Aecom (ACM) said late Tuesday it has priced an offering of $1.2 billion worth of 6% senior unsecured notes due 2033. The sale is expected to close on or about July 22, the company said. Aecom (ACM) said it plans to use the net proceeds, along with cash on hand, to purchase its outstanding 5.125% senior notes due 2027. MT Newswires does not provide investment advice.
US benchmark equity indexes closed mixed on Tuesday as investors parse the latest consumer price index and inflation data. The Nasdaq was up 0.3% to 20,708.65 while the S&P 500 decreased 0.2% to 6,253.67. The Dow Jones Industrial Average fell 0.8% to 44,090.47. Among sectors, technology was the lone gainer, with materials and healthcare falling the most.
As always, economists had disparate interpretations of the consumer price index, with none expecting a July rate cut. And tariff questions remain unanswered.
National Bank of Canada on Tuesday maintained its outperform rating and US$135 price target on the shares of The Descartes Systems Group (DSGX), providing implications of the June Freight Index for the company.
Financial stocks dropped in late Tuesday afternoon trading with the NYSE Financial falling 1.2% and the Financial Select Sector SPDR Fund declining 1.4%. The Philadelphia Housing Index shed 2.9%, and the Real Estate Select Sector SPDR Fund lost 1.1%. Bitcoin dropped 2.5% to $116,943, while the yield for 10-year US Treasuries rose 6 basis points to 4.49%. In economic news, the consumer price ind...
Financial stocks were decreasing in late Tuesday afternoon trading, with the NYSE Financial and the Financial Select Sector SPDR Fund each falling 1.3%. The Philadelphia Housing Index dropped 2.8%, and the Real Estate Select Sector SPDR Fund was shedding 1%. Bitcoin was declining 2.5% to $116,943, while the yield for 10-year US Treasuries rose 6 basis points to 4.49%. In economic news, the cons...
The consumer price index rose by 0.3% as expected in June and was up 0.2% excluding food and energy prices, slightly below expectations. The gain lifted the year-over-year increase to 2.7% from 2.4% in May, while the core measure was up 2.9% year-over-year after a 2.8% rate in the previous month.
Financial stocks were decreasing in Tuesday afternoon trading, with the NYSE Financial down 1.2% and the Financial Select Sector SPDR Fund falling 1.4%. The Philadelphia Housing Index was retreating 2.4%, and the Real Estate Select Sector SPDR Fund was shedding 1.5%. Bitcoin was declining 2.1% to $117,350, and the yield for 10-year US Treasuries was up 5 basis points to 4.48%. In economic news,...
National Bank of Canada on Tuesday maintained its outperform rating and $24.00 price target on the shares of Air Canada (ACDVF), and also maintained its underperform rating and $2.25 price target on the shares of Transat A.T., following the release of the Canadian June consumer price inflation data.
Financial stocks were decreasing in Tuesday afternoon trading, with the NYSE Financial down 1.2% and the Financial Select Sector SPDR Fund falling 1.4%. The Philadelphia Housing Index was retreating 1.4%, and the Real Estate Select Sector SPDR Fund was shedding 1.5%. Bitcoin was declining 2.1% to $117,350, and the yield for 10-year US Treasuries was up 5 basis points to 4.48%. In corporate news...
The latest Canadian inflation data aligns broadly with expectations, showing an annual inflation rate of 1.9%, said National Bank of Canada after Tuesday's consumer price index data for June. At first glance, this figure isn't alarming as it is close to the Bank of Canada's target of 2.0%, it noted. This rate is comfortably within the higher band of the BoC's target range.
National Bank of Canada mantained its outperform rating on the shares of AbraSilver Resource (ABBRF) and its $7.00 price target after the company released exploration-drilling results from the Diablillos project in Argentina. The company released additional drill assays from the Oculto East, JAC and Cerro Veijo targets at the Diablillos project.
The Canadian June consumer price index report showed price pressures likely remained a bit too firm for the Bank of Canada's liking, said CIBC after the release of the CPI data.
National Bank of Canada reiterated its sector-perform rating on the shares of PrairieSky Royalty (PREKF) while raising its price target to $32.00 from $30.00 following second-quarter results from the Western Canadian oil and gas royalty company. The higher price target was a result of the bank's minor changes to its forecast in connection with the quarterly update.
The Nasdaq Composite was up in late-morning trading Tuesday following news that Nvidia (NVDA) expects to "soon" resume H20 GPU deliveries to China while the Dow Jones was down and the S&P 500 was roughly flat as investors parse the latest inflation data.
Canadian headline inflation edged higher in June, as expected, following last month's downside surprise, with the consumer price index rising to 1.9% year-over-year and aligning with pre-release projections, said RBC. It remains too early to determine whether the recent increases in auto and grocery prices are fully attributable to tariffs in the trade war with the United States, noted the bank.
National Bank of Canada maintained its sector-perform rating on the shares of Newmont (NEM) and its $100 price target. Newmont (NEM) recently announced the resignation of Karyn Ovelmen as chief financial officer. The miner said Ovelmen's resignation was not due to any disagreement on any matter relating to operations, financial statements or accounting policies.
National Bank of Canada reiterated its outpeform rating on the shares of Wesdome Gold Mines (WDOFF) and its $28.50 price target following second-quarter production results from the miner. Wesdome recently reported production of 42,800 ounces in the second quarter, compared to National Bank's forecast of 44,100 ounces.
Canadian headline CPI inflation for June came in at 1.9% year-on-year, heating up from the 1.7% print in May and in line with expectations, said TD after Tuesday's release of consumer price index data. The uptick was due to gasoline prices falling to a lesser extent in June and faster price growth for passenger vehicles and furniture, noted the bank.
B2Gold (BTG) maintained its outperform rating and $7.75 price target at National Bank of Canada, according to a note published Monday. The bank said its thesis on B2Gold (BTG) considers the company's next leg of growth, NAV-accretive exploration opportunities, strong balance sheet and peer-leading dividend yield. The price target is based on 4.0x EV/EBITDA NTM, the bank said.
US consumer inflation accelerated last month at the fastest pace since January as analysts said there were signs pointing to tariffs driving prices higher. The consumer price index rose 0.3% month on month in June, the Bureau of Labor Statistics reported Tuesday.
Canadian existing home sales advanced for a third consecutive month in June, increasing by 2.8% month-on-month, noted TD. Gains in British Columbia and Ontario helped lift national sales, while activity dipped in Alberta, Manitoba, New Brunswick, and Newfoundland, noted the bank after the release of Tuesday's data from the Canadian Real Estate Association.
Aecom (ACM) said Tuesday it has launched a private offering of $1 billion of senior unsecured notes due 2033. The company said it plans to use the net proceeds, including cash on hand, to purchase its outstanding 5.125% senior notes due 2027, and redeem any 2027 notes not purchased in a tender offer.
Canadian consumer prices rose 0.1% month over month in June, a tad lower than expectations yet still enough to nudge up the headline inflation rate to 1.9% year over year from 1.7% in the prior two months, sai Bank of Montreal after Tuesday's CPI data.
The Canadian headline consumer price index rose just 0.1% month-over-month non-seasonally adjusted in June, leaving the annual rate accelerating to 1.9% due to base effects, noted Desjardins after the release of Tuesday's CPI data.
The June inflation report brought a dose of relief to Wall Street on Tuesday morning, as the headline Consumer Price Index matched expectations, while core inflation came in slightly cooler than forecast, reviving optimism for interest rate cuts later this year. The headline CPI rose 0.3% month over month and 2.7% year over year, exactly in line with the consensus.
The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.3% in June, as expected in a survey compiled by Bloomberg and following a 0.1% increase in May, according to data released Tuesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, slower than the consensus estimate for a 0.3% increase.
The Canadian consumer price index rose 1.9% year-over-year in June, up from a 1.7% increase in May, said the country's statistical agency on Tuesday. June's CPI was perfectly in line with a consensus figure provided by MUFG.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust was 0.6% higher in Tuesday's premarket activity, ahead of the key CPI report. US stock futures were mixed, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures slipping 0.03%, and Nasdaq futures gaining 0.6% before the start of regular trading.
While Canada's Labour Force Survey of Friday wasn't quite as strong as the "rip-roaring" headline would suggest, it nevertheless represented a big step in the right direction, said Bank of Montreal. Specifically, the pullback in the unemployment rate is "very encouraging," noted the bank.
The US dollar fell against its major trading partners early Tuesday, except for a gain versus the yen, ahead of the release of consumer price index data for June and the New York Federal Reserve's Empire State manufacturing survey for July, both at 8:30 am ET. Weekly Redbook same-store sales data follow at 8:55 am ET.
Canada will release June consumer price index data at 8:30 a.m. ET on Tuesday, noted Bank of Montreal, adding that inflation is expected to perk up with "challenging" base effects driving much of the acceleration. The bank is looking for prices to be up 0.2% in the month, lifting inflation to 2.0% year over year from 1.7%. Price pressures are expected to be driven by food and transportation.
Andrew Bailey said the FSB should continue implementing its agreed stablecoins recommendations and monitor developments in this area across jurisdictions.
EUR/USD is consolidating as investors price up the next trade move, said ING. So far, the European Union has refused to retaliate and hopes to negotiate its way out of the 30% tariffs imposed by United States President Donald Trump at the weekend. For Tuesday, U.S. consumer price index will be the main driver of EUR/USD, stated ING.
Societe Generale in its early Tuesday economic news summary pointed out: -- US dollar trims gains ahead of United States consumer price index, President Trump open to more trade negotiations.
Deutsche Bank?has issued a warning about the potential consequences of President?Donald Trump?replacing?Jerome Powell?as the head?of the U.S. Federal Reserve. What Happened: A research note titled ?What if?? was published by the bank?s?global head of FX research,?George Saravelos, over the weekend.
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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