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Utilities Drop as Treasury Yields Rise - Utilities Roundup

Shares of power producers fell as Treasury yields rebounded.

A consortium including utilities FirstEnergy and Constellation Energy are pouring billions into increasing electricity generation in the Pennsylvania region as part of a sprawling artificial-intelligence project, according to the White House.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:36 ET (21:36 GMT)

Communications Services Decline on Fed Fears - Communications Services Roundup

Communications-services companies fell sharply as traders fled risky sectors following inflation data.

Hopes for a Federal Reserve rate cut in the coming months were diminished by evidence that tariffs are being passed on to consumers, said economists at brokerage Bank of America Global Research.

"Today's inflation report all but dashes any remaining hopes that the Fed may cut interest rates at its meeting later this month," said Bret Kenwell, investment strategist at brokerage eToro.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:35 ET (21:35 GMT)

Tech Hits All-Time Highs on AI Boom - Tech Roundup

Shares of technology companies rose to all-time highs as speculative bets on artificial-intelligence companies gathered momentum ahead of earnings season.

Shares of graphics-chip maker Nvidia rose 4% and are now up by more than 20% for the year to date, extending the company's lead as the largest by market capitalization.

Apple said it would buy $500 million of rare-earth magnets from MP Materials, expanding its U.S. supply chain for a critical element of its devices while under pressure from the Trump administration.

Some of the world's biggest companies pledged tens of billions of dollars to accelerate the development of artificial intelligence in Pennsylvania. Alphabet's Google, AI firm Coreweave and investment firm Blackstone are among the firms set to put up billions of dollars into the project.

Members of the House of Representatives voted down a key procedural measure that would have cleared the way for votes on cryptocurrency-related bills, despite President Trump having declared this "Crypto Week" on his social-media account.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:35 ET (21:35 GMT)

Financials Decline on Bank Earnings - Financials Roundup

Shares of banks and other financial institutions fell after mixed bank earnings.

JPMorgan Chase reported better-than-expected results for the second quarter and showed few signs of slowing down, with all of the bank's underlying businesses increasing revenue and profit.

On a postearnings call, Chief Executive Jamie Dimon warned that the Trump administration's attacks on Federal Reserve Chair Jerome Powell could backfire.

Wells Fargo shares slid after the commercial bank forecast muted growth in net interest income.

Citigroup shares rallied after volatile second-quarter markets supercharged results at the global bank's trading desk.

Shares of BlackRock slid even after the world's largest money manager by assets said its assets under management reached an all-time high of $12.53 trillion.

Custodial bank State Street said second-quarter profit fell despite higher revenue, as increased costs offset a jump in fee revenue.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:35 ET (21:35 GMT)

Consumer Cos Drop After CPI Data - Consumer Roundup

Consumer companies fell after inflation data. Consumer prices rose by 2.7% in June, in line with economists' targets.

"Today's report finally provided ample evidence that tariffs are being passed onto consumers," said economists at brokerage Bank of America Global Research, in a note to clients.

Grocery-store chain Albertsons posted second-quarter revenue growth after strong sales growth at its pharmacy unit.

U.S. burger chain Wendy's plans to open 190 new restaurants in Italy and Armenia, part of a broader goal of reaching 2,000 international restaurants by 2028.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:35 ET (21:35 GMT)

Health Care Declines as Flight From Health Insurers Continues - Health Care Roundup

Health-care companies fell as a flight from health insurers continued.

Shares of UnitedHealth Group fell 2.9% and are now down 42% for the year to date. Humana slipped 2.4%. Elevance Health shares fell 1.1% ahead of the insurer's earnings report later in the week.

Senate Republicans reached an agreement with the White House on a slimmed-down $9 billion package of spending cuts that preserves funding for AIDS treatments in Africa.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:35 ET (21:35 GMT)

Industrials Decline on Rate Concerns - Industrials Roundup

Shares of industrial and transportation companies fell as odds of a rate cut shrank.

While consumer prices rose by a relatively muted 2.7% in June from a year earlier, in line with economists' expectations, the monthly data showed the first clear impact of tariffs on product prices, likely giving the Federal Reserve pause, said economists at brokerage Bank of America Global Research.

For months, investors have awaited signs that the Trump administration's trade policy would result in retailers passing on price pressures to consumers.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:34 ET (21:34 GMT)

Euro Loses 0.55% to $1.1603 -- Data Talk

Euro/dollar: 1.1603 dollars per euro (0.8619 euro per dollar)

--Today the euro lost 0.55% vs. the dollar

--Largest one-day percentage decline since Monday, July 7, 2025

--Down for five straight sessions

--Down 1.05% over the last five sessions

--Largest five-day percentage decline since Wednesday, May 14, 2025

--Longest losing streak since Wednesday, March 26, 2025 when the market fell for six straight sessions

--Down eight of the past 10 sessions

--Lowest five pm New York rate since Monday, June 23, 2025

--Off 1.74% from its 52-week high of 1.1808 hit Tuesday, July 1, 2025

--Up 13.24% from its 52-week low of 1.0246 hit Monday, Jan. 13, 2025

--Rose 6.45% vs the dollar from 52 weeks ago

--Month-to-date it is down 1.59% vs the dollar

--Year-to-date the euro is up 12.04% vs the dollar

Data based on 5 p.m. ET values

Source: Tullett Prebon and Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 17:34 ET (21:34 GMT)

Materials Drop as Dollar Gains on Inflation Data - Materials Roundup

Producers of metals and other raw materials fell as the U.S. dollar rose sharply against other currencies in the wake of inflation data.

Consumer price index rose 2.7% in June from a year earlier, but one brokerage said an increase in goods prices could have tied central bankers' hands.

"The report showed clearer signs of tariff-driven price pressure, but discretionary services prices continued to fall," said economists at brokerage Bank of America Global Research. "The Fed, however, is likely to take little comfort in today's data as core PCE should print well above core CPI."

This marked the first increase in core goods prices since February. The details show broad-based increases with household appliances, apparel, and recreation commodities posting firm price hikes on the month.

Anglo-Australian mining giant Rio Tinto has named iron ore boss Simon Trott as its next chief executive, opting for his experience in running the mining giant's most profitable operations as the company seeks to strengthen its growing business.

Separately, shares of Newmont stock slid after the Colorado-based gold miner disclosed that its chief financial officer had resigned.

Dollar-sensitive gold futures gave back some of their recent gains, but remained close to all-time highs.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:34 ET (21:34 GMT)

Energy Drops With Oil Futures - Energy Roundup

Shares of energy companies fell alongside oil futures as the likelihood of rate cuts and of U.S. sanctions on Russia in the near term shrank.

Oil futures slipped 0.7% to $66.52 a barrel in New York. Natural gas futures bounced back above the $3.50 per million British thermal units level, as traders continued to with help from midday data showing a slightly warmer temperature outlook.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 15, 2025 17:34 ET (21:34 GMT)

The WSJ Dollar Index Rises 0.45% to 95.64 -- Data Talk

The WSJ Dollar Index is up 0.43 point or 0.45% today to 95.64

--Largest one-day point and percentage gain since Monday, July 7, 2025

--Up for three consecutive trading days

--Up 0.96 point or 1.01% over the last three trading days

--Largest three-day point and percentage gain since Monday, May 12, 2025

--Up four of the past five trading days

--Off 9.04% from its record close of 105.14 hit Tuesday, Sept. 27, 2022

--Highest closing value since Tuesday, June 3, 2025

--Off 7.69% from its 52-week high of 103.61 hit Friday, Jan. 10, 2025

--Up 1.84% from its 52-week low of 93.91 hit Tuesday, July 1, 2025

--Down 3.56% from 52 weeks ago

--Month-to-date it is up 1.73%

--Year-to-date it is down 7.12 points or 6.93%

Data based on 5 p.m. ET values

Source: Tullett Prebon and Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 17:34 ET (21:34 GMT)

Dollar Gains 0.77% to 148.87 Yen -- Data Talk

Dollar/Japanese yen: 148.87 Japanese yen per dollar (0.0067 dollar per Japanese yen)

--Today the dollar gained 0.77% vs. the Japanese yen

--Up for three straight sessions

--Up 1.79% over the last three sessions

--Largest three-day percentage gain since Monday, May 12, 2025

--Up seven of the past 10 sessions

--Highest five pm New York rate since Wednesday, April 2, 2025

--Off 6.00% from its 52-week high of 158.36 hit Wednesday, Jan. 8, 2025

--Up 5.87% from its 52-week low of 140.613 hit Monday, Sept. 16, 2024

--Down 5.99% vs the Japanese yen from 52 weeks ago

--Month-to-date it is up 3.35% vs the Japanese yen

--Year-to-date the dollar is down 5.31% vs the Japanese yen

Data based on 5 p.m. ET values

Source: Tullett Prebon and Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 17:33 ET (21:33 GMT)

Dollar Gains 0.12% to 1.3724 Canadian Dollars -- Data Talk

Dollar/Canadian dollar: 1.3724 Canadian dollars per dollar (0.7287 dollar per Canadian dollar)

--Today the dollar gained 0.12% vs. the Canadian dollar

--Up for three straight sessions

--Up 0.51% over the last three sessions

--Largest three-day percentage gain since Wednesday, July 9, 2025

--Up six of the past eight sessions

--Highest five pm New York rate since Wednesday, June 25, 2025

--Off 5.58% from its 52-week high of 1.4535 hit Friday, Jan. 31, 2025

--Up 2.17% from its 52-week low of 1.3432 hit Tuesday, Sept. 24, 2024

--Rose 0.37% vs the Canadian dollar from 52 weeks ago

--Month-to-date it is up 0.84% vs the Canadian dollar

--Year-to-date the dollar is down 4.60% vs the Canadian dollar

Data based on 5 p.m. ET values

Source: Tullett Prebon and Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 17:33 ET (21:33 GMT)

Sterling Loses 0.32% to $1.3383 -- Data Talk

British pound/dollar: 1.3383 dollars per British pound (0.7472 British pound per dollar)

--Today the British pound lost 0.32% vs. the dollar

--Down for eight straight sessions

--Down 1.99% over the last eight sessions

--Largest eight-day percentage decline since Friday, Jan. 17, 2025

--Longest losing streak since Thursday, March 19, 2020 when the market fell for eight straight sessions

--Down nine of the past 10 sessions

--Off 10.02% since the pre-Brexit vote level of 1.49 on Thursday, June 23, 2016

--Lowest five pm New York rate since Monday, May 19, 2025

--Off 2.63% from its 52-week high of 1.3745 hit Tuesday, July 1, 2025

--Up 9.99% from its 52-week low of 1.2167 hit Friday, Jan. 17, 2025

--Rose 3.14% vs the dollar from 52 weeks ago

--Month-to-date it is down 2.56% vs the dollar

--Year-to-date the British pound is up 6.94% vs the dollar

Data based on 5 p.m. ET values

Source: Tullett Prebon and Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 17:33 ET (21:33 GMT)

Dollar Gains 0.41% to 18.8153 Mexican Pesos -- Data Talk

Dollar/Mexican peso: 18.8153 Mexican pesos per dollar (0.0531 dollar per Mexican peso)

--Today the dollar gained 0.41% vs. the Mexican peso

--Up for three straight sessions

--Up 1.13% over the last three sessions

--Largest three-day percentage gain since Tuesday, April 8, 2025

--Up four of the past five sessions

--Highest five pm New York rate since Friday, June 27, 2025

--Off 9.75% from its 52-week high of 20.8489 hit Thursday, Jan. 16, 2025

--Up 6.50% from its 52-week low of 17.6666 hit Tuesday, July 16, 2024

--Rose 6.50% vs the Mexican peso from 52 weeks ago

--Month-to-date it is up 0.36% vs the Mexican peso

--Year-to-date the dollar is down 9.66% vs the Mexican peso

Data based on 5 p.m. ET values

Source: Tullett Prebon and Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 17:33 ET (21:33 GMT)

Ethereum Gained 1.18% to $3044.00 -- Data Talk

Ethereum is up $35.61 today or 1.18% to $3044.00

--Highest 5 p.m. level since Feb. 1, 2025, when it traded at $3153.40

--Largest percentage increase since July 13, 2025 when it gained 2.45%

--Up seven of the past eight days

--Up three consecutive days, up 4.2% over this period

--Up 21.63% month-to-date

--Down 8.99% year-to-date

--Down 37.44% from its all-time intraday high of $4865.81 on Nov. 10, 2021

--Down 11.60% from 52 weeks ago (July 16, 2024), when it traded at $3443.31

--Down 25.86% from its 52-week intraday high of $4105.92 on Dec. 16, 2024

--Up 111.48% from its 52-week intraday low of $1387.85 on April 9, 2025

--Traded as high as $3096.00; highest intraday level since Feb. 2, 2025

--Up 2.91% at today's intraday high

Note: The Ethereum price is a 5 p.m. ET snapshot from Kraken

Data compiled by Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 17:28 ET (21:28 GMT)

S&P/TSX Composite Index Ends 0.53% Lower at 27054.14 -- Data Talk

The S&P/TSX Composite Index is down 144.71 points or 0.53% today to 27054.14

--Third highest close in history

--Largest one-day point and percentage decline since Wednesday, June 25, 2025

--Down two of the past three trading days

--Off 0.53% from its record close of 27198.85 hit Monday, July 14, 2025

--Up 7.92% from the Inauguration Day close of 25067.92 on Monday, Jan 20, 2025

--Today's closing value is the third highest this year

--Off 0.53% from its 52-week high of 27198.85 hit Monday, July 14, 2025

--Up 23.64% from its 52-week low of 21880.95 hit Wednesday, Aug. 7, 2024

--Rose 17.65% from 52 weeks ago

--Off 0.53% from its 2025 closing high of 27198.85 hit Monday, July 14, 2025

--Up 20.20% from its 2025 closing low of 22506.90 hit Tuesday, April 8, 2025

--Month-to-date it is up 0.73%

--Year-to-date it is up 2326.20 points or 9.41%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 17:21 ET (21:21 GMT)

Bovespa Index Ends Flat at 135250.10 -- Data Talk

The Bovespa Index is down 48.89 points or 0.04% today to 135250.10

--Down for seven consecutive trading days

--Down 6013.46 points or 4.26% over the last seven trading days

--Largest seven-day point and percentage decline since Tuesday, April 8, 2025

--Longest losing streak since Thursday, Aug. 17, 2023, when the market fell for 13 straight trading days

--Off 4.26% from its record close of 141263.56 hit Friday, July 4, 2025

--Lowest closing value since Wednesday, May 7, 2025

--Off 4.26% from its 52-week high of 141263.56 hit Friday, July 4, 2025

--Up 14.10% from its 52-week low of 118532.68 hit Friday, Jan. 3, 2025

--Rose 4.76% from 52 weeks ago

--Off 4.26% from its 2025 closing high of 141263.56 hit Friday, July 4, 2025

--Up 14.10% from its 2025 closing low of 118532.68 hit Friday, Jan. 3, 2025

--Month-to-date it is down 2.60%

--Year-to-date it is up 14966.70 points or 12.44%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 17:21 ET (21:21 GMT)

IPC Indice de Precios Y Cotizaciones Ends 0.21% Higher at 56482.91 -- Data Talk

The IPC Indice de Precios Y Cotizaciones is up 120.24 points or 0.21% today to 56482.91

--Largest one-day point and percentage gain since Wednesday, July 2, 2025

--Snaps a two-trading-day losing streak

--Off 3.84% from its record close of 58735.86 hit Wednesday, May 28, 2025

--Up 12.51% from the Inauguration Day close of 50201.32 on Monday, Jan 20, 2025

--Off 3.84% from its 52-week high of 58735.86 hit Wednesday, May 28, 2025

--Up 15.65% from its 52-week low of 48837.72 hit Monday, Dec. 30, 2024

--Rose 3.89% from 52 weeks ago

--Off 3.84% from its 2025 closing high of 58735.86 hit Wednesday, May 28, 2025

--Up 15.37% from its 2025 closing low of 48957.24 hit Friday, Jan. 3, 2025

--Month-to-date it is down 1.68%

--Year-to-date it is up 6969.64 points or 14.08%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 17:21 ET (21:21 GMT)

S&P MERVAL Index Ends 0.54% Higher at 2075071.76 -- Data Talk

The S&P MERVAL Index is up 11046.38 points or 0.54% today to 2075071.76

--Up for two consecutive trading days

--Up 67639.10 points or 3.37% over the last two trading days

--Largest two-day point and percentage gain since Wednesday, July 2, 2025

--Off 26.67% from its record close of 2829730.44 hit Thursday, Jan. 9, 2025

--Off 26.67% from its 52-week high of 2829730.44 hit Thursday, Jan. 9, 2025

--Up 46.96% from its 52-week low of 1411953.38 hit Tuesday, July 30, 2024

--Rose 35.96% from 52 weeks ago

--Off 26.67% from its 2025 closing high of 2829730.44 hit Thursday, Jan 9, 2025

--Up 4.95% from its 2025 closing low of 1977115.89 hit Monday, June 23, 2025

--Month-to-date it is up 4.02%

--Year-to-date it is down 458562.89 points or 18.10%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 17:21 ET (21:21 GMT)

Labor Department Relied More on Fuzzier Price Guesses in June Inflation Data

By Matt Grossman

Economists' anxiety about official U.S. inflation data is growing. One major issue: They don't have the numbers they need to understand the scope of the problem.

Concerns about degraded inflation data have been swirling since June, when the Bureau of Labor Statistics confirmed that staff shortages have forced a reduction in its monthly price-gathering efforts. That admission came after The Wall Street Journal reported on how the BLS was leaning more heavily on a less-accurate method of estimating prices.

To calculate the inflation rate, stats workers check stores and online retailers to see how prices are changing month to month. When that isn't possible, they estimate.

Starting with April's data, the BLS reported that it was more often basing its guesses on less comparable products or other regions of the country, a process called different-cell imputation. Data released Tuesday showed that the problem deepened in June. The BLS used different-cell imputation 35% of the time when estimating missing prices, up from 30% a month earlier and well above the level of around 10% that was typical before the staffing challenges began.

That at least suggests that the problems caused by the staffing issue are trending in the wrong direction, said Omair Sharif, an analyst who runs Inflation Insights, an inflation-research service.

"This is not ideal," Sharif said. "To the extent that you're doing imputation, you'd prefer to do it more apples to apples."

But Sharif and other economists tracking the issue are up against an obstacle: The BLS hasn't published enough information for them to understand how much the shift in estimation methodology is affecting the inflation calculation.

Monthly data from the agency show that when an estimate is used instead of a real-world price, it is relying on different-cell imputation more often. But the BLS hasn't said how often it is guessing prices overall. That makes it impossible to understand how serious problems with the inflation data have become, said Alan Detmeister, an economist at investment bank UBS.

"I would be flabbergasted if the total number hasn't gone up," Detmeister said. "It just has the feel that there's been a much more major shift than they're willing to let on."

Without more information than the BLS has provided so far, it can't be known for sure, he added.

Spokespeople for the BLS and its parent, the Labor Department, didn't respond to a request for comment.

Tuesday's inflation report for June showed a modest pickup in price increases last month, returning the 12-month inflation rate to 2.7%, up from 2.4% in May. Economists, investors and policymakers are paying especially close attention to inflation in the past few months because they are eager to see whether steep new tariffs from the Trump administration are pushing up consumer prices.

Despite concerns about the shrinking price survey, most economists still consider the official inflation data trustworthy. Critically, there's been no indication of political pressure on the agency to alter the numbers.

In recent weeks data fidelity at the BLS has drawn the attention of Congress and the Federal Reserve. Last month, a group of Democratic senators asked the BLS for details on the size of its staffing shortfall and its consequences for official economic statistics. The senators didn't receive an answer by the June 19 deadline they laid out, said a spokeswoman for the group's leader, Ruben Gallego of Arizona.

In a press conference last month, Fed Chair Jerome Powell lamented the BLS's staffing challenges, calling accurate economic statistics an important public service.

"I hate to see us cutting back on that," Powell said.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

July 15, 2025 17:16 ET (21:16 GMT)

Dow Jones Top Company Headlines at 5 PM ET: JPMorgan Earnings Show Economy and Wall Street Are Still Chugging Along | J.B. ...

JPMorgan Earnings Show Economy and Wall Street Are Still Chugging Along

Jamie Dimon and America's big banks say the U.S. economy has remained resilient.

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J.B. Hunt Profit Falls Due to Higher Expenses

J.B. Hunt Transport Services logged lower earnings in the second quarter as medical expenses, insurance costs and driver wages rose.

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Omnicom Posts Lower Earnings Amid Interpublic Acquisition

Omnicom reported a lower profit for the second quarter, citing increased costs from its acquisition of rival Interpublic Group and severance actions stemming from efficiency initiatives.

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Tesla's Top North American Sales Executive Leaves Amid Slump

Troy Jones's exit after 15 years is the latest departure at Elon Musk's electric-car company.

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Apple Commits $500 Million for Rare-Earth Magnets From U.S. Supplier

MP Materials will supply Apple with magnets it produces at a Texas facility, expanding Apple's U.S. supply chain at a time when President Trump has pressured Apple to do so.

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Renault Cuts Guidance in Tough Auto Market, Names Interim CEO

Renault slashed its financial targets for the year, citing a worsening automotive market as the group faces stiff competition from rivals, and elevated finance chief Duncan Minto to interim CEO.

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Citigroup's Profit Rises on Revenue From Trading, Investment Bank

The bank reported a second-quarter profit of $4.02 billion, or $1.96 a share, compared with $3.22 billion, or $1.52 a share, in the year-ago period. Analysts polled by FactSet expected $1.61 per share in earnings.

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Trump Touts Billions in Investments to Create AI Hub in Pennsylvania

The commitments are part of a campaign to transform the Steel City and surrounding areas.

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Aquarian Nears Deal for U.S. Insurer Brighthouse

A number of private-equity firms had expressed interest in the insurer.

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Rio Tinto Names Iron Ore Chief Simon Trott as CEO

The miner opted for Trott and his experience running its most profitable operations as the company seeks to strengthen its growing business.

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Wells Fargo Profit Rises After Lifting of Asset Cap

Wells Fargo said its profit rose in the second quarter, in which a years-long restriction on growth at the bank was lifted by the Federal Reserve.

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BlackRock's Assets Surge Past $12 Trillion

Record-high U.S. stock prices and $68 billion of net client inflows boosted the investment firm.

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State Street Profit Falls as Costs Increase

State Street's second-quarter profit fell despite higher revenue, as increased costs offset a jump in fee revenue.

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Bank of New York Mellon Earnings Boosted by Net Interest

Bank of New York Mellon logged higher-than-expected earnings and revenue in the second quarter, helped by its fast-growing net interest income.

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Nvidia Can Sell AI Chip to China Again After CEO Meets Trump

The U.S. will grant licenses for the H20 chip after it had announced restrictions in April.

(END) Dow Jones Newswires

July 15, 2025 17:15 ET (21:15 GMT)

Dow Jones Top Markets Headlines at 5 PM ET: Dimon Defends Fed Independence After Trump Attacks | Inflation ...

Dimon Defends Fed Independence After Trump Attacks

Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve's credibility.

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Inflation Picks Up to 2.7% as Tariffs Start to Seep Into Prices

Economists are split on how much tariffs will affect prices in the coming months, as Trump's tariff policy remains uncertain.

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Canada PM Carney Signals U.S. Tariffs May Be Here to Stay

The Canadian prime minister said it may not be possible to escape U.S. tariffs even with a bilateral agreement to resolve the current tariff row.

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U.S. Stocks Mostly Lower as Inflation Data Meets Forecasts

Stocks were mostly lower after a new report showed inflation picked up in June, a potential sign that companies are starting to pass tariff costs on to consumers.

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Leading Economies Must Work Together to Fix Imbalances, or Face Instability, Says BOE's Bailey

The U.S., China and other leading economies should work together to agree on a set of national policies that will help narrow the large imbalances that now threaten the global trade system, the Bank of England governor said.

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China Adds Export Controls to Protect EV Battery Technology

The new restrictions will limit exports of technologies crucial for producing EV batteries and processing their raw materials.

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Canada Inflation Accelerates in June

Inflation in Canada picked up in June despite only limited signs companies have begun passing tariff costs on to consumers, likely keeping the central bank sidelined for a third policy meeting in a row.

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Trump Reveals Indonesia Tariff Rate; EU Prepares Retaliatory Tariffs

The European Union could target Boeing and whiskey-maker Brown-Forman under its plans for retaliatory tariffs if the bloc can't reach a trade deal with the U.S.

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Europe's Factories Boosted by Tariff Frontrunning as August Deadline Looms

Industrial production increased 1.7% in May as the eurozone partly rebounded from a tariff-induced slump.

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OPEC Expects Progress on Trade, Holds Oil-Demand Outlook Steady

The Organization of the Petroleum Exporting Countries said it anticipates an easing of global trade tensions in the coming weeks and kept its oil-demand forecast unchanged as it continues to ramp up output.

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China Says Its Economy Held Up Under Trump Tariff Attack

The Chinese economy cooled in the second quarter, but growth was in line with expectations despite pressure from U.S. tariffs.

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Want to Trade Amazon on Crypto Exchange? The Price Might Be Off by 300%

Digital tokens tracking popular stocks such as Apple deviate wildly from underlying prices and raise concerns about a lack of regulatory oversight.

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Private Credit Can Bring Risk Along With Liquidity to Commercial Property Finance

Private-credit firms tend to accept much higher loan-to-value ratios than banks, raising default risks, Moody's says.

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Trump Bets Constantly Shifting Tariff Strategy Can Remake Global Trade

The president wants to keep other nations guessing, but his strategy faces risks.

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Japan Bond Yields' Surge Signals Growing Fiscal Fears as Election Looms

The 20-year yield on Japanese government bonds hit their highest level since November 1999.

(END) Dow Jones Newswires

July 15, 2025 17:15 ET (21:15 GMT)

TechnipFMC Gets Equinor Contract

By Katherine Hamilton

TechnipFMC received a contract worth between $75 million and $250 million from the Norwegian energy company Equinor.

The contract is for Equinor's Heidrun extension project in the Norwegian North Sea, Technip said Tuesday.

The project is intended to enhance the current infrastructure and extend the production lifecycle for the Heidrun platform. The contract follows a front end engineering and design study conducted by Technip, which provides technology to energy companies.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

July 15, 2025 16:53 ET (20:53 GMT)

Fire Injured Four Workers at Chevron's Pascagoula, Miss., Refinery -- OPIS

A fire that broke out Monday at the wastewater treatment area of Chevron's 375,200 b/d Pascagoula, Miss., refinery injured four contract workers, the company said Tuesday.

In a statement, a Chevron spokesman said three of the injured were transported to a hospital for further treatment.

The spokesman said the fire was quickly extinguished and there is no danger to the community. He added that the company is investigating the cause of the incident.

The Pascagoula refinery on the Mississippi Gulf Coast mainly produces gasoline, jet fuel and diesel. Other products include petroleum coke, sulfur as well as specialty products like benzene, propylene and motor oils for consumer and commercial uses.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

--Reporting by Frank Tang, ftang@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

(END) Dow Jones Newswires

July 15, 2025 16:41 ET (20:41 GMT)

CPS Technologies Secures Fourth Contract of the Year With U.S. Navy

By Natalie Weger

CPS Technologies secured a $140,000 Small Business Innovation Research contract, continuing its partnership with the U.S. Navy to support defense solutions.

The six-month Phase I contract is the technology and manufacturing company's fourth SBIR contract of the year, CPS said Tuesday. It can be extended for six months for an additional $100,000.

As part of the contract, CPS will evaluate vehicle components that can be redesigned with lightweight alternatives to improve fuel efficiency, buoyancy and operational range. The contract focuses on reducing the weight of the Amphibious Combat Vehicle, a transport platform used by the U.S. Marine Corps operations on both land and sea.

Write to Natalie Weger at natalie.weger@wsj.com

(END) Dow Jones Newswires

July 15, 2025 16:29 ET (20:29 GMT)

NASDAQ Composite Rises 0.18% to 20677.80, Another Record Close -- Data Talk

The NASDAQ Composite Index is up 37.47 points or 0.18% today to 20677.80

--A new record close

--8th record close of 2025

--Up for two consecutive trading days

--Up 92.27 points or 0.45% over the last two trading days

--Largest two-day point and percentage gain since Thursday, July 10, 2025

--Up 13 of the past 16 trading days

--Up 12.14% from the Election Day close of 18439.17 on Tuesday, Nov. 5, 2024

--Up 5.34% from the Inauguration Day close of 19630.20 on Monday, Jan 20, 2025

--Up 17.48% since tariffs were announced on Wednesday, April 2, 2025

--Up 35.43% from its 52-week low of 15267.91 hit Tuesday, April 8, 2025

--Rose 11.72% from 52 weeks ago

--Up 35.43% from its 2025 closing low of 15267.91 hit Tuesday, April 8, 2025

--Month-to-date it is up 1.51%

--Year-to-date it is up 1367.01 points or 7.08%

Data based on preliminary market closing values

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 16:28 ET (20:28 GMT)

S&P 500 Falls 0.40% to 6243.76 -- Data Talk

The S&P 500 Index is down 24.80 points or 0.40% today to 6243.76

--Largest one-day point and percentage decline since Monday, July 7, 2025

--Down two of the past three trading days

--Off 0.58% from its record close of 6280.46 hit Thursday, July 10, 2025

--Up 7.97% from the Election Day close of 5782.76 on Tuesday, Nov. 5, 2024

--Up 4.12% from the Inauguration Day close of 5996.66 on Monday, Jan 20, 2025

--Up 10.10% since tariffs were announced on Wednesday, April 2, 2025

--Today's closing value is the sixth highest this year

--Lowest closing value since Tuesday, July 8, 2025

--Off 0.58% from its 52-week high of 6280.46 hit Thursday, July 10, 2025

--Up 25.31% from its 52-week low of 4982.77 hit Tuesday, April 8, 2025

--Rose 10.17% from 52 weeks ago

--Off 0.58% from its 2025 closing high of 6280.46 hit Thursday, July 10, 2025

--Up 25.31% from its 2025 closing low of 4982.77 hit Tuesday, April 8, 2025

--Month-to-date it is up 0.63%

--Year-to-date it is up 362.13 points or 6.16%

Data based on preliminary market closing values

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 16:28 ET (20:28 GMT)

DJIA Falls 0.98% to 44023.29 -- Data Talk

The Dow Jones Industrial Average is down 436.36 points or 0.98% today to 44023.29

--Largest one-day point and percentage decline since Friday, June 13, 2025

--Down two of the past three trading days

--Off 2.20% from its record close of 45014.04 hit Wednesday, Dec. 4, 2024

--Up 4.27% from the Election Day close of 42221.88 on Tuesday, Nov. 5, 2024

--Up 1.23% from the Inauguration Day close of 43487.83 on Monday, Jan 20, 2025

--Up 4.26% since tariffs were announced on Wednesday, April 2, 2025

--Lowest closing value since Friday, June 27, 2025

--Off 2.20% from its 52-week high of 45014.04 hit Wednesday, Dec. 4, 2024

--Up 16.94% from its 52-week low of 37645.59 hit Tuesday, April 8, 2025

--Rose 7.49% from 52 weeks ago

--Off 1.91% from its 2025 closing high of 44882.13 hit Thursday, Jan 30, 2025

--Up 16.94% from its 2025 closing low of 37645.59 hit Tuesday, April 8, 2025

--Month-to-date it is down 0.16%

--Year-to-date it is up 1479.07 points or 3.48%

Data based on preliminary market closing values

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 16:28 ET (20:28 GMT)

CoinDesk Bitcoin Price Index Lost 2.94% to $116403.94 -- Data Talk

CoinDesk Bitcoin Price Index is down $3531.81 today or 2.94% to $116403.94

--Largest percentage decrease since June 22, 2025 when it dropped 3.27%

--Snaps a two day winning streak

--Up 7.99% month-to-date

--Up 24.61% year-to-date

--Down 5.49% from its all-time intraday high of $123165.67 on July 14, 2025

--Up 78.54% from 52 weeks ago (July 16, 2024), when it traded at $65196.34

--Down 5.49% from its 52-week intraday high of $123165.67 on July 14, 2025

--Up 134.67% from its 52-week intraday low of $49314.04 on Aug. 5, 2024

--Traded as low as $115726.94

--Down 3.51% at today's intraday low; Largest intraday % decrease since June 17, 2025 when it was down as much as 4.86%

Note: CoinDesk Bitcoin Price Index (XBX) at 4 p.m. ET close

Data compiled by Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 16:27 ET (20:27 GMT)

Dow Jones Top Energy Headlines at 4 PM ET: Oil Falls As Eventual Oversupply Concerns Weigh | OPEC ...

Oil Falls As Eventual Oversupply Concerns Weigh

Oil futures settled lower for a second straight session with the market continuing to brush off U.S. threats of sanctions against Russia and returning focus to the likelihood of oversupply after the high-demand summer season.

----

OPEC Expects Progress on Trade, Holds Oil-Demand Outlook Steady

The Organization of the Petroleum Exporting Countries said it anticipates an easing of global trade tensions in the coming weeks and kept its oil-demand forecast unchanged as it continues to ramp up output.

----

Energy & Utilities Roundup: Market Talk

Find insight on oil futures, Thames Water and more in the latest Market Talks covering energy and utilities.

----

BP Flags Hit From Lower Oil, Gas Prices but Expects Production Rebound

The energy major warned that lower oil and gas sales could drag on its results, though upstream production is expected to rise quarter-on-quarter.

----

Global Oil Supply to Rise Faster Than Expected, IEA Says

Supply is set to rise three times faster than demand this year, the International Energy Agency said, though seasonal factors are tightening the market in the short term.

----

Trump's Executive Order Forms New Clouds Over Renewable Energy

An executive order President Trump issued this week created fresh uncertainties for renewable-energy investors, including private-equity firms, only days after the passage of his tax-and-spending bill encouraged developers to start new projects within the next year.

----

Venezuela's Disputed Bond Complicates Citgo Sale

Holders of some $1.7 billion in Venezuelan bonds seek to derail Citgo's latest bidder.

----

Oil Age Is Far From Over, OPEC Says

The Organization of the Petroleum Exporting Countries doubled down on its view that global oil demand will keep rising through mid-century and that there is no peak in sight.

----

Orsted Secures $3 Billion Financing for Taiwan Wind Farm

The renewable-energy company said it has secured a project-finance package with 25 banks and five export credit agencies for the Greater Changhua 2 wind farm.

----

Tight Diesel Supplies Threaten To Raise Transport, Heating Costs

A shortage of diesel fuel threatens to raise transport and heating costs next winter.

----

U.S. Crude Oil Stockpiles Post Second Straight Weekly Build

U.S. crude oil inventories rose last week by 7.1 million barrels for a second consecutive build, while gasoline stocks fell as demand picked up ahead of the Independence Day holiday.

----

Exxon just warned Wall Street of billion-dollar profit hits. Here's what may cause it.

Exxon flags potential hit in profit just as OPEC and allies announce larger production increases.

(END) Dow Jones Newswires

July 15, 2025 16:15 ET (20:15 GMT)

Dow Jones Top Financial Services Headlines at 4 PM ET: JPMorgan Earnings Show Economy and Wall Street Are Still Chugging Along | Dimon ...

JPMorgan Earnings Show Economy and Wall Street Are Still Chugging Along

Jamie Dimon and America's big banks say the U.S. economy has remained resilient.

----

Dimon Defends Fed Independence After Trump Attacks

Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve's credibility.

----

Trump's 'Crypto Week' Set Back by House Vote

Lawmakers failed to clear the way for votes on cryptocurrency-related bills.

----

State Street Profit Falls as Costs Increase

State Street's second-quarter profit fell despite higher revenue, as increased costs offset a jump in fee revenue.

----

Wells Fargo Profit Rises After Lifting of Asset Cap

Wells Fargo said its profit rose in the second quarter, in which a years-long restriction on growth at the bank was lifted by the Federal Reserve.

----

BlackRock's Assets Surge Past $12 Trillion

Record-high U.S. stock prices and $68 billion of net client inflows boosted the investment firm.

----

Private Credit Can Bring Risk Along With Liquidity to Commercial Property Finance

Private-credit firms tend to accept much higher loan-to-value ratios than banks, raising default risks, Moody's says.

----

Bank of New York Mellon Earnings Boosted by Net Interest

Bank of New York Mellon logged higher-than-expected earnings and revenue in the second quarter, helped by its fast-growing net interest income.

----

Want to Trade Amazon on Crypto Exchange? The Price Might Be Off by 300%

Digital tokens tracking popular stocks such as Apple deviate wildly from underlying prices and raise concerns about a lack of regulatory oversight.

----

Financial Services Roundup: Market Talk

Find insight on Wells Fargo, Citigroup, cryptocurrency and more in the latest Market Talks covering financial services.

----

Crypto Assets Rally Ahead of Possible U.S. Legislation

Crypto is continuing its bull run at the start of what has been dubbed "Crypto Week" in Washington, where the House of Representatives will consider three bills with the potential to overhaul U.S. crypto policy.

----

Post-Crisis Rules to Keep Banks Safe Are on the Way Out

There is a new willingness in both the U.S. and the U.K. to rethink tough banking regulations-rules meant to stop the kind of financial crisis that enveloped the world nearly two decades ago.

----

Japan Bond Yields' Surge Signals Growing Fiscal Fears as Election Looms

The 20-year yield on Japanese government bonds hit their highest level since November 1999.

(END) Dow Jones Newswires

July 15, 2025 16:15 ET (20:15 GMT)

Leading Economies Must Work Together to Fix Imbalances, or Face Instability, Says BOE's Bailey

By Paul Hannon

The U.S., China and other leading economies should work together to agree on a set of national policies that will help narrow the large imbalances that now threaten the global trade system, Bank of England Governor Andrew Bailey said.

In an annual speech to bankers, Bailey said Tuesday that President Trump's tariffs represent "a generational change" in the global trade system that threatens to weaken economic growth.

"They are by no means the first such shifts, even if they are the most sudden and fundamental in the post-war era," he said.

The central banker said that while barriers to trade and subsidies to favored businesses contribute to the trade imbalances that have prompted Trump's tariffs, they are not the underlying causes.

Repeating a view long held by international economists, Bailey said that while China pursues policies that suppress consumer spending, the U.S. runs budget deficits that are too large to allow for a sustained narrowing of its trade deficits.

"The U.S. does need to explain how it can regard its internal imbalance as sustainable and its external imbalance as not so," he said. "And China needs to explain how it will tackle its persistently weak domestic consumption."

Bailey called on the International Monetary Fund to "be creative in deploying its convening power" in helping the U.S., China and other leading economies settle on "mutually-agreed policies which mitigate risks associated with excess imbalances."

The central banker referred to a 2006 initiative that saw the IMF consult with China, the eurozone, Japan, Saudi Arabia, and the U.S. on ways to narrow imbalances, yielding a number of policy pledges that have yet to be fulfilled. At the time, China said it would pursue measures to boost domestic demand, while the U.S. said it would cut government borrowing.

"There is merit here in reflecting on the lessons from the 2006 Multilateral Consultation exercise, and what could work better in future, " Bailey said.

The alternative to working out fixes together is a period of instability for the global economy as the U.S. sets the new terms for global trade, the central banker warned.

"How to reconcile an open world economy with national interests is a very old issue," he said. "The rules of the process have to be accepted and the imposition of rules by one player, however dominant, isn't a recipe for sustained stability."

Bailey warned that countries with large current account deficits tend to come under more pressure from financial markets than countries with surpluses because they rely on foreign financing that can be withdrawn or become more expensive.

And while the U.S. has long been spared those pressures because of the U.S. dollar's role as the leading reserve currency, it may not be so indefinitely, Bailey warned.

"This financial market pressure point is relevant notwithstanding the reserve currency argument, simply because it is very hard to judge the limits of sustainability," he said. "We have seen market disturbance this year. We have to be highly alert to financial stability risks--something that I can assure you we are following closely."

Write to Paul Hannon at paul.hannon@wsj.com

(END) Dow Jones Newswires

July 15, 2025 16:14 ET (20:14 GMT)

Wheat Futures Fall as U.S. Dollar Climbs -- Daily Grain Highlights

By Kirk Maltais

-- Wheat for September delivery fell 0.6% to $5.38 1/2 a bushel on the Chicago Board of Trade on Tuesday, tumbling for the seventh trading session out of the past eight while the U.S. dollar trends higher.

-- Soybeans for November delivery fell 0.5% to $10.02 1/2 a bushel.

-- Corn for December delivery rose 0.3% to $4.19 1/4 a bushel.

HIGHLIGHTS

Losing Streak: CBOT wheat futures were down throughout the day, making it the seventh lower close for wheat out of the past eight sessions.

Seasonality and a stronger U.S. dollar were both factors pressuring wheat, Virginia McGathey of McGathey Commodities said.

"Certainly a higher U.S. dollar is no friend to grain export sales," said McGathey. "Historically, the grains are usually depressed at this time of year anyway."

Cause and Effect: U.S. crop conditions showed improvement over the past week, the USDA said in its crop progress report.

Corn condition stayed at 74% good or excellent condition for the week ended July 13.

But soybean conditions rose four points to 70% good or excellent, and spring wheat climbed four points to 54% good or excellent.

The report confirms that the weather that has pressured grain futures this summer has been positive for growth, which analysts expect to continue.

"Weather conditions remain favorable for corn, soybean and spring wheat crops in the United States," Argus said in a note.

INSIGHT

Harvest Hiccup: Russia's wheat harvest is well behind the pace seen last year, SovEcon said in a note. Through July 11, Russia has harvested 11 million metric tons of wheat, which is down 56% compared to 2024's harvest of 24.8 million tons.

Yields of the harvest are lower so far, the firm said.

"Yields are significantly lower than last year because harvesting is currently most active in drought-hit regions of the South-Rostov and Krasnodar," SovEcon said.

Russia is the largest exporter of wheat in the world.

Tough Breaks: Bankruptcies among U.S. farmers this year have already outpaced total 2024 cases, according to data from the University of Arkansas System Division of Agriculture. 259 bankruptcies were reported through the first quarter of 2025, more than seen throughout all of 2024, the university said.

"We've already beat last year in terms of national filings," said Ryan Loy of the University of Arkansas. "Once you see this on a national level, it's a clear sign that financial pressures that we saw before in the 2018 and '19 are kind of re-emerging."

AHEAD

-- The EIA is scheduled to release its weekly ethanol production and stocks report at 10:30 a.m. EDT Wednesday.

-- The USDA is due to release its weekly export sales report at 8:30 a.m. EDT Thursday.

-- The CFTC is scheduled to release its weekly commitments of traders report at 3:30 p.m. EDT Friday.

Write to Kirk Maltais at kirk.maltais@wsj.com

(END) Dow Jones Newswires

July 15, 2025 15:53 ET (19:53 GMT)

ICE Review: Canola Swings Upward

WINNIPEG, Manitoba--Intercontinental Exchange canola futures climbed higher on Tuesday, getting a boost from gains in Chicago soyoil and European rapeseed.

Attempts to encourage more farmer selling was another reason for canola turning positive on Tuesday.

However, the Canadian oilseed's increases were tempered by declines in Chicago soybeans and soymeal along with Malaysian palm oil. Modest declines in crude oil also weighed on the vegetable oils.

Ongoing concerns about dry conditions remained in the background. Should the Prairies not receive timely rains, this year's crop could be further threatened by dryness.

The Canadian dollar slipped lower on Tuesday afternoon with the loonie at 72.90 U.S. cents compared to Monday's close of 73.03.

There were 27,846 contracts traded on Tuesday, compared to 29,028 on Monday. Spreading accounted for 10,356 contracts traded.

Prices are in Canadian dollars per metric tonne:

 
           Price      Change 
Nov       690.80     up 8.20 
Jan       698.90     up 8.00 
Mar       705.10     up 7.70 
May       710.00     up 6.90 

Spread trade prices are in Canadian dollars and the volume represents the number of spreads:

 
Months    Prices                            Volume 
Nov/Jan   7.90 under to 8.60 under           3,538 
Nov/Mar   14.10 under to 15.10 under            66 
Jan/Mar   6.00 under to 6.90 under           1,048 
Mar/May   4.70 under to 5.70 under             420 
May/Jul   3.30 under to 4.30 under             106 
 

Source: Commodity News Service Canada, news@marketsfarm.com

(END) Dow Jones Newswires

July 15, 2025 15:43 ET (19:43 GMT)

Dartmouth and New Hampshire Authority to Sell $455 Million in Bonds for School

By Josh Beckerman

Dartmouth College plans to sell $300 million of taxable bonds for general corporate purposes including capital expenses, while the New Hampshire Health and Education Facilities Authority intends to sell $155 million of tax-exempt bonds for capital projects at the school.

Dartmouth's $300 million of Series 2025 B bonds and NH HEFA's $155 million of Series 2025 A securities were both rated Aa1 by Moody's and AAA by S&P Global Ratings, according to documents posted on MuniOS.

The college's rolling 5-year capital plan totals $1.4 billion for fiscal 2026 to fiscal 2030. Major components include renewing and building residence halls, energy transition investments and Title IX projects.

According to NH HEFA's offering document, proceeds from the authority's bond sale will be used for work on existing and new student housing including at East Wheelock House and Fayerweather and other projects at Dartmouth's campus.

In fiscal 2024, Dartmouth's total operating revenue was $1.3 billion. For the 2024-2025 academic year, total enrollment was 6,938.

For Dartmouth's sale, Goldman Sachs is sole bookrunner and BofA Securities is co-manager. For the NH HEFA sale, BofA is senior manager and Goldman is co-senior manager.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

July 15, 2025 15:43 ET (19:43 GMT)

Blackstone to Invest $25 Billion for Constructing, Powering Pennsylvania Data Centers

By Nicholas G. Miller

Blackstone is investing more than $25 billion to build and operate data centers and natural gas generators in Pennsylvania.

The investment management company said Tuesday it has secured multiple sites in northeastern Pennsylvania to build data centers and has formed a joint venture with PPL Corporation, a leading utility in the state, to generate natural gas to power the sites.

Blackstone said Pennsylvania's significant natural gas reserves make it the ideal place to generate power for data centers.

PPL owns 51% of the joint venture for natural gas production with Blackstone owning the rest, PPL said Tuesday.

Construction on the projects is expected to begin by the end of 2028, Blackstone said.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

July 15, 2025 15:36 ET (19:36 GMT)

30-Year Treasury Yield Rises to 5.017% -- Data Talk

The 30-year yield rose 0.046 percentage point to 5.017% today. The price fell 22/32 to 95 28/32.

--Yield is up for three consecutive trading days

--Yield is up eight of the past 10 trading days

--Today's yield is the fourth highest this year

--Highest yield since Friday, May 23, 2025,

--Yield is off 0.072 percentage point from its 52-week high of 5.089% hit Wednesday, May 21, 2025

--Yield is up 1.081 percentage points from its 52-week low of 3.936% hit Monday, Sept. 16, 2024

--Yield is up 0.642 percentage point from 52 weeks ago

--Yield is up 0.626 percentage point from its 2025 closing low of 4.391% hit Friday, April 4, 2025

--Month-to-date the yield is up 0.242 percentage point

--Year-to-date the yield is up 0.232 percentage point

Data based on 3 p.m. ET values

Source: Tradeweb FTSE U.S. Treasury Closing Prices

(END) Dow Jones Newswires

July 15, 2025 15:32 ET (19:32 GMT)

10-Year Treasury Yield Rises to 4.487% -- Data Talk

The 10-year yield rose 0.061 percentage point to 4.487% today. The price fell 15/32 to 98 4/32.

--Yield is up for four consecutive trading days

--Longest streak of rising yields since Tuesday, July 8, 2025 when the yield rose for five straight trading days

--Yield is up nine of the past 10 trading days

--Highest yield since Friday, June 6, 2025,

--Yield is off 0.314 percentage point from its 52-week high of 4.802% hit Monday, Jan. 13, 2025

--Yield is up 0.866 percentage point from its 52-week low of 3.622% hit Monday, Sept. 16, 2024

--Yield is up 0.319 percentage point from 52 weeks ago

--Yield is up 0.495 percentage point from its 2025 closing low of 3.992% hit Friday, April 4, 2025

--Month-to-date the yield is up 0.261 percentage point

--Year-to-date the yield is down 0.089 percentage point

Data based on 3 p.m. ET values

Source: Tradeweb FTSE U.S. Treasury Closing Prices

(END) Dow Jones Newswires

July 15, 2025 15:32 ET (19:32 GMT)

2-Year Treasury Yield Rises to 3.956% -- Data Talk

The 2-year yield rose 0.060 percentage point to 3.956% today. The price fell 4/32 to 99 20/32.

--Largest one-day yield gain since Thursday, July 3, 2025

--Yield is up eight of the past 10 trading days

--Highest yield since Monday, June 16, 2025,

--Yield is off 0.565 percentage point from its 52-week high of 4.521% hit Monday, July 22, 2024

--Yield is up 0.407 percentage point from its 52-week low of 3.549% hit Tuesday, Sept. 24, 2024

--Yield is down 0.489 percentage point from 52 weeks ago

--Yield is off 0.443 percentage point from its 2025 closing high of 4.399

% hit Monday, Jan. 13, 2025

--Yield is up 0.337 percentage point from its 2025 closing low of 3.619% hit Wednesday, April 30, 2025

--Month-to-date the yield is up 0.235 percentage point

--Year-to-date the yield is down 0.293 percentage point

Data based on 3 p.m. ET values

Source: Tradeweb FTSE U.S. Treasury Closing Prices

(END) Dow Jones Newswires

July 15, 2025 15:32 ET (19:32 GMT)

Baidu Up Over 9%, on Pace for Largest Percent Increase Since February 2023 -- Data Talk

Baidu, Inc. Sponsored ADR Class A (BIDU) is currently at $93.89, up $8.02 or 9.34%

--Would be highest close since March 27, 2025, when it closed at $98.42

--On pace for largest percent increase since Feb. 7, 2023, when it rose 12.18%

--Snaps a four-day losing streak

--Up 9.48% month-to-date

--Up 11.36% year-to-date

--Down 72.38% from its all-time closing high of $339.91 on Feb. 19, 2021

--Up 0.17% from 52 weeks ago (July 16, 2024), when it closed at $93.73

--Down 18.45% from its 52-week closing high of $115.13 on Oct. 2, 2024

--Up 22.16% from its 52-week closing low of $76.86 on April 8, 2025

--Traded as high as $94.32; highest intraday level since May 21, 2025, when it hit $95.15

--Up 9.84% at today's intraday high; largest intraday percent increase since March 17, 2025, when it rose as much as 9.9%

All data as of 3:10:13 PM ET

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 15:27 ET (19:27 GMT)

Dow Jones Top Company Headlines at 3 PM ET: JPMorgan Earnings Show Economy and Wall Street Are Still Chugging Along | Tesla's ...

JPMorgan Earnings Show Economy and Wall Street Are Still Chugging Along

Jamie Dimon and America's big banks say the U.S. economy has remained resilient.

----

Tesla's Top North American Sales Executive Leaves Amid Slump

Troy Jones's exit after 15 years is the latest departure at Elon Musk's electric-car company.

----

Apple Commits $500 Million for Rare-Earth Magnets From U.S. Supplier

MP Materials will supply Apple with magnets it produces at a Texas facility, expanding Apple's U.S. supply chain at a time when President Trump has pressured Apple to do so.

----

Renault Cuts Guidance in Tough Auto Market, Names Interim CEO

Renault slashed its financial targets for the year, citing a worsening automotive market as the group faces stiff competition from rivals, and elevated finance chief Duncan Minto to interim CEO.

----

Citigroup's Profit Rises on Revenue From Trading, Investment Bank

The bank reported a second-quarter profit of $4.02 billion, or $1.96 a share, compared with $3.22 billion, or $1.52 a share, in the year-ago period. Analysts polled by FactSet expected $1.61 per share in earnings.

----

Rio Tinto Names Iron Ore Chief Simon Trott as CEO

The miner opted for Trott and his experience running its most profitable operations as the company seeks to strengthen its growing business.

----

Wells Fargo Profit Rises After Lifting of Asset Cap

Wells Fargo said its profit rose in the second quarter, in which a years-long restriction on growth at the bank was lifted by the Federal Reserve.

----

Albertsons Revenue Climbs on Pharmacy, Digital Sales

Albertsons logged a slightly lower profit but higher revenue in its fiscal first quarter thanks to growth in its pharmacy division and a jump in digital sales.

----

BlackRock's Assets Surge Past $12 Trillion

Record-high U.S. stock prices and $68 billion of net client inflows boosted the investment firm.

----

State Street Profit Falls as Costs Increase

State Street's second-quarter profit fell despite higher revenue, as increased costs offset a jump in fee revenue.

----

Bank of New York Mellon Earnings Boosted by Net Interest

Bank of New York Mellon logged higher-than-expected earnings and revenue in the second quarter, helped by its fast-growing net interest income.

----

Dave & Buster's Entertainment Names Yum Brands Executive as CEO

Dave & Buster's Entertainment named Tarun Lal as chief executive officer, bringing in a fast-food restaurant executive to boost the arcade-restaurant operator's performance.

----

Nvidia Can Sell AI Chip to China Again After CEO Meets Trump

The U.S. will grant licenses for the H20 chip after it had announced restrictions in April.

----

Volvo Car to Take $1.2 Billion Hit From Tariffs, EV Launch Delays

The carmaker has been grappling with tariff uncertainty, muted electric-vehicle demand and intensifying competition in China.

----

Waters Corp. Deal for Becton Dickinson Unit a Long-Term Play With Some Risks

A deal for Becton Dickinson's biosciences and diagnostic solutions unit puts Waters Corp. in a greater position to compete with larger life-science companies, but integration risks can't be discounted, analysts say.

(END) Dow Jones Newswires

July 15, 2025 15:15 ET (19:15 GMT)

Dow Jones Top Markets Headlines at 3 PM ET: Dimon Defends Fed Independence After Trump Attacks | Inflation ...

Dimon Defends Fed Independence After Trump Attacks

Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve's credibility.

----

Inflation Picks Up to 2.7% as Tariffs Start to Seep Into Prices

Economists are split on how much tariffs will affect prices in the coming months, as Trump's tariff policy remains uncertain.

----

Canada PM Carney Signals U.S. Tariffs May Be Here to Stay

The Canadian prime minister said it may not be possible to escape U.S. tariffs even with a bilateral agreement to resolve the current tariff row.

----

U.S. Stocks Mixed as Inflation Data Meets Forecasts

Stocks were mixed, with the Dow industrials falling, the S&P 500 nearly flat and the Nasdaq Composite hitting a fresh high amid a rally in chip shares.

----

China Adds Export Controls to Protect EV Battery Technology

The new restrictions will limit exports of technologies crucial for producing EV batteries and processing their raw materials.

----

Canada Inflation Accelerates in June

Inflation in Canada picked up in June despite only limited signs companies have begun passing tariff costs on to consumers, likely keeping the central bank sidelined for a third policy meeting in a row.

----

Europe's Factories Boosted by Tariff Frontrunning as August Deadline Looms

Industrial production increased 1.7% in May as the eurozone partly rebounded from a tariff-induced slump.

----

OPEC Expects Progress on Trade, Holds Oil-Demand Outlook Steady

The Organization of the Petroleum Exporting Countries said it anticipates an easing of global trade tensions in the coming weeks and kept its oil-demand forecast unchanged as it continues to ramp up output.

----

China Says Its Economy Held Up Under Trump Tariff Attack

The Chinese economy cooled in the second quarter, but growth was in line with expectations despite pressure from U.S. tariffs.

----

Want to Trade Amazon on Crypto Exchange? The Price Might Be Off by 300%

Digital tokens tracking popular stocks such as Apple deviate wildly from underlying prices and raise concerns about a lack of regulatory oversight.

----

Private Credit Can Bring Risk Along With Liquidity to Commercial Property Finance

Private-credit firms tend to accept much higher loan-to-value ratios than banks, raising default risks, Moody's says.

----

Trump Bets Constantly Shifting Tariff Strategy Can Remake Global Trade

The president wants to keep other nations guessing, but his strategy faces risks.

----

Japan Bond Yields' Surge Signals Growing Fiscal Fears as Election Looms

The 20-year yield on Japanese government bonds hit their highest level since November 1999.

----

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached

Aircraft and booze are among imports that would be targeted as EU debates how to respond to President Trump's latest trade threats.

----

Post-Crisis Rules to Keep Banks Safe Are on the Way Out

There is a new willingness in both the U.S. and the U.K. to rethink tough banking regulations-rules meant to stop the kind of financial crisis that enveloped the world nearly two decades ago.

(END) Dow Jones Newswires

July 15, 2025 15:15 ET (19:15 GMT)

Front Month ICE Brent Crude Fell 0.72% to Settle at $68.71 -- Data Talk

Front Month ICE Brent Crude for Sept. delivery lost 50 cents per barrel, or 0.72% to $68.71 today

--Down for two consecutive sessions

--Down $1.65 or 2.35% over the last two sessions

--Largest two day dollar and percentage decline since Wednesday, June 25, 2025

--Down three of the past four sessions

--Off 19.27% from its 52-week high of $85.11 hit Thursday, July 18, 2024

--Up 14.08% from its 52-week low of $60.23 hit Monday, May 5, 2025

--Down 17.94% from 52 weeks ago

--Off 16.24% from its 2025 settlement high of $82.03 hit Wednesday, Jan. 15, 2025

--Up 14.08% from its 2025 settlement low of $60.23 hit Monday, May 5, 2025

--Off 52.96% from its record high of $146.08 hit Thursday, July 3, 2008

--Month-to-date it is up 1.63%

--Year-to-date it is down $5.93 or 7.94%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 15:13 ET (19:13 GMT)

Cigna on Pace for Longest Losing Streak Since July 2010 -- Data Talk

Cigna Group (CI) is currently at $301.67, down $1.39 or 0.46%

--Would be lowest close since Feb. 24, 2025, when it closed at $301.02

--Currently down nine consecutive days; down 9.79% over this period

--Longest losing streak since July 2, 2010, when it fell for nine straight trading days

--Worst nine-day stretch since the nine days ending May 13, 2025, when it fell 11.22%

--Down 8.75% month-to-date

--Up 9.24% year-to-date

--Down 17.77% from its all-time closing high of $366.85 on Sept. 16, 2024

--Down 11.20% from 52 weeks ago (July 16, 2024), when it closed at $339.71

--Down 17.77% from its 52-week closing high of $366.85 on Sept. 16, 2024

--Up 13.58% from its 52-week closing low of $265.59 on Dec. 17, 2024

--Traded as low as $299.54; lowest intraday level since May 15, 2025, when it hit $296.26

--Down 1.16% at today's intraday low

All data as of 2:49:35 PM ET

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 15:06 ET (19:06 GMT)

Front Month Nymex ULSD Rose 0.64% to Settle at $2.4052 -- Data Talk

Front Month Nymex ULSD for Aug. delivery gained 1.54 cents per gallon, or 0.64% to $2.4052 today

--Up two of the past three sessions

--Off 8.23% from its 52-week high of $2.621 hit Friday, Jan. 17, 2025

--Up 21.81% from its 52-week low of $1.9745 hit Monday, May 5, 2025

--Down 2.58% from 52 weeks ago

--Off 8.23% from its 2025 settlement high of $2.621 hit Friday, Jan. 17, 2025

--Up 21.81% from its 2025 settlement low of $1.9745 hit Monday, May 5, 2025

--Off 53.16% from its record high of $5.1354 hit Thursday, April 28, 2022

--Month-to-date it is up 2.53%

--Year-to-date it is up 8.46 cents or 3.65%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 14:58 ET (18:58 GMT)

Front Month Nymex RBOB Gasoline Rose 0.19% to Settle at $2.1696 -- Data Talk

Front Month Nymex RBOB Gasoline for Aug. delivery gained 0.42 cent per gallon, or 0.19% to $2.1696 today

--Up seven of the past 10 sessions

--Off 13.78% from its 52-week high of $2.5164 hit Thursday, July 18, 2024

--Up 16.02% from its 52-week low of $1.87 hit Tuesday, Sept. 10, 2024

--Down 12.43% from 52 weeks ago

--Off 6.92% from its 2025 settlement high of $2.331 hit Wednesday, April 2, 2025

--Up 11.32% from its 2025 settlement low of $1.9489 hit Wednesday, Feb. 26, 2025

--Off 49.26% from its record high of $4.2762 hit Thursday, June 9, 2022

--Month-to-date it is up 4.32%

--Year-to-date it is up 16.81 cents or 8.40%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 14:58 ET (18:58 GMT)

Front Month Nymex Crude Fell 0.69% to Settle at $66.52 -- Data Talk

Front Month Nymex Crude for Aug. delivery lost 46 cents per barrel, or 0.69% to $66.52 today

--Down for two consecutive sessions

--Down $1.93 or 2.82% over the last two sessions

--Largest two day dollar and percentage decline since Wednesday, June 25, 2025

--Down three of the past four sessions

--Lowest settlement value since Tuesday, July 1, 2025

--Off 19.71% from its 52-week high of $82.85 hit Wednesday, July 17, 2024

--Up 16.44% from its 52-week low of $57.13 hit Monday, May 5, 2025

--Down 17.63% from 52 weeks ago

--Off 16.89% from its 2025 settlement high of $80.04 hit Wednesday, Jan. 15, 2025

--Up 16.44% from its 2025 settlement low of $57.13 hit Monday, May 5, 2025

--Off 54.22% from its record high of $145.29 hit Thursday, July 3, 2008

--Month-to-date it is up 2.17%

--Year-to-date it is down $5.20 or 7.25%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 14:58 ET (18:58 GMT)

Front Month Nymex Natural Gas Rose 1.64% to Settle at $3.5230 -- Data Talk

Front Month Nymex Natural Gas for Aug. delivery gained 5.70 cents per million British thermal units, or 1.64% to $3.5230 per million British thermal units today

--Up for two consecutive sessions

--Up 20.90 cents or 6.31% over the last two sessions

--Largest two day dollar and percentage gain since Friday, June 27, 2025

--Up three of the past four sessions

--Highest settlement value since Friday, June 27, 2025

--Off 21.55% from its 52-week high of $4.491 hit Monday, March 10, 2025

--Up 85.03% from its 52-week low of $1.904 hit Tuesday, Aug. 27, 2024

--Rose 61.01% from 52 weeks ago

--Off 21.55% from its 2025 settlement high of $4.491 hit Monday, March 10, 2025

--Up 20.24% from its 2025 settlement low of $2.93 hit Thursday, April 24, 2025

--Off 77.09% from its record high of $15.378 hit Tuesday, Dec. 13, 2005

--Month-to-date it is up 1.94%

--Year-to-date it is down 11.00 cents or 3.03%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data

(END) Dow Jones Newswires

July 15, 2025 14:57 ET (18:57 GMT)

Comex Copper Settles 0.56% Higher at $5.5460 -- Data Talk

Front Month Comex Copper for July delivery gained 3.10 cents per pound, or 0.56% to $5.5460 today

--Fourth highest close in history

--Up three of the past four sessions

--Today's settlement value is the fourth highest this year

--Off 1.75% from its 52-week high of $5.645 hit Tuesday, July 8, 2025

--Up 40.85% from its 52-week low of $3.9375 hit Wednesday, Aug. 7, 2024

--Rose 24.80% from 52 weeks ago

--Off 1.75% from its 2025 settlement high of $5.645 hit Tuesday, July 8, 2025

--Up 39.05% from its 2025 settlement low of $3.9885 hit Thursday, Jan. 2, 2025

--Off 1.75% from its record high of $5.645 hit Tuesday, July 8, 2025

--Month-to-date it is up 10.26%

--Year-to-date it is up $1.56 or 39.14%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 13:51 ET (17:51 GMT)

Comex Silver Settles 1.63% Lower at $37.834 -- Data Talk

Front Month Comex Silver for July delivery lost 62.80 cents per troy ounce, or 1.63% to $37.834 today

--Largest one day dollar and percentage decline since Friday, June 20, 2025

--Down for two consecutive sessions

--Down 84.20 cents or 2.18% over the last two sessions

--Down five of the past seven sessions

--Today's settlement value is the third highest this year

--Off 2.18% from its 52-week high of $38.676 hit Friday, July 11, 2025

--Up 41.01% from its 52-week low of $26.83 hit Wednesday, Aug. 7, 2024

--Rose 21.28% from 52 weeks ago

--Off 2.18% from its 2025 settlement high of $38.676 hit Friday, July 11, 2025

--Up 29.94% from its 2025 settlement low of $29.116 hit Friday, April 4, 2025

--Off 22.31% from its record high of $48.70 hit Thursday, Jan. 17, 1980

--Month-to-date it is up 5.53%

--Year-to-date it is up $8.894 or 30.73%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 13:51 ET (17:51 GMT)

Comex Gold Settles 0.65% Lower at $3329.80 -- Data Talk

Front Month Comex Gold for July delivery lost $21.70 per troy ounce, or 0.65%(rounded) to $3329.80 today

--Largest one day dollar and percentage decline since Tuesday, July 8, 2025

--Down for two consecutive sessions

--Down $26.20 or 0.78% over the last two sessions

--Off 2.96% from its 52-week high of $3431.20 hit Friday, June 13, 2025

--Up 41.58% from its 52-week low of $2351.90 hit Thursday, July 25, 2024

--Rose 35.23% from 52 weeks ago

--Off 2.96% from its 2025 settlement high of $3431.20 hit Friday, June 13, 2025

--Up 26.21% from its 2025 settlement low of $2638.40 hit Monday, Jan. 6, 2025

--Off 2.96% from its record high of $3431.20 hit Friday, June 13, 2025

--Month-to-date it is up 1.07%

--Year-to-date it is up $700.60 or 26.65%

All prices are calculated based on the settlement price of the current front month contract.

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 13:51 ET (17:51 GMT)

Duke Energy Raises Quarterly Dividend

By Katherine Hamilton

Duke Energy is raising its quarterly dividend by two cents to $1.065 a share.

The new payout, equal to $4.26 a year, represents an annual yield of about 3.6% based on Monday's closing price of $117.93.

The dividend will be payable on Sept. 16 to shareholders of record on Aug. 15, the Charlotte, N.C., energy company said Tuesday.

Duke also declared a cash dividend on its Series A preferred stock of $359.38 a share, which is equivalent to about 36 cents per depositary share.

Duke has paid a dividend on its common stock for 99 consecutive years, it said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

July 15, 2025 13:35 ET (17:35 GMT)

Glendale, Calif. Sell $167 Million of Bonds for Electric Utility Upgrades

By Patrick Sheridan

The City of Glendale, Calif., is planning to issue approximately $167 million of municipal bonds to replace aging power plant equipment.

The Electric Revenue Bonds 2025 offering includes serial and two term bonds, according to a preliminary official statement posted Monday on MuniOS. The securities will be offered in a competitive sale. Bids can be submitted through Ipreo's BiDCOMP/Parity system starting at 11 a.m. ET on July 15, according to the sales notice.

Interest will be payable starting on Feb. 1 and again on Aug. 1.

The bonds are an obligation solely payable from the Electric Works Revenue Fund, and certain other funds as provided for in the trust indenture.

Proceeds will be used to further develop and construct the Grayson Repowering Project, which consists of a combination of natural gas-powered electric generating facilities that will replace certain portions of the existing Grayson Power Plant. Money will also be used for the acquisition and construction of the Scholl Canyon Landfill Biogas Renewable Generation Project, consisting of the installation of four gas engine generators, along with a landfill gas cleanup system.

Glendale comprises approximately 31 square miles in Los Angeles County and had a population of 191,586 as of July 1, 2024. The system supplies electricity to virtually all users within the city limits, and had about 91,000 customers for the fiscal year ended June 30, 2024.

Moody's and Fitch Ratings are expected to assign Aa3 and A+ to the bonds.

Write to Patrick Sheridan at patrick.sheridan@wsj.com

(END) Dow Jones Newswires

July 15, 2025 13:20 ET (17:20 GMT)

Analysts See U.S. Crude Oil Inventories Unchanged

By Anthony Harrup

U.S. crude oil inventories are expected to hold steady after posting strong builds the previous two weeks, according to a survey by The Wall Street Journal.

Commercial crude oil stocks are seen unchanged at 426 million barrels in the week ended July 11, according to the average estimate of 10 analysts and traders. Six expect an increase and four predict a decline. Expectations range from a stock build of 3.3 million barrels to a draw of 4.7 million barrels.

Gasoline inventories are expected to have decreased by 1.1 million barrels to 228.4 million barrels, with estimates ranging from a rise of 1.4 million barrels to a drop of 2.3 million barrels.

Stocks of distillate fuels, mostly diesel, are seen slipping by 100,000 barrels to 102.7 million barrels. Forecasts range from a build of 2.6 million barrels to a draw of 3 million barrels.

Refinery capacity use likely slipped by 0.3 of a percentage point to 94.4%, according to the survey, with estimates ranging from a decline of 1 percentage point to a rise of 0.4 of a percentage point. Two analysts didn't forecast refinery runs.

The U.S. Energy Information Administration is scheduled for release the inventory data on Wednesday at 10:30 a.m. EDT.

 
                                   Crude   Gasoline  Distillates Refinery Use 
   Again Capital                     1.9      -2.3      -2.8      -0.9 
   Commodity Research Group         -2.0      -0.3       0.7       0.4 
   Confluence Investment Management -0.5      -1.0       1.5      -1.0 
   Rystad Energy                    -4.7      -0.8      -0.3      -0.1 
   Excel Futures                     3.3      -1.8      -1.1      -0.3 
   Spartan Capital Securities        0.1      -1.6       2.6       n/f 
   Mizuho                            2.0      -1.5      -1.5      -0.5 
   Price Futures Group              -2.0      -2.0      -3.0      unch 
   Ritterbusch and Associates        1.0       1.4       1.1      -0.1 
   Tradition Energy                  0.7      -1.0       1.5       n/f 
 
   AVERAGE                           unch     -1.1      -0.1      -0.3 
 

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

n/f = no forecast

unch = unchanged

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

July 15, 2025 13:19 ET (17:19 GMT)

Dow Jones Top Company Headlines at 1 PM ET: Apple Commits $500 Million for Rare-Earth Magnets From U.S. Supplier | JPMorgan ...

Apple Commits $500 Million for Rare-Earth Magnets From U.S. Supplier

MP Materials will supply Apple with magnets it produces at a Texas facility, expanding Apple's U.S. supply chain at a time when President Trump has pressured Apple to do so.

----

JPMorgan Earnings Show Economy and Wall Street Are Still Chugging Along

Jamie Dimon and America's big banks say the U.S. economy has remained resilient.

----

Renault Cuts Guidance, Names Interim CEO

Renault slashed its financial targets for the year due to a worsening automotive market and stiff competition and appointed industry veteran Duncan Minto as interim chief executive.

----

Citigroup's Profit Rises on Revenue From Trading, Investment Bank

The bank reported a second-quarter profit of $4.02 billion, or $1.96 a share, compared with $3.22 billion, or $1.52 a share, in the year-ago period. Analysts polled by FactSet expected $1.61 per share in earnings.

----

Tesla's Top North American Sales Executive Leaves Amid Slump

Troy Jones's exit after 15 years is the latest departure at Elon Musk's electric-car company.

----

Rio Tinto Names Iron Ore Chief Simon Trott as CEO

The miner opted for Trott and his experience running its most profitable operations as the company seeks to strengthen its growing business.

----

Wells Fargo Profit Rises After Lifting of Asset Cap

Wells Fargo said its profit rose in the second quarter, in which a years-long restriction on growth at the bank was lifted by the Federal Reserve.

----

Albertsons Revenue Climbs on Pharmacy, Digital Sales

Albertsons logged a slightly lower profit but higher revenue in its fiscal first quarter thanks to growth in its pharmacy division and a jump in digital sales.

----

BlackRock's Assets Surge Past $12 Trillion

Record-high U.S. stock prices and $68 billion of net client inflows boosted the investment firm.

----

State Street Profit Falls as Costs Increase

State Street's second-quarter profit fell despite higher revenue, as increased costs offset a jump in fee revenue.

----

Bank of New York Mellon Earnings Boosted by Net Interest

Bank of New York Mellon logged higher-than-expected earnings and revenue in the second quarter, helped by its fast-growing net interest income.

----

Dave & Buster's Entertainment Names Yum Brands Executive as CEO

Dave & Buster's Entertainment named Tarun Lal as chief executive officer, bringing in a fast-food restaurant executive to boost the arcade-restaurant operator's performance.

----

Why AI Darling CoreWeave's Bid for Its Own Landlord Spooked Investors

CoreWeave and Core Scientific are both down sharply since agreeing to merge.

----

Nvidia Can Sell AI Chip to China Again After CEO Meets Trump

The U.S. will grant licenses for the H20 chip after it had announced restrictions in April.

----

Volvo Car to Take $1.2 Billion Hit From Tariffs, EV Launch Delays

The carmaker has been grappling with tariff uncertainty, muted electric-vehicle demand and intensifying competition in China.

(END) Dow Jones Newswires

July 15, 2025 13:15 ET (17:15 GMT)

Dow Jones Top Markets Headlines at 1 PM ET: Dimon Defends Fed Independence After Trump Attacks | Inflation ...

Dimon Defends Fed Independence After Trump Attacks

Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve's credibility.

----

Inflation Picks Up to 2.7% as Tariffs Start to Seep Into Prices

Economists are split on how much tariffs will affect prices in the coming months, as Trump's tariff policy remains uncertain.

----

Canada PM Carney Signals U.S. Tariffs May Be Here to Stay

The Canadian prime minister said it may not be possible to escape U.S. tariffs even with a bilateral agreement to resolve the current tariff row.

----

Stocks Mixed as Inflation Data Meets Forecasts

Stocks were mixed, with the Dow industrials falling, the S&P nearly flat and the Nasdaq Composite hitting a fresh high amid a rally in chip shares.

----

China Adds Export Controls to Protect EV Battery Technology

The new restrictions will limit exports of technologies crucial for producing EV batteries and processing their raw materials.

----

Canada Inflation Accelerates in June

Inflation in Canada picked up in June despite only limited signs companies have begun passing tariff costs on to consumers, likely keeping the central bank sidelined for a third policy meeting in a row.

----

Europe's Factories Boosted by Tariff Frontrunning as August Deadline Looms

Industrial production increased 1.7% in May as the eurozone partly rebounded from a tariff-induced slump.

----

OPEC Expects Progress on Trade, Holds Oil-Demand Outlook Steady

The Organization of the Petroleum Exporting Countries said it anticipates an easing of global trade tensions in the coming weeks and kept its oil-demand forecast unchanged as it continues to ramp up output.

----

China Says Its Economy Held Up Under Trump Tariff Attack

The Chinese economy cooled in the second quarter, but growth was in line with expectations despite pressure from U.S. tariffs.

----

Want to Trade Amazon on Crypto Exchange? The Price Might Be Off by 300%

Digital tokens tracking popular stocks such as Apple deviate wildly from underlying prices and raise concerns about a lack of regulatory oversight.

----

Private Credit Can Bring Risk Along With Liquidity to Commercial Property Finance

Private-credit firms tend to accept much higher loan-to-value ratios than banks, raising default risks, Moody's says.

----

Trump Bets Constantly Shifting Tariff Strategy Can Remake Global Trade

The president wants to keep other nations guessing, but his strategy faces risks.

----

Japan Bond Yields' Surge Signals Growing Fiscal Fears as Election Looms

The 20-year yield on Japanese government bonds hit their highest level since November 1999.

----

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached

Aircraft and booze are among imports that would be targeted as EU debates how to respond to President Trump's latest trade threats.

----

Post-Crisis Rules to Keep Banks Safe Are on the Way Out

There is a new willingness in both the U.S. and the U.K. to rethink tough banking regulations-rules meant to stop the kind of financial crisis that enveloped the world nearly two decades ago.

(END) Dow Jones Newswires

July 15, 2025 13:15 ET (17:15 GMT)

Canada PM Carney Signals U.S. Tariffs May Be Here to Stay -- 2nd Update

By Paul Vieira

OTTAWA--Canadian Prime Minister Mark Carney said Tuesday it may not be possible to escape U.S. tariffs even with a bilateral agreement to resolve the current tariff row.

"There is not a lot of evidence right now, with regards to negotiations, of any country or jurisdiction" escaping U.S. tariffs, Carney told reporters in French ahead of a cabinet meeting in the capital.

Carney had entered talks with President Trump toward a new economic-and-security pact between the North American neighbors that included lifting all tariffs on Canadian imports. This marks the first time that he has raised the possibility that U.S. tariffs may remain in place.

Some trade analysts and lawyers had previously said they didn't believe Canada would avoid tariffs as part of any deal negotiated with Trump. Currently, the U.S. applies a 25% tariffs on Canadian imports that don't comply with the terms of the U.S.-Mexico-Canada trade treaty, also known as USMCA. Trade analysts, such as Columbus, Ohio-based trade lawyer Dan Ujczo, said roughly 80% of Canadian imports comply with USMCA and are entering the U.S. tariff free.

Canadian goods also are subject to Trump's sectoral tariffs, such as 50% levies on steel and aluminum, and a 25% tariff on Canadian-assembled vehicles. Canada is the biggest foreign supplier to the U.S. of steel and aluminum. Trump also plans to impose a 50% duty on copper, of which Canada is a major foreign supplier.

Canada's insistence on fully tariff-free trade with the U.S., especially in autos and steel, "isn't going to get [Canada] very far towards a trade deal now, and could even generate a backlash from the president," said Avery Shenfeld, chief economist at CIBC Capital Markets, in a note to clients last week.

Trump has given Canada until Aug. 1 to reach an agreement with the White House on trade, or else imports not compliant with USMCA face a higher 35% levy.

Carney told reporters he expects talks between the U.S. and Canada to intensify in the coming weeks ahead of the Aug. 1 deadline. "We need to recognize that the commercial landscape globally has changed," said Carney, who won an election in late April on the premise he had the policymaking experience and economic acumen to best deal with Trump.

The U.S. and Canada have one of the world's biggest trading relationships, with nearly $1 trillion of trade between the two nations annually, according to the U.S. Trade Representative's office.

The Canadian economy has struggled amid heightened trade uncertainty, with both consumer demand and business investment weakening or turning negative. Forecasters anticipate the economy either stalled or contracted in the second quarter. The Bank of Canada has cut interest rates to help spur demand. However, the central bank has held rates steady since April, in part because of stubbornly high underlying inflation.

Economists on Tuesday, in response to inflation data for June, said retaliatory tariffs against some U.S. goods are keeping core inflation -- which strips out volatile items like food and energy -- elevated, near or at the 3% level. Canada has imposed 25% tariffs on more than $40 billion of imports from the U.S.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

July 15, 2025 13:09 ET (17:09 GMT)

EURO STOXX 50 Index Ends 0.31% Lower at 5354.17 -- Data Talk

The EURO STOXX 50 Index is down 16.68 points or 0.31% today to 5354.17

--Down for four consecutive trading days

--Down 91.48 points or 1.68% over the last four trading days

--Largest four day point and percentage decline since Friday, June 20, 2025

--Longest losing streak since Friday, June 13, 2025 when the market fell for five straight trading days

--Off 3.37% from its record close of 5540.69 hit Monday, March 3, 2025

--Lowest closing value since Monday, July 7, 2025

--Off 3.37% from its 52-week high of 5540.69 hit Monday, March 3, 2025

--Up 17.12% from its 52-week low of 4571.60 hit Monday, Aug. 5, 2024

--Rose 8.21% from 52 weeks ago

--Off 3.37% from its 2025 closing high of 5540.69 hit Monday, March 3, 2025

--Up 15.84% from its 2025 closing low of 4622.14 hit Wednesday, April 9, 2025

--Month-to-date it is up 0.96%

--Year-to-date it is up 458.19 points or 9.36%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 12:48 ET (16:48 GMT)

STOXX Europe 50 Index Ends 0.40% Lower at 4503.03 -- Data Talk

The STOXX Europe 50 Index is down 18.14 points or 0.40% today to 4503.03

--Down two of the past three trading days

--Off 13.12% from its record close of 5183.24 hit Tuesday, May 2, 2000

--Lowest closing value since Monday, July 7, 2025

--Off 6.38% from its 52-week high of 4809.98 hit Monday, March 3, 2025

--Up 13.48% from its 52-week low of 3968.17 hit Wednesday, April 9, 2025

--Down 0.07% from 52 weeks ago

--Off 6.38% from its 2025 closing high of 4809.98 hit Monday, March 3, 2025

--Up 13.48% from its 2025 closing low of 3968.17 hit Wednesday, April 9, 2025

--Month-to-date it is up 1.10%

--Year-to-date it is up 194.40 points or 4.51%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 12:48 ET (16:48 GMT)

CAC 40 Index Ends 0.54% Lower at 7766.21 -- Data Talk

The CAC 40 Index is down 41.96 points or 0.54% today to 7766.21

--Down for three consecutive trading days

--Down 136.04 points or 1.72% over the last three trading days

--Largest three day point and percentage decline since Thursday, June 19, 2025

--Off 5.75% from its record close of 8239.99 hit Wednesday, May 15, 2024

--Lowest closing value since Monday, July 7, 2025

--Off 5.37% from its 52-week high of 8206.56 hit Tuesday, Feb. 18, 2025

--Up 13.16% from its 52-week low of 6863.02 hit Wednesday, April 9, 2025

--Rose 2.46% from 52 weeks ago

--Off 5.37% from its 2025 closing high of 8206.56 hit Tuesday, Feb. 18, 2025

--Up 13.16% from its 2025 closing low of 6863.02 hit Wednesday, April 9, 2025

--Month-to-date it is up 1.31%

--Year-to-date it is up 385.47 points or 5.22%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 12:48 ET (16:48 GMT)

DAX Ends 0.42% Lower at 24060.29 -- Data Talk

The DAX is down 100.35 points or 0.42% today to 24060.29

--Down for four consecutive trading days

--Down 489.27 points or 1.99% over the last four trading days

--Largest four day point and percentage decline since Tuesday, June 17, 2025

--Longest losing streak since Friday, June 13, 2025 when the market fell for six straight trading days

--Off 1.99% from its record close of 24549.56 hit Wednesday, July 9, 2025

--Lowest closing value since Friday, July 4, 2025

--Off 1.99% from its 52-week high of 24549.56 hit Wednesday, July 9, 2025

--Up 38.76% from its 52-week low of 17339.00 hit Monday, Aug. 5, 2024

--Rose 29.93% from 52 weeks ago

--Off 1.99% from its 2025 closing high of 24549.56 hit Wednesday, July 9, 2025

--Up 22.31% from its 2025 closing low of 19670.88 hit Wednesday, April 9, 2025

--Month-to-date it is up 0.63%

--Year-to-date it is up 4151.15 points or 20.85%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 12:48 ET (16:48 GMT)

FTSE 100 Index Ends 0.66% Lower at 8938.32 -- Data Talk

The FTSE 100 Index is down 59.74 points or 0.66% today to 8938.32

--Fourth highest close in history

--Largest one day point and percentage decline since Wednesday, April 9, 2025

--Down two of the past three trading days

--Off 0.66% from its record close of 8998.06 hit Monday, July 14, 2025

--Up 41.03% since the pre-Brexit vote level of 6338.10 hit Thursday, June 23, 2016

--Today's closing value is the fourth highest this year

--Off 0.66% from its 52-week high of 8998.06 hit Monday, July 14, 2025

--Up 16.39% from its 52-week low of 7679.48 hit Wednesday, April 9, 2025

--Rose 9.47% from 52 weeks ago

--Off 0.66% from its 2025 closing high of 8998.06 hit Monday, July 14, 2025

--Up 16.39% from its 2025 closing low of 7679.48 hit Wednesday, April 9, 2025

--Month-to-date it is up 2.02%

--Year-to-date it is up 765.30 points or 9.36%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 12:48 ET (16:48 GMT)

STOXX Europe 600 Index Ends 0.37% Lower at 544.95 -- Data Talk

The STOXX Europe 600 Index is down 2.04 points or 0.37% today to 544.95

--Down for three consecutive trading days

--Down 7.98 points or 1.44% over the last three trading days

--Largest three day point and percentage decline since Thursday, June 19, 2025

--Off 3.23% from its record close of 563.13 hit Monday, March 3, 2025

--Lowest closing value since Monday, July 7, 2025

--Off 3.23% from its 52-week high of 563.13 hit Monday, March 3, 2025

--Up 15.97% from its 52-week low of 469.89 hit Wednesday, April 9, 2025

--Rose 5.34% from 52 weeks ago

--Off 3.23% from its 2025 closing high of 563.13 hit Monday, March 3, 2025

--Up 15.97% from its 2025 closing low of 469.89 hit Wednesday, April 9, 2025

--Month-to-date it is up 0.66%

--Year-to-date it is up 37.33 points or 7.35%

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 12:48 ET (16:48 GMT)

Toronto Stocks Retreat After Canadian Inflation Heats Up

By Robb M. Stewart

Shares on Canada's main exchange pulled back after inflation data offered a fresh signal the central bank is likely to again hold interest rates steady this month.

Pulling back from a fresh record high close Monday, the Toronto Stock Exchange's S&P/TSX Composite Index at midday was 0.5% lower, at 27068.04. Finance, technology and energy stocks led broad weakness.

The blue-chip S&P/TSX 60 was down 0.5%, at 1608.51.

Heavily-weighted Fairfax Financial was down 0.7%. The major banks also were trading in the red, with Royal Bank of Canada leading the pack downward, with a decline of 0.6%.

After notching solid gains Monday, gold stocks receded. Barrick Gold, Agnico Eagle Mines and B2Gold were each more than 1% lower.

Canada's consumer-price index inched up 0.1% in June and rose 1.9% from a year earlier, quickening from May's steady 1.7% pace. Core measures of inflation were even hotter, which--with elevated uncertainty surrounding tariffs and a recent recovery in the labor market--suggest little urgency for the Bank of Canada to resume cutting interest rates even with the economy faltering.

Ottawa continued to negotiate a new trade-and-security agreement with the White House, though Prime Minister Mark Carney said it may not be possible for the country to escape U.S. tariffs even with a bilateral agreement to resolve the current tariff row. This marks the first time Canada's leader has raised the possibility that U.S. tariffs may remain in place.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

July 15, 2025 12:47 ET (16:47 GMT)

Delta Air Lines Agrees to $8.1 Million in False Claims Act Violation

By Natalie Weger

Delta Air Lines on Tuesday agreed to pay $8.1 million to settle an alleged False Claims Act violation.

Between March 2020 and April 2023, Delta allegedly awarded compensation to certain corporate officers and employees exceeding limits set by the Treasury Department's Payroll Support Program, the Justice Department said. The program was established as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide payroll support to passenger and cargo air carriers and certain contractors.

The airline giant allegedly violated the False Claims Act by inaccurately certifying compliance with the program's requirements in quarterly reports to the Treasury Department. Delta also allegedly did not notify the department of the breach once it was discovered, the Justice Department said.

Delta strongly believes it fully complied with all requirements of the CARES Act, a Delta spokesperson said Tuesday.

"At issue is a disagreement about a technical matter involving the time periods used to measure executive compensation during the pandemic," the spokesperson said. "Delta has consistently maintained the claim is without merit and settled to avoid the expense and distraction of litigation."

Delta in 2020 and 2021 entered into the Treasury's payroll support program, which included limitations on compensation for certain employees earning an annual salary more than $425,000.

Write to Natalie Weger at natalie.weger@wsj.com

(END) Dow Jones Newswires

July 15, 2025 12:44 ET (16:44 GMT)

Nymex Overview: Oil Drops on Dollar Gain After U.S. Inflation Upticks -- OPIS

Crude oil futures fell before Tuesday afternoon trade, weighed down by a stronger dollar after the latest U.S. government data showed faster-than-expected consumer inflation.

The uptick in inflation in June driven by expected U.S. tariffs could also prompt the Federal Reserve to hold off on lowering interest rates later this year, which does not bode well for energy commodity prices.

At 11:45 a.m. ET, the more active September Nymex West Texas Intermediate crude contracts were down about 20cts at $65.65/bbl, and August WTI was 30cts lower at $66.65/bbl.

London-based September Brent crude contracts were off by 20cts to around $69/bbl and October Brent fell 15cts to $68.10/bbl.

The oil benchmarks are on track for a second consecutive session of lower finishes. On Monday, both WTI and Brent closed more than $1 lower on worries that Trump's sanction threat on Russia could disrupt oil supply.

Refined product prices have so far outperformed crude futures. September Nymex RBOB was up 0.8ct at $2.133/gal and August RBOB was 1.6ct higher at $2.1816/gal. September ULSD rose 2cts to $2.3875/gal, and August ULSD was up 2.7cts at $2.4165/gal.

President Trump said on Monday Russian President Vladimir Putin has 50 days to end the Ukraine war or the White House would impose harsh tariffs on Moscow. The delay in U.S. sanctions helped ease geopolitical tensions.

The oil market has digested the latest monthly report issued by the Organization of the Petroleum Exporting Countries. OPEC predicted economic growth in the second half of the year could exceed expectations, citing resilient fundamentals and optimism that the U.S. will strike trade agreements with most partners. The oil cartel kept its oil-demand forecast unchanged.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

--Reporting by Frank Tang, ftang@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

(END) Dow Jones Newswires

July 15, 2025 12:36 ET (16:36 GMT)

Canada PM Carney Signals U.S. Tariffs May Be Here to Stay -- Update

By Paul Vieira

OTTAWA--Canadian Prime Minister Mark Carney said Tuesday it may not be possible to escape U.S. tariffs even with a bilateral agreement to resolve the current tariff row.

"There is not a lot of evidence right, with regards to negotiations, of any country or jurisdiction" escaping U.S. tariffs, Carney told reporters in French ahead of a cabinet meeting in the capital.

Carney had entered talks with President Donald Trump toward a new economic-and-security pact between the North American neighbors that included lifting all tariffs on Canadian imports. This marks the first time that he has raised the possibility that U.S. tariffs may remain in place.

Some trade analysts and lawyers had previously said they didn't believe Canada would avoid tariffs as part of any deal negotiated with President Trump. At present, the U.S. applies a 25% tariffs on Canadian imports that don't comply with the terms of the U.S.-Mexico-Canada trade treaty, also known as USMCA. Trade analysts, such as Columbus, Ohio-based trade lawyer Dan Ujczo, said that roughly 80% of Canadian imports comply with USMCA and are entering the U.S. tariff free.

Canadian goods are also subject to Trump's sectoral tariffs, such as 50% levies on steel and aluminum, and a 25% tariff on Canadian-assembled vehicles. Canada is the biggest foreign supplier to the U.S. of steel and aluminum. Trump also plans to impose a 50% duty on copper.

Trump has given Canada until Aug. 1 to reach an agreement with the White House on trade, or else imports not compliant with USMCA face a higher 35% levy.

The U.S. and Canada have one of the world's biggest trading relationships, with nearly $1 trillion of trade between the two nations annually, according to the U.S. Trade Representative's office.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

July 15, 2025 12:35 ET (16:35 GMT)

Nordic Shares Decrease; Ericsson B Posts Biggest Loss

This article was automatically generated by Dow Jones using technology from Automated Insights.

Nordic stocks fell Tuesday, with the OMX Nordic 40 Index declining 0.9%.

Telefon AB L.M. Ericsson Series B posted the largest decline among large stocks during the session, dropping 7.7%, followed by Zinzino AB Series B shares, which fell 7.6%. Shares of Telefon AB L.M. Ericsson Series A fell 7.3%.

Dometic Group AB was the biggest leader, surging 12.2%, and Addtech AB Series B rose 8.6%. Orsted A/S rounded out the top three leaders on Tuesday, with shares gaining 8.2%.

In Denmark, the OMX Copenhagen 20 Index dropped 1.0%, and the OMX Helsinki 25 Index, which tracks Finland's most-traded stocks, fell 0.1%.

Stocks on Sweden's OMX Stockholm 30 Index was flat at 2,532.42, while Norway's Oslo Exchange Benchmark Index_GI dropped 0.3%. Shares in Iceland increased, with the OMX Iceland All-Share PI Equity Index increasing 0.6%.

Elsewhere in Europe, indexes fell, with the STOXX Europe 600 Index dropping 0.4% and the FTSE 100 Index falling 0.7% from the previous close.

In commodities news, Brent crude oil futures were down 0.6%, and gold futures were down 0.7%. Bitcoin slipped 2.8% to $116,592.

On the currency front, the WSJ Dollar Index rose 0.4% to 95.57.

Against the euro, the U.S. dollar was up 0.4%, the Icelandic krona was flat, the Danish krone was flat, the Norwegian krone was down 0.5%, and the Swedish krona was down 0.6%.

Against the U.S. dollar, the Icelandic krona was down 0.4%, the euro was down 0.4%, the Danish krone was down 0.4%, the Norwegian krone was down 0.9%, and the Swedish krona was down 1.1%.

Data source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

July 15, 2025 12:20 ET (16:20 GMT)

Canada PM Carney Signals U.S. Tariffs May Be Here to Stay

By Paul Vieira

OTTAWA--Canadian Prime Minister Mark Carney said Tuesday it may not be possible to escape U.S. tariffs even with a bilateral agreement to resolve the current tariff row.

"There is not a lot of evidence right, with regards to negotiations, of any country or jurisdiction" escaping U.S. tariffs, Carney told reporters in French ahead of a cabinet meeting in the capital.

Carney had entered talks with President Donald Trump toward a new economic-and-security pact between the North American neighbors that included lifting all tariffs on Canadian imports. This marks the first time that he has raised the possibility that U.S. tariffs may remain in place.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

July 15, 2025 12:13 ET (16:13 GMT)

Canada Inflation Accelerates in June, Likely Keeping Central Bank On Sidelines Again -- 2nd Update

By Robb M. Stewart

OTTAWA--Inflation in Canada picked up in June despite only limited signs companies have begun passing tariff costs on to consumers, likely keeping the central bank sidelined for a third policy meeting in a row.

The consumer-price index inched up 0.1% for the month and rose 1.9% from a year earlier, quickening from April's steady 1.7% pace, Statistics Canada said Tuesday.

That was in line with what economists were expecting. With core measures of inflation remaining hot and uncertainty surrounding global trade high, it suggests little urgency for the Bank of Canada to resume cutting interest rates even with the economy faltering.

Inflation was for a third month below the 2% target by the Bank of Canada. But traditional underlying inflation, which exclude volatile food and energy prices, held at 2.6% annually. And the trimmed mean and weighted median measures of core inflation favored by the Bank of Canada remained heated, averaged a little over 3%.

Consumers continued to pay less at the pump in June following the removal earlier this year of the federal carbon tax, but comparisons with a year earlier meant the drop played less of a role in taming inflation than it did in May. Where Canadians did feel a pinch was in faster price growth for some durable goods, including passenger vehicles and furniture, and in higher clothing costs--which may hint at some pass-through by businesses of higher tariffs.

"The Bank of Canada can afford to be patient and to receive more information before acting," Charles St-Arnaud, an economist at credit-union advocacy group Alberta Central, said.

St-Arnaud, a former Bank of Canada economist, said underlying inflation remains elevated and the breadth of inflationary pressures widened in June. The share of components in the CPI basket that rose by more than 5% was steady at 19%, but components with price increases of more than 3% remained well above historical norms at 39% versus 37% a month earlier.

The Bank of Canada's governing council has stressed it is proceeding cautiously and is being less forward-looking than usual, avoiding explicit economic forecasts. Most economists now expect the council will later this month opt to leave its policy rate unchanged for a third straight meeting, especially in the wake of strong June jobs numbers last week and polls indicating business and consumer confidence is recovering.

Consumer inflation averaged 1.8% for the second quarter, cooling from 2.3% over the first three months of the year but quicker than the 1.5% anticipated in scenarios painted by the central bank. Economists expect policymakers will remain wary of prices heating up as businesses sell down inventories of goods built up at the start of 2025 in an effort to beat the Trump administration's tariffs, particularly after the president last week said he would hit imports from Canada with a 35% tariff from Aug. 1, a jump from the 25% levy effective since March on items not covered by the North American free trade agreement.

"This is a central bank that by its own admission isn't very comfortable being forward-looking. Waiting until the fall will give them more time to observe cost pressures, the response of the economy to tariffs and the uncertainty shock, and perhaps most important to have a clearer picture of Canada's tariff outcome," said Ali Jaffery, a senior economist at CIBC Capital Markets.

Evidence of tariff-fueled inflation in Canada so far remains limited.

Statistics Canada attributed a jump in clothing prices compared with last year to trade uncertainty in June amid high costs from tariffs. And economists said upward pressure on durable goods prices likely also in part reflects tariffs. Still, food price inflation cooled last month, despite this being one area Canada has continued to target with counter-tariffs on U.S. imports.

Markets are now pricing in little chance of a Bank of Canada cut this month, and the Canadian dollar outperformed most other major crosses following the inflation report and the U.S. showing inflation there had picked up to 2.7% in June from 2.4% the month before.

"The Bank of Canada could reasonably look through the temporary price increases caused by counter-tariffs. However, it has been reluctant to do so, given uncertainty around the full extent of the pass-through and the possibility of other inflationary forces at play. At the same time, Canada has yet to experience recessionary pressures that would compel the BoC to shift toward a more accommodative stance," Dominique Lapointe, director of macro strategy at Manulife Investment Management, said.

While Lapointe expects rates to remain steady July 30, he said expectations the jobless rate will rise further and greater clarity on the temporary affect of tariffs will eventually open the door for the central bank to resume cutting.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

July 15, 2025 12:05 ET (16:05 GMT)