Chimezie Metu (Sacramento Kings) with a dunk vs the Memphis Grizzlies, 11/28/2021
(Reuters) -The U.S. stock market's rebound in recent weeks has analysts and investors questioning whether 2022's deep downturn has ended, but how to spot an expiring bear market or a new bull market is not something everyone on Wall Street agrees on. The Nasdaq index's drop of about 0.6% on Thursday left the tech-heavy index up 20% from recent low on June 16, while the S&P 500 has also rebounded in recent weeks, now up 15% from its recent low in June. The recent gains led analysts at Bespoke Investment Group to declare on Thursday morning the Nasdaq had exited its recent bear market, even though the index remains down about 21% from its record high close last November, with trillions of dollars in stock market value still lost.
Europe is heading into winter with seasonally low levels of diesel in storage tanks, with major implications for the continent's industries and drivers in the run-up to EU sanctions on Russian crude oil and refined product supplies. Diesel, along with other distillate fuels such as heating oil and gasoil, are the lifeblood of industry with uses ranging from powering factories to heating homes, in addition to being used as a motor fuel. When Russia, which supplies Europe with about 60% of its import requirement, invaded Ukraine on Feb. 24, the diesel market went into shock as it priced in a possible cutoff of those supplies.
More than half of Canadians believe the metaverse will be part of everyday life within the next decade, study says
Canada's antitrust agency blocked Rogers' C$20 billion acquisition of Shaw in May saying it would lessen competition in the country's concentrated telecoms market, where customers pay among the highest bills. Rogers and Shaw had offered the sale of Freedom Mobile, a Shaw unit, as a way to allay competition concerns.
Operations not expected to resume at Valcourt until Monday
WASHINGTON (AP) — After decades of inaction in the face of escalating natural disasters and sustained global warming, Congress hopes to make clean energy so cheap in all aspects of life that it’s nearly irresistible. The House is poised to pass a transformative bill Friday that would provide the most spending to fight climate change by any one nation ever in a single push. Friday’s anticipated action comes 34 years after a top scientist grabbed headlines warning Congress about the dangers of glo
PRAGUE (AP) — Oil shipments from Russia through a critical pipeline to several European countries resumed after a problem over payments for transit was resolved, Slovakia’s Economy Minister Richard Sulik said on Wednesday. “Oil is already on Slovakia territory,” Sulik said on Facebook. He gave no further details. But no oil has reached the neighboring Czech Republic yet, the country’s Mero pipeline operator said, and Hungary also was still to receive deliveries by Wednesday evening. Russian stat
(Reuters) -Wednesday's consumer price index report showing U.S. inflation didn't accelerate in July was the first "positive" reading on price pressures since the Federal Reserve began tightening policy, Chicago Fed President Charles Evans said, even as he signaled he believes the Fed has plenty more work to do. With consumer prices unchanged last month compared to June, but up 8.5% from a year earlier, inflation is still "unacceptably" high, and the Fed will likely need to lift its policy rate, currently in the 2.25%-2.5% range, to 3.25%-3.5% this year and to 3.75%-4% by the end of next year, Evans said. The remarks suggest Evans, among the 19 central bankers who set U.S. monetary policy, expects to soon slow what's been the Fed's steepest round of interest-rate hikes in decades.
Euro zone industrial production in June grew three times more than expected, data showed on Friday, mainly thanks to a jump in the output of capital goods. The European Union's statistics office Eurostat said industrial production in the 19 countries sharing the euro rose 0.7% month-on-month in June for a 2.4% year-on-year increase. Eurostat said that the production of capital goods, which include things like machinery, equipment, vehicles or tools, rose 2.6% on the month and 7.6% in annual terms.
Energy stocks are down from the 2022 highs. Investors can now get high dividend yields for Suncor and Canadian Natural Resources. Is SU stock or CNQ stock a better buy? The post Oil Price: Should You Buy Suncor (TSX:SU) or Canadian Natural Resources (TSX:CNQ) Stock? appeared first on The Motley Fool Canada.
MONTREAL — CAE Inc. reined in its earnings forecast for the year after reporting a 96 per cent year-over-year profit decrease last quarter due to supply chain problems and writedowns on a pair of pricey defence projects. The Montreal-based builder of flight and health simulators lowered its outlook for operating income growth to the mid-20 per cent range from the mid-30s, having eked out $1.7 million in net income attributable to equity holders in the quarter ended June 30. “We had a mixed perfo
SAN FRANCISCO (AP) — A federal judge ruled Wednesday that Walgreens can be held responsible for contributing to San Francisco's opioid crisis for over-dispensing highly addictive drugs for years without proper oversight and failing to identify and report suspicious orders as required by law. San Francisco City Attorney David Chiu said the pharmacy chain “continually violated what they were required to do under the federal Controlled Substances Act,” failing to track opioid prescriptions, prevent
WASHINGTON (Reuters) -The U.S. Federal Communications Commission rejected SpaceX's Starlink and LTD Broadband's applications for more than $2 billion in internet service subsidies, the FCC said on Wednesday. In December 2020, the FCC tentatively awarded $9.2 billion to over 300 bidders to deploy high-speed broadband from the Rural Digital Opportunity Fund. LTD Broadband won $1.32 billion and SpaceX's Starlink satellite internet network won $885.5 million in the 2020 auction.
Chinese ride-hailing firm Didi's joint venture with Li Auto has applied for bankruptcy, according to a court filing, pointing to the end of a four-year-old partnership to make electric vehicles (EV). The company, 51% owned by Didi while 49% held by Li Auto, submitted the bankruptcy application to Beijing No. 1 Intermediate People's Court on Thursday, a statement on a website run by the Supreme Court showed. Didi and Li Auto did not immediately respond to requests for comment.
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The dollar was slightly lower on Thursday following a 1% loss the previous day when data showed U.S. inflation was not as hot as anticipated in July, prompting traders to dial back future rate hike expectations by the Federal Reserve. Investors slashed bets on the possibility that the Fed will raise interest rates by 75 basis points for a third consecutive time to help tame decades-high inflation when it meets in September after a report on Wednesday showed U.S. consumer prices were unchanged in July. Fed funds futures traders are now pricing in a 58% chance of a 50-basis-point hike in September and a 42% chance of a 75-basis-point increase.
China's war games around Taiwan have led Biden administration officials to recalibrate their thinking on whether to scrap some tariffs or potentially impose others on Beijing, setting those options aside for now, according to sources familiar with the deliberations. President Joe Biden's team has been wrestling for months with various ways to ease the costs of duties imposed on Chinese imports during predecessor Donald Trump's tenure, as it tries to tamp down skyrocketing inflation. It has considered a combination of eliminating some tariffs, launching a new "Section 301" investigation into potential areas for additional tariffs, and expanding a list of tariff exclusions to aid U.S. companies that can only get certain supplies from China.
STOCKHOLM (Reuters) -Deutsche Telekom on Thursday raised its annual earnings forecast for the second time after beating quarterly estimates, and said it could achieve its goal of a majority stake in U.S. unit T-Mobile much sooner than 2024. The company has said it wants to own a majority of T-Mobile, which led much of the group's subscriber growth in the second quarter, over the medium term. Deutsche Telekom now expects to post adjusted earnings before interest, tax, depreciation and amortisation after leases (EBITDA AL) of around 37 billion euros ($38 billion) in 2022, up from previous guidance of more than 36.6 billion euros.
The S&P 500 and Nasdaq finished in the red while Treasury yields rose as investors digested signs of cooling U.S. inflation and hopes the Federal Reserve could slow interest rate hikes against warnings that the battle with rising prices was far from over. This followed Wednesday's surprise news that consumer prices (CPI) were unchanged in July due to a drop in gasoline prices. Two straight days of slower inflation data gave investors some hope that soaring prices were finally "peaking and heading in the right direction," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
GUELPH, Ont. — Linamar Corp. says sales climbed in its last quarter on increased market share and higher pricing while profits saw a modest dip in part on higher input costs. The manufacturer says net income for the quarter ending June 30 came in at $104.5 million, or $1.61 per share, down from $108 million or $1.65 per share. Adjusted net earnings were $109.3 million, or $1.68 per share, up from $106.9 million or $1.63 per share. Sales came in at $1.98 billion, up from $1.58 billion for the sam
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