Macroeconomic data took a back seat for much of last week in Canada, until the gross domestic product report landed on Friday, said TD. Earlier in the week, the spotlight was on central bankers and policymakers at the United Nations General Assembly, noted the bank.
A quiet week for Canadian economic data will keep attention on the U.S. labor market, with Friday's payrolls report in focus, RBC said. The U.S. release is scheduled for Friday but could be delayed if a government shutdown begins Wednesday, the bank said. Canada's own monthly labor force survey will follow a week later.
US equities rebounded Friday after a three-day drop as traders weighed remarks by two Federal Reserve officials and an upbeat consumer spending report. The Dow Jones Industrial Average rose 0.7% to 46,247.3, while the S&P 500 climbed 0.6% to 6,643.7. The Nasdaq Composite advanced 0.4% to 22,484.1. Barring consumer staples, all sectors ended in the green, led by utilities.
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.
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 ...
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 ...
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.
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...
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.
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.
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.
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.
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.
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.
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.
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.
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.
Royal Bank of Canada (RY) is keeping tabs on a number of possible US acquisition targets to expand its business south of the border, Bloomberg News reported Friday, citing Chief Executive Dave McKay. "It wouldn't be asset management. McKay described the possible takeover targets as "high-quality wealth franchises" that could be sought by rivals.
The Bank of Canada is already within a neutral range and at the fine-tuning stage of adjustments, said Scotiabank. The bank's forecast is for one more rate cut, but with uncertain timing. Scotiabank pointed out that it successfully leaned against speculation toward further rate cuts ever since March.
Canada will release the gross domestic product for July and provide the advance estimate for August at 8:30 a.m. ET on Friday, said Bank of Montreal. Canadian real GDP for July is expected to rebound 0.1% month over o nth after three straight monthly declines stemming from the trade war's hit to exports and investment, noted the bank.
The Canadian dollar's recent performance has been challenged by shifting fundamentals and a renewed dovishness from the Bank of Canada, said Scotiabank. The bank's outlook remains constructive, as Scotiabank still anticipates less easing from the BoC relative to the Federal Reserve and, as such, looks to support from interest rate differentials.
Mexico's central bank delivered a widely anticipated 25bps rate cut to 7.50% on Thursday, while signaling further room to ease amid the sluggishness of economic activity, said BBVA Research. Banxico's modest inflation forecasts revisions signal a positive outlook, likely underpinned by a widening negative output gap, noted BBVA Research.
Societe Generale in its early Friday economic news summary pointed out: -- The US dollar consolidates overnight gains, two-year United States Treasury backs up to 3.65% after strong durable goods, weekly jobless claims drop to 218,000, Q2 gross domestic product revised up to 3.8% quarter-over-quarter seasonally adjusted annual rate, personal consumption upgraded to 2.5%. UST seven-year auction ...
The Las Vegas Global Economic Alliance and the International Economic Development Council are proud to announce Danielle Casey, President & CEO of the Las Vegas Global Economic Alliance, has been appointed to serve as the Chair of the IEDC Board of Directors for the 2026 calendar year.
Black Hills said late Thursday it has priced a public debt offering of $450 million aggregate principal amount of 4.55% senior unsecured notes due Jan. 2031. The company plans to use the proceeds to repay, redeem, or otherwise retire $300 million of its outstanding 3.950% notes due Jan. 2026. The offering is expected to close on Oct. 2, the company added.
Black Hills Corp. (BKH) today announced the pricing of a registered public debt offering of $450 million aggregate principal amount of 4.550% senior unsecured notes due Jan. 31, 2031. The company intends to use the net proceeds from the offering to repay, redeem or otherwise retire all $300 million aggregate principal amount outstanding of its 3.950% notes due Jan. 15, 2026, at or before maturity.
Realty Income (O) said late Thursday it has priced a $400 million offering of 3.950% senior unsecured notes due 2029 at 99.412% of the principal amount. The company said it also priced another $400 million offering of 4.500% senior unsecured notes due 2033 at 98.871%. Net proceeds will be used for general corporate purposes, according to the company. MT Newswires does not provide investment advice.
US equities dropped for a third session in a row on Thursday as traders evaluated fresh economic data, including reports showing declines in existing-home sales and jobless claims. The Nasdaq Composite and the S&P 500 fell 0.5% each to close at 22,384.7 and 6,604.7, respectively.
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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