Statistics Canada's preliminary estimate for May GDP is expected to show another monthly gain after an advance estimate pointed to 0.4% month-over-month growth in April, Scotiabank said in a note. "As for May's preliminary estimate, I'm tracking another gain based on more limited readings.
Canada's economy might have "rebounded modestly" in the monthly gross domestic product release for April due out on Tuesday as the week's key data point, BMO Capital Markets said in a note. "After successive quarterly declines, the economy likely rebounded slightly in Q2," Senior Economist Sal Guatieri said in the note.
US equity investors will focus this week on the performance of Big-Tech shares amid nonfarm payrolls, Federal Reserve Chair Kevin Warsh's speech, and crude oil prices.
The Toronto Stock Exchange rose on Friday as investors assessed easing geopolitical tensions in the Middle East and fresh economic data that reinforced expectations for a potential Bank of Canada interest-rate cut. The S&P/TSX Composite Index closed up 129.79 points, or 0.37%, to 34,980.00, with sectors closing mixed.
Financial stocks were slightly higher in late Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each adding 0.1%. The Philadelphia Housing Index was falling 0.3%, and the State Street Real Estate Select Sector SPDR ETF climbed 1.1%. Bitcoin was increasing 1% to $59,823, and the yield for 10-year US Treasuries was shedding 1.8 basis poi...
Financial stocks were slightly higher in late Friday afternoon trading, with the NYSE Financial Index increasing 0.1% and the State Street Financial Select Sector SPDR ETF adding 0.2%. The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF climbed 1.2%. Bitcoin was increasing 0.2% to $59,849, and the yield for 10-year US Treasuries was shedding ...
Canada's Consumer Price Index in May rose 0.95% in non-seasonally adjusted terms, following a 0.36% increase in April, and above consensus expectations of a 0.8% increase, National Bank's weekly economic monitor reports. In seasonally adjusted terms, prices edged up 0.48% in May after advancing 0.36% in April. April's GDP data will be released next Tuesday.
Financial stocks were higher in Friday afternoon trading, with the NYSE Financial Index increasing 0.2% and the State Street Financial Select Sector SPDR ETF adding 0.4%. The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF climbed 1%. Bitcoin was increasing 0.6% to $59,900, and the yield for 10-year US Treasuries was shedding 1.6 basis points to...
Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.3% and the State Street Financial Select Sector SPDR ETF adding 0.5%. The Philadelphia Housing Index was up 0.3%, and the State Street Real Estate Select Sector SPDR ETF climbed 1%. Bitcoin was increasing 0.8% to $60,083, and the yield for 10-year US Treasuries was shedding 1.7 basis points t...
US consumer sentiment increased in June amid moderating gasoline prices, while inflation expectations eased, a survey by the University of Michigan showed Friday. The main sentiment index jumped nearly 11% sequentially to 49.5 this month. The improvement in sentiment came as gas prices moderated, according to Surveys of Consumers Director Joanne Hsu.
The Federal Reserve is likely to maintain interest rates stable for the rest of the year, despite its recent hawkish monetary policy statement, as inflation looks set to ease, Morgan Stanley said Friday in a report.
The University of Michigan consumer sentiment index was revised upwards on Friday to a reading of 49.5 for June from 48.9 in the preliminary estimate, below expectations for a slightly larger revision to 50.0 in a survey compiled by Bloomberg as of 7:30 am ET.
Strong support for maintaining Canada's 2% inflation target and flexible inflation-targeting framework emerged as a key finding in the Bank of Canada's latest consultation report published on Thursday, ahead of its 2026 monetary policy framework renewal.
Federal Reserve Chairman Kevin Warsh has chosen longtime economists at the US central bank, Daniel Covitz and Eric Engstrom, to serve as advisers, The Wall Street Journal reported Friday, citing people familiar with the matter. Covitz is one of three deputy directors in the Fed's division of research and statistics, while Engstrom is a senior associate director in the division of monetary affairs.
Treasuries extended their rally after the New York close and throughout Asian trading as investors sought the safety of government bonds amid a renewed technology-led selloff, according to a note from Commerzbank. Oil prices have retreated even as tensions in the Middle East persist, reflecting a market that is more focused on the outlook for global demand than on potential supply disruptions.
Nuvation Bio (NUVB) has priced its underwritten offering of $250 million of 0.75% convertible senior notes due in 2032, the oncology treatment company announced late Thursday. Nuvation Bio (NUVB) has also extended to the underwriters an option, or greenshoe, to purchase an additional $37.5 million of the notes.
HIVE Digital Technologies (HIVE) priced an offering of $115 million worth of 0% exchangeable senior notes due 2031 in a private offering, the company said late Thursday. The offering was upsized from $100 million, the company said. The company also granted the initial purchasers a 13-day option to purchase up to an $15 million in additional notes, it said. The sale is expected to close on June 30.
Republican Representative Scott Fitzgerald introduced legislation on Thursday that would require Fannie Mae and Freddie Mac to buy homebuilder construction loans and package them into securities, in a bid to lower construction financing costs and boost housing supply, Bloomberg reported.
James Hardie Industries (JHIUF) said Thursday said its wholly-owned subsidiary redeemed $400 million in aggregate principal amount of 5.00% Senior Unsecured Notes due 2028 on June 25, at par plus accrued interest. Payment was made through Deutsche Bank Trust & Agency Operations, the company said. MT Newswires does not provide investment advice.
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 economic...
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...
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.
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...
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.
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.
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.
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.
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.
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.
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.
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 Bank of Canada's June Summary of Deliberations highlighted a key policy trade-off "dilemma" between responding to rising inflation and supporting economic growth, which Rosenberg Research said has been resolved. At the June 10 policy meeting, WTI oil was around US$90 per barrel, having already partially retraced the surge resulting from the Iran war, Rosenberg said in a note Thursday.
The US dollar rose against its major trading partners early Thursday ahead of a busy day of economic data releases, starting with weekly jobless claims, durable goods orders, personal income and spending and the Chicago Federal Reserve's national activity index, all for May, and the final estimate of Q1 GDP, all due for release at 8:30 am ET.
The Bank of Canada's governing council is waiting for clarity after first quarter gross domestic product, May employment and April inflation data showed little had changed since its April discussions, Desjardins Securities said in a note.
Barclays (BCS) said Thursday that the projected capital ratios for its US business remained above the regulatory minimum levels across all nine quarters of the Federal Reserve's stress test. The bank said that its projected common equity tier 1 capital ratio between Q1 of 2026 and 2028 is 9.4%, above the minimum regulatory requirement of 4.5%. MT Newswires does not provide investment advice.
The Federal Reserve Board's annual bank stress test showed that large banks are "well positioned" to endure a severe recession with strong ability to lend to households and businesses," the regulator said Wednesday.
Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index down 0.1% and the State Street Financial Select Sector SPDR ETF shedding 0.2%. The Philadelphia Housing Index was climbing 5.8%, and the State Street Real Estate Select Sector SPDR ETF was up 0.2%. Bitcoin was dropping 4.8% to $59,625, and the yield for 10-year US Treasuries fell 9.3 basis points...
Gold traded at a seven-month low midafternoon on Wednesday as the dollar continued to strengthen on expectations the Federal Reserve will raise interest rates this year to slow rising inflation. Gold for August delivery was last seen down 3.2% to US$4,032.90 per ounce, the lowest since early November.
Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.2% and the State Street Financial Select Sector SPDR ETF shedding 0.4%. The Philadelphia Housing Index was climbing 5%, and the State Street Real Estate Select Sector SPDR ETF was down 0.7%. Bitcoin was dropping 5.3% to $59,125, and the yield for 10-year US Treasuries was falling 8.9 basis poin...
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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