The Bank of Canada is set to resume cutting interest rates next week in the wake of a large gross domestic product contraction in Q2 and rising unemployment, said ING. The BoC is slated to release its policy statement at 9:45 a.m. ET Wednesday. Tariffs will continue to weigh on the economy, and with inflation broadly in line with target, ING looks for a 25bps cut, with a further 25bps cut this Q4.
The appelate ruling in favor of the San Juan Unified School District helps clarify what districts can finance under the state laws governing bond elections.
The week is ending with a cautious mood across markets ahead of a week packed with global central bank decisions, said Scotiabank. The Bank of Canada is slated to release its policy statement at 9:45 a.m. ET on Wednesday. Bonds and stocks are both slightly cheapening early Friday, noted the bank.
European bourses tracked sideways midday Friday as traders weighed global easing central-bank postures against geopolitical tensions in the Middle East and Eastern Europe. Property and tech stocks led muted gains, while oil issues lagged.
The benchmark US stock measures were mostly tracking in the red before Friday's open amid increasing investor expectations that the Federal Reserve will lower rates next week following the latest inflation and labor data. The S&P 500 edged down 0.1% and the Dow Jones Industrial Average was off 0.2% in premarket activity, while the Nasdaq was slightly in the green.
Societe Generale in its early Friday economic news summary pointed out: -- US dollar off lows in Asia, 10-year United States Treasury yield recovers from dip below 4.0%. Above forecast increase in weekly jobless claims, tame August core consumer price index cement rate cut next week at the Federal Reserve. -- U.S.-Japan finance ministers joint statement -- commit to transparent currency policies.
Asian stock markets rallied Friday on growing expectations that the US Federal Reserve will cut interest rates at its policy meeting next week. Hong Kong, Shanghai, and Tokyo finished in the green, as did most other regional exchanges. In Japan, the Nikkei 225 finished up 0.9% as traders bought shares related to AI and semiconductor markets.
American Tower (AMT) said late Thursday it priced a public offering of $200 million of senior unsecured notes due 2030 and $375 million of senior unsecured notes due 2035.
US equity indexes hit records on Thursday as the Federal Reserve is expected to focus more on weakness in the labor market than seemingly hot consumer price inflation when it resumes policy easing next week.
US equity indexes rose to fresh record highs Thursday after a sharp increase in weekly jobless claims increased the likelihood of three interest rate cuts by year's end. * Initial jobless claims increased to 263,000 for the week ended Sept. 6, up from a revised 236,000 the prior week, exceeding the 235,000 forecast in a Bloomberg survey, and reaching the highest level since October 2021.
Shares of UWM Holdings Corp (UWMC) are trading higher Thursday afternoon. What To Know: This morning?s economic releases showed a surprising jump in jobless claims to 263,000, the highest level since 2021, signaling a potential cooling in the labor market. This stagflationary environment puts the Federal Reserve in a difficult position.
US equity indexes rise ahead of the close on Thursday amid expectations that the Federal Reserve will look past the seemingly hot August consumer price inflation print and focus more on surging jobless claims.
Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1.3% and the Financial Select Sector SPDR Fund ahead 1.6%. The Philadelphia Housing Index was climbing 2.3%, and the Real Estate Select Sector SPDR Fund was adding 1.6%. Bitcoin was increasing 0.3% to $114,279, and the yield for 10-year US Treasuries shed 2 basis points to 4.01%. In economic ne...
Sanchez cited affordable housing and "project-based" types of transactions as areas "where we are seeing ? lawyers more openly engaging in structuring that might be problematic."?
Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1.3% and the Financial Select Sector SPDR Fund ahead 1.6%. The Philadelphia Housing Index was climbing 2.3%, and the Real Estate Select Sector SPDR Fund was adding 1.6%. Bitcoin was increasing 0.3% to $114,279, and the yield for 10-year US Treasuries shed 2 basis points to 4.01%. In economic ne...
The consumer price index rose by 0.4% in August, above expectations for a 0.3% gain, and was up 0.3% excluding food and energy prices, as expected. The gain lifted the year-over-year increase to 2.9% from 2.7% in July, while the core measure was up 3.1% year-over-year, the same as in the previous month.
The rating agency's review was triggered by the city's move to effectively end plans for a seawater desalination project that has $235 million of bonds outstanding.
US benchmark equity indexes were higher intraday following the release of consumer inflation and jobless claims data. The Dow Jones Industrial Average was up 1.4% at 46,104 after midday Thursday, while the S&P 500 rose 0.8% to 6,581.3. The Nasdaq Composite advanced 0.6% to 22,024.
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.
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.
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.
Log In Required
Publication Date