US equity indexes traded mixed on Thursday as a contrast in labor market data weighed on market expectations for next week's monetary policy easing, pushing government bond yields higher.
US equities ended mixed on Thursday as markets digested the latest labor market data, while keeping bets for a Federal Reserve interest rate cut largely intact. The Nasdaq Composite rose 0.2% to 23,505.1, while the S&P 500 edged up 0.1% to 6,857.1 -- both advancing for a third consecutive day. Among sectors, health care and consumer staples saw the biggest drop, while industrials led the gainers.
US equity indexes were mixed Thursday as investors weighed jobs data amid a rise in most government bond yields. * Initial jobless claims last week dropped to 191,000 for the week, the lowest since September 2022, down from a revised 218,000 the previous week and below 220,000 expected in a Bloomberg survey.
Royal Bank of Canada (RY) shares were up about 2.7% in recent Thursday trading after TD Cowen upgraded the stock to buy from hold. Trading volume stood at more than 753,000 shares, compared with a daily average of nearly 1.1 million. Price: 160.98, Change: +4.30, Percent Change: +2.74. MT Newswires does not provide investment advice.
Gold edged higher midafternoon on Thursday as treasury yields rose ahead of key U.S. inflation data coming Friday and next week's interest-rate decision from the Federal Reserve. Gold for February delivery was last seen up US$8.80 to US$4,241.30 per ounce.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund up 0.3%. The Philadelphia Housing Index was declining 0.9%, and the Real Estate Select Sector SPDR Fund was increasing 0.1%. Bitcoin was shedding 1.1% to $92,088, and the yield for 10-year US Treasuries was rising 4.6 basis points to 4.10%. In econom...
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund up 0.2%. The Philadelphia Housing Index was declining 0.9%, and the Real Estate Select Sector SPDR Fund was increasing 0.1%. Bitcoin was shedding 1.2% to $92,323, and the yield for 10-year US Treasuries was rising 4 basis points to 4.10%. In corporat...
The US housing market is expected to benefit from improved affordability in 2026 amid pent-up demand, Zillow (ZG) said Thursday. The online real estate marketplace is looking at a 4.3% increase in existing home sales in 2026 to 4.26 million units from this year's projected total. Pent-up housing demand is expected following years of limited inventory and elevated mortgage rates, according to Zillow.
German Bunds followed the global trend lower on Thursday, even after retail-sales figures suggested a soft start to household spending in Q4, said Daiwa Capital Markets. Friday will bring an updated estimate of eurozone gross domestic product growth in Q3.
US stock indexes were mixed in late-morning trading Thursday, as a run of recently released jobs data has raised investors' confidence that the Federal Reserve will cut interest rates at its December meeting.
The European stock markets closed higher in Thursday trading as the Stoxx Europe rose 0.51%, Germany's DAX gained 0.85%, the FTSE 100 increased 0.19%, France's CAC advanced 0.43%, and the Swiss Market Index was up 0.27%. The HCOB Eurozone Construction PMI Total Activity Index, which tracks monthly changes in industry activity, rose to 45.4 in November, from 44.0 in October.
Nomura said it believes the rate-cutting cycle at the Reserve Bank of New Zealand has most likely ended. The reasons for this forecast are that, one, the economy is now commencing what appears to be an enduring recovery, and, second, monetary policy is now in accommodative territory, while as third, inflation is still at the top of the RBNZ's target band and forecast to decline only slowly.
Gold traded lower early on Thursday as treasury yields rose ahead of key U.S. inflation data coming Friday and next week's interest-rate decision from the Federal Reserve. Gold for February delivery was last seen down US$9.00 to US$4,223.50 per ounce.
US initial jobless claims fell to a level of 191,000 in the week ended Nov. 29 from an upwardly revised 218,000 level in the previous week, compared with expectations for an increase to 220,000 in survey of analysts compiled by Bloomberg as of 7:35 am ET. The level of initial claims was the lowest since the week ended Sept. 24, 2022, when it was 189,000.
TD Securities raised its price target on National Bank of Canada (NTIOF) to $181 from $161 on Thursday. Analyst Mario Mendonca maintained a Hold rating on shares of the Canadian bank following its Q4 results. "NA beat our estimate on strong trading revenue," Mendonca said in a note to clients.
Royal Bank of Canada (RY) was upgraded to Buy from Hold at TD Securities on Thursday. Analyst Mario Mendonca raised his price target on shares of the Canadian bank to $246 from $215 following its Q4 results on Wednesday. "Overall, a strong quarter for RY," Mendonca said in a note to clients.
The US dollar fell against its major trading partners early Thursday, except for a gain versus the Canadian dollar, ahead of the release of weekly jobless claims at 8:30 am ET, delayed factory orders data for September at 10:00 am ET, and weekly natural gas stock inventory data at 10:30 am ET.
US equity markets mostly edged higher before the opening bell Thursday amid growing expectations for a Federal Reserve interest rate cut next week following recent labor and economic data.
Royal Bank of Canada (RY) has an average rating of overweight and mean price target of CA$226.92, according to analysts polled by FactSet. MT Newswires does not provide investment advice.
Societe Generale in its early Thursday economic news summary pointed out: -- US dollar selling subsides after weak ADP on Wednesday, Australian dollar pushes on above 0.66 after 1.3% month-over-month gain in October household spending tips scales towards Reserve Bank of Australia hike in H1 2026.
Asian stock markets were uneven on Thursday, as traders weighed tech outlooks and an soft US jobs report issued overnight, that might incline the US Federal Reserve to ease at the central bank's policy session next week. Hong Kong and Tokyo finished in the green, while Shanghai and other regional exchanges were mixed and muted.
Bank of America India has received approval from the country's central bank for the appointment of Vikram Sahu as its chief executive, Reuters reported Wednesday, citing an internal memo it has seen. Bank of America India named Sahu as CEO in March, though a formal Reserve Bank of India approval was pending, according to the report. The company declined to comment.
First Majestic Silver (AG) said late Wednesday it priced a $300 million offering of unsecured convertible senior notes due 2031 at par. The Canadian company intends to issue notes worth $350 million, if an overallotment option is fully exercised. First Majestic said it plans to use the net proceeds to repurchase part of its 0.375% convertible senior notes due 2027, among other things.
Shift4 Payments (FOUR) said late Wednesday it has priced a private offering of 435 million euros principal amount of 5.5% senior notes due 2033 at an issue price of 102.5%. The notes will be issued in addition to an existing 680 million euros principal amount of 5.5% senior notes due 2033 issued in May. Net proceeds will be used for general corporate purposes, the company said.
US equity benchmarks rose on Wednesday, with the Dow Jones Industrial Average notching its highest closing level in three weeks as fresh economic data bolstered expectations for a Federal Reserve interest rate cut next week. The Dow climbed 0.9% to 47,882.9, its strongest finish since Nov. 12.
Essex Property Trust (ESS) said Wednesday its operating partnership Essex Portfolio has priced an underwritten public offering of $350 million of 4.875% senior notes due 2036. The notes were priced at 99.093% of par value with a yield to maturity of 4.988%, the company said, adding the offering is expected to close on Dec. 12.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. We increase our 12-month target price by CAD31 to CAD215, 17.8x our FY 26 EPS view, a premium to its five-year forward P/E of 10.6x given expected efficiency gains and improving revenue diversity. MT Newswires does not provide investment advice.
Financial stocks gained in late Wednesday afternoon trading with the NYSE Financial Index rising 0.7% and the Financial Select Sector SPDR Fund adding 1.4%. The Philadelphia Housing Index climbed 2.2%, and the Real Estate Select Sector SPDR Fund eased 0.2%. Bitcoin rose 1.8% to $92,958, and the yield for 10-year US Treasuries decreased 3.3 basis points to 4.062%. In economic news, the Institute...
Gold traded higher midafternoon on Wednesday as the dollar and treasury yields fell after a report showed an unexpected drop in U.S. private-sector jobs last month, firming expectations the Federal Reserve will cut interest rates next week. Gold for February delivery was last seen up US$16.80 to US$4,237.60 per ounce.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund ahead 1.2%. The Philadelphia Housing Index was climbing 2.2%, and the Real Estate Select Sector SPDR Fund was easing 0.2%. Bitcoin was increasing 1.9% to $93,102, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.07%. In eco...
The US services sector remained in growth territory last month, two surveys showed Wednesday, though there were some signs of demand pressure. The Institute for Supply Management's purchasing managers' index ticked higher at 52.6 last month, the highest reading since February, from 52.4 in October.
Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.7% and the Financial Select Sector SPDR Fund ahead 1.2%. The Philadelphia Housing Index was climbing 2.3%, and the Real Estate Select Sector SPDR Fund was easing 0.1%. Bitcoin was increasing 1.2% to $93,012, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.07%. In cor...
US equity indexes rose in midday trading on Wednesday as a surprise drop in private sector jobs sent government bond yields lower, which helped raise the odds of an interest rate cut next week.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. We increase our 12-month target price by CAD30 to CAD280, 18.3x our FY 26 EPS view of CAD15.25, a wider risk premium than the peer average of 12.7x given its scale and superior earnings profile. MT Newswires does not provide investment advice.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. We increase our 12-month target price by USD20 to USD200, 18.3x our FY 26 EPS view of CAD15.25, a wider risk premium than the peer average of 12.7x given its scale and superior earnings profile. MT Newswires does not provide investment advice.
India's real gross domestic product growth accelerated sharply to 8.2% year over year in Q3, up from 7.8% in 2Q, even as nominal GDP growth eased slightly to 8.7% year over year versus 8.8, said Societe Generale.
The European stock markets closed little changed in Wednesday trading as the Stoxx Europe was up 0.08%, Germany's DAX edged 0.1% lower, the FTSE 100 shed 0.1%, France's CAC increased 0.16%, and the Swiss Market Index was off 0.25%. The eurozone's private sector economy expanded for the sixth straight month in November, according to the HCOB Eurozone Composite PMI Output Index, which increased t...
Employment in the US private sector surprisingly fell in November, ADP reported Wednesday, solidifying expectations that the Federal Reserve will cut interest rates again next week. Private jobs decreased by 32,000 last month, according to the payroll processing firm. The decline follows an increase in October that was revised to 47,000 from 42,000, the latest ADP report showed.
The Institute for Supply Management's US services index rose to a reading of 52.6 in November from 52.4 in October, compared with expectations for a decrease to a reading of 52.0 in a survey compiled by Bloomberg as of 7:30 am ET.
Gold traded higher early on Wednesday as the dollar and treasury yields fell after a report showed an unexpected drop in U.S. private-sector jobs last month, firming expectations the Federal Reserve will cut interest rates next week. Gold for February delivery was last seen up US$34.60 to US$4,255.40 per ounce.
China's PMIs for November, published over the past couple of days, confirm a further weakening in growth momentum, on balance, said ABN Amro. To start with the manufacturing side, the official index published by NBS on Sunday rose modestly to 49.2, from October's 49.0, but a bit less than expected, with consensus at 49.4, wrote the bank in a note.
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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