The S&P Global Canada Manufacturing Purchasing Managers' Index, a composite index designed to provide an overview of the health of the manufacturing sector, rose to 48.3 in August. That was up from 46.1 in July and the highest PMI reading since January, said S&P Global on Tuesday. sector contraction.
Canada will release the Labour Force Survey for August on Friday, at 8:30 a.m. ET, noted RBC. Canadian job markets have shown some signs of stabilizing in recent months, with the unemployment rate ticking down to 6.9% in June and July from a 7.0% rate in May, said the bank.
In Canada, the effects of United States President Donald Trump's trade war were clearly evident in Q2, with the economy contracting by 1.6% quarter-on-quarter annualized, said Commerzbank. This was well below the expectations of analysts surveyed by Bloomberg, despite the Bank of Canada having recently predicted a similar slump, noted the bank.
Obsidian Energy (OBE) said Tuesday that it has redeemed C$30 million worth of its 11.95% senior unsecured notes due July 27, 2027. The company said payment of the redemption price and surrender of the Notes for redemption are being made through Computershare Trust Company of Canada. Obsidian said it now has $80.8 million worth of outstanding notes. MT Newswires does not provide investment advice.
Data center projects, which are proliferating across the country, are taking advantage of tax breaks that can be costly for states and local governments.
The US dollar rose against its major trading partners early Tuesday after the long US holiday weekend and before a busy week that concludes with the August employment report Friday.
Organigram Global Inc. (OGI), Canada's largest cannabis company by market share, on Tuesday released 'High Impact, Green Growth: The Economic Footprint of Canada's Cannabis Industry', a national report done in partnership with the Business Data Lab at the Canadian Chamber of Commerce.
As summer winds down, last week's economic calendar heated up in Canada, said TD. The headline release was Q2 gross domestic product, offering the first hard look at how Canada's economy coped under the weight of tariffs, noted the bank.
There seems to be quite a lot of focus on the August eurozone consumer price index release on Tuesday, said ING. Inflation in the eurozone rose from 2% year over year to 2.1% in August on the back of slowing energy price declines.
Gold hit record prices on Tuesday, with prices for the precious metal breaking through the $3,500-per-ounce threshold for the first time. Gold was trading at $3,547 per ounce. Gold is rallying on expectations that the US Federal Reserve will cut interest rates, weakening the dollar and bolstering precious metals as a hedge against inflation. MT Newswires does not provide investment advice.
The U.S. Treasury Department has unveiled a?list of 68 jobs that?reportedly qualify for a new tax?deduction under the ?no tax on tips? pledge in President Donald Trump?s ?big, beautiful bill. #8221; The new tax deduction, a key feature of Trump?s bill, aims to provide financial relief to workers in specific industries.
Confidence across the American middle class cooled this summer as consumers grew more wary about jobs and income, interrupting a brief upswing in sentiment. The University of Michigan's consumer sentiment index fell about 6% in August, its first decline in four months, while Conference Board polling showed more people expect fewer jobs and potential income declines.
The weekend was a whirlwind of activity in the cryptocurrency world. Here?s a quick recap of the top stories that made headlines. Solana?s Potential Surge As Ethereum continues to hit record highs, the crypto market is abuzz with predictions of Solana reaching new all-time highs. Read the full article here.
It was a weekend filled with significant developments in the world of finance and technology. Despite the Federal Reserve?s potential plan for a rate cut in September, the bond market, particularly long-dated Treasuries, is not showing enthusiasm. Read the full article here. After a significant increase in market value,?Nvidia Corp.? is set to report its second-quarter earnings.
National Bank of Canada said Friday Laurentian Bank of Canada (LRCDF) beat its earnings per share estimate of $0.70 mainly due to provision for credit losses, offset by taxes. Analyst Gabriel Dechaine said the stronger-than-expected results were driven by $9 million in performing provision releases, compared with National Bank's expectation of $3 million in new provisions.
Carnival said late Friday it has completed the redemption of its remaining $322 million of its 5.750% senior unsecured notes due 2027. The company said the move reflected its momentum to strengthen its balance sheet and optimize its capital structure. MT Newswires does not provide investment advice.
Issuance for the week of Sept. 2 is at an estimated $7.457 billion, with $6.179 billion of negotiated deals and $1.278 billion of competitive deals on tap, according to LSEG.
Consumer stocks were mixed late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund increasing 0.7% and the Consumer Discretionary Select Sector SPDR Fund shedding 1.2%. The University of Michigan consumer sentiment index was revised lower to 58.2 for August from its preliminary estimate of 58.6, versus expectations for no revision in a survey compiled by Bloomberg.
Financial stocks edged higher in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising 0.1%. The Philadelphia Housing Index fell 0.3%, and the Real Estate Select Sector SPDR Fund added 0.4%. Bitcoin declined 3.7% to $108,424, and the yield for 10-year US Treasuries rose 2 basis points to 4.23%. In economic news, US consumer spending ro...
Consumer stocks were mixed late Friday afternoon, with the Consumer Staples Select Sector SPDR Fund increasing 0.7% and the Consumer Discretionary Select Sector SPDR Fund shedding 1.2%. The University of Michigan consumer sentiment index was revised lower to 58.2 for August from its preliminary estimate of 58.6, versus expectations for no revision in a survey compiled by Bloomberg.
Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund ahead 0.3%. The Philadelphia Housing Index was down 0.4%, and the Real Estate Select Sector SPDR Fund added 0.3%. Bitcoin was declining 3.7% to $108,424, and the yield for 10-year US Treasuries rose 2 basis points to 4.23%. In corporate news, Robinhoo...
In Canada, the release of the Labour Force Survey will be closely watched next Friday. Following the substantial pullback in July, National Bank anticipates that employment will stagnate in August, with the effects of tariffs likely being felt, especially in the manufacturing and trade sectors. The week will also feature the publication of the July merchandise trade balance on Thursday.
Philadelphia's economy has been growing. But deep cuts Pennsylvania may impose on the regional public transportion system could have serious negative impacts.
Weaker prospects for pharmaceutical giant Novo Nordisk A/S (NVO) have prompted Denmark's economic ministry to cut its 2025 GDP forecast, now expecting just 1.4% growth, down 1.5 percentage points from May's projection. Growth is seen rebounding to 2.1% in 2026, up 0.7 points.
Canadian GDP growth slowed sharply in the second quarter, coming in weaker than expected at -1.6% on an annualized quarter-over-quarter basis, following a strong 2% gain in the first quarter. The result was still broadly in line with the Bank of Canada's July forecast of -1.5% under its "current tariff scenario" and details were more mixed than headline figures suggest, writes RBC.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund ahead 0.5%. The Philadelphia Housing Index was down 0.5%, and the Real Estate Select Sector SPDR Fund added 0.3%. Bitcoin was declining 3.3% to $108,795, and the yield for 10-year US Treasuries was rising 2 basis points to 4.22%. In economic news, the pers...
US consumer sentiment fell in August amid concerns over economic health, while inflation expectations rebounded, final survey results from the University of Michigan showed Friday. The main sentiment index decreased to 58.2 this month from 61.7 in July. "Perceptions of many aspects of the economy slipped," Surveys of Consumers Director Joanne Hsu said in a statement.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund ahead 0.5%. The Philadelphia Housing Index was down 0.5%, and the Real Estate Select Sector SPDR Fund added 0.3%. Bitcoin was declining 3.3% to $108,795, and the yield for 10-year US Treasuries was rising 2 basis points to 4.22%. In corporate news, PayPal (PYPL) ...
Everything Blockchain Inc. (EBZT) has become one of the first U.S.-listed companies to adopt Flare's XRPFi framework for digital asset treasury management, the firm announced on Friday. The move positions EBZT alongside Nasdaq-listed VivoPower International (VVPR), which earlier this year committed $100 million in XRP to the same model.
RBC Capital Markets and National Bank of Canada maintained their outperform ratings on the shares of Cameco (CCJ) after the uranium miner cut its 2025 production guidance. The target price for the shares are $110.00 and $115.00 from RBC and National Bank, respectively.
US consumer spending rose in July at the fastest pace since March, while the Federal Reserve's preferred inflation metric increased annually to the highest level in five months, government data showed Friday. Personal consumption expenditures increased 0.5% last month, the Bureau of Economic Analysis reported.
The University of Michigan consumer sentiment index was revised slightly lower Friday to a reading of 58.2 for August from the 58.6 print in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:10 am ET. That was below the final reading of 61.7 in July.
Unlike at least two of his counterparts at other banks, TD's economist Rishi Sondhi is still unconvinced the Bank of Canada will cut interest rates in September, but might delay on it until later in the year instead, after today's Canadian GDP data.
Fitch Ratings said Friday that it has revised its outlook on Ryanair Holdings (RYAOF) to positive from stable and affirmed the airline's long-term issuer default rating at 'BBB+'. The revision shows Fitch's expectation that Ryanair (RYAOF) will maintain a strong financial profile, supported by Ryanair's (RYAOF) operating performance and positive free cash flow generation despite increased capex, the credit agency said.
Federal Reserve Gov. Christopher Waller criticized his fellow Federal Open Market Committee members for not cutting interest rates in July, but said he is "hopeful" that easing monetary policy soon can keep the labor market from "deteriorating."
As a result of today's headline miss for Q2 GDP and no signs of momentum heading into the third quarter, Desjardins is retaining its forecast that the Bank of Canada will resume its cutting cycle in September. Royce Mendes at Desjardins noted Government of Canada bond yields were falling, as analysts in the "no cut" camp revisit their assumptions and traders begin to price in more easing.
A weaker-than-expected trend in monthly GDP figures is supportive for CIBC's forecast of a September interest rate cut, although the bank notes that upcoming employment and CPI data will still be important for that call, Andrew Grantham said Friday.
An inflation reading closely tracked by the Federal Reserve climbed to its highest level since February, remaining stubbornly above the 2% target and raising new doubts around the timing of Jerome Powell's anticipated interest rate cuts.
BRP maintained its sector perform rating and $83 price target at National Bank of Canada, according to a note published on Friday. The bank maintained the rating and price target as it reviews its model for BRP. BRP's results include revenue of $1.89 billion that beat the bank's estimate of $1.75 billion and the consensus estimate of $1.79 billion.
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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