Financial stocks were mixed in late Thursday afternoon trading with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF easing 0.2%. The Philadelphia Housing Index added 1.1%, and the State Street Real Estate Select Sector SPDR ETF rose 0.2%. Bitcoin fell 3% to $59,162, and the yield for 10-year US Treasuries decreased 1 basis point to 4.392%. In corporate...
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of The Group Insurance Trust of the California Society of Certified Public Accountants.
* May PCE prices rise 4.1% from a year earlier, matching economists' expectations. * July Fed hike odds fall to roughly 30% from 34.2%, CME FedWatch showed. * Weekly initial jobless claims fall by 12,000, to 215,000. By Chuck Mikolajczak.
The third estimate of Q1 GDP showed a 2.1% gain after a 0.5% increase in the previous quarter, an upward revision from a 1.6% gain in the previous estimate. PCE growth was revised down to a 0.5% gain from a 1.4% increase in the previous estimate, but there were upward adjustments to every other component except residential fixed investment.
The Bank of Canada's consultation on its monetary policy framework review found broad support for its 2% inflation target, but participants complained about the disconnect between official inflation data and actual price of goods, the bank said in a report on Thursday.
Chicago Federal Reserve President Austan Goolsbee on Thursday said there was a "glimmer of hope" on services inflation in the latest U.S. inflation report, but underlying inflation pressures are still too high and trending the wrong way.
(Corrects headline and rewrites paragraph 2 and paragraph 5 to reflect NY Fed official was referencing the FOMC's implementation note, not its policy statement. By Michael S. Derby.
The agreement launches a six-month process in which the consortium will evaluate opportunities to design, build, operate, finance and maintain one or more segments of the program.
LONDON, June 25, 2026 ?Global law firm?Greenberg Traurig, LLP advised Premier Energy PLC, a vertically integrated energy company in Southeastern Europe, on its ?825 million bridge-to-bond acquisition financing for Evryo Group, including Distributie Energie Oltenia, from Macquarie Asset Management.
Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF decreasing 0.2%. The Philadelphia Housing Index was climbing 1.4%, and the State Street Real Estate Select Sector SPDR ETF was down 0.2%. Bitcoin was up 0.3% to $59,628, and the yield for 10-year US Treasuries was decreasing 2 basis points to...
FCAC: * FCAC: APPLIED AN ADMINISTRATIVE MONETARY PENALTY OF $4.25 MILLION ON ROYAL BANK OF CANADA FOR A VIOLATION OF CONSUMER PROVISIONS IN BANK ACT. * FCAC: TOTAL OF 227,947 ACCOUNTS WERE IMPACTED FINANCIALLY, AND RBC TRANSFERRED AND REFUNDED MORE THAN $22.4 MILLION Source text: Further company coverage:
Demand for US durable goods decreased less than estimated in May despite a plunge in civilian aircraft orders, according to latest official data, which BMO Capital Markets said suggest overall business equipment spending remains intact.
Ghana has struck a deal with its large-scale mining companies to purchase 30% of their gold output beginning July 1, the government said on Thursday, as it seeks to boost foreign currency reserves and develop local refining capacity. * Central banks are increasingly stockpiling bullion as high prices bolster its appeal as a reserve asset.
Space Exploration Technologies (SPCX) credit-default swaps have started actively trading after the company priced its inaugural offering of $25 billion of senior notes, Bloomberg reported Thursday, citing people familiar with the matter.
The US economy expanded at a faster rate in the first quarter than previously projected even as consumer spending growth decelerated, the Bureau of Economic Analysis' third and final estimate showed Thursday. Real gross domestic product increased at a 2.1% annualized rate in the quarter ended March, up from 1.6% growth reported in the second estimate.
* Indexes: Dow up 0.82%, S&P 500 up 0.26%, Nasdaq down 0.31% * Memory chips surge as Micron results signal robust demand. * Qualcomm (QCOM) rises on lifting long-term datacentre revenue targets. * Final Q1 GDP data comes in at 2.1%, higher than prior estimates. By Twesha Dikshit and Joel Jose.
AM Best has assigned a Financial Strength Rating of B++ and a Long-Term Issuer Credit Rating of ?bbb? to Ilaf Takaful Insurance Company K.S.C.. The outlook assigned to these Credit Ratings is stable.
Freddie Mac today released the results of its Primary Mortgage Market Survey?, showing the 30-year fixed-rate mortgage averaged 6.49%. ?The average 30-year fixed mortgage rate was little changed this week at 6.49%? said Sam Khater, Freddie Mac?s Chief Economist.
The Bank of Canada is expected to keep its overnight rate unchanged at 2.25% through this year, with rate hikes likely postponed until 2027 as economic growth gradually regains momentum, Deloitte Canada said on Thursday.
AM Best has upgraded the Long-Term Issuer Credit Rating to ?ccc+? from ?ccc? and affirmed the Financial Strength Rating of C of Cooperativa de Seguros de Vida de Puerto Rico. The Credit Ratings reflect COSVI?s balance sheet strength, which AM Best assesses as very weak, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The U.S. economy has seen solid growth momentum and inflation was expected to reach the Federal Reserve's 2% target by the end of 2027, the International Monetary Fund said on Thursday.
* Personal Consumption Expenditures price index increases 4.1% year-on-year in May. * Core PCE inflation advances 3.4% year-on-year; up 0.3% on a monthly basis. * Financial markets expect the Federal Reserve to hike interest rates in September. * Consumer spending powers ahead in May; business spending on equipment rebounds sharply. By Lucia Mutikani.
Lebanon's gross domestic product is expected to contract in 2026, given the "very challenging" economic, social and humanitarian situation caused by the resumption of the war, the International Monetary Fund said on Thursday.
The Kansas City Fed monthly manufacturing index rose to a reading of 11 in June from 8 in May, compared with expectations for a decrease to a 6 print in a survey compiled by Bloomberg as of 7:30 am ET.
AM Best has affirmed the Financial Strength Rating of A++ and the Long-Term Issuer Credit Ratings of ?aaa? of United Services Automobile Association and its property/casualty and life/health subsidiaries.
Banks announced increased dividends and some announced new share buy-back programs on Wednesday, after the Federal Reserve released results of its stress test. -- Citigroup (C) will increase its quarterly dividend 12% to 67 cents and keep its multi-year $30 billion common stock repurchase program. -- Goldman Sachs' (GS) common dividend will rise 11%, to $5.00 per share from $4.50, beginning next month.
Banks announced increased dividends and some announced new share buy-back programs on Wednesday, after the Federal Reserve released results of its stress test. * Citigroup (C) will increase its quarterly dividend 12% to 67 cents and keep its multi-year $30 billion common stock repurchase program. * Goldman Sachs' (GS) common dividend will rise 11%, to $5.00 per share from $4.50, beginning next month.
* Monthly PCE inflation rose 0.4% in May, below economists' 0.5% forecast. * Five-year breakeven rates fell to around 2.20%, their lowest level this year. * US Treasury will sell $44 billion in 7-year notes on Thursday. By Karen Brettell.
* May PCE prices rose 4.1% from a year earlier, matching economists' expectations. * July Fed hike odds fell to roughly 30% from 34.2%, CME FedWatch showed. * Weekly initial jobless claims fell 12,000 to 215,000. By Chuck Mikolajczak.
All 32 large banks subject to the Federal Reserve's annual stress test have sufficient capital to absorb losses totaling nearly $708 billion and continue lending to businesses and households under hypothetical stressful conditions, the Fed said Wednesday.
* Indexes: Dow up 0.40%, S&P 500 down 0.38%, Nasdaq down 1.20% * Memory chips surge as Micron results signal robust demand. * Qualcomm (QCOM) rises on lifting long-term datacentre revenue targets. * Final Q1 GDP data comes in at 2.1%, higher than prior estimates. By Twesha Dikshit and Joel Jose.
The U.S. economy grew faster than previously estimated in the first quarter, but consumer spending almost stalled. Gross domestic product increased at an upwardly revised 2.1% annualized rate last quarter, the Commerce Department's Bureau of Economic Analysis said in its third estimate of first-quarter GDP on Thursday. The economy grew at a 0.5% pace in the October-December quarter.
Wall Street's main indexes advanced on Thursday as strong forecasts from Micron and Qualcomm renewed AI optimism, while upbeat economic data aided sentiment. The Dow Jones Industrial Average rose 160.1 points, or 0.31%, to 52009.02. The S&P 500 rose 46.7 points, or 0.63%, to 7404.91?, while the Nasdaq Composite rose 248.1 points, or 0.97%, to 25724.779.
The U.S. economy grew faster than previously estimated in the first quarter, but consumer spending almost stalled. Gross domestic product increased at an upwardly revised 2.1% annualized rate last quarter, the Commerce Department's Bureau of Economic Analysis said in its third estimate of first-quarter GDP on Thursday. The economy grew at a 0.5% pace in the October-December quarter.
Starwood Property Trust (STWD) said Thursday that it is offering $500 million of unsecured senior notes due 2029 in a private offering. The company said it will allocate an amount equal to the net proceeds from the offering to finance or refinance green and/or social projects.
* Futures up: Dow 0.33%, S&P 500 0.84%, Nasdaq 2.38% * Memory chips surge as Micron results signal robust demand. * Qualcomm (QCOM) soars on lifting long-term datacentre revenue targets. * Final Q1 GDP data comes in at 2.1%, higher than prior estimates. By Twesha Dikshit and Joel Jose.
MIAMI BEACH, Fla. The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects.
Repurchases $295 million in principal amount of 5% Senior Notes due 2030 Captures significant discount on principal and maintains strong cash position ZipRecruiter?, a leading online employment marketplace, today announced it has entered into separate, privately negotiated repurchase agreements with certain holders of its 5% senior unsecured notes due 2030 to repurchase approximately $295 milli...
US economic growth, measured by gross domestic product, rose by 2.1% in Q1, revised up sharply from a 1.6% gain in the second estimate, above expectations for no revision in a survey compiled by Bloomberg as of 7:30 am ET. GDP rose by 0.5% in Q4. Personal consumer expenditures rose by 0.5% after a 1.9% gain in Q4, a large downward revision from a 1.4% increase in the second estimate.
The number of Americans filing claims for unemployment benefits fell more than expected last week, consistent with labor market resilience. Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 215,000 for the week ended June 20, the Labor Department said on Thursday.
The number of Americans filing claims for unemployment benefits fell more than expected last week, consistent with labor market resilience. The data included last Friday's Juneteenth public holiday, which could have contributed to part of the larger-than-expected decline.
The Federal Reserve won't raise interest rates next month even after a government report showed inflation based on the U.S. central bank's targeted measure was the highest it has been in three years, traders bet on Thursday, though they continue to see a rate hike in September as very much in play.
U.S. inflation increased further in May, breaking above 4.0% for the first time in three years as the Middle East conflict boosted energy prices, and keeping an interest rate increase from the Federal Reserve this year on the table.
US initial jobless claims fell to a level of 215,000 in the week ended June 20 from a upwardly revised 227,000 level in the previous week, compared with expectations for a smaller decrease to 225,000 in survey of analysts compiled by Bloomberg. The four-week moving average increased by 750 to 224,250 after increasing by 4,250 to a level of 223,500 in the previous week.
* The Fed last week left its benchmark rate unchanged. * Quarterly projections showed policymakers expected to raise borrowing costs this year. U.S. inflation increased further in May, breaking above 4.0% for the first time in three years as the Middle East conflict boosted energy prices, and potentially drawing the Federal Reserve closer to raising interest rates this year.
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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