Financial stocks were mixed in Monday afternoon trading, with the NYSE Financial Index down 0.1% and the Financial Select Sector SPDR Fund adding 0.1%. The Philadelphia Housing Index was increasing 0.1%, and the Real Estate Select Sector SPDR Fund was up 0.1%. Bitcoin was rising 1.3% to $113,651, and the yield for 10-year US Treasuries was dropping 5 basis points to 4.14%. In corporate news, Bl...
Shares of Wells Fargo (WFC) and US Bancorp (USB) have limited upside potential, Morgan Stanley said in a note as the brokerage downgraded ratings on both banks to equal-weight from overweight. Wells Fargo (WFC) had been subject to asset growth restrictions for more than seven years, before the Federal Reserve removed that requirement in June.
Keyera (KEYUF) said Monday it has closed its offerings of $2.3 billion of senior unsecured notes and $500 million of fixed-to-fixed rate subordinated notes. Proceeds will be used to fund a portion of the purchase price of Keyera's (KEYUF) acquisition of Plains Midstream Canada, which was announced last June.
Israel's central bank Monday said its Monetary Committee decided to leave the interest rate unchanged at 4.50%. "In view of the intensification of the fighting in Gaza and a deterioration in international sentiment toward Israel, uncertainty in the geopolitical environment is high," wrote BoI in its policy statement explaining why it kept the rate on hold.
Israel's central bank Monday said its Monetary Committee decided to leave the interest rate unchanged at 4.50%. "In view of the intensification of the fighting in Gaza and a deterioration in international sentiment toward Israel, uncertainty in the geopolitical environment is high," wrote BoI in its policy statement explaining why it kept the rate on hold.
Deloitte Canada expects the economy to "limp along" in Q3 but avoid a technical recession, with growth running below potential. Canada's gross domestic product fell 1.6% year over year in Q2.
The Reserve Bank of Australia is scheduled to release its policy statement at 12:30 a.m. ET on Tuesday, bringing this nerve-wracking month of nine G10 central bank meetings to a close --the New Zealand central bank isn't due to meet until next week, said Commerzbank.
Medtronic (MDT) said Monday that its wholly-owned indirect subsidiary has completed a 1.5 billion euros public bond offering, issuing 750 million euros of 2.95% senior notes due 2030 and 750 million euros of 4.2% senior notes due 2045.
The price of gold surged to $3,800 per ounce on Monday, sending the market value of U.S. gold reserves past the $1 trillion mark?but on the government's books, it's still worth pennies in comparison. The U.S. holds 261.5 million troy ounces of gold, or 8,133 metric tons.
Most expect Colombia's central bank to hold its overnight lending rate at 9.25% on Tuesday, said Scotiabank. First up is consideration of the signals being sent by the Board, which is made up by the minister of finance, who presides over the Board, and six members including the governor, noted the bank.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Flood and Wildfire Scores, according to ICE Climate Data. A $30 million offering from Sea Island, N.J., records a Flood Score of 5.0 out of 5.0, ICE reports.
Ellington Financial (EFC) said Monday that it plans to offer $400 million in aggregate principal amount of senior unsecured notes due 2030 through certain of its units. The company said it will fully and unconditionally guarantee the notes.
Starwood Property Trust (STWD) said Monday that it is offering $500 million aggregate principal amount of its unsecured senior notes due 2031 in a private offering. The company said it plans to use a portion of the net proceeds to finance or refinance, recently completed or future eligible green, social projects.
The US dollar fell against its major trading partners early Monday to start a busy week of economic data that concludes with the September employment report Friday, all the while the threat of another government shutdown looms ahead of the Tuesday night deadline.
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.
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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