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Page 2000 of 2021

US March Treasury Budget Deficit $164.1 Billion Vs $153.3 Billion Deficit Expected, March 2025 $160.5 Billion

Update: Gold Trading Lower as U.S. Inflation Surged in March on Higher Gasoline Prices

(Updates prices.)Gold futures eased midafternoon on Friday even as the dollar weakened after a report showed U.S. inflation surged in March on higher gasoline prices, cutting hopes for a cut to interest rates from the Federal Reserve.Gold for May delivery was last seen down US$28.50 to US$4,789.50 per ounce.The U.S. Bureau of Labor Statistics reported the March Consumer Price Index (CPI) rose to a 3.3% annualized rate in March, the highest since May 2024, up from 2.4% in February, but matching expectations, according to Marketwatch. Core CPI, excluding volatile food and energy prices, rose 2.6%, up from 2.5% a month earlier but came in under the consensus estimate for a 2.7% rise.The Bureau said the rise came on higher gasoline prices "which accounted for nearly three quarters of the monthly all items increase". Fuel prices have surged since the United States and Israel launched their war on Iran on Feb. 28 and Iran closed the Strait of Hormuz, cutting off 20% of daily oil supply from Persian Gulf countries.Gold remains well below its Jan. 29 record high of US$5,354.80 per ounce as rising inflation ends hope for lower U.S. interest rates. The CME FedWatch Tool expects the Federal Reserve to leave interest rates unchanged for the remainder of the year, bearish for gold since it pays no interest.The dollar was lower early, with the ICE dollar index last seen down 0.11 points to 98.71. Treasury yields rose, with the U.S. two-year note last seen paying 3.814%, up 4.1 basis points, while the yield on the 10-year note was up 4.1 points to 4.322%.

$GCK6$GLD

Wire65d ago

Market Chatter: Nexstar Media's $6.2 Billion Tegna Merger Faces Restraining Order Extension

Nexstar Media's (NXST) $6.2 billion merger with Tegna is facing fresh hurdles after a federal judge extended the restraining order on the deal by one week to April 17 to review whether a a longer preliminary injunction is needed, Associated Press reported Friday.The merger was approved by the Federal Communications Commission but ran into antitrust lawsuits last month as eight state attorneys general and DirecTV sued to block the merger in a district court in California due to concerns about consumer prices and local journalism.Neither Nexstar Media nor Tegna immediately responded to' request for comment.Shares of Nexstar were up 3.4% in Friday trading.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $184.98, Change: $+6.16, Percent Change: +3.44%

$NXST

Sectors65d ago

Sector Update: Financial Stocks Slipping Friday Afternoon

Financial stocks were lower Friday afternoon, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.2%.The Philadelphia Housing Index was down 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was little changed.Bitcoin (BTC-USD) was increasing 1.5% to $72,873, and the yield for 10-year US Treasuries rose 2.6 basis points to nearly 4.32%.In economic news, US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher. The consumer price index advanced 0.9% last month, its strongest pace of growth since June 2022, the Bureau of Labor Statistics reported Friday. The latest print met a Bloomberg-polled consensus view. Prices rose 0.3% in February. Annually, inflation grew to 3.3% from February's 2.4% rise, falling short of Wall Street's 3.4% projection.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Ares Management (ARES) is planning to launch a flagship US direct lending fund with a preliminary target size of roughly $20 billion, significantly smaller than its previous record-breaking investment vehicle of $33.6 billion, Bloomberg reported. Ares shares fell past 5%.Fair Isaac (FICO) shares dropped 13% after Barclays cut its price target on the stock to $1,950 from $2,400 while maintaining its overweight rating.Blackstone (BX) is mulling an initial public offering that could raise $2 billion for a firm that will acquire data centers, Bloomberg reported. Blackstone shares were down 2.3%.

$ARES$BX$FICO

Treasury65d ago

CIBC On the Week Ahead In Economics

In Canada, CIBC says, the release Wednesday of both Manufacturing and Wholesale data for February should confirm the sharp rebounds already signaled by the advance estimates. For Manufacturing Shipments, CIBC is forecasting a 3.5% monthly gain, compared to a consensus 3.8%. For Wholesale Sales ex-petroleum CIBC sees a 2.5% rise.However, CIBC adds, housing starts figures for March on Friday are likely to show building activity stilltracking a lower level than the 2025 average. CIBC estimates 204k versus a consensus 250k.Also on the CIBC calendar for next week are the release of Building Permits for February on Monday and then the auction of $3 billion in 30-YR CANADAS on Wednesday and auction of $5.5 billion in 2-YR CANADAS on Thursday.Thursday will see the release of March Existing Home Sales and Friday will bring February Int'l Security Transactions.Price: $143.21, Change: $+1.62, Percent Change: +1.14%

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Mining & Metals65d ago

Yangarra Resources Announces Board Chair Passing

Yangarra Resources (YGR.TO) on Friday announced the passing of board chair Gordon Bowerman.Bowerman who chaired the Yangarra board since 2001, guided the strategic direction of the company and "contributed significantly to the company's growth, governance, and long-term vision," a statement said.The board of directors has initiated a transition process.Yangarra Resources was last seen up $0.06 to $1.42 on the Toronto Stock Exchange.Price: $1.42, Change: $+0.06, Percent Change: +4.41%

$YGR.TO

Sectors65d ago

Sector Update: Health Care Stocks Lower Friday Afternoon

Health care stocks declined Friday afternoon, with the NYSE Health Care Index decreasing 0.7% and the State Street Health Care Select Sector SPDR ETF (XLV) falling 1.2%.The iShares Biotechnology ETF (IBB) dropped 1.8%.In corporate news, Replimune (REPL) shares tumbled 19%. The company's biologics license application for vusolimogene oderparepvec to treat unresectable advanced cutaneous melanoma was rejected by the US Food and Drug Administration, the regulator said in a complete response letter.Abbott Laboratories (ABT) has been ordered by a jury in Chicago to pay $53 million in compensatory damages to a group of families related to four cases over its infant formula, the Chicago Tribune reported. The families accused the company of allegedly failing to inform them that its infant formula could develop a dangerous intestinal disease in premature infants, the report said. Abbott shares fell 2.9%.Organon (OGN) is closing in on a deal to be acquired by Sun Pharmaceutical Industries for $12 billion, The Economic Times reported. Organon shares surged 23%.

$ABT$OGN$REPL

Oil & Energy65d ago

EMEA Oil Update: Crude Mixed on Saudi Supply Concerns Ahead of US-Iran Talks

EMEA crude futures diverged in after-hours trading on Friday on concerns over Saudi Arabia supply disruptions and persistent bottlenecks in the Strait of Hormuz ahead of Iran-US talks.Brent crude futures gained by 1.22% to $97.17 per barrel, while Murban oil futures were down 1.66% to $97.97/bbl.ING strategists said crude extended gains for a second session amid fresh Middle East supply concerns.On Thursday, Saudi Arabia said Iranian attacks on its energy infrastructure reduced the country's oil production capacity and East-West Pipeline throughput by about 600,000 barrels per day and 700,000 b/d, respectively.Saudi Arabia's Ministry of Energy said Thursday Iran's continued attacks on energy infrastructure lead to reduced supply and slow recovery, according to local media reports. Kuwait also said it intercepted drone attacks targeting key energy facilities on Friday.Earlier in the week, the US Energy Information Administration said Middle East producers shut in about 7.5 million b/d of crude oil production in March as storage capacity tightened, with outages projected to rise to 9.1 million b/d in April.Fueling bearish sentiment, President Trump intensified his rhetoric against Tehran, saying Iran "doesn't seem to realize they have no cards," the only leverage the country holds is its ability to create short-term pressure by blocking the Strait.The remarks come a day after Trump warned that Iran should stop charging tolls to vessels transiting the strategic waterway, as tanker traffic remains restricted on Friday.ING analysts said while Trump struck an optimistic tone on resolving the six-week conflict, he threatened Tehran over charging fees in the Hormuz.The latest shipping data shows that vessel activity through the Hormuz has increased slightly since the ceasefire took effect on Apr. 8, but flows remain well below normal levels. MarineTraffic said 14 vessels crossed the Strait on Apr. 8-9, including nine crossings on Apr. 9.On Friday, Iranian Parliament Speaker Mohammad Bagher Ghalibaf said that two agreed-upon actions, a ceasefire in Lebanon and the release of Iran's blocked assets, must be implemented before negotiations begin.Going forward, market participants' focus is now on the sustainability of the US-Iran ceasefire ahead of talks in Islamabad, Pakistan, on Saturday.Saxo Bank strategists said the Hormuz closure remains a key focus ahead of talks between US and Iranian officials.

Sectors65d ago

Sector Update: Consumer Stocks Decline in Afternoon Trading

Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.In sector news, US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Tesla (TSLA) Chief Executive Elon Musk's xAI has filed a lawsuit against the State of Colorado regarding a new AI bill aimed at protecting consumers from "algorithmic discrimination," according to court filings. Tesla shares were down 0.5%.Simply Good Foods (SMPL) shares fell 10% after Stephens downgraded the company's rating to equal-weight from overweight and cut its price target to $14 from $24.CarMax (KMX) shares rose 1.7% after it said late Thursday it plans to add William Cobb and James Kessler to its board following "constructive engagement" with activist investor Starboard Value.

$KMX$SMPL$TSLA

Commodities65d ago

Eni Unit Plenitude Closes $586 Million ACEA Deal, Adds 1.2 Million Customers

Eni (E) said Friday its unit Plenitude completed a roughly 500 million euro ($586 million) acquisition, adding about 1.2 million customers.Plenitude, a subsidiary of Eni, finalized the purchase of full ownership in Acea Energia and a 50% stake in Umbria Energy, completing a transaction previously cleared by regulators.The deal transfers around 1.2 million customers to Plenitude, though vulnerable electricity users were excluded and will remain under ACEA.The total consideration is approximately 500 million euros, based on an enterprise value of 448 million euros, adjusted for the cash position as of Dec. 31, 2024, along with other agreed financial adjustments.The structure also includes dividend-related adjustments of about 82 million euros paid to ACEA, as well as provisions tied to transaction timing and any potential financial leakages.An additional earnout of up to 100 million euros may be paid depending on operating performance, with evaluation scheduled for completion by June 30, 2027.ACEA is an Italy-based infrastructure group focused on water, energy, and environmental services, with 116 years of operations, leading Italy's water sector and expanding internationally, while emphasizing regulated assets and sustainability-driven growth.Plenitude operates in 15+ countries with 5.8 gigawatts capacity and 11 million customers, targeting 15 gigawatts, 15 million users, and 30,000 EV charging points by 2030.Price: $56.30, Change: $+0.62, Percent Change: +1.11%

Insider Trading65d ago

Pharvaris Insider Sold Shares Worth $647,281, According to a Recent SEC Filing

Berndt Modig, Director, Chief Executive Officer, on April 09, 2026, sold 23,333 shares in Pharvaris (PHVS) for $647,281. Following the Form 4 filing with the SEC, Modig has control over a total of 1,092,084 common shares of the company, with 142,084 shares held directly and 950,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1830487/000119312526150954/xslF345X05/ownership.xmlPrice: $26.52, Change: $-0.55, Percent Change: -2.03%

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Research65d ago

Research Alert: CFRA Maintains Strong Buy Rating On Vrt Shares

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Data center spend remains in an uptrend in 2026, with recent U.S. census bureau data indicating that data center construction spending has now eclipsed investments in commercial office buildings. We revise our EPS growth assumptions higher ahead of VRT's Q1 print in late April, updating our 12-month target to $325 from $285, valuing shares at 38.8x our 2027 EPS outlook of $8.37 (up from $8.15; 2026 EPS view changed to $6.18 from $6.04), an above-trend multiple that we see as warranted given VRT's multi-pronged approach to capitalizing on unprecedented demand for electrical management and thermal cooling technologies. In our view, VRT has done a commendable job of positioning itself as a leading manufacturer and service provider of data center infrastructure, developing a "systems" approach to their offerings that helps to deepen the company's competitive positioning. VRT continues to successfully leverage partnerships, accelerating product development and further embedding the company in the AI ecosystem.

$VRT

Mining & Metals65d ago

RBC on Blackberry Returning to Growth

RBC Capital Markets on Friday said BlackBerry (BB.TO, BB) reported solid fourth-quarter results that beat RBC and consensus estimates.The company's fiscal 2027 revenue guidance also flagged improved growth, above expectations, notes analyst Paul Treiber, who is nevertheless maintaining a sector-perform rating and US$4.50 price target on the stock to reflect compression in software peer valuations.The company is benefitting from increasing uptake of its expanded QNX portfolio: management sees middleware as an emerging opportunity, and initial interest appears positive, with Mercedes-Benz currently in discussions, Treiber notes.Secure Communications also returned to growth with BlackBerry seeing increasing demand from governments related to digital sovereignty.Price: $5.29, Change: $+0.04, Percent Change: +0.76%

$BB$BB.TO

US Markets65d ago

ServiceNow's Moat Threatened Amid Growing AI Automation Risks, UBS Says in Downgrade

ServiceNow's (NOW) competitive advantage may have eroded amid growing evidence that workflow automation tasks can be automated by harnessing artificial intelligence models, UBS Securities said in a note e-mailed Friday.The company, which provides both software- and platform-as-a-service offerings, may also be facing headwinds from indications of reduced enterprise spending on non-AI or core software, the brokerage said."Our view to date, and the reason why ServiceNow has been our only buy-rated application software stock, has been that it has a wider moat and a more compelling 'AI winner' narrative than peers such as Salesforce (CRM) and Workday (WDAY)," UBS analysts Karl Keirstead and Claire Gerdes said in a note to clients."Now, we have less confidence in that view given anecdotes that workflow automation tasks can indeed be automated by harnessing AI models, raising the risk that more enterprises may do so instead of upgrading to ServiceNow's Pro Plus/Now Assist stock keeping unit," the duo wrote.UBS downgraded its rating on the ServiceNow stock to neutral from buy and lowered its price target to $100 from $170.The company's shares were down 8.6% in Friday afternoon trade, bringing its year-to-date losses to 46%.UBS said it now sees ServiceNow posting "skinnier-than-normal" beats in the quarters ahead."While ServiceNow has a strong track record of beating its guidance and hence we're not calling for a miss, the most likely scenario now appears to be skinnier-than-normal beats in the coming quarters and more limited upside to the guidance for stable organic (constant-current subscription revenue) growth of 19% in 2026," the analysts said.Earlier this year, ServiceNow agreed to integrate OpenAI's AI models directly into its business software under a multiyear deal aimed at helping accelerate enterprise AI adoption and outcomes.ServiceNow is scheduled to report first-quarter financial results April 22.Price: $82.33, Change: $-7.48, Percent Change: -8.33%

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Commodities65d ago

US Natural Gas Update: Futures Edge Lower in Listless Trade

US natural gas futures edged lower in subdued midday trading Friday as storage data largely matched expectations and shoulder-season demand remained weak against a backdrop of ample supply.The front-month Henry Hub contract, along with the continuous contract, fell 0.56% to $2.66 per million British thermal units.Earlier in the session, prices touched an eight-month low of $2.63/MMBtu before recovering.Analysts at Gelber and Associates said the primary driver continues to be fading weather-related demand, with warmer temperatures reducing residential and commercial consumption. Export demand, however, offered some support, with flows to Mexico holding at 7.4 Bcf/d and LNG feedgas near 20.2 Bcf/d.Production rebounded to 109.3 Bcf/d, while Canadian imports remained steady at 5.1 Bcf/d, bringing total supply to 114.4 Bcf/d and leaving the domestic market well supplied, the firm added.On Thursday, the US Energy Information Administration reported a 50 billion cubic feet injection into storage for the week ended Apr. 3. The build exceeded the prior week's 36 Bcf injection but fell short of the 57 Bcf added during the same period last year. The figure also came in above market expectations of a 41-Bcf increase, according to data compiled by Investing.com.Despite the larger-than-expected build, the Energy Buyer's Guide said the report failed to provide fresh directional momentum for prices. It noted that next week's data may show a slightly smaller injection before builds accelerate in subsequent weeks."Unless the weather turns less bearish or supply slips again, Henry Hub looks more likely to stay tied to soft spring fundamentals than to break into a broader move higher," Gelber and Associates said.

Sectors65d ago

Sector Update: Tech Stocks Gain Friday Afternoon

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) rising 1.8%.The Philadelphia Semiconductor index climbed 2.3%.In corporate news, CoreWeave (CRWV) shares jumped 11% after the AI cloud computing company struck a deal to support the development and deployment of Anthropic's Claude AI models.Commvault Systems (CVLT) is exploring a sale after receiving takeover interest from multiple private equity firms and strategic buyers, Reuters reported. The data protection software provider is working with Goldman Sachs (GS) to weigh its options, the report said. Commvault shares popped 10%.Microsoft-backed (MSFT) OpenAI and its ChatGPT are under investigation by Florida Attorney General James Uthmeier over potential national security risks and alleged links to criminal activity, The Wall Street Journal reported Friday. Subpoenas are expected as part of the probe, which raises concerns about possible misuse of AI by foreign adversaries, including China, the report said, citing Uthmeier. Microsoft shares were down 0.7%.

$CRWV$CVLT$MSFT

Sectors65d ago

Sector Update: Financial

$FICO

Sectors65d ago

Sector Update: Energy

Energy stocks were mixed Friday afternoon, with the NYSE Energy Sector Index fractionally higher and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index was shedding 0.7%, and the Dow Jones US Utilities Index was up 0.1%.In sector news, President Donald Trump said Friday in a phone interview with the New York Post that US warships are being restocked with ammunition in order to resume strikes should peace talks with Iran falter this weekend.Front-month West Texas Intermediate crude oil was rising 0.4% to $98.23 a barrel, and the global benchmark Brent crude contract was advancing 1.1% to $96.94 a barrel. Henry Hub natural gas futures fell 0.6% to $2.65 per 1 million BTU.In corporate news, Shell (SHEL) confirmed in an email toon Friday that it is in talks with Venezuela to produce natural gas at the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago. The company expects to produce gas from Manatee in 2027 but has yet to take a final investment decision on the Loran field, according to a spokesperson. Shell shares were up 0.9%.

$SHEL

Mining & Metals65d ago

Teako Minerals to Close the Final Tranche of Private Placement of Shares

Teako Minerals (TMIN.CN) on Friday said it plans to the final tranche of a non-brokered private placement of shares ng for the issuance of common shares.The company said it has subscription for 12.27-million shares in the tranche it plans to close on or before April 17, raising C$736,230.The company plans to use proceeds for anticipated exploration activities as well as general working capital purposes.Shares of the company were last seen up $0.005 at $0.055 on the Canadian Securities Exchange.

$TMIN.CN

Commodities65d ago

Australia Approves Viva Energy LNG Terminal to Boost Supply Security

Viva Energy said Thursday that its Geelong LNG terminal has secured federal environmental approval, advancing a key project to support Australia's energy security.The approval, granted under the Environment Protection and Biodiversity Conservation Act, allows the liquefied natural gas terminal to proceed subject to conditions, the company said.The decision follows a favorable environmental assessment by the Victorian government last year, which cleared the project after reviewing its broader environmental impact, it added.Viva Energy said the planned terminal at Geelong Refinery Pier is positioned to deliver a reliable gas supply as domestic production declines, supporting southeast Australia's energy needs.Independent studies found the project would not affect the Corio Bay marine ecosystem or nearby Ramsar wetlands, addressing key environmental concerns, Viva Energy added.Separately, Viva Energy also noted it is working with Export Finance Australia to secure additional fuel supplies to strengthen national energy resilience during the Middle East crisis.The agreement enables faster procurement and delivery of fuel into Australia, supported by government measures including price backing and potential working capital support, it said.Viva Energy added its refining operations, national import terminals, and trading partnership with Vitol position it to respond quickly to supply disruptions and support broader fuel security efforts.

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Oil & Energy65d ago