US consumer spending growth unexpectedly held steady in December, while the Federal Reserve's preferred inflation metric accelerated more than Wall Street's estimates to 3% year over year, delayed government data showed Friday. Personal consumption expenditures rose 0.4% in December, unchanged from the month prior, the Bureau of Economic Analysis said in a report.
AM Best has assigned a Long-Term Issue Credit Rating of ?a-? to the recently announced CAD 250 million, 3.784% senior unsecured medium-term notes, due February 2038, issued by Intact Financial Corporation. The net proceeds from Intact?s debt offerings will be used toward repayment of any amounts that it previously borrowed, and general corporate purposes.
* Dollar on pace for biggest daily drop in two weeks. * Supreme Court rules against Trump's tariffs. * U.S. GDP growth falls short of expectations, impacted by government shutdown. By Chuck Mikolajczak.
U.S. economic growth slowed more than expected in the fourth quarter, with government spending posting its biggest decline since 1972 because of last year's shutdown, but other data remained consistent with a steady pace of expansion. Most of the?drag on gross domestic product from the 43-day shutdown, however, will likely be reversed in the first quarter.
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of Ma?aden Re Limited, a captive reinsurer of Saudi Arabian Mining Company. The ratings reflect MRE?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.
President Donald Trump seemingly flagged a disappointing end-of-year reading on U.S. economic growth before it was made public, criticizing the role Democrats played in an extended government shutdown last fall that pulled down the economy's headline output numbers. "The Democrat Shutdown cost the U.S.A. at least two points in GDP.
President Donald Trump seemingly flagged a disappointing end-of-year reading on U.S. economic growth before it was made public, criticizing the role Democrats played in an extended government shutdown last fall that pulled down the economy's headline output numbers. "The Democrat Shutdown cost the U.S.A. at least two points in GDP.
The University of Michigan consumer sentiment index was revised downwards Friday to a reading of 56.6 for February from the 57.3 print in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg. That was higher than the final reading of 56.4 in January.
The stagflation narrative roared back to life Friday ? and precious metals wasted no time responding. Gold prices ? as tracked by the SPDR Gold Shares (GLD) ? jumped 1% to $5,060 per ounce, accelerating after the Bureau of Economic Analysis released weaker-than-expected fourth-quarter GDP data alongside firmer inflation readings. Silver climbed nearly 4%, pushing back above $81.
Wall Street indexes opened ?lower on Friday ?after data showed ?U.S. economic growth ?slowed more ?than expected ?in the fourth ?quarter ?and inflation picked up in December.
US stocks look set to open lower in Friday's trading session as investors parse GDP growth that fell short of analyst forecasts, and inflation data that rose slightly more than expected. The Dow Jones Industrial Average futures were off 0.3%, S&P 500 futures declined 0.4%, and Nasdaq futures were 0.5% lower.
* US economic growth slows sharply in the fourth quarter. * US PCE inflation heats up in December. * Goldman sees slowdown in central bank gold buying as temporary. By Anmol Choubey.
Editor?s note: This story was updated to add details, context. U.S. gross domestic product grew at an annualized rate of 1.4% in the fourth quarter of 2025, according to advance estimates released Friday by the Bureau of Economic Analysis. The figure marks a sharp slowdown from the prior quarter's 4.4% expansion pace and came in sharply below economists' expectations for 3% growth.
* Akamai Technologies (AKAM) slides after dour Q1 profit outlook. * US economic growth slows sharply in the fourth quarter. * US PCE inflation heats up in December. * Futures down: Dow 0.22%, S&P 500 0.28%, Nasdaq 0.43% By Sruthi Shankar and Shashwat Chauhan. Feb 20 - Wall Street indexes were on track to open lower on Friday after data ?showed.
Rosenberg Research said it noted with interest that the speculators in the CME futures & options pits turned net bullish on the Canadian dollar last week for the first time since August 2023. It seemed this was based on a belief that the Bank of Canada was done easing, noted Rosenberg Research. Rosenberg added that it was "skeptical" on this and would likely bet against this consensus.
HA Sustainable Infrastructure Capital (HASI) said Friday it has priced a registered public offering of $400 million of 6.000% green senior unsecured notes due 2036.
German Finance Minister Lars Klingbeil said ?on Friday that ?the discussion about the ?term length of ECB ?President Christine Lagarde ?was "speculation", ?but that when it came ?time to ?find a successor, Germany would participate ?actively.
U.S. Treasury yields pared their earlier drop on Friday but ?remained lower on the ?day after data showed that inflation was higher ?than economists' forecasts in December, while ?gross domestic product for ?the fourth ?quarter was well below expectations.
US economic growth, measured by gross domestic product, rose by 1.4% in Q4 after a 4.4% gain in the previous quarter, slower than a 2.8% increase expected in a survey compiled by Bloomberg. Personal consumption expenditures rose by 2.4% after a 3.5% gain, right in line with a 2.4% gain expected. Government spending was subtraction from Q4 GDP, likely due to the government shutdown in the quarter.
Underlying U.S. inflation increased more than expected in December, and signs are pointing to a further acceleration in January, which would strengthen expectations that the Federal Reserve would not cut interest rates before June.
Underlying U.S. inflation increased more than expected in December, and signs are pointing to a further acceleration in January, which would strengthen expectations that the Federal Reserve would not cut interest rates before June.
U.S. stock index futures dipped on Friday after data showed U.S. economic growth ?slowed more than expected in ?the fourth quarter, while inflation rose more ?than economists' estimates in December. The Commerce ?Department's report showed U.S. ?GDP increased ?at a 1.4% annualized rate last quarter after ?accelerating at a ?4.4% pace in the July-September quarter.
U.S. economic growth slowed more than expected in the fourth quarter, with government spending posting its biggest decline since 1972 because of last year's shutdown, but other data remained consistent with a steady pace of expansion. Most of the?drag on gross domestic product from the 43-day shutdown, however, will likely be reversed in the first quarter.
U.S. gross domestic product grew at an annualized rate of 1.4% in the fourth quarter of 2025, according to advance estimates released Friday by the Bureau of Economic Analysis. The figure marks a sharp slowdown from the prior quarter's 4.4% expansion pace and came in sharply below economists' expectations for 3% growth.
* Fourth-quarter economic growth increases at 1.4% rate. * Consumer spending slows; inflation heats up. * Business investment on research and development accelerates. By Lucia Mutikani.
HA Sustainable Infrastructure Capital, Inc. (HASI), a leading investor in sustainable infrastructure assets, announced that yesterday, on February 19, 2026, it priced its registered public offering of $400 million in aggregate principal amount of 6.000% green senior unsecured notes due 2036.
* Miner's earnings up 186% on record gold price, higher output. * AngloGold declares record $1.8 billion dividend in 2025. * Declares 4.9 million ounces at US project after study. * US project capex forecast at $3.6 billion. By Nelson ?Banya.
US stock futures are tracking slightly lower in Friday's premarket session as investors await key GDP and inflation data coming out later in the morning. The Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures were off 0.2% each.
* Dollar up around 1% this week. * Increasing US-Iran tension in focus. * Investors also awaiting US PCE, GDP data. By Sophie Kiderlin. The dollar was on track for its largest weekly rise since October as it remained steady on Friday, buoyed by better-than-expected economic data and a more hawkish Federal Reserve outlook, while tensions rose between the United States and Iran.
The US dollar was mixed against its major trading partners early Friday -- up versus the euro and yen, down versus the pound and Canadian dollar -- ahead of the first look at Q4 GDP and personal income, spending and price data for December, all due to be released at 8:30 am ET.
The British pound hovered around its lowest in a month against the dollar on Friday, and was headed for its biggest weekly decline since January 2025, as investors weighed mixed ?economic data and added to bets on Bank of ?England interest rate cuts.
* Futures: Dow, S&P 500, Nasdaq flat. U.S. stock index futures were flat on Friday as investors awaited key economic data to gauge the ?path of monetary policy easing for the year while monitoring ?tensions with Tehran and a potential U.S. Supreme Court decision on Trump's tariffs.
Canada's new home price index fell a "heavy" 0.4% month over month in January, and was down an even larger 0.6% month over month for the "house only" part -- in other words, not including land prices, said Bank of Montreal. The latter feeds into the monthly consumer price index with a one-month delay, and that large drop will as such dampen next month's result, noted the bank.
Global equity funds received their strongest inflows in five weeks in the seven days to February 18, as easing concerns over artificial intelligence stocks and investor rotation into other sectors supported demand, ?while renewed hopes for Federal Reserve rate cuts ?lifted sentiment toward U.S. growth.
Trade tensions between Canada and the United States have intensified, fueling economic uncertainty at the start of a crucial year for the renewal of the USMCA trade agreement, said National Bank of Canada.
Global equity funds received their strongest inflows in five weeks in the seven days to February 18, as easing concerns over artificial intelligence stocks and investor rotation into other sectors supported demand, ?while renewed hopes for Federal Reserve rate cuts ?lifted sentiment toward U.S. growth.
* Lagarde plans to complete ECB term amid succession speculation. * German 10-year yields decline for second week. * Euro area bonds outperform US Treasuries. By Amanda Cooper and Stefano Rebaudo.
Commerzbank in its "European Sunrise" note of Friday highlighted: Markets: United States Treasuries recover into the New York close, stay supported in Asia as Japanese government bonds rally. Fed: Federal Reserve Governor Stephen Miran says he would move his dot back up to where it was in September due to the improving labor market.
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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