Last week was a quiet one for domestic data, which gave some time for markets to assess economic conditions before this Wednesday's Bank of Canada rate decision, said TD.
Scotiabank said it has more evidence of traction on the interest sensitives in Canada in a lagging response to rate cuts after the Canadian Real Estate Association released August's data on Monday. Canada registered a fourth consecutive monthly gain in seasonally adjusted existing home sales during August.
T. Rowe Price (TROW) has secured financing for a new corporate bond fund from Walmart (WMT) heir Lukas Walton's Builders Vision impact platform, Bloomberg reported Monday. Builders Vision and Xylem, a water technology company, are among early investors, contributing a combined $200 million, the report said.
US equity futures were little changed pre-bell Monday as traders remained sidelined ahead of this week's two-day Federal Open Market Committee meeting to set monetary policy. Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.1% higher.
American Axle & Manufacturing Holdings (AXL) said Monday its wholly owned subsidiary plans to sell $843 million in senior secured notes due 2032 and $600 million in senior unsecured notes due 2033. The company said the secured notes will be backed by first-priority liens on its and certain subsidiaries' assets.
Baidu (BIDU) said Monday it completed a senor notes offering of 4.4 billion Chinese renminbi. The offering consisted of 1.9% senior unsecured notes due 2029 sold via offshore transactions to certain non-US persons, the company said. Net proceeds will be used for general corporate purposes, including repayment of existing debt and payment of interest, Baidu (BIDU) said.
The authority's borrowing apparatus is maintaining a business-as-usual approach it embarks on a massive new capital program and fends off federal cuts.
European bourses tracked moderately higher midday Monday as traders awaited the Wednesday rate decision from the US Federal Reserve and weighed developments in Russian and European Union relations. Recent political turmoil in France was evidently shrugged off, with Paris exchanges logging gains. Retail, bank and property stocks led broad rallies, although oil issues were flat.
USA Compression Partners (USAC) said Monday it plans to offer, together with its USA Compression Finance unit, $750 million of senior unsecured notes due 2033 in a private placement to eligible buyers. The company said it will use the net proceeds, along with borrowings under its credit agreement, to redeem all of its 6.875% senior notes due 2027 and cover related fees and expenses.
Planet Labs PBC (PL) has an average rating of Buy and mean price target of $10.07, according to analysts polled by FactSet. MT Newswires does not provide investment advice.
The benchmark US stock measures were pointing higher before the opening bell Monday as traders await a major policy decision by the Federal Reserve due later in the week.
Cook County, Illinois, plans to go to market Oct. 1 with $150 million of sales tax revenue bonds. The deal comes on the heels of a Moody's upgrade to Aa3.
Asian stock markets were mixed on the downside Monday, as traders weighed a raft of sluggish economic reports from Beijing, and prospects for easing by central banks in China and the US. Hong Kong gained ground, while Shanghai fell back. In Hong Kong, the Hang Seng Index opened lower, see-sawed and finished up 0.2% on strength in tech issues.
Royal Bank of Canada said it expects Wednesday's Bank of Canada policy decision to be a closer call than the U.S. Federal Reserve's move the same day and tighter than the market's current high likelihood of a cut. The central bank is weighing signs of a softening Canadian economy, higher unemployment and lower exports, against persistent inflation pressures, RBC said.
Societe Generale in its early Monday economic news summary pointed out: -- US dollar and United States Treasury yields rangebound before Federal Reserve meeting this week. -- France: 10-year OAT/Bund +2bps at 81.5bp after Fitch downgrades rating to A+ from AA-, outlook stable.
US equity investors will focus primarily on the Federal Reserve's policy meeting, while also monitoring an emergency court ruling on the removal of Fed Governor Lisa Cook and trade-tariff talks with India this week. * The two-day Federal Open Market Committee meeting will most likely end with a 25-basis-point fed funds rate cut Wednesday, according to the FedWatch Tool.
Industry leaders told the Financial Times the plan would be hard to enforce, risk driving business abroad and mark the U.K. as tougher than the U.S. or the EU.
The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the ?Neutral? zone on Friday. U.S. stocks settled mixed on Friday, with the Dow Jones index falling more than 250 points during the session.
Ahead of the Federal Reserve?s key vote on interest rates this week, the Justice Department has made a fresh attempt to stay a lower court's injunction blocking President Donald Trump?s firing of Fed Governor Lisa Cook.
Longer-term Treasury yields may rise despite the anticipated Fed rate cuts, potentially offsetting the expected bullish effects on BTC and other risk assets.
US equity indexes ended higher this week, with all three benchmark gauges hitting all-time highs, as market expectations for interest-rate cuts this year imply the Federal Reserve will prioritize tackling the weak labor market over lingering inflationary pressures. * The S&P 500 closed at 6,584.29 on Friday versus 6,481.50 a week ago.
US equity indexes traded mixed, while government bond yields rose ahead of the close on Friday as the outlook for interest rate cuts next week remains elevated amid downbeat consumer sentiment and accelerating inflation expectations.
BlackRock's Rick Rieder, chief investment officer of global fixed income, is among contenders to serve as the next chair of the Federal Reserve after Jerome Powell's term ends in May, Bloomberg reported Friday, citing an administration official.
Financial stocks fell in late Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each down about 0.3%. The Philadelphia Housing Index dropped 2.1%, and the Real Estate Select Sector SPDR Fund eased 0.2%. Bitcoin rose 1.8% to $116,472, and the yield for 10-year US Treasuries gained 5 basis points to 4.06%. In economic news, the University of Michiga...
In Canada, the main event will be the Bank of Canada's monetary policy meeting on Wednesday. National Bank said the central bank is expected to lower its policy rate by 25 basis points in what would be the first rate cut since March, when Canada-U.S. trade uncertainty was at its apex.
Financial stocks fell in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each down 0.3%. The Philadelphia Housing Index dropped 1.5%, and the Real Estate Select Sector SPDR Fund eased 0.2%. Bitcoin rose 0.8% to $116,472, and the yield for 10-year US Treasuries gained 5 basis points to 4.06%. In economic news, the University of Michigan's pre...
Next Wednesday, the Bank of Canada and the Fed will both deliver interest rate relief after what "history will judge to be a relatively brief pause", said CIBC's Ali Jaffery, before he added: "A single rate cut isn't enough to meaningfully affect economic outcomes these days, so we expect to hear dovish talk aimed at solidifying expectations for another cut in October, as both central banks reg...
In Canada, Ali Jaffery and Andrew Grantham noted, the central bank is expected on Wednesday to restart interest rate cuts with a 25bp move, and keep the door open to further reductions. The CIBC duo suspect that the CPI data for August released the day before [Tuesday] the BoC meeting would need to surprise significantly to the upside to prevent such an initial rate move.
US benchmark equity indexes were mixed after midday Friday as a survey showed a decline in consumer sentiment, while markets awaited the Federal Reserve's monetary policy decision due next week.
Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund off 0.3%. The Philadelphia Housing Index was falling 1.6%, and the Real Estate Select Sector SPDR Fund was easing 0.3%. Bitcoin was increasing 1.1% to $115,841, and the yield for 10-year US Treasuries was rising 6 basis points to 4.07%. In economic news...
California's governor and legislative leaders agreed to extend the state's cap-and-trade program and dedicate one-fourth of the funding to high-speed rail.
In Canada, Ali Jaffery and Andrew Grantham noted, the central bank is expected on Wednesday to restart interest rate cuts with a 25bp move, and keep the door open to further reductions. The CIBC duo suspect that the CPI data for August released the day before [Tuesday] the BoC meeting would need to surprise significantly to the upside to prevent such an initial rate move.
Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund off 0.3%. The Philadelphia Housing Index was falling 1.5%, and the Real Estate Select Sector SPDR Fund was easing 0.2%. Bitcoin was increasing 0.2% to $115,873, and the yield for 10-year US Treasuries was rising 6 basis points to 4.07%. In corporate new...
U.S. stocks traded mixed midway through trading, with the Dow Jones index falling more than 200 points on Friday. The Dow traded down 0.44% to 45,904.50 while the NASDAQ rose 0.41% to 22,134.26. The S&P 500 also rose, gaining, 0.01% to 6,587.98. Check This Out: Top 3 Tech & Telecom Stocks That Could Blast Off In September Leading and Lagging SectorsUtilities shares jumped by 0.5% on Friday.
US equity indexes were mixed after midday Friday as investors weighed a drop in the University of Michigan's consumer sentiment to the weakest since May alongside hotter medium-term inflation expectations.
Central Texas Regional Mobility Authority's ratings were raised by Moody's, which, along with S&P, upgraded North East Texas Regional Mobility Authority's.
US consumer sentiment deteriorated to the lowest level since May, reflecting concerns over increasing economic risks and threats to personal finances, preliminary results from a University of Michigan survey showed Friday. The main sentiment index fell to 55.4 in September from 58.2 in August.
Two years ago, some shoppers raised eyebrows when Costco began selling gold bars online. A one-ounce gold bar at Costco on Sept. 6, 2024, sold for around $2,496. The rally in gold prices is being driven by a mix of inflation concerns, geopolitical instability, and growing expectations that the Federal Reserve will cut interest rates soon.
The University of Michigan's preliminary consumer sentiment index fell to 55.4 in September from 58.2 in August, below expectations for a smaller decrease to 58.0 in a survey compiled by Bloomberg as of 7:45 am ET.
Lundin Gold (LUGDF) late Thursday said its president, chief executive officer and director, Ron Hochstein, will step down after 10 years in the role. Jamie Beck, formerly president, CEO and director of Filo Corp., will succeed Hochstein as president, CEO and director effective Nov. 7. Filo Corp. was acquired by BHP and Lundin Mining in January.
First Northwest Bancorp (FNWB) and its subsidiary First Fed Bank are pleased to announce today that Curt Queyrouze will become the Company?s new Chief Executive Officer and President, starting on September 17, 2025. ?It's a privilege to step into this role at a company with such a long-standing reputation.
Russia's central bank on Friday said its Board of Directors decided to cut the key rate by 100 basis points to 17.0%. Russia's central bank disappointed forecasters by cutting by 100bps, noted Scotiabank as the consensus had expected double that amount. Cumulative easing since it began in June now stands at -400bps with the rate set at 17.0%, pointed out the bank.
Though inflation remains high, central banks seem inclined to treat the strength in inflation as transitory, as was the original thinking during the COVID-19 pandemic, said Scotiabank.
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.
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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