US annual consumer inflation is expected to reach 6% in the ongoing quarter and remain above 2% in the long term, a poll of economists by the Federal Reserve Bank of Philadelphia showed Friday. The headline consumer price index is expected to average 6% in the second quarter, according to the Fed branch's latest quarterly Survey of Professional Forecasters.
Financial stocks declined in late Friday afternoon trading with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF falling 0.3%. The Philadelphia Housing Index shed 3.1%, and the State Street Real Estate Select Sector SPDR ETF fell 1.5%. Bitcoin declined 2.5% to $79,082, and the yield for 10-year US Treasuries jumped 13.4 basis points to 4.595%. In econ...
RBC Capital Markets said Tuesday's April CPI report will be the highlight for next week, with the headline print likely to accelerate while broader price pressures should remain contained. In its CAD Weekly Soundbites report, RBC said it and consensus expect April CPI to rise 3.1% year-over-year, compared with 2.4% previously, as headline price pressures should escalate from higher energy costs.
Financial stocks declined in late Friday afternoon trading, with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF down 0.3%. The Philadelphia Housing Index shed 2.8%, and the State Street Real Estate Select Sector SPDR ETF fell 1.3%. Bitcoin was declining 2.5% to $79,082, and the yield for 10-year US Treasuries jumped 13.4 basis points to nearly 4.60%...
US benchmark equity indexes were lower intraday as Treasury yields jumped amid inflation concerns, while oil prices moved higher on the back of renewed Middle East worries. The Nasdaq Composite and the Dow Jones Industrial Average were down 0.8% each at 26,412.7 and 49,658.24, respectively, after midday Friday.
Gold traded lower midafternoon Friday as the dollar and yields climbed on concerns around inflation and concerns the rise in oil prices will force central banks to hike interest rates. Gold for June delivery was last seen down $119.40 to US$4,565.90 per ounce.
Financial stocks declined in Friday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF easing 0.2%. The Philadelphia Housing Index was down 3%, and the State Street Real Estate Select Sector SPDR ETF fell 1.4%. Bitcoin was declining 2.5% to $79,348, and the yield for 10-year US Treasuries jumped 12.8 basis points to 4.59%. In eco...
US equity indexes fell amid a surge in government bond yields and crude oil futures in midday trading on Friday as investors weighed the probability of the Strait of Hormuz reopening in the near term. The Nasdaq Composite fell 1.1% to 26,340.3, while the S&P 500 was down 0.9% to 7,433.7 and the Dow Jones Industrial Average was lower by 0.8% to 49,646.5. All sectors except energy fell.
Financial stocks were lower in Friday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF easing 0.1%. The Philadelphia Housing Index was falling 3%, and the State Street Real Estate Select Sector SPDR ETF dropped 1.4%. Bitcoin was declining 2.5% to $79,348, and the yield for 10-year US Treasuries jumped 12.8 basis points to 4.59%...
US industrial production rebounded more than projected in April, buoyed the manufacturing and utilities categories, Federal Reserve data showed Friday. Industrial output rose 0.7% last month following a revised 0.3% drop in March, the Fed said.
US equity indexes fell amid a surge in government bond yields and crude oil futures in midday trading as investors weighed the outcome of the China summit. The Nasdaq Composite fell 1.2% to 26,321.9, while the S&P 500 and Dow Jones Industrial Average both lost 0.9% to 7,432.4 and 49,598.9, respectively. All sectors except energy fell.
The Federal Reserve said Friday it has terminated its enforcement actions with UBS Group (UBS), Credit Suisse and their subsidiaries. UBS declined to comment to MT Newswires. Price: 45.46, Change: -0.89, Percent Change: -1.92. MT Newswires does not provide investment advice.
All three major US stock indexes were down while US Treasury yields were up in late-morning trading Friday, as investors consider developments from President Donald Trump's summit with Chinese President Xi Jinping. In company news, major semiconductor shares were down after the US-China summit failed to produce any major semiconductor agreements, Yahoo Finance reported.
The Federal Reserve said Friday it has terminated its enforcement actions with UBS Group (UBS), Credit Suisse and their subsidiaries. UBS didn't immediately reply to a request for comment from MT Newswires. Price: 45.64, Change: -0.72, Percent Change: -1.54. MT Newswires does not provide investment advice.
National Bank of Canada on Thursday reiterated its sector-perform rating on the shares of Lithium Americas (LAC) and lowered its price target to C$7.25 from C$7.50 following the company's first-quarter results.
National Bank of Canada on Thursday increased Northland Power's price target to C$28 from $27 with an outperform rating. The company reported an adjusted EBITDA of C$427 million in the first quarter, below the bank's forecast of $454 million but in line with the consensus forecast of $424 million.
New York manufacturing activity grew at the fastest pace in more than four years this month amid robust new orders, the Federal Reserve Bank of New York reported Friday. The Empire State Manufacturing Survey's general business conditions index climbed to 19.6 in May, the highest reading since April 2022, from 11 last month, the Fed branch said.
Gold traded sharply lower early Friday as the dollar and yields climbed on concerns around inflation and concerns the rise in oil prices will force central banks to hike interest rates.
Canadian existing home sales came in line with expectations of a 0.7% month-over-month uptick in April, following a 0.1% dip in March, noted Rosenberg Research. This was the first monthly gain since last October, and took the level back to 35,600 units -- a three-month high, noted Rosenberg Research.
The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada increased 17% in April to 279,317 units compared with March, said the Canada Mortgage and Housing Corporation on Friday. April's increase was better than the 245,000 consensus figure provided by MUFG.
Canada will publish the April housing starts at 8:15 a.m. ET on Friday, said Bank of Montreal. The starts look to "tick up" to around 240,000 annualized units, according to the bank. BMO noted CMHC is looking into collecting additional data -- including building permits and more insight into the pre-construction world -- so the bank awaits more details on that front.
The US dollar rose against its major trading partners early Friday ahead of the New York Federal Reserve's Empire State manufacturing reading for May at 8:30 am ET and industrial production data for April at 9:15 am ET. The St. Louis Fed is expected to update its GDP nowcast estimate for Q1 around midday.
Societe Generale in its early Friday economic news summary pointed out: -- Risk off as United States Treasury yields accelerate, OIS pricing 80% chance of Federal Reserve rate hike by December. -- Federal Reserve's Williams: no need to raise or cut rates now, policy in a good place. -- Day ahead: U.S. industrial production.
Gilead Sciences (GILD) priced a $3 billion public offering of senior unsecured notes, the company said late Thursday. The offering comprises $500 million of 4.25% notes maturing in 2028, $1 billion of 4.4% notes maturing in 2029, $1 billion of 4.6% notes maturing in 2031, and $500 million of 4.9% notes maturing in 2034.
Par Pacific Holdings (PARR) said Thursday its Par Petroleum subsidiary closed a private placement of $500 million of 7.375% senior unsecured notes due 2034. The company used the net proceeds, along with cash on hand and borrowings under its asset-based revolving credit facility, to repay all outstanding borrowings and terminate Par Petroleum's term loan due 2030.
Encompass Health (EHC) priced a private offering of $500 million in aggregate principal amount of 5.875% senior notes due 2034. The notes were priced at 100% of principal, the company said Thursday in a statement. The company will pay interest semiannually on June 1 and Dec. 1, beginning Dec. 1, 2026.
Ocugen (OCGN) said late Thursday it closed a private offering of $130 million of 6.75% convertible senior notes due 2034. The offering comprised $15 million of notes issued upon the full exercise of an overallotment option by the initial buyer, according to a statement.
Financial stocks rose late Thursday afternoon trading, with the NYSE Financial Index increasing 0.6% and the State Street Financial Select Sector SPDR ETF adding 0.7%. The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF was down 0.6%. Bitcoin gained 2.7% to $81,396, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.46%. In e...
Financial stocks were higher late Thursday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF adding 0.7%. The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF was down 0.6%. Bitcoin gained 2.7% to $81,396, and the yield for 10-year US Treasuries was decreasing 2 basis points to 4.46%. I...
Federal Reserve Governor Stephen Miran said Thursday that he will resign from the Fed before or shortly before Kevin Warsh is sworn in as a governor and Fed Chair. Miran was filling a term that expired on Jan. 31, 2026, when he said that he would remain in the position until a successor was appointed.
Gold moved lower midafternoon Thursday as the dollar rose after a report showed U.S. retail-sales growth slowed in April. Gold for June delivery was last seen down US$22.20 to US$4,684.50. The U.S. Census Bureau reported retail sales roes by 0.5% last month, down from a revised 1.6% in March but matching expectations according to Marketwatch.
Financial stocks were higher Thursday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF adding 0.6%. The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF was down 0.4%. Bitcoin gained 2.6% to $81,414, and the yield for 10-year US Treasuries was decreasing 3 basis points to 4.45%...
Badger Infrastructure Solutions (BDGIF) closed a private-placement offering of $300 million aggregate principal amount of 5.375% senior unsecured notes due May 14, 2031, the company said on Thursday. The company will use proceeds to repay indebtedness under its credit facilities, including its term facility.
Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF adding 0.6%. The Philadelphia Housing Index was climbing 0.8%, and the State Street Real Estate Select Sector SPDR ETF was down 0.4%. Bitcoin gained 2.6% to $81,414, and the yield for 10-year US Treasuries was decreasing 2.8 basis points ...
Weekly applications for unemployment insurance in the US increased more than estimated, while continuing claims also rose, government data showed Thursday. For the week through May 9, the seasonally adjusted number of initial claims grew by 12,000 to 211,000, the Department of Labor said.
National Bank of Canada on Wednesday reiterated its sector-perform rating on the shares of Hydro One (HRNNF) while raising its price target to C$56.00 from $55.00 following the company's first-quarter results. The bank raised the price target after incorporating the company's incremental capex guidance through 2027, as well as the Red Lake Transmission Line within longer-term estimates.
Canada's existing home sales rose 0.7% month over month in April, while new listings jumped 4.1% month over month, said TD. Canadian average home prices rose much more sharply in April, increasing 2.6% month over month, noted the bank after Thursday's release of data from the Canadian Real Estate Association.
US retail sales in April rose for the third straight month, with analysts saying the increase largely reflected higher prices as the war in Iran kept fuel costs elevated. Sales rose 0.5% in April following a revised 1.6% gain in March, the Census Bureau reported Thursday, matching the consensus in a survey compiled by Bloomberg.
National Bank of Canada on Wednesday raised Torex Gold Resources' (TORXF) price target to C$101 from $98 with an outperform rating. The higher price target was based on a higher NTM EBITDA window and using a 6.5x EV/EBITDA multiple, National Bank said.
Canadian existing home sales nudged up 0.7% month over month in April from March in seasonally adjusted terms, but no one is going to mistake this for a sign of spring for the chilly housing market, said Bank of Montreal on Thursday.
Gold edged higher early Thursday as treasury yields eased after a report showed U.S. retail-sales growth slowed in April. Gold for June delivery was last seen up $4.00 to US$4,710.70. The U.S. Census Bureau reported retail sales roes by 0.5% last month, down from a revised 1.6% in March but matching expectations according to Marketwatch.
The Bank of Canada's minutes for its April 29 rate decision were released on Wednesday, notes Rosenberg Research. "By far", it said, the most important quote was: "With slack in the labour market and excess supply in the economy, businesses would be less likely to pass higher costs on to consumers.
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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