Skip to Navigation
Skip to Market Summary
Skip to Main Content
Skip to Related Content

Sign in

Canada Markets open in 7 hrs 43 mins

S&P/TSX
15,470.10
+65.97(+0.43%)
S&P 500
2,767.78
-1.00(-0.04%)
DOW
25,444.34
+64.89(+0.26%)
CAD/USD
0.76
+0.00(+0.04%)
CRUDE OIL
69.40
+0.28(+0.41%)
BTC-CAD
8,754.85
-45.07(-0.51%)
GOLD FUTURES
1,230.80
+2.10(+0.17%)
RUSSELL 2000
1,542.04
-18.71(-1.20%)

Stocks drop across the globe on trade fears

July 11, 2018

Stocks are dropping here with the Dow leading the way lower. Plus is it endgame in Comcast’s war with Disney over Fox? We have the latest. And, is regulation a positive catalyst for Facebook? Wall Street says, “Yes.” Plus, move over Zuckerberg — the youngest billionaire ever may be an instagram celeb. Catch The Final Round at 3:55 ET p.m. with Jen Rogers, Yahoo Finance markets correspondent Myles Udland, and Yahoo Finance Editor-in-Chief Andy Serwer.

Winners and losers

Stocks in the red include US Cellular as JPMorgan cuts shares to Sell, citing the mobile operator’s lack of 5G initiatives; Cedar Fair as the theme park operator saw attendance decline 3% year over year; and American Airlines, as it trimmed its outlook for second-quarter unit revenue growth, citing pricing pressure for domestic flights.

Stocks in the green include LendingTree as insider GCI Liberty revealed in a filing that it bought 220,000 shares last week; Myriad Genetics as Morgan Stanley upgraded shares to Overweight, citing stability in sales of its HCT hereditary cancer test; and Fastenal, with shares ripping higher as the construction products maker beat on profit and revenue and upped its dividend.

Finance
Reuters
Asia shares rally as China surges on stimulus hopes
MSCI's broadest index of Asia-Pacific shares outside Japan turned on a dime to rise 1 percent. Japan's Nikkei moved up 0.4 percent, after being down more than 1 percent earlier, while South Korean stocks were flat.
Finance
Bloomberg
Asian Stocks Reverse Losses as China Rallies: Markets Wrap
Speculation of intervention from China’s “National Team” of state-backed funds together with comments from the heads of the central bank, banking and insurance regulator, and securities regulator lifted stocks Friday from a four-year low. Chinese President Xi Jinping also vowed “unwavering” support
Finance
Reuters
KKR-backed Calsonic to buy Fiat Chrysler's Magneti Marelli unit for $7.1 billion
Japanese car parts maker Calsonic Kansei, owned by U.S. private equity firm KKR, has agreed to buy Fiat Chrysler's high-tech parts-making unit Magneti Marelli unit for 6.2 billion euros ($7.1 billion), the companies said. Magneti Marelli specializes in lighting, powertrain and high-tech electronics
Finance
The Canadian Press
Canada Post hit by rotating strikes in Victoria, Edmonton, Windsor and Halifax
The union representing 50,000 Canada Post employees has begun a series of rotating strikes. The Canadian Union of Postal Workers says the 24-hour strikes began Monday at 12:01 a.m. local time in Windsor, Ont., and at 1:01 a.m. in Halifax. Strikes in Victoria and Edmonton were also set to begin at one
Finance
Bloomberg
Emerging-Market Stocks in Doldrums on Fed, Trade Risks
Highlights for the week ended Oct. 19:A majority of Fed officials favor an eventual and temporary move for interest rates to above the level they deem neutral for the economy in the long run, according to the minutes of the Sept 25-26 policy meetingTrump threatened to impose another round of tariffs
Finance
Bloomberg
Fiat to Sell High-Tech Car-Parts Arm Magneti Marelli to KKR's Calsonic
The new company will be called Magneti Marelli CK Holdings, the companies said Monday in a statement. Fiat will enter into a multi-year supply agreement with its former unit that will maintain Marelli’s presence in Italy and maintain employment levels.
Finance
Reuters
Oil rises on looming Iran sanctions, but U.S.-China trade war caps gains
Front-month Brent crude oil futures were at $79.96 a barrel at 0414 GMT, 18 cents above their last close. U.S. West Texas Intermediate (WTI) crude futures were at $69.32 a barrel, 20 cents above their last settlement. The U.S. sanctions on the oil sector in Iran, the third-largest producer in the
Finance
Bloomberg
Billionaire Li Nears Deal to Buy CBA's Indonesia Unit
A sale of CBA’s 80 percent stake in the business could fetch about $400 million, people with knowledge of the matter said in June. Other suitors for the Indonesian venture included PT Asuransi Jiwa Sequis Life, the insurer part-owned by Nippon Life Insurance Co., Canada’s Sun Life Financial Inc. and
Finance
Reuters
Goldman Sachs changes Asia investment banking leadership: memo
Leland, an American who joined Goldman in 1992, will replace Andrea Vella and Kate Richdale who were appointed co-heads of the unit in 2015. Vella and Richdale will remain in the region to become the co-chairs of the unit, said the memo sent to the bank staff and seen by Reuters on Monday. Leland was
Finance
Reuters
New trade pact leaves most U.S. industry at mercy of Mexico's courts
For thousands of U.S. firms, the change could add complications and uncertainty to doing business south of the border. Mexico is the third-largest U.S. trading partner. The previous trade agreement, NAFTA, included provisions that gave U.S. firms operating in Mexico and Canada the option to challenge
Finance
Bloomberg
India’s Top Hedge Fund Is Buying Shares Again
The Avendus Capital Alternate Strategies’ Absolute Return Fund is increasing investments after benchmark indexes slumped due to surging oil prices, higher borrowing costs and defaults at a local shadow lender. “We are deploying our cash as this market is poised for a short-term rebound,” said Andrew
Finance
Bloomberg
Egypt May Sell First Yen, Yuan Bonds in Early 2019
The government has sold more than $13 billion in foreign currency-denominated bonds since it lifted most currency controls, raised interest rates and cut subsidies in November 2016 to help secure a $12 billion loan from the International Monetary Fund. As volatility in emerging markets makes investors
Finance
Bloomberg
Turkey’s Leaks Are Undermining the Khashoggi Investigation
On Thursday, a Turkish official told ABC News that U.S. Secretary of State Mike Pompeo, on his recent visit to Istanbul, heard a recording of the Saudi Arabian journalist Jamal Khashoggi being murdered in the Saudi consulate. Follow the trail of reporting on any detail about what happened after Khashoggi
Finance
Bloomberg
BP Uses Borrowed Tech to Drive Billions in Savings
The searing heat triggers sensors that roughnecks extracting natural gas from a BP Plc well are wearing across their chests. The use of data in this scenario described by BP holds big promise for the company, which has cut billions of dollars of costs following oil’s recent existential slump. If applied
Finance
Bloomberg
Quants Now Trade Exotic Stuff. But Can They Handle Illiquidity?
With at least $7 billion invested across at least eight such funds, up from one fund and $1 billion five years ago, these alternative CTAs remain very much a niche strategy. As more money is targeting much smaller markets, even some fund managers warn of risks if managers pile into the same trade or
Finance
Bloomberg
Trump's EU Trade Talks Quickly Become Contentious
The Trump administration in June hit the EU with steel and aluminum tariffs, prompting rapid retaliation from Brussels against iconic American products like bourbon whiskey and Harley-Davidson motorcycles. A descent into an all-out trade war was averted in July when European Commission President Jean-Claude
Finance
Bloomberg
Oil’s Plunge Has Investors Cutting Their Bullish Bets
Hedge funds cut bets on rising West Texas Intermediate crude prices for a sixth straight week, to the lowest since October 2017. Before a slight rebound on Friday, the U.S. benchmark sank 10 percent in little more than two weeks. “There are growing concerns in the market about demand growth stalling
Finance
Bloomberg
CP Rail Chief Sees Boom-Time Oil Loads Amid Pipeline Pinch
Canadian Pacific Railway Ltd. may match or exceed its record 2014 pace of 110,000 crude carloads next year as a pipeline crunch stokes demand for shipping by train, Chief Executive Officer Keith Creel said late Thursday in an interview from Calgary, where the company is based. “The demand is there,”
Finance
Bloomberg
U.K. Prosecutors Seek to Reinstate Barclays-Qatar Fraud Charges
Starting Monday, the High Court in London will hear four days of arguments on whether the Serious Fraud Office has a valid indictment against both the bank’s holding and operating companies. The British prosecutor on Monday will ask the High Court to reinstate all of the charges against both companies
Finance
Bloomberg
Protector of Austrian Industry Jewels Turns Into a Raid Target
The foundation, which controls fiber maker Lenzing AG, aluminum maker Amag Austria Metall AG and rubber maker Semperit AG and is looking for a fourth asset, is targeted by Austrian investor Michael Tojner in a hostile attempt, B&C Chairman Wolfgang Hofer said in a statement on Saturday. UniCredit SpA
Finance
Bloomberg
Chinese Stocks Rally Most Since 2016 as State Steps Up Support
President Xi Jinping vowed “unwavering” support for non-state firms over the weekend, the country’s stock exchanges committed to help manage share-pledge risks, and the government released a plan to cut personal income taxes. The stock market has been plagued by concern that margin calls will exacerbate
Finance
Reuters
Japan to tell Facebook to improve data protection: Kyodo
The Japanese government is set to tell Facebook Inc to better protect its users' personal data after a leak involving British firm Cambridge Analytica that affected 87 million users globally, Kyodo News reported on Monday. The government, which jointly investigated the data leak with British authorities
Finance
Bloomberg
Rupee Forecaster ING Gets More Bearish Just as Currency Rebounds
Rising oil prices and political uncertainty ahead of state elections will see Asia’s worst-performing currency resume losses, according to Prakash Sakpal, an economist at ING in Singapore, whose estimate of 76.50 per dollar is the most bearish in a Bloomberg survey. The rupee is “is highly correlated
Finance
Bloomberg
Italian Markets Set for Relief as Risk of Junk Rating Retreats
Moody’s cut Italy’s credit rank by one step to Baa3, its lowest investment-grade rating, on concern the government’s budget will erode its fiscal strength and stall plans for structural reform. “This was the softest move possible and should be a relief for investors,” Ciaran O’Hagan, the head of euro-area
Finance
Bloomberg
Oil Holds Near $69 as Rising U.S. Drilling Eases Supply Concerns
Working U.S. oil rigs increased by four to 873 last week, according to data released Friday by oilfield services provider Baker Hughes. In Libya, BP Plc and Eni SpA could resume a project, setting the stage for the OPEC member to boost output, the country’s state oil company said.