US equity indexes were mixed while government bond yields rose in midday trading on Monday amid the US- and Israel-led war on Iran. The Nasdaq Composite rose 0.3% to 22,739.1, while the Dow Jones Industrial Average declined 0.2% to 48,891.65. The S&P 500 slipped less than 0.1% to 6,880.1. Energy, technology, and industrials were the only gainers.
Bank of Canada Governor Tiff Macklem is back again for another fireside chat, this time at Toronto's Global Risk Institute on Wednesday, said Scotiabank. The governor has preached patience to date as complex supply and demand forces upon the inflation outlook are assessed, noted the bank.
Canadian real gross domestic product contracted by 0.6% quarter-over-quarter in Q4 on an annualized basis versus the consensus for 0.2% decline, said UBS. Friday's GDP report was held down by an inventory drawdown as consumption improved, wrote the bank in a note to clients.
The Institute for Supply Management's US manufacturing index declined to 52.4 in February from 52.6 in January, compared with expectations for a 51.5 reading in a survey compiled by Bloomberg. There were declines in the readings for new orders and production, but increase in employment, inventories, supplier deliveries, order backlogs and prices.
There was both good and bad in Friday's Canadian gross domestic product data, said Rosenberg Research, adding that at the margin, however, still more of the latter and less of the former. The economy contracted at a 0.6% annual rate in Q4, slightly worse than the 0.2% consensus decline forecast, noted Rosenberg Research.
The seasonally adjusted S&P Global Canada Manufacturing Purchasing Managers' Index, a composite index designed to provide an overview of the health of the manufacturing sector, registered 51.0 in February, up from 50.4 in January and slightly above the crucial 50.0 no-change threshold, said S&P Global on Monday.
The US dollar rose sharply against its major trading partners early Monday ahead of another busy week of data releases that lead up to February nonfarm payrolls employment data to be released Friday, with military action in Iran over the weekend a key factor in the dollar's jump.
Data flow was mixed this week in Canada, said TD. Given the importance of business investment in forecasts for Canadian economic growth, the bank was "eagerly" anticipating last week's release of the survey of capital spending for 2026. Investment intentions for 2026 in the survey flagged another outperformance by the public sector.
US equity investors will mainly focus on the US- and Israel-led war on Iran and its impact across asset classes and sectors, as well as nonfarm payrolls this week. * Kuwait's Ministry of Defense said "several" US military aircraft crashed Monday and that "all crews survived," CNN reported. * West Texas Intermediate crude oil futures jumped 7.7% to $72.11 a barrel early Monday.
Bitcoin's future hinges less on technological factors and more on how AI affects growth, employment, real interest rates, and central bank liquidity, NYDIG Research argues.
US equity indexes fell on Friday as a layoff announcement at Block prompted fears of wider job displacement in favor of AI, sending Treasury yields to fresh lows on the year.
The Nasdaq Composite and the S&P 500 suffered back-to-back declines on Friday following a hot producer prices report, while both benchmarks logged their steepest monthly declines in almost a year.
US equity indexes fell this week as the producer price index turned hot and Nvidia's (NVDA) blowout beat-and-raise failed to stem the so-called AI-scare trade. * The S&P 500 closed at 6,878.88 on Friday versus 6,909.51 a week ago.
Royal Caribbean Group completed a registered public offering of $1.25 billions of 4.75% senior unsecured notes due 2033 and $1.25 billion of 5.25% senior unsecured notes due 2038. The notes will mature on May 15, 2033, and Feb. 27, 2038, unless earlier redeemed or repurchased, the company said Friday in a statement.
US equity indexes were down Friday following a higher-than-expected producer price report and continued pressure on technology stocks. * The Bureau of Labor Statistics said Friday the US Producer Price Index rose by 0.5% in January following a 0.4% increase in December, and higher than the 0.3% gain expected in a Bloomberg survey.
Financial stocks declined in Friday trading with the NYSE Financial Index falling 2% and the State Street Financial Select Sector SPDR ETF dropping 2.1%. The Philadelphia Housing Index rose 0.6%, and the State Street Real Estate Select Sector SPDR ETF gained 0.5%. Bitcoin fell 2.8% to $65,649, and the yield for 10-year US Treasuries dropped 5.5 basis points to 3.96%. In economic news, the US pr...
Financial stocks declined in late Friday afternoon trading, with the NYSE Financial Index dropping 2% and the State Street Financial Select Sector SPDR ETF falling 2.1%. The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF was up 0.3%. Bitcoin was falling 2.8% to $65,649, and the yield for 10-year US Treasuries was dropping 5.5 basis points t...
California and nine states' financial officers urged President Trump to honor the Supreme Court's ruling striking down his tariffs, citing harm to state budgets and the need for economic predictability.
Financial stocks declined in Friday afternoon trading, with the NYSE Financial Index dropping 2.1% and the State Street Financial Select Sector SPDR ETF falling 2.5%. The Philadelphia Housing Index was climbing 1%, and the State Street Real Estate Select Sector SPDR ETF was up 0.6%. Bitcoin was falling 2.6% to $65,473, and the yield for 10-year US Treasuries was dropping to around 3.97%. In eco...
Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index dropping 2.1% and the State Street Financial Select Sector SPDR ETF falling 2.5%. The Philadelphia Housing Index was climbing 1%, and the State Street Real Estate Select Sector SPDR ETF was up 0.9%. Bitcoin was falling 2.8% to $65,598, and the yield for 10-year US Treasuries was dropping 3.7 basis points...
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.
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.
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.
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.
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.
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.
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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