The Canadian market ended weak on Thursday, extending losses from the previous session, as weak metal prices and uncertainty about U.S. interest rate outlook rendered the mood cautious. The benchmark S&P/TSX Composite Index, which tumbled to 22,134.74 intraday, ended with a loss of 145.97 points or 0.65% at 22,200.79, the lowest close since May 3....
The Australian dollar strengthened against some major currencies in the Asian session on Thursday. The Australian dollar rose to a 9-day high of 1.6223 against the euro, from yesterday\'s closing value of 1.6254. Against the Canada and the U.S. dollars, the aussie advanced to more than a 1-year high of 0.9126 and more than a...
The New Zealand dollar strengthened against some major currencies in the Asian session on Thursday. The NZ dollar rose to more than 2-month highs of 0.6141 against the U.S. dollar and 1.7738 against the euro, from yesterday\'s closing quotes of 0.6129 and 1.7766, respectively. Against the Australian dollar, the kiwi advanced to more than a...
European stocks are likely to open higher on Thursday as easing inflation led investors to price two U.S. rate cuts in 2024. According to CME FedWatch, over 50 percent of traders are pricing in a rate cut in September. Asian markets traded sharply higher after all three major U.S. averages notched record closing highs overnight....
The Antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Thursday amid risl appetite, as traders reacted positively to a closely watched report on U.S. consumer price inflation that showed a smaller-than-expected increase in the month of April to reinforce expectations the U.S....
Asian stocks rallied on Thursday after Wall Street\'s three major indexes notched record closes overnight on optimism that inflation is heading back in the right direction and that there will be two interest rate cuts by the U.S. Federal Reserve in 2024. Gold was little changed in Asian trading after climbing by 1 percent on...
The Labor Department released a report on Thursday showing U.S. import prices jumped by much more than expected in the month of April. The report said import prices shot up by 0.9 percent in April after climbing by an upwardly revised 0.6 percent in March. Economists had expected import prices to rise by 0.3 percent...
Philadelphia-area manufacturing activity saw a notable slowdown in the pace of growth in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity tumbled to 4.5 in May from 15.5 in April, although a positive reading...
Blackstone, Inc. (BX) announced Thursday that Blackstone Growth and affiliated funds have entered into a definitive agreement to acquire a majority stake in Priority Software, a leading provider of mission-critical business software. The terms of the deal were not disclosed. Blackstone\'s investment will help build on the company\'s position at the forefront of the ERP...
Insurer Allstate Corp. (ALL) announced Thursday estimated catastrophe losses for the month of April 2024 of $494 million or $390 million, after-tax. Catastrophe losses in April include 11 events estimated at $491 million, with approximately 80% of the losses related to four wind, hail or tornadic events.