US equity futures were cautiously higher pre-bell Wednesday after Tuesday's consumer inflation report fueled expectations that the Federal Reserve will cut interest rates next month. Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.2% higher.
With Chicago-area transit's fiscal cliff looming, the area's transit agencies are searching for revenue fixes and prepping for two key milestones this fall.
Denison Mines (DNN) said Tuesday it has priced its upsized offering of $300 million in convertible senior unsecured notes due 2031. The notes will bear cash interest semi-annually at a rate of 4.25% per year. The initial conversion rate for the notes will be 342.9355 common shares per $1,000 principal amount of notes, which is equivalent to an initial conversion price of about $2.92 per share.
European bourses tracked higher midday Wednesday, along with global markets, as investors anticipate a possible rate cut from the US Federal Reserve in September based on the country's July inflation data. Wall Street futures were also advancing in early US premarket hours, while most Asian markets closed higher the same trading day.
The Reserve Bank of Australia cut the cash rate by 25bps to3.6% at the start of the week, as widely expected, said UBS. The press release was largely unchanged from July and the bank keeps its cash rate forecast of two follow-up 25bps cuts in November and February 2026. UBS added that it will review its call after the labor data on Aug. 14.
The main US stock measures were pointing higher in Wednesday's premarket activity amid increasing expectations that the Federal Reserve will lower interest rates next month after Tuesday's consumer inflation report. The S&P 500 rose 0.2% in premarket activity, while the Dow Jones Industrial Average and the Nasdaq added 0.3% each.
Zambia's central bank on Wednesday said its Monetary Policy Committee decided to leave the Monetary Policy Rate at 14.5%. Since the last MPC meeting, inflation has been on a downward trend, falling to 14.1% in June and 13.0% in July and inflation was now projected to fall within the target band from Q1 2026, wrote BoZ in its policy statement.
Societe Generale in its early Wednesday economic news summary pointed out: -- US dollar stays softer with lower two-year United States Treasury yield after friendly July goods consumer price index excluding autos cements case for Federal Reserve September rate cut, OIS pricing -23.5bps, VIX below 15.
The July CPI report has put the Federal Reserve in a ?predicament? regarding a September rate cut, as stubbornly high core inflation conflicts with a weakening labor market, fueling fears of ?stagflation-lite.
Denison Mines (DNN) said late Tuesday that it is offering $250 million of convertible senior unsecured notes due 2031. The company said it expects to grant initial purchasers an option to buy up to an additional $37.5 million of notes. The shares were down over 11% in after-hours trading. MT Newswires does not provide investment advice.
NXP Semiconductors (NXPI) reported late Tuesday the pricing of its $500 million of 4.300% senior unsecured notes due 2028, $300 million of 4.850% senior unsecured notes due 2032, and $700 million of 5.250% senior unsecured notes due 2035. NXP said it expects to close the offering Aug. 19.
The Nasdaq Composite and the S&P 500 hit fresh record highs on Tuesday as expectations for a Federal Reserve interest rate cut in September grew following the consumer inflation report. The Nasdaq climbed 1.4% to 21,681.9, eclipsing its previous record close hit Friday.
The rating agency cited the MTA's congestion pricing program, ridership recovery, healthy liquidity levels, and continued state support for the higher rating.
NXP Semiconductors N.V. (NXPI) announced today the pricing of an offering by its subsidiaries NXP B.V., NXP Funding LLC and NXP USA, Inc. of $500,000,000 aggregate principal amount of 4.300% senior unsecured notes due 2028, $300,000,000 aggregate principal amount of 4.850% senior unsecured notes due 2032 and $700,000,000 aggregate principal amount of 5.250% senior unsecured notes due 2035.
Denison Mines (DNN) was at last look down near 10% in New York after-hours trade after it said it will raise US$250 million in an offering of convertible senior unsecured notes due 2031.
US benchmark equity indexes rose Tuesday with the S&P 500 and the Nasdaq climbing to records after inflation in July accelerated less than expected on an annual basis, raising expectations for a September interest rate cut by the Federal Reserve.
Shares of Bank of America Corp (BAC) and Wells Fargo & Co (WFC) are up Tuesday afternoon, lifted by a broad market rally that pushed the S&P 500 and Nasdaq-100 to new all-time highs. What To Know: Tuesday?s investor optimism stems from a July inflation report that presented a split verdict for the U.S. economy, ultimately bolstering the case for an upcoming Federal Reserve interest rate cut.
"The combination of stronger core and softer headline readings has left some traders struggling for direction," said Daniela Sabin Hathorn, senior market analyst at Capital.com. "There is a reason to be both bullish and bearish depending on which CPI reading you wish to focus on."
Financial stocks climbed late Tuesday afternoon, with the NYSE Financial Index rising 1.3% and the Financial Select Sector SPDR Fund adding 1.2%. The Philadelphia Housing Index advanced 2.4%, and the Real Estate Select Sector SPDR Fund edged up 0.1%. Bitcoin increased 0.9% to $119,791, and the yield for 10-year US Treasuries rose 2 basis points to 4.29%. In economic news, the US seasonally adju...
Financial stocks gained in late Tuesday afternoon trading with the NYSE Financial Index rising 1.3% and the Financial Select Sector SPDR Fund adding 1.2%. The Philadelphia Housing Index climbed 2.4%, and the Real Estate Select Sector SPDR Fund edged up 0.1%. Bitcoin increased 0.9% at $119,791, and the yield for 10-year US Treasuries rose 2 basis points to 4.29%. In economic news, the US seasona...
The consumer price index rose by 0.2% in July and was up 0.3% excluding food and energy prices, both matching expectations. The year-over-year pace for overall CPI remained at 2.7% while the core measure was up 3.1% year-over-year after a 2.9% rate in the previous month.
The fiscal 2026 budget would increase police and fire funding by $63.1 million as the city works to comply with a voter-approved public safety spending mandate.
Kansas City Fed President Jeffrey Schmid said that interest rates should not be lowered right now with the economy still strong and inflation above the Fed's target.
US benchmark equity indexes were higher intraday following the release of consumer inflation data, which further strengthened the probability of a Federal Reserve interest rate cut in September.
Gold futures edged lower midafternoon on Tuesday even as the dollar and treasury yields dropped after a report showed U.S. inflation was steady last month, keeping expectations for a coming cut to U.S. interest rates in place. Gold for December delivery was last seen down US$4.40 to US$3,400.30 per ounce.
The US central bank should maintain its monetary policy for now as inflation remains "too high," Kansas City Federal Reserve Bank President Jeffrey Schmid said Tuesday, voicing disagreement with policymakers calling for interest rate cuts.
The Federal Home Loan Bank of San Francisco today announced a $10 million investment in a Freddie Mac bond issuance that will support the continuing affordability of 436 housing units for low-income residents in Phoenix.
Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 1.2% and the Financial Select Sector SPDR Fund adding 1.1%. The Philadelphia Housing Index was climbing 2.1%, and the Real Estate Select Sector SPDR Fund was down 0.3%. Bitcoin was easing 0.1% at $119,743, and the yield for 10-year US Treasuries was up 2 basis points at nearly 4.30%. In economic n...
Today the Federal Home Loan Bank of Indianapolis announced Jason Blain, senior commercial lender at Grand Rapids-based Independent Bank, was awarded the 2025 Community Spirit Award honoring exceptional contributions to affordable housing and community development in Michigan.
Colombia's July inflation reading came in above expectations, pushing annual headline inflation up while maintaining core inflation stable, said Deutsche Bank. July's inflation came in at 0.28% month over month and at 4.90% year over year.
The Toronto Stock Exchange is up 115 points with most sectors higher. The biggest gainers are the mining and telecoms sectors, up 2% and 1.5%, respectively. Utilities, is the sole decliner, down 0.25%. Market focus was on U.S. CPI Inflation figures for July, which were "fairly neutral," suggesting slowing tariff passthrough.
The European stock markets closed mostly higher in Tuesday trading as the Stoxx Europe 600 rose 0.24%, the FTSE 100 was up 0.20%, France's CAC gained 0.71%, the Swiss Market Index increased 0.14%, while Germany's DAX was off 0.13% The ZEW Indicator of Economic Sentiment in Germany decreased 18 points in August from July to 34.7 points after increasing for several consecutive months.
Kenya's central bank on Tuesday said its Policy Committee decided to lower the Central Bank Rate by 25bps to 9.50%. The MPC "concluded that there was scope for a further easing of the monetary policy stance to augment the previous policy actions aimed at stimulating lending by banks to the private sector and supporting economic activity, while ensuring inflationary expectations remain firmly an...
National Bank of Canada on Tuesday maintained its outperform rating on the shares of Altius Minerals (ATUSF) while raising its price target to $36.00 from $35.00 following the company's second-quarter results. The bank increased the price target after the results and the sale of a 1.0% net smelter royalty on the Arthur operation.
All three major US stock indexes were up in late-morning trading Tuesday after a key inflation report could give the Federal Reserve cover to cut interest rates in September. The US seasonally adjusted consumer price index rose by 0.2% in July, as expected in a survey compiled by Bloomberg as of 7:30 a.m. ET and following a 0.3% gain in June, the Bureau of Labor Statistics said Tuesday.
National Bank of Canada maintained its outperform rating on the shares of EMX Royalty (EMX) while raising its price target to $5.75 from $5.25 following the company's second-quarter results. EMX's second-quarter results included an adjusted EBITDA of US$4.9 million, below the bank's estimates of US$6.0 million.
Barrick Gold (B) kept its Sector Perform rating and C$36 price target at National Bank of Canada, according to a note published Monday, after incorporating Q2 financial results. National kept Barrick's rating unchanged due to its heightened geopolitical risk compared to senior peers as it continues to discount the company's operations in Mali from its target derivation.
US consumer inflation slowed down last month on a sequential basis, while the annual core rate jumped above 3%. The consumer price index rose 0.2% month on month in July, decelerating from a 0.3% gain in the month prior, the Bureau of Labor Statistics reported Tuesday.
The Reserve Bank of Australia cuts 25bps to 3.60% overnight Monday, as expected, said Societe Generale. The Statement on Monetary Policy forecasts show trimmed mean consumer price index is near the target and the terminal unemployment rate is close to current levels, which is a quasi-endorsement of the current pricing path, giving a small dovish guide, wrote the bank in a note to clients.
Uganda's Tuesday said the Monetary Policy Committee decided to keep the Central Bank Rate at 9.75% due to the persistent global economic uncertainty from trade dynamics and geopolitical tensions. "Given the global uncertainties and elevated risks to inflation, the MPC has opted for a cautious monetary policy stance, maintaining the CBR at 9.75%," wrote the BoU in its policy statement.
goeasy, on Tuesday said it plans to offer US$400 million and C$100 million offerings of senior unsecured notes. The actual terms of the USD notes, including interest rate, will depend on market conditions at the time of pricing. goeasy also expects to enter into a currency swap agreement to fix the foreign currency exchange rate for the proceeds from USD notes offering.
Gold futures fell early on Tuesday even as the dollar and treasury yields dropped after a report showed U.S. inflation was steady last month, keeping expectations for a coming cut to U.S. interest rates in place. Gold for December delivery was last seen down US$6.30 to US$3,398.40 per ounce.
Among the many soft spots in July's Labour Force Survey was a further worsening of the job market for Canadian youth, said Bank of Montreal. The unemployment rate for people aged 15-24 jumped to 14.6% last month -- while this series can be choppy month-to-month -- that's the highest jobless rate for this cohort since 2010, noted the bank.
The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.2% in July, as expected in a survey compiled by Bloomberg as of 7:30 am ET, and following a 0.3% gain in June, according to data released Tuesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, increased by 0.3%, as expected following a 0.2% gain in June.
Sterling is continuing to trade at stronger levels following last week's hawkish Bank of England policy update, which signaled that it's less confident over the need to continue cutting rates at the current quarterly pace, said MUFG.
The Reserve Bank of Australia cut rates by 25bps to 3.60% overnight Monday, as widely expected, said ING. The Australian dollar was slightly weaker, with markets interpreting the RBA's downward revisions to inflation and growth as a dovish signal, noted the bank. However, Governor Michele Bullock kept forward guidance open-ended and data-dependent.
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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