-The U.S. Federal National Mortgage Association, known as Fannie Mae, said on Friday that board member Karin Kimbrough resigned from her position on September 22. It did not provide additional details regarding the resignation. The Trump administration has been weighing initial public offerings of Fannie Mae and Freddie Mac for later this year, a senior official told Reuters in August.
The U.S. Federal National Mortgage Association, known as Fannie Mae, said on Friday that board member Karin Kimbrough resigned from her position on September 22. It did not provide additional details regarding the resignation. The Trump administration has been weighing initial public offerings of Fannie Mae and Freddie Mac for later this year, a senior official told Reuters in August.
Broadstone Net Lease (BNL) said late Friday it closed a $350 million offering of 5% senior unsecured notes due 2032. The notes were priced at 99.151% of the principal amount. The proceeds will be used for acquisitions, debt repayment under BNL's $1 billion credit facility and other indebtedness, as well as general corporate needs, the company said. MT Newswires does not provide investment advice.
* US equity indexes were lower this week as higher-than-expected US Q2 GDP growth, as well as a drop in jobless claims, pared expectations of future rate cuts. * The S&P 500 closed at 6,643.7 on Friday versus 6,664.36 a week ago. *US Q2 GDP rose at an annual rate of 3.8%, up from a 0.6% decline in Q1, and higher than the 3.3% forecast in a survey compiled by Bloomberg.
Broadstone Net Lease, Inc. (BNL), today announced that Broadstone Net Lease, LLC, its operating partnership, has completed its public offering of $350 million aggregate principal amount of 5.000% senior unsecured notes due 2032.
Financial stocks advanced in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.9%. The Philadelphia Housing Index climbed 1.6%, and the Real Estate Select Sector SPDR Fund increased 1.1%. Bitcoin rose 0.7% to $109,638, and the yield for 10-year US Treasuries gained 2.1 basis points to 4.189%. In economic news, US personal income ...
* US consumer spending rises in August. * PCE index rises in line with expectations. * Euro on track to snap three straight weeks of gains. * Dollar-yen on course for fifth consecutive week of gains. By Chibuike Oguh.
* August PCE figures in line with expectations. * Costco shares edge lower. * Truck maker Paccar (PCAR) shares up as Trump imposes new tariffs. By Caroline Valetkevitch. U.S. stocks ended higher on Friday after mostly in-line U.S. inflation data, but indexes posted losses for the week.
The U.S. economy closed the second quarter with a final GDP growth rate of 3.8% ? its strongest performance since the third quarter of 2023 and above the long-term average pace. That's a sharp rebound from the 0.5% contraction in the first quarter, when fears over looming tariffs rattled businesses.
Financial stocks advanced in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund each adding 0.9%. The Philadelphia Housing Index climbed 1.6%, and the Real Estate Select Sector SPDR Fund added 1.1%. Bitcoin rose 0.7% to $109,638, and the yield for 10-year US Treasuries gained 2.1 basis points to 4.189%. In corporate news, Riot Platforms (RIOT) shares ...
-An economist whose research provided a foundation for Federal Reserve Governor Stephen Miran's argument that President Donald Trump's immigration crackdown will slow inflation by cutting demand for housing says the new central banker is overstating the impact.
* August PCE figures in line with expectations. * Costco shares edge lower. * Indexes: Dow up 0.8%, S&P 500 up 0.6%, Nasdaq down 0.4% By Caroline Valetkevitch. U.S. stocks were higher on Friday afternoon, after mostly in-line U.S. inflation data, but indexes were on track to post losses for the week. "To me, it's typical of quarter-end window dressing...
* U.S. consumer spending stronger than expected. * Fed rate-cut bets reduced amid stronger economic data. * Potential government shutdown may delay key economic data. By Matt Tracy and Karen Brettell.
* Loonie hits a four-month low at 1.3858. * For the week, the currency was down 1.1% * Canadian GDP rises 0.2% in July. * 10-year yield touches a two-week high. By Fergal Smith. The Canadian dollar steadied against its U.S. counterpart on Friday as domestic data showed the economy growing faster than expected in July, but the currency still posted a steep weekly decline.
US benchmark equity indexes were higher intraday as traders assessed remarks by two Federal Reserve officials and the latest macro data. The Dow Jones Industrial Average was up 0.8% at 46,310.4 after midday Friday, while the S&P 500 rose 0.5% to 6,640.1. The Nasdaq Composite advanced 0.3% to 22,451.
Fed Vice Chair for Supervision Michelle Bowman said that recent employment data suggest that the FOMC could already be late in reducing interest rates and that it may need to act more aggressively as a result.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising about 1%. The Philadelphia Housing Index was climbing 1.3%, and the Real Estate Select Sector SPDR Fund added 1%. Bitcoin was increasing 0.8% to $110,035, and the yield for 10-year US Treasuries was rising 2 basis points to 4.19%. In economic news, US ...
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 $38.00 to US$3,809.10 per ounce.
Federal Reserve Vice Chair for Supervision Michelle Bowman said recent employment data suggest that the Federal Open Market Committee may already be late in reducing interest rates and might need to act more aggressively.
AM Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Ratings of ?a+? of the members of Unum Insurance Group. The ratings reflect Unum?s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund each rising 1%. The Philadelphia Housing Index was climbing 1.3%, and the Real Estate Select Sector SPDR Fund added 1%. Bitcoin was increasing 0.6% to $109,669, and the yield for 10-year US Treasuries was rising 2 basis points to 4.19%. In economic news, US person...
Federal Reserve Vice Chair for Supervision Michelle Bowman reiterated on Friday that she believes decisive interest rate cuts are needed to ward off rising trouble in the job market.
National Bank of Canada on Thursday maintained its outperform rating on the shares of Spin Master (SNMSF) while cutting its target price to C$27.00 from C$29.00 and provided an earnings preview for the company's third quarter. The bank said it is not clear how some late September shipments may or not fall into October.
Seven filings were submitted in response to President Donald Trump's request for the Supreme Court to remove barriers from ousting Federal Reserve Gov. Lisa Cook before litigation proceeds. Most filings argued for the Court to deny the president's application.
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.
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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