Canada markets closed

  • S&P/TSX

    18,717.12
    -286.92 (-1.51%)
     

  • S&P 500

    3,795.73
    +35.84 (+0.95%)
     

  • DOW

    30,677.36
    +194.23 (+0.64%)
     

  • CAD/USD

    0.7699
    -0.0024 (-0.31%)
     

  • CRUDE OIL

    104.23
    -1.96 (-1.85%)
     

  • BTC-CAD

    27,125.91
    +959.76 (+3.67%)
     

  • CMC Crypto 200

    448.53
    +16.31 (+3.77%)
     

  • GOLD FUTURES

    1,826.30
    -12.10 (-0.66%)
     

  • RUSSELL 2000

    1,711.67
    +21.40 (+1.27%)
     

  • 10-Yr Bond

    3.0680
    -0.0880 (-2.79%)
     

  • NASDAQ

    11,232.19
    +179.11 (+1.62%)
     

  • VOLATILITY

    29.05
    +0.10 (+0.35%)
     

  • FTSE

    7,020.45
    -68.77 (-0.97%)
     

  • NIKKEI 225

    26,171.25
    +21.70 (+0.08%)
     

  • CAD/EUR

    0.7313
    +0.0005 (+0.07%)
     
MARKETS LIVE BLOG:

STOCKS END HIGHER AFTER POWELL TESTIMONY TO CONGRESS

Fed chair Jerome Powell says commitment to curbing inflation is 'unconditional'

Stocks: 'There is a great hunger' in markets to find a bottom, strategist says

In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • ^FVX
  • ^IXIC
  • ^DJI
  • ^GSPC
  • 0P0001CRXW.F
  • ^TYX
  • XLRE
  • ^TNX

Ted Oakley, Oxbow Advisors Managing Partner, and Moneta CIO Aoifinn Devitt sit down with Yahoo Finance Live to weigh marketing tipping points during the Fed's interest rate hike cycle, inflation, and the housing market.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting

Latest Stories

  • Where to Invest $5,000 Amid the Market Selloff

    Can you afford to invest $5,000 in stocks right now? If yes, you must consider buying these dirt-cheap stocks amid the ongoing market selloff. The post Where to Invest $5,000 Amid the Market Selloff appeared first on The Motley Fool Canada.

  • Fed's inflation fight is 'unconditional,' Powell says

    The Federal Reserve's commitment to reining in 40-year-high inflation is "unconditional," U.S. central bank chief Jerome Powell told lawmakers on Thursday, even as he acknowledged that sharply higher interest rates may push up unemployment. "We really need to restore price stability ... because without that we're not going to be able to have a sustained period of maximum employment where the benefits are spread very widely," Powell told the U.S. House of Representatives Financial Services Committee. Powell's testimony marked a second straight day of grilling in Congress over the Fed's efforts to control inflation that, by the central bank's preferred measure, is running at more than three times its 2% target.

  • Yellen: Not all recessions alike, inflation can come down amid full employment

    ROSEBUD, South Dakota (Reuters) -U.S. Treasury Secretary Janet Yellen said on Tuesday she still views two quarters of negative growth as a good rule of thumb to indicate a recession, but believes it is possible to bring down inflation while maintaining full employment. "A shorthand of two quarters of negative growth has typically worked, and so a lot of people think of it that way," Yellen told reporters during a visit to the Rosebud Sioux Tribe reservation in South Dakota when asked how she would measure a recession.

  • Average long-term US mortgage rates inch up to 5.81%

    WASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week following last week's mammoth jump, the biggest in 35 years. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.81% this week, from last week's 5.78%. Last week's average — which jumped more than a half-point from the previous week — was the highest since November of 2008 during the housing crisis. One year ago, the average 30-year rate was 3.02%. The average rate on 15-year, fixed-rate mor

  • Toyota cuts stake in Uber by half, looks to maintain ties

    "The development of vehicles related to automated driving was one of the main objectives of Toyota's investment," Toyota spokesperson Shiori Hashimoto said in a statement, adding that the company still aims to maintain their alliance. The world's largest car maker by volume held 5.13 million shares of Uber as of March 31, down from the 10.25 million shares it owned a year earlier, Toyota revealed in a regulatory filing on Thursday. The Japanese automaker valued its current stake in Uber at 22.4 billion yen ($165.51 million).

  • Crypto Selloff: Has the Bottom Shifted After the Interest Rate Hike?

    The measures taken to control the inflation in the U.S. and Canada, including an increase in interest rates, can adversely impact crypto assets. The post Crypto Selloff: Has the Bottom Shifted After the Interest Rate Hike? appeared first on The Motley Fool Canada.

  • Nikola founder Trevor Milton faces new fraud charge

    NEW YORK (Reuters) -U.S. prosecutors on Wednesday added a new wire fraud charge to their criminal case accusing Trevor Milton, the founder and former chief executive of Nikola Corp, of defrauding investors by lying about the electric- and hydrogen-powered truck maker. The new charge concerns Milton's alleged effort to defraud the seller of Wasatch Creeks Ranch in Utah by making false and misleading statements about Nikola's products and business prospects. Milton previously pleaded not guilty to two counts of securities fraud and one count of wire fraud over statements he made from November 2019 to September 2020.

  • Lockheed can deliver F-35 to Germany from 2026, sees more orders in Europe

    Lockheed Martin said on Wednesday it could deliver first F-35 fighter jets to Germany in 2026 and expects more orders for the aircraft in Europe as Greece and the Czech Republic have expressed significant interest. "You'll hear more about it soon," J.R. McDonald, the vice president of F-35 business development at Lockheed Martin, told journalists at a news conference at the ILA Berlin Air Show trade fair. At the same time, the first F-35 aircraft Germany has ordered to replace its aging Tornado fleet in 2025-2030 could be delivered from 2026 depending on the outcome of talks with the government in Berlin, McDonald said.

  • Musk says Tesla's new car factories 'losing billions of dollars'

    SAN FRANCISCO (Reuters) -Tesla Inc's new car factories in Texas and Berlin are "losing billions of dollars" as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said in an interview published on Wednesday. The club divided its interview with Musk into three parts, the last of which was released on Wednesday. Musk said Tesla's Texas factory produces a "tiny" number of cars because of challenges in boosting production of its new "4680" batteries and as tools to make its conventional 2170 batteries are "stuck in port in China."

  • Alaska Airlines reaches contract deal with some workers

    SEATTLE (AP) — A union has reached a deal with Alaska Airlines for a two-year contract extension that provides substantial raises for 5,300 gate agents, stores personnel and office staff, as well as for ramp workers who load cargo. The Seattle Times reports the deal announced Wednesday does not cover a separate group of about 2,000 ramp workers, also represented by the International Association of Machinists, who work for the McGee Air Services subsidiary and handle baggage on passenger flights.

  • A dozen EU countries affected by Russian gas cuts, EU climate chief says

    A dozen European Union countries have now been affected by cuts to gas supply from Russia, EU climate policy chief Frans Timmermans said on Thursday, as the bloc faces a deepening energy standoff with Moscow. Russia slashed flows through its Nord Stream 1 pipeline to 40% of capacity last week citing problems with equipment, having already cut gas to Poland, Bulgaria, the Netherlands, Denmark and Finland over their refusal to comply with a new payment scheme. Timmermans said 10 of the EU's 27 member countries have issued an "early warning" on gas supply - the first and least severe of three crisis levels identified in EU energy security regulations.

  • TSX Today: What to Watch for in Stocks on Thursday, June 23

    The U.S. Federal Reserve chair Jerome Powell’s testimony before Congress could continue to keep TSX stocks highly volatile today. The post TSX Today: What to Watch for in Stocks on Thursday, June 23 appeared first on The Motley Fool Canada.

  • 3 TSX Growth Stocks to Buy for Your Retirement Fund Amid the Correction

    Investors with long-term financial goals should use this correction to buy top-quality stocks cheap. The post 3 TSX Growth Stocks to Buy for Your Retirement Fund Amid the Correction appeared first on The Motley Fool Canada.

  • Lockheed can deliver F-35 to Germany from 2026, sees more orders in Europe

    Lockheed Martin said on Wednesday it could deliver first F-35 fighter jets to Germany in 2026 and expects more orders for the aircraft in Europe as Greece and the Czech Republic have expressed significant interest. "You'll hear more about it soon," J.R. McDonald, the vice president of F-35 business development at Lockheed Martin, told journalists at a news conference at the ILA Berlin Air Show trade fair. At the same time, the first F-35 aircraft Germany has ordered to replace its aging Tornado fleet in 2025-2030 could be delivered from 2026 depending on the outcome of talks with the government in Berlin, McDonald said.

  • NAVIVA, A FOUR SEASONS RESORT, PUNTA MITA, MEXICO, THE BRAND'S FIRST ADULT-ONLY LUXURY TENTED RESORT IN THE AMERICAS, NOW ACCEPTING RESERVATIONS FOR DECEMBER 2022

    Naviva®, A Four Seasons Resort, Punta Mita, Mexico, the brand's first adult-only tented resort in the Americas, is now confirming arrivals for December 1, 2022 and beyond. A nature retreat featuring 15 luxury tents nestled amid 48 forested acres (19 hectares) on a private peninsula overlooking the Pacific Ocean, the unrivalled and unconventional Naviva experience creates an environment that fosters community, personal growth and knowledge enhancement.

  • U.S. wants automakers to collect more 'black box' crash data

    U.S. auto regulators said Wednesday they want to require automakers to collect more crash data from event data recorders (EDRs)- more commonly known as "black boxes." The National Highway Traffic Safety Administration (NHTSA) on Wednesday https://www.govinfo.gov/content/pkg/FR-2022-06-22/pdf/2022-12860.pdf proposed requiring black boxes to collect 20 seconds of pre-crash data at a higher frequency rate to help better understand the actions that lead to a crash. NHTSA currently requires five seconds of pre-crash data at a slower collection rate for vehicles with EDRs.

  • California emissions, carbon neutrality plan draws criticism

    SACRAMENTO, Calif. (AP) — Heat waves and drought gripping California highlight the urgency to slash fossil fuel use and remove planet-warming emissions from the air, a top state official said Thursday as discussions began on a new proposal for how the state will meet its ambitious climate goals. “I think every single Californian today knows that we’re living through a climate emergency,” said Jared Blumenfeld, secretary of the California Environmental Protection Agency. “And so what we’re doing

  • U.S. complaints against airlines soar as on-time arrivals fall

    U.S. consumers lodged more than quadruple the number of complaints against U.S. airlines in April compared with pre-pandemic levels as on-time arrivals fell, according to a report seen by Reuters. The U.S. Department of Transportation (USDOT) plans to announce later on Thursday that it received 5,079 complaints about airline service in April, up more than 320% over the 1,205 complaints received in April 2019. USDOT said 32% of complaints concerned refunds and 31% involved flights problems.

  • Wynn Resorts (Macau) S.A. and Macau SAR Government Enter into Concession Extension Agreement

    Wynn Resorts (Macau) S.A. (hereafter referred to as Wynn) is pleased to announce that it has entered into the Concession Extension Agreement with the Macau SAR Government, to extend the gaming concession of Wynn from June 26, 2022 to December 31, 2022.

  • Oil falls around 3% as investors eye U.S. Fed rate hikes

    NEW YORK (Reuters) -Oil prices tumbled around 3% on Wednesday as investors worried that rate hikes by the Federal Reserve could push the U.S. economy into recession, dampening demand for fuel. U.S. West Texas Intermediate (WTI) fell $3.33, or 3%, to settle at $106.19 a barrel. Oil prices pared losses, however, during the session after Fed Chair Jerome Powell pledged an "overarching focus" on bringing down inflation and reiterated that ongoing increases in the central bank's policy rate would be appropriate, with the pace depending on the economic outlook.