News Results

* Bowman urges proactive rate cuts to address labor market fragility. * Fed's recent rate cut aimed at bolstering job market amid inflation concerns. * Bowman supports smaller balance sheet, tweaks to Standing Repo Facility. By Michael S. Derby.

The rating agency pointed to potential financial pressure from tax and other changes on the federal level for the state's outlook revision.

US consumer sentiment dropped in September amid concerns regarding the prospects of higher inflation and labor market deterioration, final survey results from the University of Michigan showed Friday. The main sentiment index fell to 55.1 this month from 58.2 in August, lower than the initial reading of 55.4, which was the consensus in a Bloomberg poll.

* Indexes: Dow up 0.46%, S&P 500 up 0.22%, Nasdaq down 0.12% * August PCE figures in line with expectations. * GlobalFoundries (GFS) up after report on new US chip production rule. By Niket Nishant and Sukriti Gupta.

* U.S. Treasuries remain in the driving seat. * U.S. inflation data failed to affect markets. * German fiscal spending in focus. * French yield spread widens before strike against austerity plans. By Stefano Rebaudo and Canan Sevgili.

National Bank of Canada Thursday raised Versamet Royalties' price target to $13 from $11 while its outperform rating remained unchanged. Versamet recently announced its purchase of a 90% silver stream on the Rosh Pinah zinc mine in Namibia and a 2.75% NSR royalty on the Santa Rita nickel mine in Brazil for cash consideration of $125 million, plus contingent payments of up to $45 million.

Brazil's central bank could take the country's 2026 presidential election into account in its monetary policy decisions if it has an impact on market prices, the local currency or inflation, director Diogo Guillen said on Friday.

Lebanese authorities will on Friday release former central bank governor Riad Salameh, who posted a record-high bail after nearly 13 months in detention over alleged financial crimes committed during his tenure, a Lebanese judicial source said.

National Bank of Canada Thursday retained Endeavour Silver's outperform rating and $16 price target. Endeavour announced drill results from its ongoing exploration program at the Kolpa mine in Peru, which the bank valued at $205 million, making up 11% of the company's overall asset net asset value.

* Wall Street indexes climb at open. * U.S. inflation comes in line with economist expectations. * Rate cut expectations buoy gold. By Isla Binnie. Steady U.S. inflation data reassured Wall Street, leading to gains on Friday while Treasury yields stayed largely flat and gold firmed on expectations the Federal Reserve may continue cutting interest rates this year.

For RBC Economics, the bottom line is that the 0,2% increase in July GDP was slightly above Statistics Canada's 0.1% advance estimate a month ago and broadly confirmed earlier signs that the Canadian economy steadied early in Q3 after contracting in the immediate wake of aggressive U.S. tariffs imposed globally in Q2.

* Indexes up: Dow 0.78%, S&P 500 0.55%, Nasdaq 0.32% * August PCE figures in line with expectations. * Intel (INTC) up after report company approaches TSMC for investments or partnership. * GlobalFoundries (GFS) up after report on new US chip production rule. By Niket Nishant and Sukriti Gupta.

Canada's main stock index advanced with broad-based gains after key domestic GDP and in-line U.S. inflation data added to investor optimism. Toronto's S&P/TSX composite index rose 0.3% to 29,817.85 points by 09:55 a.m. ET, and was on track for eight consecutive weeks of gains.

US consumer spending accelerated in August at the fastest pace since March, while the Federal Reserve's preferred inflation metric held steady on an annual basis, government data showed Friday. Personal consumption expenditures increased 0.6% last month, the Bureau of Economic Analysis reported.

* US consumer spending rises in August. * PCE index rises in line with expectations. * Euro on track to snap three straight week of gains. * Dollar-yen on course for fifth consecutive week of gains. By Chibuike Oguh.

U.S. Treasury yields were largely flat following data on Friday that showed as-expected August inflation and consumer spending that surprised to the upside. The benchmark U.S. 10-year Treasury note yield was last up just 0.3 basis points at 4.177%. It hit its highest level since September 5 earlier in the week.

* Consumer spending increases 0.6% in August. * High-income households driving spending. * Overall inflation warms up; wage growth cooling. By Lucia Mutikani. U.S. consumer spending increased slightly more than expected in August as households went on vacation and dined out, keeping the economy on solid ground as the third quarter progressed, while inflation continued to steadily pick up.

The University of Michigan consumer sentiment index was revised downwards on Friday to a reading of 55.1 for September from the 55.4 print in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg as of 7:30 am ET. That was below the final reading of 58.2 in August.

-Global equity funds recorded net inflows for the first time in three weeks in the week to September 24, as optimism around artificial intelligence investments and renewed bets on potential U.S. rate cuts lifted investor sentiment. Investors poured a net $28.36 billion into equity funds during the period, largely reversing the prior week's $35.02 billion outflow, data from LSEG Lipper showed.

Global equity funds recorded net inflows for the first time in three weeks in the week to September 24, as optimism around artificial intelligence investments and renewed bets on potential U.S. rate cuts lifted investor sentiment. Investors poured a net $28.36 billion into equity funds during the period, largely reversing the prior week's $35.02 billion outflow, data from LSEG Lipper showed.

* US PCE matches expectations in August. * Platinum at over 12-year high. * Palladium headed for a weekly gain. By Sherin Elizabeth Varghese. Gold gained on Friday after U.S. inflation data came in line with expectations, reinforcing bets that the Federal Reserve may continue with interest rate cuts later this year.

Wall Street's main indexes opened higher on Friday, after the latest inflation data came in line with expectations, easing concerns that persistent price pressures could delay interest rate cuts by the Federal Reserve.

Canadian GDP rose 0.2% in July, a touch above forecasts on goods-sector strength, but Desjardins' Tiago Figueiredo says the momentum is fading with a flash estimate showing August stalled and Q3 growth tracking near 0.5%, reinforcing his view of a 2.00% policy-rate trough. Canadian GDP rose more than expected in July, but that "strength appeared to be fleeting", Figueiredo said Friday.

Serving on MSRB's Board of Directors over the past four years has been a privilege and an honor.

Gold traded higher early on Friday as a key U.S. inflation measure rose last month but matched expectations, clearing the way for another interest-rate cut from the Federal Reserve next month. Gold for December delivery was last seen up $11.50 to US$3,782.60 per ounce.

* Futures: Dow up 0.44%, S&P 500 up 0.3%, Nasdaq up 0.23% * August PCE figures in line with expectations. * Intel (INTC) up after report company approaches TSMC for investments or partnership. * GlobalFoundries (GFS) up after report on new US chip production rule. By Niket Nishant and Sukriti Gupta.

Brazil posted a smaller-than-expected current account deficit in August, but foreign direct investment remained insufficient to fully offset the 12-month shortfall as a share of gross domestic product, central bank data showed on Friday.

Richmond Federal Reserve President Thomas Barkin said Friday he sees limited risks of a big rise in either unemployment or inflation, letting the Fed balance its two goals as it debates further interest rate cuts. "Our focus is more about balance," Barkin said in comments to be delivered at the Peterson Institute for International Economics.

The Canadian economy posted its first gain in four months with a 0.2% rise in July GDP before likely stalling in August, CIBC's Andrew Grantham said, leaving Q3 growth tracking 0.8% annualized-just below the BoC's 1.0% projection-and putting upcoming jobs and CPI data in focus for a potential October rate cut.

BGC Group (BGC) said Friday it extended its offer to exchange up to $700 million of 6.15% senior notes due 2030 to Oct. 3 from the previous expiration date of Sept. 25. The notes, issued and sold by the company in April in a private offering, will be exchanged for an equal amount of registered 6.15% senior notes due 2030 under the exchange offer, BGC said.

U.S. consumer spending increased slightly more than expected in August as households went on vacation and dined out, keeping the economy on solid ground as the third quarter progressed, while inflation continued to steadily pick up. The report from the Commerce Department on Friday suggested the economy has so far retained most of its momentum from the April-June quarter.

* * Economists predict spending slowdown due to higher prices. U.S. consumer spending increased slightly more than expected in August, keeping the economy on solid ground as the third quarter progressed, while inflation continued to rise at a measured pace.

U.S. stock index futures extended gains on Friday, after an in-line inflation reading reinforced bets that the Federal Reserve may proceed with interest rate cuts this year. A Commerce Department report showed the Personal Consumption Expenditures index rose 2.7% in August on an annual basis, compared with an estimated 2.7% rise, according to economists polled by Reuters.

Canada's monthly gross domestic product rebounded from three months of contraction to grow by 0.2% in July as mining, manufacturing and wholesale trade boosted growth, data showed on Friday.

* * August GDP likely to be flat but avoid a contraction. * GDP figures signals Canada might avoid a recession. * Biggest drivers of July growth were mining, manufacturing. By Promit Mukherjee.