With the latest retail sales figures, Desjardins continues to expect "modest" GDP growth in the third quarter, Tiago Figueiredo said Friday. Over at CIBC, Katherine Judge also said Friday's retail sales data supports the need for another BoC rate cut in October, after the central bank as expected reduced the policy rate by 25 basis points to 2.5% just two days ago.
Over at CIBC, Katherine Judge said Friday's retail sales data is supports the need for another Bank of Canada rate cut in October, after the central bank as expected reduced the policy rate by 25 basis points to 2.5% just two days ago. Judge noted Canadian retail sales continued to seesaw in July, with the 0.8% drop in sales erasing half of the prior month's gain.
Over at CIBC, Katherine Judge said Friday's retail sales data is supports the need for another Bank of Canada rate cut in October, after the central bank as expected reduced the policy rate by 25 basis points to 4.5% just two days ago. Judge noted Canadian retail sales continued to seesaw in July, with the 0.8% drop in sales erasing half of the prior month's gain.
Canada will release the retail sales for data for July and give an advance estimate for August at 8:30 a.m. ET on Friday, said Scotiabank. Canadian retail sales are expected to be weak after the prior month's surge, but with minimal effect on July gross domestic product due out next week, along with the August GDP flash, noted the bank.
UBS no longer expects the Bank of England to cut rates in November and now predicts the Monetary Policy Committee will hold steady for the rest of the year, with the next cut coming in February 2026.
Crude oil prices slid on Friday amid concerns about U.S. demand, with energy agencies signaling weakness, amid a looming oversupply situation. Brent crude at last look fell 0.6% to US$67.06/barrel and West Texas Intermediate crude lost 0.8% to US$63.04/b. This comes even as the U.S. Federal Reserve cut interest rates by a quarter of a percentage point, which could boost oil demand.
The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the ?Greed? zone on Thursday. U.S. stocks settled higher on Thursday, with the Nasdaq Composite gaining more than 200 points, a day after the Federal Reserve cut rates by 25 basis points and signaled more easing ahead. Tech stocks led the charge.
With the Federal Reserve?s recent decision to cut its benchmark rate by 25 basis points to 4-4.25%, marking its first reduction of 2025, Americans are bracing for immediate changes to credit card, auto loan, and personal loan rates. How the Federal Reserve Shapes Consumer Loan Rates? The Fed?s rate decisions serve as the benchmark for many consumer lending products.
Kodiak Gas Services (KGS) said late Thursday a subsidiary has priced its private offering of an additional $170 million of 6.500% senior unsecured notes due 2033 and an additional $30 million of 6.750% of senior unsecured notes due 2035. Proceeds will be used to repay a part of its debt, the company said. MT Newswires does not provide investment advice.
Wall Street's main equity indexes notched fresh all-time highs on Thursday in a technology-led advance powered by Intel (INTC) and Nvidia (NVDA), a day after the Federal Reserve signaled further cuts in interest rates later this year.
Ferguson Enterprises (FERG) said late Thursday it priced a $750 million public offering of 4.35% senior unsecured notes due 2031. Net proceeds will be used for general corporate purposes, according to the company. The offering is expected to be completed on Sept. 22, subject to closing conditions, the company said. MT Newswires does not provide investment advice.
US equity indexes ended higher on Thursday after a lower-than-expected jobless claims report and the Fed's forecast of two more hikes this year. * US initial jobless claims fell by 33,000 to 231,000 in the week ended Sept. 13, reversing a 28,000 increase to 264,000 in the prior week.
US equity indexes were higher Thursday on better-than-expected initial jobless claims and manufacturing industry reports. The Nasdaq Composite gained 0.94% to 22,470.7, the S&P 500 rose 0.48% to 6,631.9, and the Dow Jones Industrial Average was 0.27% higher at 46,142.1, with each index touching new record highs earlier in the session.
Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising about 0.2%. The Philadelphia Housing Index increased 0.9%, and the Real Estate Select Sector SPDR Fund eased 0.1%. Bitcoin climbed 1.1% to $117,794, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.10%. In economic news, US initia...
US equity indexes were higher ahead of the close on Thursday after US initial jobless claims for the week ended Sept. 13 fell by 33,000 to 231,000 from 264,000 in the week prior, and lower than consensus expectations of 241,000.
While the Federal Reserve made waves yesterday for finally cutting the benchmark interest rate by 25 basis points, many experts are worried about potential stagflation risks. However, the technology ecosystem has apparently not received the memo, with individual players like SoundHound AI Inc (SOUN) posting strong performances recently.
Initial jobless claims last week decreased by 33,000 to 231,000, more than reversing a large increase in the previous week and lowering the four-week moving average by 750 to 240,000. Natural gas stocks rose by 90 billion cubic feet to 3.433 trillion in the week ended Friday, down 0.1% from a year earlier and 6.3% above the five-year seasonal average.
Financial stocks advanced in late Thursday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising 0.2%. The Philadelphia Housing Index increased 0.9%, and the Real Estate Select Sector SPDR Fund added 0.2%. Bitcoin climbed 1.1% to $117,794, and the yield for 10-year US Treasuries rose2.8 basis points to 4.10%. In economic news, US initial jobless c...
Backers of a voter-approved public safety funding proposition that led to a negative rating outlook by Moody's said the budget fails to comply with the measure.
Gold futures fell for a second day midafternoon on Thursday as traders again take profits following Tuesday's record high even as the Federal Reserve cut interest rates for the first time this year and indicated more cuts are coming.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund adding 0.2%. The Philadelphia Housing Index was increasing 0.9%, and the Real Estate Select Sector SPDR Fund was up 0.2%. Bitcoin was increasing 1.4% to $117,483, and the yield for 10-year US Treasuries rose 2.5 basis points to 4.10%. In economic news, U...
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index up 0.5% and the Financial Select Sector SPDR Fund adding 0.3%. The Philadelphia Housing Index was increasing 0.9%, and the Real Estate Select Sector SPDR Fund was up 0.4%. Bitcoin was increasing 1.4% to $117,591, and the yield for 10-year US Treasuries rose 3 basis points to 4.10%. In economic news, US ...
Plug Power Inc (PLUG) shares are trading higher by 33% over the past week, lifted by a favorable macroeconomic shift and growing optimism for the hydrogen sector. What To Know: A key catalyst for the rally is the Federal Reserve?s interest rate cut Wednesday.
The Federal Home Loan Bank of New York announced today that Christopher Martin has been elected by its Board of Directors to serve as Board chair for a two-year term that will commence on January 1, 2026. ?As a community banker, I know the positive impact access to reliable Federal Home Loan Bank funding has for local lenders and the customers and communities we serve,? said Mr. Martin.
US equity indexes rose in midday trading on Thursday following a lower-than-expected jobless claims report issued a day after the Federal Reserve's first rate cut this year. The Nasdaq Composite advanced 1.1% to 22,516.1, the S&P 500 added 0.7% to 6,645.5 and the Dow Jones Industrial Average increased 0.4% to 46,207.4, with each index touching new record highs earlier in the session.
Shares of D-Wave Quantum Inc (QBTS) shares are trading higher by some 35% over the past week, hitting a new all-time high Thursday morning. What To Know: Wednesday?s Federal Reserve interest rate cut has created a more bullish environment for tech stocks, providing a broad lift to the sector.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.26%. ?Mortgage rates decreased yet again this week, prompting many homeowners to refinance. News Facts The PMMS? is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
Osisko Metals (OMZNF) reported Thursday the new infill and expansion drill results from the Gaspe copper project in Quebec. Osisko retained its outperform rating and $1.25 price target at National Bank of Canada after the news. Drill highlights include 133.7 meters averaging 1.04% copper, 1,091.5 meters averaging 0.20% copper, and 159.1 meters averaging 0.45% copper.
National Bank of Canada Thursday increased Tamarack Valley Energy's (TNEYF) price target to $7.50 from $7.25 while maintaining the company's outperform rating. The price target change follows Tamarack's $112 million sale of non-core assets to streamline the business as a pure-play producer in Clearwater and Charlie Lake.
All three major US stock indexes were up in late-morning trading Thursday, a day after the Federal Reserve's Federal Open Market Committee lowered its benchmark interest rate by 25 basis points and a day before President Donald Trump's phone call with Chinese President Xi Jinping.
Moldova's central bank Thursday said its Executive Board decided unanimously to lower its policy rate by 25bps to 6.0%. The Executive Board also reduced by 25bps to 8.0% the interest rate on overnight loans, to 6.25% repo transactions and to 4.0% overnight deposits.
Applications for unemployment insurance in the US declined more than expected last week, dropping from a nearly four-year high reached in the week prior, government data showed Thursday. For the week ended Sept. 13, the seasonally adjusted number of initial claims decreased by 33,000 to 231,000, according to the Department of Labor.
Jordan's central bank Thursday said its Open Market Operations Committee decided to reduce the key interest rate and other monetary policy instrument interest rates by 25 basis points.
National Bank of Canada Wednesday outlined key takeaways from the Mining Forum Americas Conference in Colorado Springs from Sept. 14-17. Key themes of the event included the supportive gold price environment driven by declining interest rates, persistent inflation, a declining U.S. dollar, central bank buying and increased adoption of stablecoins backed by precious metals.
Taiwan's central bank Thursday said its Board decided to keep the discount rate, the rate on refinancing of secured loans and the rate on temporary accommodations unchanged at 2.0%, 2.375%, and 4.25%, respectively. Taiwan's central bank decision to stay on hold was "widely expected," with the discount rate unchanged at 2.0%, noted Scotiabank.
The Bank of Canada cut its policy rate by 25 basis points to 2.50% on Wednesday, as expected, marking its first easing since March 12, said Rosenberg Research. Rosenberg noted a series of notable shifts in the tone of the central bank's statement.
The Bank of Canada's 25bps cut to 2.50% on Wednesday takes the overnight rate just below the mid-point of the official neutral range, said Bank of Montreal. It also brings the rate in line with the BoC's view on underlying inflation, and very close to the consumer price index excluding food & energy, noted the bank.
Gold futures were down for a second day early on Thursday as traders again take profits following Tuesday's record high even as the Federal Reserve cut interest rates for the first time this year and indicated more cuts are coming.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.7% and the actively traded Invesco QQQ Trust was 1% higher in Thursday's premarket activity as weekly jobless claims and manufacturing data followed the US Federal Reserve's rate cut.
US initial jobless claims fell by 33,000 to a level of 231,000 in the employment survey week ended Sept. 13, more than reversing an increase of 28,000 claims to a level of 264,000 in the previous week. Expectations were for a level of 240,000 claims in survey of analysts compiled by Bloomberg as of 7:40 am ET.
The Bank of England's Monetary Policy Committee kept Bank Rate on hold at 4% on Thursday, as expected, said Sanjay Raja, Deutsche Bank's chief United Kingdom economist. Thursday's decision was never really about a rate change, noted Raja. MPC divisions remain, pointed out the Deutsche Bank economist.
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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