Financial stocks were higher in Thursday afternoon trading, with the NYSE Financial Index rising 1.3% and the Financial Select Sector SPDR Fund ahead 1.5%. The Philadelphia Housing Index was climbing 2.4%, and the Real Estate Select Sector SPDR Fund was adding 1.2%. Bitcoin was increasing 0.9% to $114,571, and the yield for 10-year US Treasuries was shedding 3 basis points to 4.01%. In economic...
Even with weak real GDP momentum and further deterioration of labor market conditions, surveys show that Canadian consumer price index inflation is unlikely to fall "significantly," said Laurentian Bank Securities. This rules out a 50 basis points cut in a single meeting or a Bank of Canada terminal rate closer to 1.0%-1.5%, noted the bank.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 1.2% and the Financial Select Sector SPDR Fund ahead 1.4%. The Philadelphia Housing Index was climbing 2.3%, and the Real Estate Select Sector SPDR Fund was adding 1.2%. Bitcoin was increasing 0.5% to $114,480, and the yield for 10-year US Treasuries was shedding 3 basis points to 4.01%. In econo...
US equity indexes rose after midday Thursday as a surge in odds favoring three interest-rate cuts this year implied the market expects the Federal Reserve to look past the steady core inflation print and focus more on surging jobless claims.
Weekly applications for unemployment insurance in the US hit a nearly four-year high, government data showed Thursday, adding to signs that have ignited fears about a slowdown in the labor market. For the week ended Sept. 6, the seasonally adjusted number of initial claims increased to 263,000, its highest reading since Oct. 23, 2021, the Department of Labor said.
Uzbekistan's central bank on Thursday said it kept its policy rate unchanged at 14.0%. Economic growth and consumer demand in Q2 continued to impact the rise in prices, wrote CBU in its policy statement. Although August's inflation slightly slowed down to 8.8% year over year with respect to July, the central bank added it maintained the rate unchanged to reduce inflationary pressures.
Initial jobless claims surged to 263,000 last week ? the highest in 4 years ? signaling weakening growth and bringing stagflation fears to the forefront.
Ukraine's central bank on Thursday said its Board decided to keep its key policy rate at 15.5%. The decision will maintain proper monetary conditions necessary for the sustainability of the currency market and controllability of expectations, as well as for bringing inflation to the 5% target, NBU wrote in its policy statement.
All three major US stock indexes were up in late-morning trading Thursday, as the latest batch of inflation data did nothing to dissuade investor sentiment that the Federal Reserve will cut interest rates next week.
The European stock markets closed higher in Thursday trading as the Stoxx Europe 600 rose 0.51%, Germany's DAX gained 0.26%, the FTSE 100 increased 0.78%, France's CAC advanced 0.80%, and the Swiss Market Index was up 0.62%. The European Central Bank said Thursday it is keeping its three key interest rates unchanged at 2.00% for the deposit facility, 2.15% for main refinancing operations, and 2...
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.35%. ?The 30-year fixed-rate mortgage fell 15 basis points from last week, the largest weekly drop in the past year,? said Sam Khater, Freddie Mac?s Chief Economist.
The Organization of the Petroleum Exporting Countries on Thursday maintained its global oil demand projections, saying the world economy appeared to remain on course for robust expansion. The cartel continues to expect oil consumption to rise by 1.29 million barrels a day this year and 1.38 million barrels a day in 2026, according to its monthly report.
With market attention increasingly turning towards inflation in the United Kingdom -- given the recent ascent in the consumer price index -- Deutsche Bank said it expects some retracement in services inflation as the effects of the late July index collection period wane.
K92 Mining (KNTNF) retained its outperform rating and $22 price target at National Bank of Canada after the company reported Thursday the latest results of its exploration program in Papua New Guinea.
Bitcoin is holding around $114,000 after the latest inflation data release, sparking debate over whether more upside is ahead. What Happened: In his latest X post, trader Astronomer reiterated confidence that BTC set its cycle low at $110,000 in late August, citing confluences including the historic pattern of FOMC-driven reversals.
The White House has appealed a D.C. District Court ruling allowing Federal Reserve Gov. Lisa Cook to remain on the Fed board pending the outcome of her challenge to President Trump's moves to fire her.
Foran Mining (FMCXF) maintained its outperform rating with a speculative risk and $4.25 price target at National Bank of Canada after the company said Thursday said it has been approved to earn up to $70 million in transferrable royalty tax credits through the government of Saskatchewan's Critical Minerals Processing Investment Incentive.
By reiterating the message that European Central Bank policy is "in a good place," President Christine Lagarde on Thursday moved further towards Berenbeg's call that the eurozone easing cycle is over. A slight downward revision to the 2027 inflation forecast gave the new staff projections a slightly dovish feel, but Lagarde was quick to play this down, noted the bank.
Turkey's central bank Thursday said its Monetary Policy Committee cut the one-week repo auction rate by 250 basis points to 40.5% from 43.0%. Commerzbank noted before the decision that most analysts had expected a 200-basis-point reduction.
US consumer inflation accelerated at the fastest pace in seven months in August, while the annual core rate remained above 3% as markets continued to expect an interest rate cut next week. The consumer price index climbed 0.4% month on month in August, up from a 0.2% gain in the month prior and representing the highest level since January, the Bureau of Labor Statistics reported Thursday.
Gold futures fell for a second straight session early Thursday even as the dollar weakened, after a higher-than-expected rise in U.S. consumer prices failed to dent expectations for a Federal Reserve rate cut next week.
Definity Financial Corporation (DFYFF) said Thursday it intends to issue $1 billion aggregate principal amount of senior unsecured notes in two series by way of private placement to accredited investors in Canada.
Thursday's economic releases revealed an unusual mix of rising prices and a spike in jobless claims ? a toxic cocktail that thrusts the U.S. economy into a stagflationary environment and places the Federal Reserve in one of the toughest positions a central bank can face.
The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.4% in August, above expectations for a 0.3% increase as of 7:30 am ET and following a 0.2% gain in July, according to data released Tuesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.3%, as expected and the same as in the previous month.
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.
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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