Canada Markets close in 4 hrs 57 mins

Stocks weak as banks roll over

Another big week in the books with stocks finishing a decent week on a down note, with bank shares rolling over. Plus, Amazon versus the White House takes a new turn with Trump ordering an investigation of the U.S Post Office. And, Mark Zuckerberg’s big week is over, but is the worst still to come for Facebook? Plus, exotic meats are big business, but one Durham restaurant is taking it 8 steps, further. We’ll explain. Catch The Final Round at 3:55 ET p.m. with Alexis Christoforous, Yahoo Finance markets correspondent Myles Udland, Yahoo Finance Editor-in-Chief Andy Serwer and Seana Smith.

Winners and losers

Stocks in the red include JPMorgan shares down in early trade as the biggest US bank by assets beat on earnings and revenue, powered by stock trading, wealth management, and credit card operations; Dropbox as Nomura Instinet initiated the cloud storage firm with a ‘reduce’ rating and $21 price target; and Starbucks, with shares slipping on a downgrade to market perform by Cowen, citing concerns over craft coffee competition and customer loyalty for the world’s largest coffeeshop chain.

Stocks in the green include Tronc as the NY Post reports the struggling media company is drawing possible buyout interest from private equity firm Apollo Global Management; Broadcom as the chipmaker announced a $12 billion dollar stock buyback, coming only a few weeks after its failed bid for rival Qualcomm; and Tesla, with shares higher as embattled CEO Elon Musk responded to a critical Economist article by claiming Tesla would be profitable and cash flow positive in Q3 and Q4, meaning a capital raise wouldn’t be necessary.

  • The Latest: Saudi royals meet with writer's relatives
    Finance
    The Canadian Press

    The Latest: Saudi royals meet with writer's relatives

    Saudi King Salman and Crown Prince Mohammed bin Salman have received the family of killed journalist Jamal Khashoggi and expressed their condolences. The royals received the journalist's son, Salah, and his brother, Sahel, at the Yamama Palace in Riyadh on Tuesday. A friend of the Khashoggi family

  • Esport betting platform gets license for video game gambling
    Finance
    The Canadian Press

    Esport betting platform gets license for video game gambling

    The live-betting esports platform Unikrn had its wagering license approved by the Isle of Man on Tuesday, clearing the way for users to legally gamble on competitive video games. "There is finally a legitimate, regulated operator in the space that has a pretty comprehensive offering," Unikrn

  • Finance
    The Canadian Press

    Top scientists say Brexit could hurt research across Europe

    Top scientists from around Europe warned Tuesday that Brexit could leave Britain and the European Union "more insular," harming research across the continent, as Prime Minister Theresa May met her divided Cabinet to discuss the state of divorce negotiations. A letter signed by 29 Nobel laureates

  • Exclusive: Justice Department demands details from Glencore on intermediary firms - sources
    Finance
    Reuters

    Exclusive: Justice Department demands details from Glencore on intermediary firms - sources

    The investigation is not directed at Glencore's own activities or its senior executives, two sources told Reuters, giving no further detail about the type of information sought. "The investigation focuses on intermediaries," one source familiar with the probe said. A banker working with

  • Exclusive: Airbus faces new jet delays at Hamburg plant - sources
    Finance
    Reuters

    Exclusive: Airbus faces new jet delays at Hamburg plant - sources

    Now engines are arriving fast - but fresh snags mean a Hamburg plant that assembles best-selling jets is having trouble absorbing them, industry sources said. The internal snags have exacerbated delivery delays that leave Airbus with the challenge of delivering 76 single-aisle planes per month in the

  • Finance
    Bloomberg

    Prince Attends Summit as Erdogan Cries Murder: Khashoggi Update

    The Saudis have promised to punish the perpetrators, but political pressure shows little sign of easing and the controversy clouded the first day of a major investment conference in Riyadh. Saudi Arabia’s Prince Mohammed made a public appearance at the investment event in Riyadh with King Abdullah of

  • Finance
    The Canadian Press

    Luxury home sales drop 35% in Toronto and Vancouver; high-end condo sales up

    Luxury home sales in two of Canada's most expensive markets are down from a year, as the high-end real estate market feels the effect of foreign buyers taxes. In an annual report, realty brokerage Re/Max says sales of single-detached homes priced from $1 million to $2 million fell 35 per cent from

  • Trump, China's Xi to Meet at G-20 to Talk Trade, Kudlow Says
    Finance
    Bloomberg

    Trump, China's Xi to Meet at G-20 to Talk Trade, Kudlow Says

    (Bloomberg) -- U.S. President Donald Trump and Chinese President Xi Jinping will meet at the Group of 20 nations summit in Buenos Aires to discuss the trade dispute between the two countries, White House economic adviser Larry Kudlow said Tuesday.

  • TSX hits six-month low on global selloff, oil slide
    Finance
    Reuters

    TSX hits six-month low on global selloff, oil slide

    Canada's main stock index touched its lowest in six months on Tuesday, tracking a slump in global markets on political worries and growth concerns and due to losses in energy stocks. ** At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 190.64 points,

  • Lawsuit filed over highway shutdown during pipeline protest
    Finance
    The Canadian Press

    Lawsuit filed over highway shutdown during pipeline protest

    Two members of the Standing Rock Sioux tribe and a reservation priest are suing over a five-month shutdown of a North Dakota highway during protests against the Dakota Access oil pipeline, saying the closure violated their and others' constitutional rights. The lawsuit filed Friday in U.S. District

  • Prices for used Harley bikes are near historic lows, but not for long
    Finance
    CNBC

    Prices for used Harley bikes are near historic lows, but not for long

    The motorcycle manufacturer said historically low used bike prices are taking a chunk out of new bike sales, but prices are edging upward.

  • Finance
    Bloomberg

    Italy Says No Plan B as EU Demands Unprecedented Budget Revision

    Italian Prime Minister Giuseppe Conte insisted his government has no “Plan B” for its budget as the European Union demanded unprecedented changes to bring the country into line with spending rules. While EU commissioners were discussing Italy’s violations at a meeting in Strasbourg Tuesday, Conte said

  • EU Hands Italy Unprecedented Budget Rebuke on Rules Breach
    Finance
    Bloomberg

    EU Hands Italy Unprecedented Budget Rebuke on Rules Breach

    The negative opinion means the EU’s executive arm is asking the government to take back, revise and resubmit its plans -- though Italian Prime Minister Giuseppe Conte told Bloomberg shortly before the widely expected decision that there’s no “Plan B” for the fiscal program. The rejection follows months

  • STEM jobs pay more, but how much and for how long?
    Finance
    Yahoo Finance

    STEM jobs pay more, but how much and for how long?

    STEM jobs pay a lot more, but only for a while.

  • Stocks Extend Slide; Dow Declines 500 Points: Markets Wrap
    Finance
    Bloomberg

    Stocks Extend Slide; Dow Declines 500 Points: Markets Wrap

    The sell-off in U.S. equities put the S&P 500 Index on track for its 12th loss in 14 days as investors grow concerned that the trade war and rising interest rates have put an end to runaway expansion of corporate profits. Caterpillar sank as much as 8 percent in early trading after flagging concern

  • Finance
    The Canadian Press

    US stocks tumble in early trade after global markets slide

    The latest wave of selling came as investors grew increasingly unsettled by the prospects for China's economy and the cost of President Donald Trump's aggressive trade policies. China reported on Friday that its economy grew 6.5 per cent from July to September from a year earlier, the slowest

  • Saudi investment forum opens under haze of Khashoggi's death
    Finance
    The Canadian Press

    Saudi investment forum opens under haze of Khashoggi's death

    A high-profile economic forum in Saudi Arabia began on Tuesday in Riyadh, the kingdom's first major event on the world stage since the killing of writer Jamal Khashoggi at the Saudi Consulate in Istanbul earlier this month. Khashoggi's death loomed large over the start of the event, known as

  • Finance
    Bloomberg

    Saudi Oil Chief Says OPEC’s in ‘Produce as Much as You Can’ Mode

    The kingdom has already boosted oil production to 10.7 million barrels a day, near an all-time high, and it can increase it even more to help plug any supply shortfalls due to U.S. sanctions against Iran’s energy industry, Saudi Energy Minister Khalid Al-Falih told a conference in Riyadh. U.S. President

  • Trump’s Tax Push to Help Middle Class Could Help Top Earners Too
    Finance
    Bloomberg

    Trump’s Tax Push to Help Middle Class Could Help Top Earners Too

    It’s still unclear how Trump will propose to reduce the tax burden on middle-class Americans, but one of the most straightforward ways would be to lower rates by 10 percent for single filers making up to $82,500. U.S. income tax rates are graduated and income dollars get taxed in chunks as they move

  • Waterloo tech brand makes big bet on smart glasses after predecessors' failures
    Finance
    The Canadian Press

    Waterloo tech brand makes big bet on smart glasses after predecessors' failures

    Grant and his fellow co-founders of Waterloo-based North, Matthew Bailey and Stephen Lake, have spent the last four years developing their $1,299, battery-powered Focals glasses so they can receive and send text messages, order Uber rides, display the time and weather and do anything Amazon's voice-based

  • Caterpillar has a big 3Q, but Wall Street senses pessimism
    Finance
    The Canadian Press

    Caterpillar has a big 3Q, but Wall Street senses pessimism

    DEERFIELD, Ill. — Caterpillar beat most profit and revenue expectations in the third quarter, but company shares were punished Tuesday when Wall Street sensed some pessimism in the company's outlook, which remains unchanged.

  • Long-time Tesla critic Citron Research goes 'long' on stock
    Finance
    Reuters

    Long-time Tesla critic Citron Research goes 'long' on stock

    Tesla Inc's shares rose nearly 7 percent on Tuesday, after long-time critic and short-seller Citron Research reversed its opinion on the stock to "long" from "short". The change in view comes a month after Andrew Left-led Citron sued Tesla and its Chief Executive Officer Elon

  • Saudi signs deals worth $50 billion at investment event despite boycott
    Finance
    Reuters

    Saudi signs deals worth $50 billion at investment event despite boycott

    The Saudi cabinet, after a meeting headed by King Salman on the same day, promised to hold to account those who where responsible for Khashoggi's death and those who "failed in their duties" in the case that has provoked an international furor and strained ties between Riyadh and the West

  • Apple is reportedly planning to fix the 'beautygate' effect, which automatically smooths out selfies on the new iPhones (AAPL)
    Finance
    Business Insider

    Apple is reportedly planning to fix the 'beautygate' effect, which automatically smooths out selfies on the new iPhones (AAPL)

    The controversy was dubbed "beautygate" by iPhone XS users. Apple is reportedly planning to fix the excessive photo smoothing effect from the iPhone XS and iPhone XR phones in an upcoming version of iOS, according to The Verge's review of the iPhone XR. The selfie smoothing controversy

  • McDonald's global strength offsets U.S. weakness, shares rise
    Finance
    Reuters

    McDonald's global strength offsets U.S. weakness, shares rise

    Shares of the company were up 4.3 percent at $173.80 in morning trading as the Dow component also beat forecast for its main indicator of profit and said sales in its big developed markets outside the United States grew 5.4 percent. Restaurant chains in the United States have been competing for a bigger