ADP's monthly measure of private payrolls showed a 54,000 increase in August, below expectations compiled by Bloomberg as of 7:30 am ET for an increase of 68,000. The August gain followed an upwardly revised 106,000 increase in July.
UBS said it kept its gross domestic product growth estimate for Canada unchanged at 2.0% for this year and 2026 after the economy expanded 1.2% in 2024. The consumer price index is forecast to slow down to 2.2% this year from 2.4% in 2024. UBS estimates the Bank of Canada policy rate at 2.75% at the end period of 2025 and 2026. MT Newswires does not provide investment advice.
The marquee project of many funded by next week's bond sale is the widening of the airport's Concourse D and the building of a Delta Sky Club lounge above it.?
Canada will release international merchandise trade data for July at 8:30 a.m. ET Thursday, Bank of Montreal said. The trade deficit is expected to narrow to C$4.5 billion in July, though it would remain in the red for a sixth straight month, the bank said.
European bourses tracked moderately higher midday Thursday as traders weighed easing global bond yields and prospects for rate-cuts from major central banks. Global crude oil prices also softened. Retail, tech and food stocks led broad market gains. Investors also eyed Wall Street futures modestly in the green, and mixed closes overnight on Asian exchanges.
Markets are preparing for pivotal U.S. labor market data, with jobless claims due Thursday and the non-farm payrolls report scheduled for Friday. Analysts say the figures will provide critical input for Federal Reserve policymakers, who are balancing persistent inflation pressures against signs of cooling employment.
The main US stock measures were trending higher in Thursday's premarket activity as a key jobs report pointed to a softening labor market, boosting expectations that the Federal Reserve could cut interest rates later this month. The S&P 500 rose 0.2% and the Nasdaq added 0.3% before the opening bell, while the Dow Jones Industrial Average was slightly in the green.
Wall Street futures pointed moderately higher pre-bell Thursday as interest rates eased marginally, and after a soft job openings report for July boosted the outlook for Federal Reserve rate cuts. Yields on 10-year US Treasuries held under 4.20% in morning action, down from nearly 4.30% on Wednesday. In the futures, the S&P 500 rose 0.2%, the Nasdaq inclined 0.3% and the Dow Jones was steady.
Canadian labor productivity fell in the second quarter for the fifth time in the past six quarters, Bank of Montreal said. Productivity declined 1% from the prior quarter, the biggest drop since 2022, as real gross domestic product contracted and hours worked edged higher, the bank said.
The World Gold Council , alongside law firm Linklaters and Hilltop Walk Consulting, has put forward a plan to overhaul the global gold market through a Wholesale Digital Gold ecosystem. The proposal arrives at a time of record gold prices. Traders point to a mix of macro and structural drivers, including sovereign debt concerns and doubts about central bank independence.
Commerzbank in its "European Sunrise" note Friday said: Markets: United States Treasuries were stable in late New York trading and in Asia after Wednesday's intraday rally. Federal Reserve: The Beige Book showed most districts reported little or no growth.
Iron Mountain said Thursday that it plans to launch an offering of 750 million euros aggregate principal amount of its senior notes due 2034. The company said the notes will be fully guaranteed by its subsidiaries that serve as obligors under each series of its existing notes.
Century Communities (CCS) said late Wednesday it priced a private offering of $500 million of 6.625% senior notes due 2033 at 100% of the principal, for about $494 million in expected net proceeds. The company expects the offering to close Sept. 17 and plans to use the net proceeds to help fund the planned redemption of $500 million of its 6.75% senior notes due 2027 outstanding.
Plains All American Pipeline (PAA) said late Wednesday it priced an underwritten public offering of $1.25 billion of notes. The offering consists of $700 million of 4.7% senior unsecured notes due 2031 priced at 99.865% of par value and $550 million of 5.6% senior unsecured notes due 2036 priced at 99.798% of par value.
Plains All American Pipeline, L.P. (PAA) today announced that it and PAA Finance Corp., a wholly owned subsidiary of PAA, as co-issuer, have priced an underwritten public offering of $1.25 billion aggregate principal amount of debt securities, consisting of $700 million aggregate principal amount of 4.70% senior unsecured notes due 2031 and $550 million aggregate principal amount of 5.60% senior unse...
The Nasdaq Composite and the S&P 500 advanced Wednesday, buoyed by a surge in Alphabet shares, while the latest labor market data boosted bets for an interest rate cut by the Federal Reserve later this month. The Nasdaq rose 1% to 21,497.7, while the S&P 500 climbed 0.5% to 6,448.3, both rebounding after two days of declines.
Gold has jumped above $3,500 per ounce this week, setting new records and solidifying its status as 2025?s top commodity. GLD ETF is looking shiny amid the political and geopolitical drama. For the first time since 1996, the collective holdings of global central banks in gold exceeded U.S. Treasurys, based on Bloomberg numbers gathered by Crescat Capital.
The S&P 500 and Nasdaq Composite rose after Alphabet shares jumped as the tech giant avoided a forced sale of its Chrome browser in an antitrust ruling, while weak jobs data bolstered bets for an interest-rate cut by the Federal Reserve.
Looking solely at internal factors, "the municipal market itself is still doing well, reasonably via the temporary drop in new issue supply amid a more lasting reduction in reinvestment flows," said Matt Fabian, a partner at Municipal Market Analytics.
Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each shedding about 0.4%. The Philadelphia Housing Index rose 0.3%, while the Real Estate Select Sector SPDR Fund declined 0.3%. Bitcoin added 0.7% to $111,955, and the yield on 10-year US Treasuries dropped nearly 7 basis points to 4.21%. In economic news, mo...
US economic activity and employment levels were little changed since July, while firms in most Federal Reserve districts expected price increases to continue in the coming months, the central bank said in its latest Beige Book released Wednesday.
Cleveland-Cliffs (CLF) said Wednesday it has increased and priced an offering of $850 million worth of senior unsecured notes due 2034, with annual interest rate of 7.63%. The steel producer plans to use the proceeds from the offering to refinance near term maturities and repay its borrowings. The offering is expected to close on Monday.
Financial stocks fell in late Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each shedding 0.5%. The Philadelphia Housing Index rose 0.3%, and the Real Estate Select Sector SPDR Fund declined 0.3%. Bitcoin gained 0.7% to $111,955, and the yield on 10-year US Treasuries dropped 3.9 basis points to 4.224%. In corporate news, Goldman Sachs' (GS) asse...
US job openings declined in July for the second month in a row, government data showed Wednesday, as markets awaited a key employment report due out later this week. Vacancies dropped to 7.18 million as of the last day of July from 7.36 million the month before, according to the Bureau of Labor Statistics' job openings and labor turnover survey.
St. Louis Fed President Alberto Musalem said that monetary policy is "modestly restrictive" and is appropriate given the still strong labor market and elevated inflation, but cautioned that there is considerable uncertainty to outlook, particularly downside risks to the employment mandate.
Small-cap stocks, which had been underperforming for months, are now gaining investor interest, with the iShares Russell 2000 ETF (IWM) drawing $1.5 billion in new inflows last week, according to FactSet data cited by Etf.com. The rally followed the Fed Chairman Jerome Powell?s speech at Jackson Hole, which indicated that the Federal Reserve might cut interest rates in September, reviving hopes...
The US economy showed little or no change in most Federal Reserve districts over the recent period, the Federal Reserve's Beige Book report, a summary of economic conditions released Wednesday, showed.
US benchmark equity indexes were mixed intraday, with the S&P 500 buoyed by a surge in Alphabet shares, while markets parsed remarks by Federal Reserve officials.
Gold traded at a record high midafternoon on Wednesday, topping US$3,600 an ounce for the first time as traders bet on a Federal Reserve rate cut and safe-haven buying rises amid stagflation concerns.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.5% and the Financial Select Sector SPDR Fund shedding 0.6%. The Philadelphia Housing Index rose 0.6%, and the Real Estate Select Sector SPDR Fund was down 0.4%. Bitcoin was increasing 1.4% to $112,341, and the yield for 10-year US Treasuries was dropping 7 basis points to 4.21%. In economic new...
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each shedding 0.6%. The Philadelphia Housing Index rose 0.6%, and the Real Estate Select Sector SPDR Fund was down 0.3%. Bitcoin was increasing 1.4% to $112,270, and the yield for 10-year US Treasuries was dropping 7.4 basis points to 4.20%. In corporate news,...
The U.S. Federal Reserve will host a payments innovation conference on Oct. 21, with a central focus on the convergence of traditional and decentralized finance. The agenda also includes discussions on stablecoins, artificial intelligence in payments, and the tokenization of financial products.
With a large number of European Central Bank officials having returned from the summer break with rather hawkish comments, ING said it's folding and expects the ECB to stay on hold at next week's policy meeting. Still, an ECB rate cut next week or later this year shouldn't be entirely ruled out, wrote the bank in a note.
UBS thinks the European Central Bank's easing cycle has ended and expects the ECB to keep the depo rate unchanged at 2% on Sept. 11. The bank estimates the ECB to reiterate that, with rates at 2%, it sees itself "in a good place" and to signal that it will maintain a data-dependent, meeting-by-meeting approach.
Two Federal Reserve bank presidents, Alberto Musalem and Raphael Bostic, both said Wednesday that the Fed's policy rate remains only slightly restrictive, saying that even recent employment data do not give a signal that the labor market is cooling drastically.
Poland's central bank said Wednesday its Monetary Policy Council decided to reduce interest rates by 25bps, as expected: -- reference rate at 4.75% on an annual basis; -- lombard rate at 5.25% on an annual basis; -- deposit rate at 4.25% on an annual basis; -- rediscount rate at 4.80% on an annual basis; -- discount rate 4.85% on an annual basis. MT Newswires does not provide investment advice.
Canada will release the Labour Force Survey for August on Friday at 8:30 a.m. ET, Scotiabank said. The report could influence market pricing as the last jobs data before the Bank of Canada's Sept. 17 policy decision, the bank said.
"Ozi's focus on building lasting relationships and his prudent risk management make him well-suited for this leadership role," said Charles Peck, Wells Fargo's (WFC) head of municipal products.
Gold rose to a record high early Wednesday, topping US$3,600 an ounce for the first time as traders bet on Federal Reserve rate cuts and sought safe-haven assets amid stagflation concerns.
At least the latest growth data doesn't suggest that Sweden's Riksbank will cut interest rates anytime soon, said Commerzbank. Growth picked up nicely in Q2, supporting the Riksbank's expectations of an economic recovery, wrote the bank in a note to clients. The picture is similar for leading indicators, stated Commerzbank.
"It doesn't take but one comment or one market-moving data point to cause ETFs to shift the market pretty considerably," said Ajay Thomas, head of public finance at FHN Financial.
The Westin Chicago Lombard's owner is returning to market with unrated bonds designed to cure payment defaults on debt issued to exit bankruptcy in 2018.
The US dollar was mixed against its major trading partners early Wednesday -- up versus the yen and Canadian dollar, down versus the euro and pound -- ahead of the release of weekly Redbook same-store sales at 8:55 am ET. Factory orders and job openings data for July are due to be released at 10:00 am ET before Federal Reserve events later in the day.
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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