US initial jobless claims rose to a level of 263,000 in the week ended Sept. 6 from a downwardly revised 236,000 level in the previous week, compared with expectations for a level of 235,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET. Initial claims were at their highest level since the week ended Oct. 23, 2021, when it was 268,000.
European bourses tracked moderately higher midday as traders awaited a rate decision from the European Central Bank, and the latest US inflation report. Retail and oil stocks led gainers, while property and tech issues were flat.
The main event on Thursday will be the European Central Bank's latest policy meeting, said MUFG. Ahead of the meeting, the euro has been consolidating against both the US dollar and sterling, wrote the bank in a note to clients. At Thursday's policy meeting the ECB is expected to leave its policy rate on hold for the second consecutive meeting, stated MUFG.
The US dollar rose against its major trading partners early Thursday ahead of the release of consumer price data for August and weekly jobless claims, both at 8:30 am ET. The weekly natural gas stocks report is due out at 10:30 am ET and the US Treasury is expected to issue its monthly budget report for August at 2:00 pm ET.
Enovix (ENVX) said Thursday it priced a $300 million private offering of 4.75% convertible senior notes due Sept. 15, 2030, for about $290.4 million in expected net proceeds. Initial purchasers have an option to buy up to an additional $60 million of the notes. The company expects the offering to close Monday and plans to use the net proceeds to fund certain capped call transactions, among other things.
Laurentian Bank Securities said elevated global structural shocks have kept Canada's total and core consumer price index inflation high, complicating the Bank of Canada's policy decisions. In late 2024 and early 2025, the bank projected the BoC's terminal rate would reach 3% by spring 2025, even as households and businesses curbed spending on uncertainty.
Societe Generale in its early Thursday economic news summary pointed out: -- US dollar bid in tight range ahead of the consumer price index, 10-year United States Treasury closing in on 4.0% after the downside surprise for the producer price index, support 4.04%/3.95%, resistance 4.18%. 10-year UST auction solid: stop through 1.3bps, non-dealer bidding record 95.8%. UST 2y/10y flattens to 50bps.
Goldman Sachs (GS) is pushing US regulators to allow it and other big banks that sell corporate bonds on investors' behalf to delay public reporting of their largest trades, Reuters reported Wednesday, citing an internal white paper from the lender.
The CNN Money Fear and Greed index showed some decline in the overall market sentiment, while the index remained in the ?Neutral? zone on Wednesday. U.S. stocks settled mixed on Wednesday, with the Dow Jones index falling more than 200 points during the session. The Producer Price Index slipped 0.1% in August, defying expectations for a 0.3% increase.
Light & Wonder (LNW) said Wednesday its unit Light and Wonder International has priced $1 billion of 6.25% senior unsecured notes due 2033 in a private offering.
The S&P 500 and the Nasdaq Composite reached new peaks for the second consecutive session on Wednesday as markets assessed a surprise drop in producer prices ahead of consumer inflation data. The S&P 500 rose 0.3% to 6,532, while the Nasdaq Composite eked out a marginal gain to finish at 21,886.1 -- both fresh closing highs.
US equity indexes were mixed as the S&P 500 and the Nasdaq Composite hit new all-time highs on Wednesday, but pared gains after a reading on wholesale prices unexpectedly declined. * The Bureau of Labor Statistics reported Wednesday that the producer price index fell 0.1% in August, following a downwardly revised 0.7% rise in July, compared with a Bloomberg survey forecast of a 0.3% gain.
US equity indexes were mixed ahead of Wednesday's close as a sharp decline in consumer discretionary shares -- ahead of consumer price inflation -- offset much of the tech-driven gains. The Nasdaq Composite fell 0.2% to 21,831.1, after scaling a new peak of 22,000.97 earlier in the session.
Financial stocks were declining in late Wednesday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund down 0.5%. The Philadelphia Housing Index was shedding 0.5%, and the Real Estate Select Sector SPDR Fund was easing 0.1%. Bitcoin was increasing 1.6% to $113,302, and the yield for 10-year US Treasuries was dropping 4 basis points to 4.0...
Financial stocks were declining in late Wednesday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund down 0.5%. The Philadelphia Housing Index was shedding 0.5%, and the Real Estate Select Sector SPDR Fund was easing 0.1%. Bitcoin was increasing 1.6% to $113,302, and the yield for 10-year US Treasuries was dropping 4 basis points to 4.0...
US benchmark equity indexes were mixed intraday as traders weighed a report showing a surprise drop in August producer prices, while Oracle shares soared on demand momentum. The S&P 500 was up 0.3% at 6,534.3 after midday Wednesday, while the Nasdaq Composite rose 0.1% to 21,903.5. The Dow Jones Industrial Average fell 0.5% to 45,463.8. On Tuesday, all three indexes closed at all-time highs.
The US Consumer Price Index is expected to rise by 0.3% in August after a 0.2% gain in July, according to a survey compiled by Bloomberg, while the year-over-year rate is forecast to accelerate to 2.9% from 2.7%. The CPI data are scheduled to be released at 8:30 am ET Thursday.
Gold traded at a record high for a third-straight day midafternoon on Wednesday, edging up after a report showed U.S. wholesale prices unexpectedly fell in August, clearing the way for the Federal Reserve to cut interest rates next week. Gold for December delivery was last seen up US$1.90 to US$3.384.10 per ounce, rising off Tuesday's record close.
Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund off 0.3%. The Philadelphia Housing Index was shedding 0.7%, and the Real Estate Select Sector SPDR Fund was adding 0.1%. Bitcoin was increasing 2.3% to $113,685, and the yield for 10-year US Treasuries was dropping 4.2 basis points to 4.03%. In economic new...
The Federal Home Loan Bank of San Francisco announced today that it has awarded $8 million in economic development grants under the Access to Housing?and Economic Assistance for?Development program.
Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund off 0.2%. The Philadelphia Housing Index was shedding 0.3%, and the Real Estate Select Sector SPDR Fund was adding 0.3%. Bitcoin was increasing 2.1% to $113,864, and the yield for 10-year US Treasuries was dropping 3 basis points to 4.05%. In economic news,...
The Bank of Israel lowered its 2025 gross domestic product to 3.3% from 3.5% in July on the back of a downward adjustment to private consumption and exports, noted UBS. The bank calculates the first-round GDP impact of the 15% United States reciprocal tariffs at 0.4% of GDP. Headline inflation fell to 3.1% year over year in July, but core rose back to 3.4% year over year.
The Toronto Stock Exchange is up near 100 points with miners and energy, up 1.2%, the biggest gainers. Telecoms, down 1%, is the biggest decliner. BMO Economics, in its morning note, said the market continues to focus on softer growth and job market conditions ahead, and is fully pricing in a 25 bp rate cut by the Federal Reserve on September 17th, with 100 bps of easing through April 2026.
A sharper-than-expected drop in U.S. producer prices is bolstering expectations for rate cuts, but with Wednesday's Consumer Price Index on deck, investors will need to brace for a potentially stickier inflation picture. Economists forecast that the August Consumer Price Index will show headline inflation climbing to 2.9% year-over-year, up from 2.7% in July.
Royal Bank of Canada Wednesday announced enhancements to the WestJet RBC World Elite Mastercard and WestJet RBC Mastercard. Starting Nov. 5, cardholders will earn WestJet points faster on everyday purchases and receive expanded travel benefits and insurance options.
The Central Bank of Chile paused its easing cycle, keeping rates steady at 4.75% during Tuesday's meeting, citing higher-than-expected core inflation, said Societe Generale.
US producer prices fell for the first time in four months in August, defying Wall Street's expectations for a rise and possibly giving the Federal Reserve extra leeway to cut interest rates next week. The producer price index ticked down 0.1% on a seasonally adjusted basis last month, after a downwardly revised 0.7% increase in July, the Bureau of Labor Statistics reported Wednesday.
Light & Wonder (LNW) said Wednesday that its unit, Light and Wonder International, plans to offer $1 billion in senior unsecured notes due 2033 in a private offering. Net proceeds from the offering will be used to repay borrowings under the unit's revolving credit facility, redeem $700 million of its 7% senior unsecured notes due 2028, and for general corporate purposes, the company said.
Gold traded at a record high for a third-straight day early on Wednesday after a report showed U.S. wholesale prices unexpectedly fell in August, clearing the way for the Federal Reserve to cut interest rates next week. Gold for December delivery was last seen up US$4.20 to US$3.386.40 per ounce, rising off Tuesday's record close.
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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