The Daily Chase: Energy prices surge as strikes on gulf facilities escalate
BNN Bloomberg
Here are five things you need to know this morning.
Spending plans pressure Micron: Shares of Micron Technology traded lower in the pre-market. The tech company revealed plans to boost capital spending which drew concerns among investors. Still, Micron reported adjusted earnings well above estimates, with revenue of US$23.9 billion, also topping forecasts. Micron is benefiting from surging demand for AI chips.
Record results for Eli Lilly drug: Eli Lilly says its experimental diabetes drug Retatrutide delivered record weight loss in late-stage trials. Patients on the highest dose lost an average of fifteen point three per cent of body weight, outperforming existing treatments, while also improving blood sugar levels. The results strengthen Lilly’s position in the fast-growing obesity drug market, where it’s competing with Novo Nordisk.
TSX tech IPO prices below target: Metatek has priced its initial public offering below the deal’s marketing range, and the company is also raising less money than originally planned. The UK-based mapping software maker priced its IPO on the Toronto Stock Exchange at $5 per share, raising a total of $40 million dollars. The shortcoming seemingly reflects soft investor demand for IPOs in Canada, as well as problematic current market conditions.
AutoCanada swings to loss: AutoCanada will be a stock to watch on the TSX today after the company swung to a fourth-quarter loss on lower revenue. The Edmonton-based multi-location North American automobile dealership group says “performance was shaped by a more challenging market backdrop. Demand was affected by prior-period pull-forward activity, including the sunset of Canadian EV tax credits that benefited the fourth quarter of 2024 and tariff-related policy changes that drove stronger demand in the first half of 2025.”
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Two Canadian cargo ships are stuck in the Persian Gulf and unable to pass through the blocked Strait of Hormuz as the war in Iran continues.
U.S. stocks are sinking Wednesday after another climb for oil prices raised worries about inflation, which may have been primed to worsen even before the war with Iran began.
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
Every year, billions of dollars in tax credits and benefits go unclaimed in Canada. Here are five commonly missed tax
A key question hangs over the Federal Reserve’s two-day meeting that ends Wednesday: Will central bank policymakers still reduce short-term interest rates this year, now that the Iran war has sent oil prices higher and gas prices spiking? Or will they have to stand pat for months to see how the conflict plays out?
Wall Street followed global markets higher Wednesday and the price of U.S. crude fell eased despite a new barrage of attacks by Iran on its Gulf neighbors.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.
Every year, billions of dollars in tax credits and benefits go unclaimed in Canada. Here are five commonly missed tax
Oil prices resumed their rise on Tuesday because of the war with Iran, but U.S. stocks held steadier this time around.
Oil prices above $100 add pressure on inflation and growth, complicating rate decisions for central banks.
Closing arguments are set to kick off Tuesday in a trial pitting Elon Musk against Twitter shareholders who say the world’s richest man engaged in a pattern of deceptive behavior that misled investors as he attempted to back out of his US$44-billion deal to buy the social media platform in 2022.
Markets in Canada and the U.S. were up in late-morning trading on Tuesday despite the ongoing war in Iran.