The US dollar was mixed against its major trading partners early Tuesday -- up versus the yen and Canadian dollar, down versus the euro and pound -- ahead of the release of consumer price index data for July at 8:30 am ET.
Wall Street futures were muted pre-bell Tuesday as traders awaited the latest national inflation report and digested the waning earnings season. In the futures, the S&P 500, the Nasdaq and the Dow Jones all hewed close to Monday's closes.
The euro continues to be affected -- although not in great magnitude -- for now by the Russia-United States headlines, said ING. The bank expects Tuesday's U.S. consumer price index to bring EUR/USD back below 1.16, with risks skewed to a test of the 1.150 support if the Vladimir Putin-Donald Trump summit yields few results on Friday.
Societe Generale in its early Tuesday economic news summary pointed out: -- US dollar and United States yields rangebound ahead of the consumer price index, 10-year U.S. Treasury support 4.18%, resistance 4.38%. The two-year support 3.69%/66% and resistance 3.82%. EUR/USD on 50dma, option strikes at 1.1575, 1.1650. U.S./China tariff truce rolled for 90 days.
DigitalOcean Holdings (DOCN) said Tuesday it priced a $550 million private offering of 0% convertible senior notes due Aug. 15, 2030, upsized from a previously planned $500 million. Initial purchasers have an overallotment option to purchase up to an additional $75 million of the notes.
CubeSmart (CUBE) said late Monday its operating partner CubeSmart LP priced a $450 million underwritten public offering of total principal amount of 5.125% senior unsecured notes due 2035 at 98.656% of the principal amount. The company intends to close the offering on Aug. 20, it added.
Zoetis (ZTS) said late Monday it priced a public offering of $1.85 billion of senior notes, consisting of $850 million of 4.15% notes due 2028 and $1 billion of 5% notes due 2035.
WisdomTree (WT) said late Monday it plans a $400 million private offering of convertible senior notes due 2030. The company expects to grant the initial purchasers of the notes an option to buy up to an additional $60 million of the securities. WisdomTree (WT) said it plans to use $275 million of the net proceeds to pay the closing consideration for its acquisition of Ceres Partners, among other things.
AAR said late Monday it priced an add-on offering of $150 million of 6.75% senior notes due 2029 at 102% of the principal amount. The notes will be an addition to previously issued $550 million principal amount of 6.75% senior notes due 2029. The company intends to use the net proceeds for debt repayments. Closing of the offering is expected on Thursday, subject to customary conditions.
CubeSmart (CUBE), the third-largest owner and operator of self-storage properties in the United States, today announced that its operating partnership, CubeSmart (CUBE), L.P., priced an offering of $450.0 million aggregate principal amount of 5.125% senior unsecured notes due 2035 in an underwritten public offering.
US equity indexes fell on Monday ahead of July's inflation data and President Donald Trump's upcoming meeting to broker a truce between Russia and Ukraine. The Nasdaq Composite fell 0.3% to 21,385.40, with the S&P 500 down 0.3% to 6,373.45 and the Dow Jones Industrial Average 0.5% lower at 43,975.0, giving up all gains from earlier in the session.
US equity indexes traded mixed after posting a gain last week, as investors weighed a key deadline for China trade tariffs, July's inflation data, and geopolitical risks.
Financial stocks were mixed late Monday afternoon with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund climbing 0.1%. The Philadelphia Housing Index fell 0.6%, and the Real Estate Select Sector SPDR Fund shed 0.3%. Bitcoin increased 0.3% at $119,555, and the yield for 10-year US Treasuries shed 1 basis point to 4.27%. In economic news, the official report on July ...
Economic tremors ripple across financial markets as shifting global dynamics push major banks to alter their interest rate forecasts. The shift reflects signs of labor market weakness and uncertainty surrounding President Donald Trump's latest Fed nomination. The bank still sees three more quarter-point cuts following the September move before the Fed pauses.
The US Consumer Price Index is expected to rise by 0.2% in July after a 0.3% gain in June, according to a survey compiled by Bloomberg, but the year-over-year rate is forecast to accelerate to 2.8% from 2.7% The CPI data are scheduled to be released at 8:30 am ET Tuesday.
Federal Reserve Vice Chair for Supervision Michelle Bowman said she foresees three interest rate cuts for this year, a view bolstered by the latest employment data.
Shares of Fannie Mae and Freddie Mac are surging in Monday morning trading, building on momentum from late last week. What To Know: The primary catalyst for the rally is a report revealing the Trump administration is seriously considering a plan to sell a portion of its stake in Fannie Mae and its counterpart, Freddie Mac.
Financial stocks were softer Monday afternoon, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund down 0.2%. The Philadelphia Housing Index was falling 1.2%, and the Real Estate Select Sector SPDR Fund was shedding 0.4%. Bitcoin was up 0.4% at $119,767, and the yield for 10-year US Treasuries was down 2 basis points at 4.26%. In economic news, the US dollar stre...
Mexico's central bank decided to lower the policy rate 25bp to 7.75% last week, as expected, noted Deutsche Bank. The decision was taken by a 4-1 majority, in which Deputy Governor Jonathan Heath favored standing pat. The bank continues to pencil in the policy rate closing the year at 7.25% and reaching a terminal level of 6.75% by Q1 2026.
July's inflation report, due Tuesday at 8:30 a.m. ET, is likely to confirm that Donald Trump's trade tariffs are beginning to ripple across more categories in the consumer basket. Wall Street economists expect the Consumer Price Index to rise for a third straight month. The consensus view is for annual CPI to print at 2.9%, above June?s 2.8% and matching the highest level since February.
Peru's central bank is due to announce a third consecutive rate hold on Thursday as soft inflation -- due to accelerate a touch in H2 -- is offset by solid economic fundamentals to leave officials with little reason to cut, said Scotiabank. However, "never write off" a BCRP surprise, noted the bank.
National Bank of Canada maintained its sector-perform rating on the shares of GDI Integrated Facility Services (GDIFF) while cutting its price target to $33.00 from $41.50 following the company's second-quarter results. The bank cut its forecasts for GDI's business services segments, citing a softer outlook.
The Canadian Real Estate Association will release the July existing home sales on Friday at 9 a.m. ET, noted RBC. Early housing reports are pointing to further recovery in home resales in July after plunging consumer confidence sent prospective buyers to the sidelines in the spring.
The median response of the Bank of Canada's Q2 Market Participants Survey sees the BoC cutting rates by 25bps in September and a further 25bps in December 2025.
Emera's (EMA) price target has been increased to C$62 from $60 with an unchanged Sector Perform rating at National Bank of Canada, according to a note released over the weekend. The bank cited the bump to its DCF valuation for the company while tapping down its DDM yield to reflect the strengthened balance sheet.
After the Riksbank lowered the policy rate by 25bps in June to 2.0% and maintained an easing bias, UBS said it expects Sweden's central bank to remain on hold at its upcoming meeting on Aug. 20. Growth data since the last meeting were mixed at best, justifying the easing bias, but inflation remains elevated with headline CPIF at 3.0% year over year and CPIF excluding energy at 3.1% in July.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Hurricane Scores, according to ICE Climate Data. An $8 million offering from Point Pleasant, N.J., records a Flood Score of 4.9 out of 5.0, ICE reports.
US equity futures were little changed ahead of Monday's opening bell as traders looked ahead to a key inflation report later in the week. Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, Nasdaq futures were little changed. Investors are awaiting the July consumer price index bulletin from Washington, slated for Tuesday.
Both sides of the muni market would be affected by new tax schemes being weighed by states with growing populations and dwindling revenues, according to analysts.
US equity futures were cautiously higher pre-bell Monday as traders looked ahead to a key inflation report later in the week. Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.2%, Nasdaq futures were 0.1% higher. Investors are awaiting the July consumer price index bulletin from Washington, slated for Tuesday.
The US dollar rose against its major trading partners early Monday as markets look ahead to inflation and retail sales data for July this week. There are no US data scheduled for release Monday, but surprise appearances by Federal Reserve officials on television networks are possible.
One of the key macro events this week will be the Reserve Bank of Australia's policy decision at 12:30 a.m. ET on Tuesday, said MUFG. The OIS market is indicating a 100% probability of a 25bps cut and as such, the potential for a market move is unlikely to come from the RBA confirming this and cutting as expected, wrote the bank in a note to clients.
US equity investors will focus on inflation and President Donald Trump's high-stakes diplomacy with Russia while a key China trade-tariff deadline approaches. * The consumer price index is expected to rise by 2.8% year-over-year in July from 2.7% in the previous month. * The odds for a 25 basis-point cut in interest rates in September stood at 88% as of Monday, versus 40% a month ago.
Societe Generale in its early economic news summary pointed out: -- The US dollar maintains offered tone ahead of the United States consumer price index on Tuesday, Treasury Secretary Bessent wants policy to keep the US dollar reserve currency. -- European Central Bank call change: SocGen economists postpone next rate cut to March 2026.
Federal Reserve Vice Chair for Supervision Michelle Bowman, who dissented at last month?s Federal Open Market Committee meeting, reiterated her call for interest rate cuts, citing the weak jobs report early this month, and inflation nearing the Fed?s 2% target.
President Donald Trump?has called on China to significantly increase?its soybean orders from the?United States, a move that could potentially address the trade imbalance between the two nations. On Sunday, the President took to Truth Social to express his hope that?China would quadruple its soybean?orders from the U.S. to address its soybean shortage.
Treasury Secretary Scott Bessent outlined the qualities that he thinks the next Federal Reserve Chair should possess in an interview with Nikkei on Thursday. According to Bessent, Jerome Powell?s successor should instill confidence in the markets.
The past week has been a whirlwind of news in the world of cryptocurrency and finance. Let?s dive into the top stories of the week. Robert Kiyosaki: Trump?s Crypto Vision Author?Robert Kiyosaki?has offered his insights on the future of the U.S. Federal Reserve in light of recent developments in cryptocurrency policy. Read the full article here.
As President Donald Trump continues to push for lower interest rates, the search for a successor to Federal Reserve Chair Jerome Powell has expanded, with U.S. Treasury Secretary Scott Bessent at the helm. Bessent is leading the search for a new Federal Reserve chair, following Trump?s repeated calls for the central bank to lower interest rates.
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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