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The Toronto Stock Exchange is up near 100 points at midday with energy, up 2.2%, and industrials the best performers. Limiting gains are declines in materials and financials. On the domestic front, TD Economics noted Canada's trade deficit halved from $2.6 billion in November to $1.3 billion in December.

The European stock markets look set to close lower Thursday trading as The Stoxx Europe lost 0.5%, Germany's DAX dropped 0.9%, the FTSE 100 was down 0.6%, France's CAC declined 0.4%, and the Swiss Market Index edged 0.1% lower.

Nippon Steel (NISTF) sees no need to cut capacity at U.S. Steel and expects the business to contribute to earnings in fiscal 2026, up from zero this year, helped by stronger steel prices and technology transfer, Chief ?Financial Officer Takahiko Iwai said.

* US jobless claims fall. * Euro declines on ECB leadership speculation. * Fed divided on rate cuts, market cautious. By Chuck Mikolajczak. The dollar rose for a fourth straight session on Thursday after data indicated the economy was stable, giving ?the Federal Reserve leeway to hold interest rates in ?check. "It doesn't look like an economy suffering from higher rates.

A deep look at predictions on Kalshi called such platforms valuable to policymakers and researchers, according to a new Fed paper.

Nippon Steel (NISTF) sees no need to cut capacity at U.S. Steel and expects the business to contribute to earnings in fiscal 2026, up from zero this year, helped by stronger steel ?prices and technology transfer, Chief Financial Officer Takahiko Iwai ?said.

Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.01%. ?Mortgage rates dropped again this week, now down to their lowest level since September of 2022,? said Sam Khater, Freddie Mac?s Chief Economist.

For years, warnings about government deficits and borrowing sounded abstract. With rising debt, the cost of servicing is accelerating beyond even the largest individual government spending. America's $38 trillion national debt is so big that the nearly $1 trillion interest payment will be larger than Medicare soon, Fortune noted last month. That's a remarkable shift.

* US weekly jobless claims fall more than expected. * Key US inflation data due on Friday. * Fed minutes show officials grappling with policy split. By Anmol Choubey. Gold prices rose on Thursday as investors ?assessed U.S.-Iran tensions, while a drop in U.S. jobless ?claims signalled labour-market stability ahead of inflation data later this week.

Canada's merchandise trade deficit was chopped in half in December to $1.3 billion, a somewhat smaller gap than expected in this "bouncy" series, said Bank of Montreal after Thursday's data.

Fitch: * ?FITCH RATINGS: TURKIYE'S ?FINANCIAL ?AND PUBLIC ?SECTORS ON NEUTRAL OUTLOOKS ?FOR ?2026. * ?FITCH: ?IN TURKEY, EXPECT ?EASING ?INFLATION, ?LOWER INTEREST RATES & CONTINUED ACCESS TO ?FOREIGN-CURRENCY ?FUNDING TO SUPPORT LEASING ?COMPANIES.

A new working paper from Fed economists, alongside researchers at Northwestern and Johns Hopkins, concludes that Kalshi rivals or beats professional Wall Street forecasts on key economic data, and does it in real time. On headline CPI, Kalshi delivered a statistically significant improvement over the Bloomberg consensus forecast.

Societe Generale said this week's United Kingdom consumer price index print, which was the only release ahead of the March Bank of England policy meeting, was the main hurdle to a March rate cut, especially after Tuesday's labor data confirmed the ongoing trends of the jobs market loosening and easing wage growth.

The International Monetary Fund said on Thursday that continued reserve accumulation by ?Argentina is essential ?for securing durable access to private credit ?markets after the central bank ?has purchased over $2 billion in ?foreign currency ?since the start of 2026.

* Trade deficit widens 32.6% to $70.3 billion in December. * Goods imports increase 3.8%; exports decline 2.9% * Weekly jobless claims fall 23,000 to 206,000. * Continuing claims rise 17,000 to 1.869 million. By Lucia Mutikani.

As has often been the case recently, the change in Canada's trade balance in December could largely be explained by fluctuations in the metal and non-metallic mineral products sector, particularly in the unwrought gold, silver and platinum group metals sub-sector, National Bank of Canada said.

The call by a top Trump administration official for New York Federal Reserve staff to "be disciplined" for recent research on tariffs was just the latest move by the administration to undermine the independence of the central bank, Minneapolis Fed president Neel?Kashkari said on Thursday.

* Kashkari criticizes Hassett's comments as undermining Fed independence. * Fed's independence challenged by Trump administration actions. * Political pressure complicates Fed chair nomination process.

Canada's merchandise trade deficit narrowed to $1.3 billion in December from a revised $2.6 billion in the prior month, said CIBC. Exports rose 2.6% on the month, although excluding the volatility in the metal and non-metallic mineral sector, exports were actually little changed, noted the bank.

NEW YORK, Feb. 19, 2026 The Conference Board Leading Economic Index? for the US declined by 0.2% in December 2025 to 97.6, following a 0.3% decline in November and a downwardly revised 0.2% decline in October.

Canada's trade deficit was slashed in half in December, narrowing from $2.6 billion in November to $1.3 billion in December, said TD. Exports in December advanced 2.6% month over month, partially recovering last month's dip. Exports of aircraft also contributed meaningfully. Goods imports edged higher by 0.6% month over month in December, with six of 11 subsectors booking gains.

CINCINNATI, Feb. 19, 2026 ?The Federal Home Loan Bank of Cincinnati today released unaudited financial results for the year ended December?31, 2025. Overview Throughout 2025, the FHLB successfully delivered on its dual mission of providing ongoing access to liquidity funding for member financial institutions and continuing to support affordable housing and community investment.

* ECB selecting banks that want to take part in pilot phase. * ECB setup costs to reach around 1.3 bln euros, Cipollone says. * Banks to pocket fees, won't have to pay system costs to ECB. * Merchants will also have an incentive in terms of cap on fees. By Valentina Za.

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 250 points on Thursday.

The U.S. trade deficit widened sharply in December amid a surge in imports, and the goods shortfall in 2025 was the highest on record despite President Donald Trump's tariffs on foreign manufactured merchandise.

The U.S. trade deficit widened sharply in December amid a surge in imports, and the goods shortfall in 2025 was the highest on record despite President Donald Trump's tariffs on foreign manufactured merchandise. The trade gap ballooned 32.6% ?to $70.3 billion, the Commerce Department's Bureau of Economic Analysis ?and Census Bureau said on Thursday.

* US weekly jobless claims fall more than expected. * US PCE data due on Friday. * Fed minutes show officials grappling with policy split. By Anmol Choubey. Gold prices were little changed on Thursday ?as investors monitored U.S.-Iran tensions, while a ?drop in U.S. jobless claims signalled labour-market stability ahead of inflation data later this week.

Gold was mostly steady early Thursday, sticking above the US$5,000 mark despite closed China markets as tensions between the United States and Iran rise, while the dollar was higher as minutes from the last meeting of the Federal Reserve's policy committee indicated the central bank may not be ready for another cut to interest rates.

The Federal Home Loan Bank of Pittsburgh announced today unaudited financial results for the full year and fourth quarter ended December 31, 2025. This press release features multimedia.

?Twenty-three of the top 30 markets recorded annual declines, while national appreciation held below 1 percent, says Chief Economist Mark Fleming? First American Data & Analytics, a leading national provider of property-centric information, risk management and valuation solutions and a division of First American Financial Corporation (FAF), today released its January 2026 Home Price Index report.

Canada's merchandise trade deficit narrowed to $1.3 billion in December from a revised $2.6 billion in the prior month, although once again the move was largely driven by volatility in the trade of gold, said CIBC after Thursday's data release.

Ballard has shuttered its decades-old public finance practice.

Canada's merchandise trade deficit with the world narrowed to $1.3 billion in December from $2.6 billion in November, as exports increased 2.6% month over month, while imports were up 0.6% month over month, said the country's statistical agency on Thursday. December's deficit was lower than the $2.10 billion consensus deficit provided by MUFG.

The number of Americans filing new applications for unemployment benefits fell more than expected last week, consistent with a stabilizing labor market. Initial claims for state unemployment benefits dropped 23,000 to a ?seasonally adjusted 206,0000 for the week ended February ?14, the Labor Department said on Thursday.

The US international trade deficit widened to $70.31 billion in December from a $53.04 billion gap in November, compared with a $55.5 billion gap expected in a survey compiled by Bloomberg as of 7:30 am ET. Exports decreased in the month, led by a sharp drop in industrial supplies and the "other goods" category that was partially offset by higher exports of consumer goods, autos and capital goods.

TPG Inc. (TPG), a leading global alternative asset management firm, today announced that TPG Operating Group II, L.P., an indirect subsidiary of TPG, intends to offer senior notes due 2031 in a registered public offering, subject to market and other conditions.

The number of Americans filing new applications for unemployment benefits fell more than expected last week, consistent with a stabilizing labor market. Initial claims for state unemployment benefits dropped 23,000 to a ?seasonally adjusted 206,0000 for the week ended February ?14, the Labor Department said on Thursday.

US initial jobless claims decreased to a level of 206,000 in the employment survey week ended Feb. 14 from an upwardly revised 229,000 level in the previous week, compared with expectations for a level of 225,000 in survey of analysts compiled by Bloomberg. Initial claims were at a level of 210,000 in the employment survey week ended Jan. 17.

Canada's trade deficit narrowed in December even as its share of exports to the United States dropped to the?lowest level on record, barring two months during the peak of the COVID-19 pandemic, data showed on Thursday.