The inflation effect was expected in March and is going to carry through to April with the CPI showing goods prices rising a cumulative 1.8% through these two months, noted TD Economics following the release of the latest Canadian retail sales data. "The sinking volumes figures suggest consumers are already cutting back, as higher energy prices eat into budgets," the bank said.
Gold prices eased early Friday, remaining rangebound as the dollar and yields steady. Gold for June delivery was last seen down $15.10 to US$4,527.40 per ounce. The price of the metal has traded within a tight US$200 range for the past month, sticking above US$4,500 despite fears of rising interest rates as inflation surges with the war on Iran hiking energy costs.
US equity futures were higher pre-bell Friday as traders mulled easing bond yields and monitored developments in the Middle East peace negotiations. Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.4% higher. Treasury yields declined after a spike earlier in the week.
Mexican consumer prices fell 0.16% in the first half of May, national statistics agency INEGI said on Friday, broadly in line with expectations of a 0.15% drop in a Reuters poll of economists. * Annual inflation 4.11%, after 4.53% last month, vs economists' expectations of 4.13% * Analysts had said seasonal electricity subsidies in some states would drive prices down.
Kevin Warsh has been a sharp critic of the Federal Reserve for the last 15 years, ever since leaving his job there as a governor in 2011. INFLATION IS A 'CHOICE' "Congress tasked the Fed with the mission to ensure price stability, without excuse or equivocation, argument or anguish," Warsh said in his written testimony for his confirmation hearing last month.
* Warsh lays inflation overshoot at Fed's feet, rejects supply chain explanations. * He opposes forward guidance, favors less communication on policy intentions. * Warsh urges balance sheet reduction, questions reliance on precise economic data. Kevin Warsh has been a sharp critic of the Federal Reserve for the last 15 years, ever since leaving his job there as a governor in 2011.
The US dollar rose against its major trading partners early Friday ahead of the release of the final University of Michigan consumer sentiment reading for May, state-level unemployment data for April, and leading indicators data for April, all at 10:00 am ET.
US equity futures were marginally higher pre-bell Friday as traders observed bond yields easing and continued to monitor developments in the Middle East peace negotiations. Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher. Treasury yields declined after a spike earlier in the week.
UK's blue-chip FTSE 100 index was on course to end a four-week losing streak after data released this week weakened expectations of a Bank of England rate hike, giving relief to investors unsettled by political uncertainty.
* UBS Global Wealth Management lifts S&P 500 2026 target to 7,900 from 7,500 pts. * Est?e Lauder jumps after ending merger talks with Puig. * Kevin Warsh to be sworn in as Federal Reserve chair later in the day. * Futures up: Dow 0.2%, S&P 500 0.1%, Nasdaq 0.1% By Shashwat Chauhan.
BJ?s Wholesale Club today announced that Fitch Ratings has assigned a first-time Long Term Issuer Default Rating of ?BBB? to the company. "Fitch?s investment-grade ratings reflect BJ?s continued growth and commitment to financial discipline,? said Laura Felice, Chief Financial Officer, BJ?s Wholesale Club.
Kevin Warsh, whose broad criticism of current U.S. Federal Reserve officials, playbook for rate cuts and ties to President Donald Trump elevated him past other contenders to lead the central bank, will be sworn in as Fed leader Friday at a pivotal moment for monetary?policy and the American economy.
* Warsh set for Friday morning swearing in at White House. * AI boom and external shocks complicate inflation outlook for Fed. * Warsh facing pressure from markets, colleagues, over rate decisions. * Fed's Waller, a key voice, updates views today. By Howard Schneider.
* PCE inflation gauge due on Thursday. * Salesforce (CRM), Costco, Best Buy (BBY) among reports due as robust Q1 comes to end. * Bond market selloff in view as Treasury yields hit milestones. By Lewis Krauskopf.
Societe Generale in its early Friday economic news summary pointed out: -- Risk tone positive, Brent closed below 50dma on Thursday. -- Japan headline consumer price index slows to 1.4% year over year in April. -- Day ahead: Federal Reserve speaker Waller. -- Nikkei +2.7%, EUR 10-year IRS -2.5bps at 3.10%, Brent crude +2.3% at US$104.9/barrel, Gold +0.15% at US$4,525/oz.
Fiscal support measures by euro zone governments that ease the pain of high energy prices should not contradict the European Central Bank's efforts to curb surging infltion8, the chairman of euro zone finance ministers Kyriakos Pierrakakis said. "We certainly all understand that we shouldn't contradict monetary policy.
* Futures up: Dow 0.3%, S&P 500 0.31%, Nasdaq 0.5% U.S. stock index futures climbed on Friday as Treasury yields eased, lifting megacaps and chip stocks, though markets watched for signs of a breakthrough in discussions to end the Middle East war. Iran's foreign minister met the interior minister of Pakistan to discuss proposals to end the nearly three-month-old conflict, media reports said.
* Dollar holds near six-week high on U.S.-Iran uncertainty. * Traders see 41% chance of a 25-bp U.S. rate hike in December. * Trump to swear in Warsh as Fed chair on Friday. * All metals on track for weekly losses. By Noel John.
World markets remain at the mercy of diplomacy as the Iran war approaches the end of its third month with no clear resolution in sight. A host of central banks meanwhile brace for their next moves and inflation data piles the pressure on U.S. and Japan policymakers.
World markets remain at the mercy of diplomacy as the Iran war approaches the end of its third month with no clear resolution in sight. A host of central banks meanwhile brace for their next moves and inflation data piles the pressure on U.S. and Japan policymakers.
* APEC ministers responsible for trade to discuss supply chain resilience, digital trade, AI readiness. * China's record trade surplus and G7 calls for action on imbalances add to tension. * APEC Business Advisory Council urges pause on new trade curbs. * Japan's trade minister attends, marking highest-level visit since last year's diplomatic rift. By Nicoco Chan and Casey Hall.
Europe's push to curb its dependence on U.S. payments giants Visa and Mastercard (MA) has driven a wedge between the European Central Bank and financial firms keen to shield revenues, hobbling efforts to build a home-grown system, several people involved said.
Britain's FTSE 100 index is seen opening higher on Friday, with futures up 0.42%. * BT: Indian conglomerate Bharti Enterprises is seeking to potentially increase its stake in BT to just under the threshold that would require it to make a full takeover offer for the British telecoms group, three people familiar with the matter said.
Japanese government bonds were mixed on Friday, with optimism about a near-term end to the Iran war pulling longer-dated yields lower, while speculation for earlier Bank of Japan tightening lifted shorter-dated yields. Yields globally have been rising with the price of oil as the war stoked worries about inflation.
* US, Iran at odds on key issues. * Trump to swear in Warsh as Fed chair. * Silver heads for weekly gain. * Platinum, palladium face weekly losses. By Pablo Sinha. Gold edged lower on Friday, pressured by a stronger U.S. dollar and as elevated oil prices have raised expectations for interest rate hikes by the U.S. Federal Reserve. Spot gold was down 0.3% at $4,527.60 per ounce, as of 0411 GMT.
Nomura has joined a growing chorus of brokerages expecting the U.S. Federal Reserve to hold interest rates steady in 2026, citing persistent inflation and skepticism that policymakers will rally behind rate cuts.
Gold edged lower on Friday, on track for its second consecutive weekly loss, as higher oil prices and rising concerns around inflation and hawkish interest rates weighed on the metal.
* April core CPI rises 1.4% yr/yr vs forecast +1.7% * Index excluding fresh food, fuel rises 1.9% yr/yr. * Inflation seen re-accelerating on war-induced energy shock. By Leika Kihara.
Esentia Energy Development SA de CV : * ESENTIA ENERGY DEVELOPMENT SA DE CV - COMPLETES US$2 BILLION SENIOR UNSECURED NOTES OFFERING Source text: Further company coverage:
MEXICO CITY, May 21, 2026 ?ESENTIA Energy Development, S.A.B. de C.V.? today announced the successful settlement of US$2 billion senior unsecured 144A/Reg S notes offering. This transaction represents a pivotal milestone in ESENTIA's corporate evolution. "This is a defining moment for ESENTIA.
* April core CPI rises 1.4% yr/yr vs forecast +1.7% * Index excluding fresh food, fuel rises 1.9% yr/yr. * Inflation seen re-accelerating on war-induced energy shock. By Leika Kihara. Japan's core consumer prices rose 1.4% in April from a year earlier, data showed on Friday, marking the slowest annual pace in four years due largely to the effect of government subsidies on school tuition.
U.S. President Donald Trump will swear in Kevin Warsh as the chair of the Federal Reserve on Friday at the White House, the Trump administration said on Thursday. Warsh was confirmed to the role in a near party-line vote on May 13. Warsh, 56, will serve a four-year term as chair and a 14-year term as a Fed governor.
U.S. President Donald Trump will swear in Kevin Warsh as the chair of the Federal Reserve on Friday at the White House, the Trump administration said on Thursday. Warsh, 56, will serve a four-year term as chair and a 14 year term as a Fed governor.
KBRA assigns a long-term AA- rating to Miami-Dade County, Florida, Aviation Revenue Refunding Bonds, Series 2026A and Aviation Revenue Refunding Bonds Series 2026B issued for Miami International Airport.
Brazil's central bank said on Thursday it will offer up to $1 billion in two simultaneous dollar auctions with repurchase agreements on Friday. In a statement, the central bank said the auctions will start at 10:30 a.m. local time, and aim to roll over contracts maturing in June. The repurchases for the auctions are set for September 2 and November 4, according to the monetary authority.
Plaza Luna Lofts Will Focus on Adults 55 and Older. The Federal Home Loan Bank of Dallas, First National Bank Texas, NewLife Homes Inc. and local leaders today celebrated the groundbreaking of Plaza Luna Lofts, a housing development in Los Lunas, New Mexico, that will create 57 affordable apartment homes for adults 55 years and older. This press release features multimedia.
The market has seen a trend of "happy endings to each week, disappointing Mondays," according to James Pruskowski, managing director at Hennion & Walsh.
"We're going to have some weak days, we're going to have some stronger days, maybe they wash out against each other," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.
Housing starts fell by 2.8% to a 1.465 million annual rate in April, with single-family housing starts lower but multi-family starts higher. Building permits rose by 5.8% to a 1.442 million rate in April, lifted by an increase in multi-family permits that more than offset a decline in single-family permits.
Weekly applications for unemployment insurance in the US decreased, while continuing claims moved higher, government data showed Thursday. For the week through May 16, the seasonally adjusted number of initial claims fell by 3,000 to 209,000, the Department of Labor said.
Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF up 0.2%. The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF was shedding 0.2%. Bitcoin was rising 0.6% to $77,915, and the yield for 10-year US Treasuries was steady around 4.572%. In ...
Financial stocks edged lower in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF each easing about 0.1%. The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF was shedding 0.2%. Bitcoin was rising 0.6% to $77,915, and the yield for 10-year US Treasuries was steady around 4.572%. In cor...
AM Best has affirmed the Financial Strength Rating of B++ and the Long-Term Issuer Credit Rating of ?bbb? of Nacional de Seguros S.A. Compa??a de Seguros Generales. The ratings reflect Nacional de Seguros? balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
KBRA assigns a long-term rating of AAA to the State of Maryland General Obligation Bonds, State and Local Facilities Loan of 2026, First Series Tax-Exempt Bonds and affirms the long-term rating of AAA for the State's outstanding General Obligation Bonds. Key Credit Considerations The rating actions reflect the following key credit considerations: Credit Positives. Credit Challenges.
Surging U.S. Treasury yields have prompted mortgage investors to hedge the loans in their portfolios by selling government debt, a shift?that probably exacerbated the bond selloff this week and added to the biggest rate spike in a year.
Broad Market Indicators. Broad-market exchange-traded fund IWM edged higher and IVV fell. US equity indexes fell, pressured by higher crude oil and Treasury yields, amid concern that Iran's nuclear ambitions could breach President Donald Trump's red lines. Energy. IShares US Energy ETF rose 0.1% and the State Street Energy Select Sector SPDR fell fractionally. Technology.
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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