Kansas City Fed President Jeffrey Schmid said Friday that inflation remains too hot, cautioning that additional interest rate cuts may stoke price pressures. The consumer price index accelerated to 3% year over year in September, the Bureau of Labor Statistics reported late last month.
AM Best has assigned a Financial Strength Rating of B and a Long-Term Issuer Credit Rating of ?bb+? to MG Insurance Company. The ratings reflect MGIC?s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Financial stocks were lower in Friday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund shedding 0.6%. The Philadelphia Housing Index was easing 0.3%, and the Real Estate Select Sector SPDR Fund was increasing 0.1%. Bitcoin was declining 3.6% to $96,088, and the yield for 10-year US Treasuries rose 3 basis points to 4.14%. In corporate news, KK...
The Fargo-Moorhead Metropolitan Area Flood Risk Management Project had a deadline Friday for bondholder consent to a settlement resolving construction disputes.
Oracle Corp (ORCL) bonds have taken a hit in recent days following a report that the cloud and artificial intelligence service provider plans to add another $38 billion to its heavy debt load to fund its AI infrastructure, according to analysts and investors. Oracle did not immediately respond to a request for comment.
Maryland's financial challenges are resurfacing via a report from the Department of Legislative Services projecting a $1.4 billion budget deficit in fiscal year 2027.
KBRA releases its third-quarter 2025 U.S. Bank Compendium, providing the latest view of the U.S. banking industry and analysis of 3Q25 results for publicly traded U.S. banks with KBRA ratings. In this edition, we examine how KBRA-rated banks continue to benefit from rate cuts by the Federal Open Market Committee that began in late 2024.
AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of ?aa? of Knights of Columbus. The ratings reflect the Order?s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
Bloom Energy Corp (BE) shares are trading higher Friday, recovering ground after a sharp pullback during the previous session. What To Know: Thursday's decline mirrored a widespread tech rout, as the Nasdaq-100 dropped over 2% amid hawkish comments from Federal Reserve officials regarding persistent inflation.
* Indexes: Dow down 0.32%, S&P 500 up 0.38%, Nasdaq up 0.68% * Financials drag on Dow but indexes set for weekly gains. * Walmart (WMT) falls after announcing CEO retirement. * Cidara Therapeutics (CDTX) soars on Merck's (MRK) buyout deal. By Twesha Dikshit and Purvi Agarwal.
Copper and other industrial metals fell on Friday, joining a broad market selloff sparked by hawkish remarks on interest rates from U.S. Federal Reserve officials, while weak data from top consumer China fanned concerns over demand.
The European stock markets closed out the week lower in Friday trading, as the Stoxx Europe fell 1.01%, Germany's DAX lost 0.64%, the FTSE 100 dropped 1.1%, France's CAC declined 0.76%, and the Swiss Market Index was down 0.84%. Seasonally adjusted GDP grew 0.2% in the euro area and 0.3% in the EU in Q3, compared with the previous quarter, according to a preliminary estimate from Eurostat, the ...
Swiss gold producers are interested in setting up shop in the United States in the future, said a senior Swiss economic affairs official on Friday at a press conference after a tariff agreement was reached with Washington. Gold, which is a large contributor to Switzerland's trade surplus with the United States, remains exempt from tariffs, according.
Wall Street's main indexes pared losses after being weighed down by technology stocks earlier Friday, while Federal Reserve officials cast doubt on a potential interest rate cut in December. Concerns about stretched AI stock valuations have triggered declines in recent weeks, putting the Nasdaq on course for its longest losing streak since April.
Wall Street's main indexes sank on Friday, weighed down by technology stocks, while Federal Reserve officials cast doubt on a potential interest rate cut in December. Concerns about stretched AI stock valuations have triggered declines in recent weeks, putting the Nasdaq on course for its longest losing streak since April.
* Gold up 2.3% so far this week. * Silver, platinum, palladium down 3% * Traders see a 50% chance of US interest rate cut in December. By Noel John and Pablo Sinha. Gold prices dropped 3% on Friday on a broader market sell-off, sparked by hawkish remarks from U.S. Federal Reserve officials, dimming hopes for a December interest rate cut.
Kansas City Fed President Jeffrey Schmid said Friday that the current stance of monetary policy is "modestly restrictive," which he said is appropriate given continued concerns about inflation.
Canada's main stock index dropped on Friday, dragged down by hawkish signals from U.S. Federal Reserve officials, a sweeping tech selloff and lower commodity prices. At 09:48 a.m. ET, Toronto's S&P/TSX composite index fell 0.8%, after dropping as much as 1.4% to its lowest level in a week, compounding Thursday's 1.9% decline.
-Kansas City Federal Reserve President Jeffrey Schmid on Friday said his concerns about "too hot" inflation go well beyond the narrow effects of tariffs alone, in fresh remarks that signaled he could dissent again at the Fed's December meeting should policymakers opt to cut short-term borrowing costs again.
AM Best has assigned a Long-Term Issue Credit Rating of ?bbb? to the recently announced CAD 150 million, 5.5% non-cumulative preferred stock issued by Intact Financial Corporation. The net proceeds of the offering are expected to be used by Intact for general corporate purposes. This press release relates to Credit Ratings that have been published on AM Best?s website.
-Wall Street's main indexes dipped on Friday, driven by a renewed selloff in technology stocks, while hawkish commentary from Federal Reserve officials added to doubts about an interest rate cut in December.
Wall Street's main indexes dipped on Friday, driven by a renewed selloff in technology stocks, while hawkish commentary from Federal Reserve officials added to doubts about an interest rate cut in December.
Canada's main stock index dropped over 1% on Friday, on hawkish comments from U.S. Federal Reserve officials and a broad selloff in technology stocks. At 9:31 a.m. ET, Toronto's S&P/TSX composite index was down 1.1% at 29,949.97 points.
Gold was sharply lower early on Friday as traders turn cautious amid weakening stock markets and lower expectations for another interest-rate cut from the Federal Reserve.
* Gold up 1.4% so far this week. * Silver, platinum, palladium down over 3% * Traders see a 53% chance of US interest rate cut in December. By Noel John and Pablo Sinha. Gold prices dropped more than 3% on Friday on a broader market sell-off, sparked by hawkish remarks from U.S. Federal Reserve officials, dimming hopes for a December interest rate cut.
-The S&P 500 and the Nasdaq rose in choppy trading on Friday after a brief technology selloff, while investors looked ahead to Nvidia's quarterly results next week and worried that the Federal Reserve may hold off on cutting U.S. interest rates in December.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 1.1% and the actively traded Invesco QQQ Trust was 1.7% lower in Friday's premarket activity as investors scale back chances of a December rate cut by the Federal Reserve.
The U.S. Treasury and Taiwan's central bank on Friday said they agreed to continue close consultations on macroeconomic and foreign exchange rate matters and both pledged to avoid manipulating the value of their currencies to gain a competitive advantage.
The U.S. Treasury and Taiwan's central bank on Friday said they agreed to continue close consultations on macroeconomic and foreign exchange rate matters and both pledged to avoid manipulating the value of their currencies to gain a competitive advantage.
The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, ahead of a series of appearances by Federal Reserve officials, followed by weekly natural gas stocks inventory data. The various government statistical agencies should begin next week to release the backlog of economic indicators caused by the government shutdown.
* World stocks deep in the red, US stock futures lower. * Investors see Fed rate cut next month as a toss-up. * Fed officials take hawkish view. * UK markets whipped around by budget talk. By Dhara Ranasinghe.
The benchmark US stock measures were tracking in the red before Friday's open as uncertainty around economic data releases weighed on hopes for a potential interest rate cut in December. The S&P 500 decreased 0.2%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.4% in premarket activity.
The Canadian dollar averaged almost C$1.400 last month, weakening 1.1% against the US dollar, said Bank of Montreal. So far this month, the Canadian dollar has weakened further to above C$1.406, faring relatively better than the norm as Bank of Canada easing prospects faded more meaningfully than those for the Federal Reserve, noted the bank.
Bitcoin dropped to its lowest level in six months on Friday, as a broad sell-off in risk assets deepened amid fading hopes that the Federal Reserve will cut U.S. interest rates at its upcoming policy meeting.
Executives at DWS, one of Europe's largest money managers, are thinking through the potential impacts in the unlikely event that the U.S. Federal Reserve limits access to dollar funding, the firm's CEO told Reuters.
Bitcoin traded below $96,000 for the first time in over six months on Friday, as a sell-off in risky assets accelerated on fading expectations for a December rate cut from the U.S. Federal Reserve.
* Gold up 3.7% so far this week. * Silver also headed for a weekly gain. * Market expects 49% chance of a quarter-point rate cut in December. By Anmol Choubey. Gold prices reversed earlier gains on Friday as hawkish comments from U.S. Federal Reserve officials clouded prospects for a December rate cut, although they remained set for a weekly gain supported by wider economic uncertainty.
Commerzbank in its "European Sunrise" note of Friday highlighted: Markets: United States Treasuries recover in Asia as tech fears take over from wavering Federal Reserve cut expectations. Fed: Minneapolis Federal Reserve President Neel Kashkari still undecided on December as inflation is still too high, but parts of the labor market under pressure.
Futures for Canada's main stock index fell on Friday, as hawkish comments from U.S. Federal Reserve officials dampened hopes of a December rate cut. Canada's benchmark index tumbled 1.9% on Thursday - its sharpest drop since April - as tech shares led a broad retreat, erasing much of the prior day's rally that had propelled it to a record high.
-Wall Street stocks ended mixed on Friday as investors looked ahead to Nvidia's quarterly results next week and worried that the Federal Reserve may hold off on cutting U.S. interest rates in December.
* Futures down: Dow 0.2%, S&P 500 0.2%, Nasdaq 0.4% U.S. stock index futures dipped on Friday, signaling a fresh round of selloff on Wall Street after hawkish comments from Federal Reserve officials added to doubts about an interest rate cut in December.
* Gold up 4.3% so far this week. * Silver set for best week since September 2024. * Market expects 49% chance of a quarter-point rate cut in December. By Anmol Choubey. Gold prices see-sawed on Friday as hawkish comments from U.S. Federal Reserve officials clouded prospects for a December rate cut, although they remained set for a weekly gain supported by wider economic uncertainty.
* EM stocks tank 1.7%, FX flat. * Polish inflation at 2.8% y/y in October. * Romanian quarterly growth contracts in Q3. * Senegal bonds eye worst week on record. * South Korea vows to stabilise won; intervention suspected after slide. By Nikhil Sharma.
S&P Global Ratings said on Friday it has downgraded its rating of Nissan Motor's (NSANF) credit by one notch on continuing pressure on its profitability, while taking a negative view of the outlook for the Japanese automaker. The credit-rating firm cut its long-term rating on the company and its overseas subsidiaries to "BB-" from "BB".
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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