Moody's Upgrades Israel's Credit Outlook Amid Geopolitical Calm; Canadian Railways Suffer $400M Loss from Tariffs

Israel's improving geopolitical situation led Moody's Ratings to upgrade its credit outlook for the country to stable from negative. The rating agency cited the ceasefire between Israel and Hamas as a significant factor in the decision. In contrast, Canadian railways suffered a substantial financial blow due to US tariffs, with the two largest operators reporting over C$550 million ($406 million) in forgone revenues last year.

The London Metal Exchange delayed the start of trading on Friday due to technical issues. Meanwhile, the Federal Reserve is expected to announce a new chair, with Kevin Warsh being a leading contender. Treasury yields surged in anticipation of Warsh's appointment. Solv Energy Inc. aims to raise $512.5 million in an initial public offering to address the increasing power needs of data centers.

Brazilian regulators estimated that transactions tied to failed Banco Master left a nearly $1 billion gap in the finances of a state-owned bank. The family firm behind Prince George's baby shoes warned of potential closure due to increased prices and decreased demand. Nomura Holdings announced plans to buy back shares despite record annual earnings.

China's liquefied natural gas imports are expected to continue rising, indicating buyers may have taken more cargoes via long-term contracts. Malaysia's central bank ruled out using the ringgit to support exports, stating that strong growth and ongoing reforms would provide sufficient support.

Currency traders are ramping up bullish Australian dollar bets as rate hike expectations grow. Delta Electronics' stock value has surged, making it Taiwan's second-biggest company, worth over $100 billion. Gold resumed its rally after a brief drop, with geopolitical upheaval, the debasement trade, and thin liquidity driving the price increase.

Global investors' exit from Indonesian stocks following MSCI Inc.'s investability warning is not yet complete, raising the specter of a prolonged market derating. Sutton's football expert predictions for the Premier League fixtures pitted him against boxer Francesca Hennessy and an AI.

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