* US 10-year yields hit lowest since November. * Belly of the curve outperforms, with multi-month lows in yields. * US 2/10 yield curve flattens again. * US PPI hotter than expected, but impact is brief. By Gertrude Chavez-Dreyfuss.
All three major US stock indexes were down in late-morning trading Friday, with the Dow Jones Industrial Average down over 1%, as stocks fell after the release of a hotter-than-expected producer price index earlier in the day. The US Producer Price Index rose by 0.5% in January, well above the 0.3% gain expected in a survey compiled by Bloomberg and up from the 0.4% rise in December.
The European stock markets were mostly higher in Friday trading as The Stoxx Europe gained 0.2%, Germany's DAX was up 0.1%, the FTSE 100 rose 0.7%, France's CAC was off 0.5%, and the Swiss Market Index increased 0.7%. In France, GDP decelerated in Q4, expanding 0.2% after growing 0.5% in Q3, according to the Institute of Statistics and Economic Studies, or INSEE.
The U.S. dollar was headed for its first monthly gain since October on Friday, although an earlier rally on hotter-than-expected producer price data for January faded as traders squared positions for the month-end and ahead of the weekend. The U.S. currency got a boost after data showed the Producer Price Index for final demand rose 0.5% last month.
AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb+? of ICICI Lombard General Insurance Company Limited.
* PPI rose 0.5% in January, exceeding expectations. * Dollar gains amid US-Iran tensions and potential conflict. * Dollar index heads for first monthly gain since October. By Karen Brettell. The U.S. dollar rose on Friday after hotter-than-expected producer price data for January and on concerns about rising tensions between the United States and Iran.
U.S. construction spending increased in December, lifted by a rebound in single-family homebuilding as well as ongoing strength in home renovations. The Commerce Department's Census Bureau said on Friday that construction spending rose 0.3% after falling 0.2% in November. Spending on private construction projects rose 0.5% in December after easing 0.2% in November. Renovations increased further.
US producer prices rose at the fastest pace in four months in January as growth in the services index hit the highest since July, government data showed Friday. The producer price index increased 0.5% on a seasonally adjusted basis, accelerating from a 0.4% rise in December and representing the biggest gain since September, the Bureau of Labor Statistics said.
US construction spending rose by 0.3% in December, compared with a 0.2% increase expected in a survey compiled by Bloomberg and following a 0.2% decrease in November.
AM Best affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aa+? of RSUI Indemnity Company and its reinsured subsidiaries, collectively referred to as RSUI Group.
The Canadian economy contracted modestly in Q4, although it ended the quarter on a slightly better footing than originally estimated, said CIBC after Friday's gross domestic product data release.
Fairfax Financial Holdings Friday said its has completed its $650 million senior notes offering. The company completed an offering of $400 million of 4.40% notes due 2036 and an additional $250 million of 5.10% notes due 2055. Proceeds will be used to pay down debt or to pursue potential acquisition or investment opportunities. MT Newswires does not provide investment advice.
Canadian real gross domestic product rose 0.2% month over month in December, driven by increases in both services-producing and goods-producing industries, said the country's statistical agency on Friday. December's GDP growth beat a 0.2% month-over-month consensus contraction provided by Scotiabank.
U.S. producer prices accelerated in January, with the cost of goods outside the volatile food and energy category increasing by the most in more than three and a half years as businesses passed on import tariffs and raised prices at the start of 2026.
U.S. producer prices increased more than expected in January, likely as businesses passed on higher costs from import tariffs, suggesting inflation could pick up in the months ahead. The Producer Price Index for final demand rose 0.5% last month after advancing by a downwardly revised 0.4% in December, the Labor Department's Bureau of Labor Statistics said on Friday.
The US Producer Price Index rose by 0.5% in January following a 0.4% increase in December, well above a 0.3% gain expected in a survey compiled by Bloomberg. Energy prices fell by 2.7% in the month, while food prices declined by 1.5%. After excluding food and energy prices, core PPI rose by 0.8%, well above the 0.3% gain expected and following a 0.6% gain in the previous month.
* * Economic contraction driven by business inventory drawdown. * Full-year growth 1.7%, in line with Bank of Canada forecast. * GDP growth might stall in January on manufacturing slowdown. By Promit Mukherjee.
Canada gets a trio of gross domestic product readings at 8:30 a.m. ET on Friday, said Scotiabank. Key will be how it relates to the Bank of Canada's expectations for 0% Q4 growth and a 1.8% rebound in Q1, noted Scotiabank.
Consumer prices in Brazil rose more than expected in the month to mid-February, official data showed on Friday, but that should not prevent the central bank from kicking off a monetary easing cycle next month.
Investors will receive Canada's Q4 and December gross domestic product data on Friday and they should confirm that the local economy, at best, is flattening out, said Rosenberg Research. At the same time, the Bay Street view that everything is "okay"with the Canadian economy and surely nothing for the Bank of Canada to get too excited about, noted Rosenberg Research.
Lawsuits against the Los Angeles Department of Water and Power over wildfire liability crystalize the need for state governments to take the lead, said MMA's Matt Fabian.
DuPlooy Law, a boutique business law firm based in Calgary, is excited to announce the expansion of its international business law services to better serve companies navigating cross-border transactions, mergers and acquisitions, and global growth strategies.
The US dollar was mixed against its major trading partners early Friday -- up versus the euro and pound, down versus the yen and Canadian dollar -- ahead of the release of producer price index data for January at 8:30 am ET, the Chicago purchasing managers' index for February at 9:45 am ET and construction spending for December at 10:00 am ET.
Zimbabwe's central bank Friday said its Monetary Policy Committee decided to keep its Bank Policy Rate at 35.0%. "The tight monetary policy stance adopted by the Reserve Bank since September 2024 has engendered a progressive disinflation trajectory and delivered a singledigit inflation starting in January 2026," wrote the central bank in its policy statement.
Brazil's public sector gross debt held steady at 78.7% of gross domestic product in January, central bank data showed on Friday, while economists polled by Reuters expected it to rise to 79.0% of GDP. The public sector recorded a primary surplus of 103.689 billion reais for the month, compared with the 103.2 billion reais surplus expected in the poll.
NextEra Energy (NEE/PU) said late Thursday it priced its public offering of $2 billion in equity units, expected to close on Tuesday. Each equity unit, to be issued at $50, will consist of a contract to purchase NextEra Energy (NEE/PU) common stock, as well as undivided beneficial interests in two series of debentures, each with a $1,000 principal amount, issued by NextEra Energy Capital (NEE/PU), the company said.
Copper prices hit a four-week high on Friday and were set for a seventh consecutive monthly gain as demand optimism outweighed concerns over stocks piling up. Benchmark three-month copper on the London Metal Exchange rose 0.4% to $13,355.50 a metric ton by 1700 GMT after touching $13,527, its highest since January 30.
JPMorgan's analysts said they were closing their long offshore Chinese yuan position after the country's central bank cut the cost of buying dollar forwards on Friday in a bid to tame the yuan's recent rally.
The province of Alberta in Canada is budgeting for a larger deficit in the upcoming fiscal year, with a $9.4 billion shortfall, or 1.9% gross domestic product, up from a revised $4.1 billion, 0.8% GDP, estimate for the outgoing year, said CIBC.
* India remains fastest-growing major economy globally. * Modi's government revamps economic data for accuracy. * Growth at 7.8% in October-December quarter; projected at 7.6% in 2025-26. * Private consumption expands 8.7% year-on-year in Q3. * 2026/27 growth seen at 7%-7.4% under new GDP series, economic adviser says. By Nikunj Ohri, Manoj Kumar and Shubham Batra.
Sunoco (SUN) said late Thursday it priced a $1.2 billion private offering of its senior notes at 100%, upsized from a previously planned $1 billion. The upsized offering comprises $600 million of 5.375% notes due 2031 and $600 million of 5.625% notes due 2034. The company expects the offering to close March 9 and plans to use the net proceeds to redeem certain notes, among other things.
Even as updated inflation data shows persistent price pressures, the Federal Reserve faces continued uncertainty over interest rates, according to researchers at Florida Atlantic University. The Personal Consumption Expenditures Price Index, which is the Federal Reserve?s preferred measure of inflation, grew at a continuously compounding annualized rate of 4.4% in the last month of 2025.
The Federal Reserve will get another readout on the strength of the labour market before its March meeting, OPEC+ members meet to discuss output quotas and Beijing decides on its economic goals for the next year. All of this unfolds against a fraught geopolitical backdrop, with the United States expanding its military presence in the Middle East. And don't forget about tariffs.
Ameren (AEE) said late Thursday it priced a $400 million public offering of 5% senior notes due 2036 at 99.802% of principal amount. The company expects the offering to close Wednesday and plans to use the net proceeds for general corporate purposes. MT Newswires does not provide investment advice.
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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