28 FOMC meeting show considerable diversity among the participants, with some advocating for further rate cuts, some saying that the FOMC should pause of the foreseeable future and others who suggested that the next rate move could be upward rather than downward if inflation rebounds.
Housing starts rose by 6.2% to a 1.404 million annual rate in December, compared with expectations for a smaller increase, with single-family housing starts and multi-family starts both higher. Building permits rose by 4.3% to a 1.448 million rate in December, lifted by multi-family permits offset by a decline in single-family permits.
* Fed minutes show division, talk of rate hikes. * Gold rebounds from one-week low. * December PCE data due on Friday. * Silver rises more than 5% By Anmol Choubey.
There were clear divisions among Federal Open Market Committee members on how the path of monetary policy should evolve going forward, with some calling for recognition that the next move could possibly be upward rather than downward, minutes of the Jan. 27-28 FOMC meeting released Wednesday showed.
Colleagues and friends described the investment banker and former deputy state treasurer as a man of integrity with a certain gravitas, a charismatic presence and a calming influence.
* 28 meeting. * Policymakers saw job, inflation risks as diminished last month. * 'Several' officials saw risk that rates may need to rise. * Artificial intelligence's impact on jobs, productivity is now part of Fed's discussion. By Howard Schneider and Ann Saphir.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF adding 1%. The Philadelphia Housing Index was 0.2% lower, and the State Street Real Estate Select Sector SPDR ETF was down 1.2%. Bitcoin was declining 1.4% to $66,638, and the yield for 10-year US Treasuries was up 3 basis points to 4.08...
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF adding 1%. The Philadelphia Housing Index was fractionally higher, and the State Street Real Estate Select Sector SPDR ETF was falling 1.2%. Bitcoin was declining 1.4% to $66,638, and the yield for 10-year US Treasuries was decreasing 3 ...
Kevin Hassett on Wednesday called for researchers at the Federal Reserve Bank of New York to be ?disciplined,? after the bank published a paper concluding that 90% of Trump?s tariff costs are falling on U.S. consumers and companies rather than foreign exporters. ?The paper is an embarrassment,? the National Economic Council director said on CNBC?s Squawk Box.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 1% on Wednesday. The Dow traded up 0.57% to 49,814.98 while the NASDAQ rose 1.25% to 22,860.17. The S&P 500 also rose, gaining, 0.84% to 6,900.97. Check This Out: How To Earn $500 A Month From Goldman Sachs Stock Ahead Of Q4 Earnings Leading and Lagging SectorsEnergy shares gained by 1.6% on Wednesday.
The Texas city, which has been hit with negative rating actions over its water woes, signaled it will issue revenue bonds in its hunt for new supplies.
Canadian headline inflation was flat over the month in January, non-seasonally adjusted, a little softer than consensus expectations for a 0.1% month over month rise, said UBS. The annual rate of inflation moved down to 2.3% from 2.4% in December.
* Gold rebounds from one-week low. * January FOMC minutes due at 2 p.m. ET. * December PCE data due on Friday. * Silver rises more than 6% By Anmol Choubey. Gold rose more than 2% on Wednesday, as ?investors assessed simmering geopolitical risks and awaited the U.S. ?Federal Reserve's January meeting minutes due later in the day.
US housing starts increased in December to the highest level since July, buoyed by double-digit gains in multi-family units, delayed government data showed Wednesday. Housing starts rose 6.2% sequentially to a seasonally adjusted annual rate of 1.4 million units in December, according to the Census Bureau and the Department of Housing and Urban Development.
Tuesday's consumer price index report showed further signs that inflation is getting back to around the Bank of Canada's 2% target, said Bank of Montreal. This is good news, but it still might not feel good to many Canadians, noted the bank.
* Kiwi falls as RBNZ holds rates, says policy to remain accommodative. * Dollar strengthens after US data. * Yen weakens as Japan set to begin US investments. By Chuck Mikolajczak.
Canadian existing home sales declined 5.8% month over month in January, said TD after Tuesday's data. Sales were lower in every province in Canada last month, with steep drops recorded in Manitoba, Ontario and British Columbia. New listings surged 7.3% month over month in January. Canadian average home prices declined 1.7% month over month amid falling demand and rising supply.
Royal Bank of Canada Wednesday announced the creation of the AI Group, a newly established team reporting to the chief executive officer which it said will "accelerate the bank's AI ambitions over the next several years."
* Core capital goods orders increase 0.6% in December. * Shipments of core capital goods jump 0.9% * Manufacturing production advanced 0.6% in January. * Single-family housing starts rise 4.1%; building permits fall 1.7% By Lucia Mutikani.
Johnson & Johnson (JNJ) said on Wednesday it will invest more than $1 billion to build a new cell therapy facility in Pennsylvania, part of its larger ?plans announced last year to scale up ?U.S. manufacturing amid President Donald Trump's tariff threats.
Kevin Hassett, a top economic adviser to President Donald Trump, on Wednesday said those behind a New York Federal Reserve research paper that argued the costs of tariffs are borne mostly by Americans should be punished for what he described as shoddy scholarship. "The paper is an embarrassment," Hassett said in a CNBC interview.
Genesis Energy said Wednesday it is starting a registered underwritten public offering of $500 million of senior notes due 2034, subject to market conditions. The notes will be co-issued with unit Genesis Energy Finance, the company said.
The Canadian consumer price index data released on Tuesday was "simply superb" -- if you are long the Government of Canada bond market and of the view that the door is, in fact, still open for more Bank of Canada rate relief, according to Rosenberg Research.
* Gold rebounds from one-week low. * January FOMC minutes due at 2 p.m. ET. * December PCE data due on Friday. By Anmol Choubey. Gold rose more than 1% on Wednesday as investors ?assessed simmering geopolitical risks, while markets also awaited the ?U.S. Federal Reserve's January meeting minutes due later in the day. Spot gold was up 1.7% at $4,957.70 per ?ounce by 9:15 a.m. ET.
CNO survey finds one in three middle-income Americans ages 50 to 85 are less confident in their retirement plans as confidence in future of Social Security and Medicare weakens CARMEL, Ind.
Contact lens makers are poised for steadier growth in 2026 after a slight slowdown in the previous year, banking on rising demand for premium daily disposables and increased vision correction needs globally.
U.S. single-family homebuilding rebounded in December, but a decline in permits for future construction pointed to underlying weakness amid higher ?mortgage rates and material costs.
U.S. single-family homebuilding rebounded in December, but a decline in permits for future construction pointed to underlying weakness amid ?higher mortgage rates and material costs. The reports were delayed by last year's shutdown of ?the federal government. Permits ?for ?future single-family homebuilding slipped 1.7% to a rate of 881,000 units in December.
December housing starts rose by 6.2% from the previous month to a 1.404 million annual rate, well above expectations compiled by Bloomberg for a 1.304 million rate after an increase to a 1.322 million pace in November. Building permits rose by 4.3% to a 1.448 million rate in December, above the 1.400 million rate expected and following a decline to a 1.388 million rate in November.
The former governors of the Spanish and Dutch central banks are seen as the front-runners to replace Christine Lagarde at the helm of the European Central Bank, likely in a broader political deal that could see both of them end up with a major job.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust was up 0.3% and the actively traded Invesco QQQ Trust advanced 0.4% in Wednesday's premarket activity, ahead of the release of the Federal Reserve's meeting minutes.
Genesis Energy, L.P. (GEL) today announced the commencement, subject to market and other conditions, of a registered, underwritten public offering of $500,000,000 in aggregate principal amount of senior notes due 2034. BofA Securities is leading the offering along with several joint book-running managers and co-managers.
* Gold rebounds from one-week low. * January FOMC minutes due at 1900 GMT. * December PCE data due on Friday. By Pablo Sinha. Gold prices rose more than 1% on Wednesday, rebounding ?from a one-week low hit in the previous ?session, as investors awaited the minutes of the U.S. Federal Reserve's January meeting due later in the ?day. Spot gold was up 1% at $4,927.19 per ounce by 1240 GMT.
Moody's forecast annual profit above estimates on Wednesday, betting on sustained demand for its credit ratings amid surging debt issuance. Shares of the company ?rose about 2% in premarket trading.
Canadian housing starts slipped more than 15% in January as tough winter weather posed a challenge, said Bank of Montreal. While the monthly series is "choppy," it's clear that housing starts remain historically elevated even as market activity for new and existing homes is subdued, noted the bank.
The US dollar rose against its major trading partners early Wednesday, except for a decline versus the pound, ahead of busy day of economic releases that starts with housing starts and durable goods orders data for December and the New York Federal Reserve's services reading for February, all at 8:30 am ET.
Canadian inflation readings have been somewhat "messy" for more than a year now, owing to a variety of tax changes -- notably the removal of the carbon tax in April 2025 and the GST holiday just over a year ago, said Bank of Montreal.
* Easing inflation strengthens case for BoE rate cut. * Services inflation remains above expectations. * Political pressure on PM Starmer could resurface next week. By Samuel Indyk. The pound was little changed against the dollar as easing British ?inflation strengthened the case for a near-term rate cut ?from the Bank of England, even as underlying price pressures remained strong.
The Canadian province of British Columbia is projecting a $13.3 billion deficit in FY26/27, or a "hefty" 2.9% of gross domestic product, said Bank of Montreal. The FY25/26 deficit was revised down to $9.6 billion, while still-large deficits persist through the forecast horizon, noted the bank.
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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