philadelphia Housing Index was falling 1.1%, and the Real Estate Select Sector SPDR Fund was easing 0.3%. Bitcoin was increasing 3.7% to $117,510, and the yield for 10-year US Treasuries climbed 6.9 basis points to 4.42%. In economic ne...
US equity indexes fell and government bond yields rose as investors weighed the Trump administration's latest tariff developments. The Nasdaq slipped less than 0.1% at 20,615.88. The S&P 500 fell 0.3% to 6,259.2. The Dow Jones Industrial Average was down 0.6% to 44,392.2. All sectors except technology and energy declined intraday.
European stock markets closed lower in Friday trading as The Stoxx Europe 600 dropped 1.12%, Germany's DAX fell 0.89%, the FTSE 100 declined 0.38%, France's CAC lost 0.92%, and the Swiss Market Index was down 1.60%. In the UK, monthly real gross domestic product declined an estimated 0.1% in May, after a 0.3% decline in April, and growth of 0.4% in March, according to the Office for National St...
National Bank of Canada on Thursday maintained a sector-perform rating and $37.00 price target on the shares of Richelieu Hardware (RHUHF) after the company reported its second quarter results. The company on Thursday reported earnings of $22.5 million, or $0.41 per share, in the quarter ended May 31.
National Bank of Canada maintained its outperform rating on the shares of Torex Gold Resources (TORXF) and its $74.25 price target after the company reported second-quarter production results.
Hudbay Minerals (HBM) maintained its outperform rating and $16.50 price target at National Bank of Canada. The price target is derived from a multiple of 1.10x NAV + 7.0x EV/2026 CF, National Bank of Canada said in a note published on Thursday. Hudbay recently announced the suspension of the Snow Lake operation in Manitoba due to wildfires.
Canada's labor market experienced a "hot" start to the summer, said Desjardins. The economy created 83,000 jobs in June, pushing the unemployment rate down a tick to 6.9%, noted the bank, citing Friday's Labour Force Survey. In addition, the unemployment rate for prime-age individuals also declined from 6.0% to 5.8%. Job creation surged in services sectors.
Canadian employment increased by 83,000, or 0.4% month-over-month, in June and the unemployment rate fell 0.1 percentage point to 6.9%, said the country's statistical agency in its Labour Force Survey on released Friday. Job gains were better than a 900 consensus increase and an unemployment rate of 7.1% provided by Mitsubishi UFG.
Canada's labor market showed its resilience in June, with employment jumping by 83,000 and the unemployment rate falling by a tick to 6.9%, said CIBC. That was relative to the consensus for a flat employment reading and a tick up in the unemployment rate, noted the bank.
President?Donald Trump?s decision to impose a 50% tariff on Brazil has raised concerns among economists, who fear the move sets a troubling precedent. What Happened:?Economists are raising alarms over Trump?s plan to implement a 50% tariff on Brazil starting August 1 ? the highest country-specific tariff among the 22 announced this week,?reported?MarketWatch.
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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