The US dollar rose against its major trading partners early Thursday ahead of a busy day of economic data releases and appearances by Federal Reserve officials. Weekly initial jobless claims, retail sales and import and export price data for June and the Philadelphia Fed's manufacturing report for July will all be released at 8:30 am ET.
US equity markets were mostly pointing higher before the opening bell Thursday as President Donald Trump dismissed reports that he was planning to fire Federal Reserve Chair Jerome Powell, while investors await more corporate earnings.
Aside from Wednesday's very brief spike induced by Federal Reserve Chair Jerome Powell removal speculation, EUR/USD looks rather comfortable trading in the low 1.16s, said ING. That's despite US dollar short-term swap rates trading some 4bps-5bps below Wednesday's peak, as risks of the new Fed chair being an ultra-dove increased, wrote the bank in a note.
Societe Generale in its early Thursday economic news summary pointed out: -- US dollar regains bullish tactical footing in Asia, DXY up against 50dma at 98.76, next hurdles 99.50/100. -- Japan: trade deficit narrowed to 235.5 billion yen in June from 291.6 billion yen in May. Exports -0.5% year over year, imports +0.2%. Japanese investors bought 759.3 billion yen international bonds last week.
The latest Federal Reserve study of economic conditions reveals that businesses that did not raise prices or pass on the impact of tariffs to their customers are likely to take a hit on their profit margins. What Happened: The Beige Book is a Federal Reserve System publication about current economic conditions across the 12 Federal Reserve Districts.
US equities finished higher Wednesday, propelling the Nasdaq Composite to a new high after President Donald Trump denied that he was planning to fire Federal Reserve Chair Jerome Powell soon. The Dow Jones Industrial Average rose 0.5% to 44,254.8, while the S&P 500 climbed 0.3% to 6,263.7. The Nasdaq advanced 0.3% to 20,730.5, setting a fresh record closing high.
Carnival said late Wednesday it closed a $3 billion private offering of 5.75% senior unsecured notes due 2032. Proceeds will be used to fully repay the company's 2028 senior secured term loan, with remaining funds and cash on hand to redeem $2.4 billion of 5.75% senior unsecured notes due 2027.
A political firestorm erupted on Wall Street Wednesday as speculations surged that President Donald Trump could fire Federal Reserve Chair Jerome Powell before his term ends, reigniting fears over central bank independence. Powell's current term runs until May 2026.
As the market continues to contend with the surge in issuance, investors still have a significant amount of cash that can be put to work, said Jeremy Holtz, a portfolio manager at Income Research + Management.
Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund both rising 0.7%. The Philadelphia Housing Index gained 0.8%, and the Real Estate Select Sector SPDR Fund added 0.9%. Bitcoin climbed 1.1% to $118,999, and the yield for 10-year US Treasuries fell 3 basis points to 4.46%. In economic news, hours after President D...
Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund both rising 0.7%. The Philadelphia Housing Index gained 0.8%, and the Real Estate Select Sector SPDR Fund added 0.9%. Bitcoin climbed 1.1% to $118,999, and the yield for 10-year US Treasuries fell 3 basis point to 4.46%. In economic news, hours after President Do...
SROs "are now being guided by individuals who lack a deep real-world understanding of the markets they oversee," the trade association said in a letter to the House Financial Services Committee.
US economic activity rebounded between late May and early this month, though concerns about rising cost pressures grew, the Federal Reserve said in its Beige Book released Wednesday.
Record contributions from public employers made up for below-expectation investment returns, according to a report published by the the Equable Institute.
Fair Isaac Corp (FICO) stock came under pressure on last week's announcement of Fannie Mae and Freddie Mac are now accepting VantageScore 4.0, which caused investor concerns around an erosion of the "FICO monopoly," according to Needham. The Fair Isaac Analyst: Analyst Kyle Peterson maintained a Buy rating, while reducing the price target from $2,575 to $1,950.
Hays County will appeal a June 23 court ruling that voided a successful GO bond election while it explores issuing alternative debt to fund road projects.
Industrial production rose more than expected in June to mark the first gain in four months as utilities' output swung into positive territory, data from the Federal Reserve showed Wednesday. Industrial output grew by 0.3% in June after remaining flat for two consecutive months and falling in March.
Financial stocks advanced in Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund both rising 0.4%. The Philadelphia Housing Index gained 0.4%, and the Real Estate Select Sector SPDR Fund added 0.5%. Bitcoin climbed 1.4% to $119,342, and the yield for 10-year US Treasuries fell 3.2 basis point to 4.456%. In economic news, hours after President Dona...
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund rising 0.4%. The Philadelphia Housing Index was up 0.2%, and the Real Estate Select Sector SPDR Fund was adding 0.9%. Bitcoin was increasing 1.4% to $119,342, and the yield for 10-year US Treasuries was decreasing 1 basis point to 4.48%. In economic new...
US producer prices remained unchanged last month amid an increase in wholesale costs of goods and a decline in the services component, the Bureau of Labor Statistics reported Wednesday, a day after data showed an uptick in consumer inflation.
Exports resilience, the boost from trade-in subsidies on a low base, earlier issuance of government bonds, and implementation of planned policy support underpinned H1 GDP growth in China, said UBS. The bank still expects economic growth to decelerate in H2 -- especially in Q4 -- as exports may turn to year-over-year contraction, property downturn continues, and consumption growth weakens.
The US dollar is likely to remain under pressure into 2026 due to trade tensions, slowing economic growth, rising debt, and Federal Reserve rate cuts, said UBS. The euro remains the preferred alternative to the US dollar, supported by the more front-loaded German fiscal boost and the likely end of the European Central Bank easing cycle, stated UBS.
Societe Generale said it expects no policy change at the European Central Bank's July 24 policy meeting. The data-dependent and meeting-by-meeting approach used by the ECB remains firmly in place, wrote the bank in a note to clients.
The United Kingdom's June inflation data surprised to the upside -- coming above our higher-than-consensus projections, said Sanjay Raja, Deutsche Bank's Chief UK Economist, after Wednesday's consumer price index. Headline CPI now sits at 3.58% year over year and core CPI sits at 3.66% year over year.
National Bank of Canada on Tuesday updated estimates across its coverage of precious metals companies ahead of the second-quarter earnings reporting period. The bank said its estimates are materially higher than consensus forecasts for Agnico Eagle, Aris Mining (ARMN), Fortuna Mining (FSM) and Kinross.
The headline month-over-month number for June's Canadian consumer price index, which isn't seasonally adjusted, came in at 0.1%, matching the consensus expectation, and is lower than May's +0.6%, while the more important year-over-year trend, seasonally adjusted, was 1.9%, and in line with consensus, said Rosenberg Research.
Canadian housing starts came in at a healthy rate of 283,700 annualized units in June, following like-sized gains in April and May, noted TD after Wednesday's data from the Canada Mortgage and Housing Corporation. Meanwhile, the six-month moving average of starts moved swiftly higher by 3.6% month over month to 253,100 units.
Modestly good news for Canada's housing sector came in the existing home sales data, but all the year-over-year trendlines are still somewhat bad, and show the impact of the Bank of Canada's policy rate decisions, said Rosenberg Research. Existing home unit sales rose 2.8% for the month and are now down just 0.5% year over year.
Once considered as a promising prospect for investors, "green" bonds have been plagued by defaults, a concern for those who study the underlying technologies.
A day after the Consumer Price Index reignited concerns over sticky inflation, Wednesday's Producer Price Index offered a more benign view. Producer prices were flat in June, down from May's upwardly revised 0.3% increase and coming in below the 0.2% consensus estimate. Core PPI, which strips out food and energy, also was also flat during the month, softer than the 0.2% forecast.
The US Producer Price Index held steady in June following a 0.3% increase in May, below a 0.2% gain expected in a survey compiled by Bloomberg. Energy prices rose by 0.6% in the month, while food prices rose by 0.2%. After excluding food and energy prices, core PPI held steady, below the 0.2% gain expected and following a 0.4% gain in the previous month.
The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada rose 0.4% month-over-month in June to 283,734 units compared with May's 282,705 units, said Canada Mortgage and Housing Corporation on Wednesday. June's housing starts were better than the 254,000 consensus figure provided by Mitsubishi UFG.
It was the summer of 2022 when inflation in both Canada and the United States hit a four-decade high, noted Bank of Montreal. Three years later and -- though cost pressures have come down significantly -- the battle to restore price stability is still on-going, said the bank.
A 2024 Illinois law loosened school bond restrictions, allowing districts to authorize some debt without an election. That caused a backlash in one district.
The Equipment Leasing & Finance Foundation today released its Q3 update of the 2025 Equipment Leasing & Finance U.S. Economic Outlook, forecasting a mechanical rebound in Q2 growth driven by stronger net exports before slowing over the remainder of the year due to pressure of higher tariffs and an increasingly cautious consumer behavior.
CUSIP Global Services today announced the release of its CUSIP Issuance Trends Report for June 2025. North American corporate CUSIP requests totaled 8,160 in June, which is up 4.1% on a monthly basis. The aggregate total of identifier requests for new municipal securities ? including municipal bonds, long-term and short-term notes, and commercial paper ? fell 1.2% versus May totals.
Canada's underlying inflation measures rebounded in June, with trim/median averaging 0.25% month over month and 3.05% year over year, a result that is likely to give the Bank of Canada some pause after the moderation in May, said David Doyle, head of economics at Macquarie Group, after Tuesday's consumer price index data.
The US dollar fell against its major trading partners early Wednesday, except for a small gain versus the Canadian dollar, ahead of the release of producer price data for June and services data for July from the New York Federal Reserve, all at 8:30 am ET.
The main US stock measures were mostly trending downwards in Wednesday's premarket activity, as investors await last month's report on producer prices and more bank earnings. The S&P 500 edged down 0.1% and the Nasdaq was off 0.3% before the opening bell, while the Dow Jones Industrial Average was slightly in the green.
Wall Street futures pointed modestly lower pre-bell Wednesday as traders awaited another inflation report from Washington, and digested earnings season results. The producer price index for June will post at 8:30 am ET, with pundits projecting a 2.5% year-on-year gain, and a 2.7% lift on core PPI that strips out certain food and energy bills.
Sterling was lifted early Wednesday by the release of the stronger-than-expected United Kingdom consumer price index report for June, said Mitsubishi UFG. It has helped to lift cable back above the 1.3400 level at the start of the European trading session after it fell to a low on Tuesday of 1.3379, wrote the bank in a note to clients.
Asian stock markets finished mixed and muted Wednesday as traders awaited fresh catalysts, weighed central bank actions and pending elections. Hong Kong edged lower while Shanghai and Tokyo finished flat. In Japan, the Nikkei 225 opened evenly, waffled and finished essentially even, as traders awaited pending weekend elections for the House of Councillors, the nation's upper legislative body.
Societe Generale in its early Wednesday economic news summary pointed out: -- US dollar and United States Treasury yields consolidate post U.S. consumer price index gains in Asia, the producer price index is set for Wednesday will offer takeaways for PCE. -- U.S. tariffs to delay Federal Reserve rate cuts?
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.
Log In Required
Publication Date