Dream Finders Homes (DFH) said late Tuesday it priced a private offering of $300 million of 6.875% senior unsecured notes due 2030. The company expects net proceeds of about $295 million, which will be used to repay a portion of borrowings under its existing revolving credit facility and for general corporate purposes. The offering is expected to close on Friday, the company said.
Kodiak Gas Services (KGS) said late Tuesday that a subsidiary has priced a private offering of $600 million of 6.500% senior unsecured notes due 2033 and another $600 million of 6.750% senior unsecured notes due 2035 at par. Net proceeds will be used to repay a portion of debt under its asset-based loan credit facility, the company said. MT Newswires does not provide investment advice.
FOR IMMEDIATE RELEASE:??The Las Vegas Global Economic Alliance, Southern Nevada?s leading economic development organization, has attracted top talent over the past quarter, adding four new professionals to its leadership team.
SoFi Technologies Inc (SOFI) shares are trading lower on Tuesday afternoon amid overall market weakness. SOFI shares are experiencing downward pressure.?See how it is currently doing here. What To Know: The yield on the benchmark 10-year U.S. Treasury note continued its ascent to around the 4.3% level, a key factor weighing on equities.
Circle Internet Group Inc (CRCL) shares are trading sharply lower on Tuesday afternoon, caught in a broader market downturn fueled by a rise in Treasury yields. See how CRCL stock is doing here.
US equity indexes declined ahead of the close on Tuesday, following gains in government bond yields, gold, and the dollar. The Nasdaq Composite slumped 0.9% to 21,256.1, with the S&P 500 down 0.8% to 6,407.3, and the Dow Jones Industrial Average 0.7% lower at 45,246.5. All sectors except energy, consumer staples and health care fell intraday, with real estate and industrials leading the decliners.
Financial stocks dropped in late Tuesday afternoon trading with the NYSE Financial Index falling 1.2% and the Financial Select Sector SPDR Fund declining 1.1%. The Philadelphia Housing Index shed 0.9%, and the Real Estate Select Sector SPDR Fund slumped 2%. Bitcoin rose 1.4% to $110,809, and the yield for 10-year US Treasuries gained 5 basis points to 4.28%. In economic news, the US will appeal...
Financial stocks were retreating in late Tuesday afternoon trading, with the NYSE Financial Index falling 1.2% and the Financial Select Sector SPDR Fund declining 1.1%. The Philadelphia Housing Index was down 0.9%, and the Real Estate Select Sector SPDR Fund was shedding 2%. Bitcoin was increasing 1.4% to $110,809, and the yield for 10-year US Treasuries rose 5 basis points to 4.28%. In economi...
U.S. manufacturing contracted for a sixth consecutive month in August, with the ISM manufacturing purchasing managers index easing back to 48.7 from 48.0 in July, indicating continued weakness in traditional industrial activity. Tariffs and sluggish demand continue to weigh on output, pressuring employment and production.
A federal judge in New York dismissed on Tuesday an antitrust lawsuit that accused 10 large financial institutions of "unlawfully restraining the secondary corporate bond market." Bank of America (BAC), JPMorgan Chase (JPM), Barclays (BCS), Credit Suisse, which is now part of UBS, Deutsche Bank (DB), Goldman Sachs (GS), Morgan Stanley (MS), NatWest (NWG), Wells Fargo (WFC) and Citigroup (C) were all named as defendants in the case.
Aleon Metals, along with its subsidiaries, which sold more than $300 million of tax-exempt revenue bonds since 2019, filed Chapter 11 bankruptcies in August.
Amazon.com Inc (AMZN) stock is down Tuesday afternoon amid overall market weakness. What To Know: The sell-off in growth sectors is directly linked to the ascent of the 10-year Treasury yield, which climbed to 4.29%. For companies like Amazon (AMZN), which are valued based on the promise of robust future earnings, higher yields on government bonds present a significant headwind.
Financial stocks were retreating in Tuesday afternoon trading, with the NYSE Financial Index falling 1.4% and the Financial Select Sector SPDR Fund declining 1.2%. The Philadelphia Housing Index was down 0.9%, and the Real Estate Select Sector SPDR Fund was shedding 1.5%. Bitcoin was increasing 1.3% to $110,721, and the yield for 10-year US Treasuries rose 6 basis points to 4.29%. In economic n...
"Another set of eyes helps improve the deal for everybody, including the borrower, because the borrower is going to want a successful venture too," said John Miller, head and chief investment officer of First Eagle's municipal credit team.
Shares of Quantum Computing Inc (QUBT) are caught in a broader market selloff Tuesday as rising U.S. Treasury yields spook investors away from growth sectors. The benchmark 10-year Treasury note climbed to 4.293% Tuesday morning, pulling capital away from growth sectors.
Shares of AI infrastructure provider CoreWeave Inc (CRWV) are trading lower Tuesday, caught in a broader market downdraft affecting high-growth technology stocks. What To Know: The pressure appears linked to rising long-term interest rates, with the 10-year Treasury yield climbing to 4.29%, making future earnings for high-P/E companies seem less attractive to investors.
Two surveys released Tuesday painted a mixed picture of the US manufacturing sector for August, with Institute for Supply Management data showing continued contraction and an S&P Global (SPGI) report pointing to a rebound to expansion. The ISM purchasing managers' index improved to 48.7 last month from 48 in July, but marked a sixth straight contraction.
US equity indexes headed lower after midday on Tuesday amid a sharp move higher in government bond yields, gold futures, and the dollar. The Nasdaq Composite slumped 1.6% to 21,117.3, with the S&P 500 down 1.3% to 6,378.4, and the Dow Jones Industrial Average 1% lower at 45,103.8. All sectors except energy fell intraday, with technology, real estate and industrials leading the decliners.
Super Micro Computer Inc (SMCI) shares are trading lower Tuesday, caught in a downdraft affecting the broader semiconductor and high-growth technology sectors. What To Know: The surge in long-term interest rates, with the 10-year Treasury note yielding 4.29%, has made investors reassess the high valuations of growth-oriented companies.
Financial stocks were retreating in Tuesday afternoon trading, with the NYSE Financial Index falling 1.4% and the Financial Select Sector SPDR Fund dropping 1.2%. The Philadelphia Housing Index was down 0.9%, and the Real Estate Select Sector SPDR Fund was shedding 1.5%. Bitcoin was increasing 1.3% to $110,721, and the yield for 10-year US Treasuries rose 6 basis points to 4.29%. In corporate n...
Special budget sessions, falling tax revenues and provisions in the One Big Beautiful Bill Act are combining with tariffs and cuts to the federal workforce to create headaches for the states.
The Canadian economy performed much weaker than expected in Q2 as real gross domestic product contracted at a 1.6% annual rate, which was more than double the 0.7% consensus view, said Rosenberg Research after Friday's data. This was the first decline since Q3 2023, and the steepest drop since Q2 2020, noted Rosenberg Research.
Canada's manufacturing economy continued to struggle in the face of tariffs and uncertainty in August, although, somewhat positively, to a noticeably lesser degree than earlier in the year, said Paul Smith, economics director at S&P Global Market Intelligence.
NVIDIA Corp (NVDA) stock is trading lower Tuesday, caught in a broader tech sell-off as rising long-term interest rates spook investors. What To Know: The chipmaker's shares are lower in Tuesday trading as the 10-year Treasury yield climbed to 4.29%, creating pressure on high-growth, high P/E stocks.
Canada will publish its international merchandise trade figure for July on Thursday, at 8:30 a.m. ET, noted RBC. The Canadian trade deficit likely narrowed in July from elevated levels in Q2, including a record large deficit in April as United States imports plunged after a surge to build inventories ahead of tariffs in Q1, said the bank.
The Institute for Supply Management's US manufacturing index rose to 48.7 in August from 48.0 in July, compared with expectations for a 49.0 reading in a survey compiled by Bloomberg as of 7:35 am ET. There were increases in the readings for new orders and employment but declines for production and prices.
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.
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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