* US GDP data stronger than expected. * Dollar index rises to two-week high. * Euro drops to two-week low against dollar. * Swiss franc falls after SNB leaves rates unchanged. By Chibuike Oguh.
NGEx Minerals (NGXXF) said Thursday that it plans to conduct up to 25,000 meters of diamond drilling as part of its phase-four exploration plan at the Lunahuasi copper-gold-silver project in Argentina. The phase four program is scheduled to start in early October and will likely continue until May 2026.
All three major US stock indexes were down in late-morning trading Thursday after the Commerce Department reported a significant upward revision to Q2 gross domestic product and weekly jobless claims came in below expectations. US economic growth, measured by GDP, was revised up to a 3.8% increase in Q2 from the previously reported 3.3%, the Commerce Department said Thursday.
Brazilian central bank chief Gabriel Galipolo said on Thursday that policymakers remain data-driven in their decisions, noting that the economic scenario has been unfolding as expected under a restrictive monetary policy stance.
The Swiss central bank held its policy rate at 0% on Thursday as widely anticipated, said Scotiabank. President MartinSchlegel said that while SNB is well aware of the costs to going negative, "if it's really necessary to fulfill our mandate we are ready to use all the tools that are available-also negative interest rates."
The Kansas City Fed monthly manufacturing index rose to a reading of 4 in September from 1 in August, above expectations for a smaller increase to a 2 print in a survey compiled by Bloomberg as of 7:35 am ET, indicating faster expansion in the sector. Other regional manufacturing data already released have been mixed.
National Bank of Canada Wednesday increased Paramount Resources' (PRMRF) price target to $27.50 from $25 with a sector perform rating. The company received a higher target after recently providing an operations update highlighting the value momentum being generated within the business, including the sale of its stake in NuVista Energy (NUVSF) for $300 million.
Bridge 2 Technologies, a leading global ERM platform that drives business growth by connecting corporations, small and emerging businesses, suppliers, investors, advisors and professionals, announced a strategic partnership with the Women Presidents Organization, a membership organization where dynamic and diverse women business leaders around the world tap into collective insight with exclusiv...
U.S. Treasury yields rose on Thursday following stronger-than-expected second-quarter economic data that could strengthen the case for a rates pause from the Federal Reserve at its next October meeting. The benchmark U.S. 10-year Treasury note yield was last up 4.6 basis points at 4.193%. It hit its highest level since September 5 on Monday.
Sweden's Riksbank rate cut to 1.75% on Wednesday surprised markets, but was supported by weak economic data and a strong krona SEK), resulting in a lower EUR/SEK, said UBS. United States tariffs and a sluggish labor market continue to weigh on Sweden's economy, but fiscal stimulus and favorable global conditions support the krona, wrote the bank in a note to clients.
Existing-home sales remained essentially the same in August, ticking down by 0.2% from July, according to the National Association of REALTORS? Existing-Home Sales Report. Month-over-month sales increased in the Midwest and West, and fell in the Northeast and South.
-Sales of previously owned U.S. homes ticked lower in August amid affordability issues for buyers thanks to still-pricey homes on the market and interest rates on mortgages that remain relatively steep despite recent drops in borrowing costs.
* US weekly jobless claims fall. * August PCE data to show 0.3% m/m rise, per Reuters poll. * Palladium gains over 2% By Sherin Elizabeth Varghese. Gold pared gains on Thursday after U.S. weekly jobless claims unexpectedly declined, while investors awaited key inflation data that could shape the Federal Reserve's next interest rate moves.
The pace of US existing home sales fell by 0.2% to a 4.00 million seasonally adjusted annual rate in August from 4.01 million in July, compared with a larger expected decrease to a 3.95 million rate in a survey compiled by Bloomberg as of 7:35 am ET, data from the National Association of Realtors released Tuesday showed. Total sales were still up 1.8% from a year earlier.
Global debt hit a record high of $337.7 trillion at the end of the second quarter, driven by easing global financial conditions, a softer U.S. dollar and a more accommodative stance from major central banks, a quarterly report showed on Thursday.
Wall Street's main indexes opened lower on Thursday, as fresh economic data and remarks from a Federal Reserve official tempered optimism around further rate cuts. The Dow Jones Industrial Average fell 23.8 points, or 0.05%, at the open to 46,097.43. The S&P 500 fell 29.8 points, or 0.45%, to 6,608.19?, while the Nasdaq Composite dropped 179.1 points, or 0.80%, to 22,318.766.
Canada's Parliamentary Budget Officer Thursday revised down its economic outlook, citing increased trade uncertainty and the impact of tariffs. Real gross domestic product is now projected to grow 1.2% in 2025 and 1.3% in 2026, compared with March forecasts of 1.7% and 1.5%, respectively, the PBO said.
Inflation in Brazil sped up in the month to mid-September after briefly dipping into negative territory a month earlier, though it still undershot market expectations, data from statistics agency IBGE showed on Thursday. The figures come as Brazil's central bank signaled it was entering a " new stage.
Rockefeller Asset Management, the asset management division of Rockefeller Capital Management, celebrates the one-year anniversary of its municipal bond ETFs: Rockefeller Opportunistic Municipal Bond ETF, Rockefeller California Municipal Bond ETF, and Rockefeller New York Municipal Bond ETF.
Gold rose early on Thursday, rising off a day-prior drop even as the dollar and treasury yields rose after U.S. initial jobless claims slowed last week and second-quarter gross domestic product growth was revised higher. Gold for December delivery was last seen up $16.90 to US$3,785.00 per ounce, after falling off a record US$3,815.70 set on Tuesday.
-Federal Reserve Bank of Kansas City President Jeffrey Schmid said on Thursday that last week's central bank interest-rate cut was needed to help ensure that the job market remains in a good place.
* Schmid says Fed is close to meeting its mandates. * Schmid says slightly restrictive rate policy is right place to be. * Schmid said future rate moves will be data dependent. By Michael S. Derby. Federal Reserve Bank of Kansas City President Jeffrey Schmid said on Thursday that last week's central bank interest-rate cut was needed to help ensure that the job market remains in a good place.
By Jamie McGeever. There's little prospect of the Federal Reserve changing its 2% inflation target right now. Figures on Friday are expected to show that U.S. inflation in August exceeded the Fed's 2% goal for the 54th month in a row. And there's every likelihood that inflation won't get back to 2% for several more months, probably years. Even that timeline could prove to be tough.
Rate, a leading fintech company, today announced an increase in its conforming loan limit to $819,000 for select loan products across the contiguous 48 states. This proactive adjustment allows more borrowers to qualify for conforming loans, which typically offer more competitive rates and simpler requirements compared to high-balance or jumbo loans.
Corporacion Inmobiliaria Vesta, known as Vesta, said Thursday it has priced a private offering of 5.500% senior unsecured notes due Jan. 30, 2033 at $500 million aggregate principal amount. The Mexican industrial real estate development company said it intends to use net proceeds from the offering to pay down debt and for general corporate purposes.
US economic growth, measured by gross domestic product, was revised up to a 3.8% increase in Q2 from a 3.3% gain in the previous estimate, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:35 am ET. GDP fell by a revised 0.6% in Q1.
The U.S. economy grew faster than previously estimated in the second quarter amid strong consumer spending and business investment, though momentum appears to be slowing as the effects of tariffs and policy uncertainty start to filter through.
The U.S. trade deficit in goods contracted sharply in August amid a plunge in imports, government data showed. The goods trade gap narrowed 16.8% to $85.5 billion last month, the Commerce Department's Census Bureau said on Thursday. Imports of goods dropped $19.6 billion to $261.6 billion.
The U.S. trade deficit in goods contracted sharply in August amid a plunge in imports, government data showed. The goods trade gap narrowed 16.8% to $85.5 billion last month, the Commerce Department's Census Bureau said on Thursday. Imports of goods dropped $19.6 billion to $261.6 billion.
Federal Reserve Bank of Chicago President Austan Goolsbee on Thursday said that while he supported last week's interest-rate cut because the labor market is cooling, he was not eager to do a lot more policy easing while inflation is above target and moving the wrong way.
The U.S. economy grew faster than previously thought in the second quarter, pumped up by an ebb in imports and a pickup in consumer spending, but momentum appears to have since slowed. Economists polled by Reuters had expected GDP growth would be unrevised at a 3.3% rate.
AviLease, a jet-leasing firm backed by Saudi Arabia's almost $1 trillion Public Investment Fund, has been holding talks with banks to prepare an inaugural bond sale, two people with knowledge of the plan told Reuters. The company has discussed a dollar-denominated debut with JPMorgan (JPM) and Citigroup (C/PN), said the people, who declined to be identified because the information is private.
The number of Americans filing new applications for unemployment benefits fell last week, but the labor market has lost its luster amid an anemic pace of hiring. Initial claims for state unemployment benefits dropped 14,000 to a seasonally adjusted 218,000 for the week ended September 20, the Labor Department said on Thursday.
US initial jobless claims fell to 218,000 in the week ended Sept. 20 from an upwardly revised 232,000 in the previous week, compared with expectations for an increase to 233,000 in a survey of analysts compiled by Bloomberg as of 7:35 am ET. The four-week moving average fell by 2,750 to 237,500 after falling by 500 to 240,250 in the previous week.
The number of Americans filing new applications for unemployment benefits fell last week, but the labor market has lost its luster amid an anemic pace of hiring. Initial claims for state unemployment benefits dropped 14,000 to a seasonally adjusted 218,000 for the week ended September 20, the Labor Department said on Thursday.
Corporaci?n Inmobiliaria Vesta, S.A.B. de C.V., a fully-integrated, internally managed real estate company that owns, manages, develops and leases industrial properties in Mexico, today announced that it has priced an offering of US$500.00 million aggregate principal amount of 5.500% senior unsecured notes due January 30, 2033.
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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