Financial stocks advanced in Thursday afternoon trading, with the NYSE Financial Index rising 0.6% and the Financial Select Sector SPDR Fund adding 0.8%. The Philadelphia Housing Index climbed 1.9%, and the Real Estate Select Sector SPDR Fund eased 0.1%. Bitcoin fell 2.1% to $109,437, and the yield for 10-year US Treasuries dropped 3.5 basis points to 4.18%. In economic news, the US Department ...
Stephen Miran will take unpaid leave from and might seek to return to President Trump's Council of Economic Advisers, he said, raising conflict of interest questions in his nomination hearing for a seat on the Federal Reserve Board.
The US trade deficit widened to the largest in four months in July as imports soared, while the goods trade gap with China and Canada grew, government data showed Thursday. The goods and services deficit increased by about 33% sequentially to $78.31 billion in July on a seasonally adjusted basis, the biggest jump in six months, the Census Bureau and the Bureau of Economic Analysis said.
Financial stocks advanced in Thursday afternoon trading with the NYSE Financial Index rising 0.6% and the Financial Select Sector SPDR Fund adding 0.8%. The Philadelphia Housing Index climbed 1.9%, and the Real Estate Select Sector SPDR Fund eased 0.1%. Bitcoin fell 2.1% to $109,437, and the yield for 10-year US Treasuries dropped 3.5 basis points to 4.18%. In corporate news, Goldman Sachs (GS) plan...
The US services sector saw continued growth in August, though there were tariff-related inflation concerns among firms, two separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed Thursday. The ISM's purchasing managers' index rose to 52 last month from 50.1 in July.
With monetary policy "modestly restrictive," it would be appropriate for the Federal Open Market Committee to reduce the target for the federal funds rate gradually, New York Federal Reserve President John Williams said Thursday at the Economic Club of New York.
US benchmark stock indexes rose in midday trading on Thursday as investors digested economic data ahead of Friday's August employment report that could potentially boost hopes for a rate cut this month.
Canada's merchandise trade deficit narrowed in July, with exports rising for the third consecutive month following April's collapse, said National Bank of Canada. This increase was partly due to the energy products category, where higher prices and volumes pushed shipments to their highest level in four months, noted the bank after Thursday's data.
Australia's Q2 gross domestic product rose 0.6% quarter over quarter and 1.8% year over year, beating market. expectations of 0.4% quarter over quarter, said UBS. Growth in the previous quarter was also revised higher.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.50%. ?Mortgage rates continue to trend down, increasing optimism for new buyers and current owners alike,? said Sam Khater, Freddie Mac?s Chief Economist.
Canadian exports and the goods trade deficit began to stabilize in July, although at weaker levels than prevailed before United States tariffs and related uncertainty took hold, said CIBC. The deficit in goods trade was $4.9 billion in July, which was around $1 billion narrower than in the prior month and also slimmer than the consensus forecast of $5.3 billion, noted the bank.
Bank of Montreal said it has noted for a while now that "the kids aren't alright" when it comes to youth/student job market conditions in Canada. As to the parents, inflation for education-related items continues to outpace the broader consumer price index and has done so steadily since 2000, stated the bank.
Bitcoin has outperformed other asset classes over the past decade, though market commentators highlighted its significantly higher volatility. What Happened: In a post on X on Sep. 1, macro investor Krueger compared the nominal and inflation-adjusted returns of Bitcoin from 2014?2024 to those of the S&P 500, Nasdaq, gold, U.S. real estate, and 10-year Treasury bonds.
Canada's merchandise trade deficit narrowed to C$4.9 billion in July from $6 billion in June as exports rose 0.9% from the prior month, extending a three-month string of modest gains after the April plunge, Bank of Montreal said. Auto exports climbed 6.6% in July, helped by seasonal adjustment.
The Institute for Supply Management's US services index rose to a reading of 52.0 in August from 50.1 in July, compared with expectations for a smaller gain to a reading of 51.0 in a survey compiled by Bloomberg as of 7:30 am ET.
Canada's trade deficit narrowed from a revised $6.0 billion in June to $4.9 billion in July, said TD after the release of the data on Thursday. Exports rebounded for a third consecutive month, although modestly, as a jump in exports to the United States was offset by an 8.6% month-over-month decline to non-U.S. markets, noted the bank.
Canada's merchandise trade deficit with the world narrowed, and trade surplus with the United States widened in July, the nation's statistics agency, Statistics Canada, said Thursday. Statistics Canada noted the global deficit narrowed to $4.9 billion in July from $6.0 billion in June as merchandise exports rose 0.9%, while imports were down 0.7% month over month.
Canadian exports and the goods trade deficit began to stabilize in July, albeit at weaker levels than prevailed before United States tariffs and related uncertainty took hold, said CIBC on Thursday. The deficit in goods trade was $4.9 billion, which was around $1 billion narrower than in the prior month and also slimmer than the consensus forecast of $5.3 billion, noted the bank.
US initial jobless claims rose to a level of 237,000 in the week ended Aug. 30 from a 229,000 level in the previous week, compared with expectations for a smaller increase to 230,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET. The four-week moving average increased by 2,500 to 231,000 after increasing by 2,500 to a level of 228,500 in the previous week.
The US international trade deficit widened to $78.31 billion in July from a $59.09 billion gap in June, compared with the $77.9 billion gap expected in a survey compiled by Bloomberg as of 7:30 am ET. Imports rose more than exports, widening the deficit.
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.
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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