The Daily Chase: Nasdaq futures lead the way; Meta stocks soar
BNN Bloomberg
U.S. futures are pointing to a positive start when trading gets underway in North America.
U.S. futures are pointing to a positive start when trading gets underway in North America. The Nasdaq 100 futures are leading the way, up more than two per cent as investors react positively to earnings from Meta Platforms, which were out after the bell on Wednesday. Earnings will remain in focus today as other Nasdaq heavyweights – Amazon and Apple – report in after hours.
META STOCK SOARS
Shares of Facebook’s parent company Meta are up significantly in the pre-market trade after it added more users than expected in the first quarter. The company reported 1.96 billion daily active users, which is a main metric for advertisers that indicates activity on the platform, reversing a small decline in the previous quarter. Meta posted earnings that beat expectations even as revenue came in below estimates.
CP RAIL MISSES Q1 EXPECTATIONS
CP Railway will be a stock to watch today after the company reported lower profit and revenue in the first-quarter. The Calgary-based firm is citing bad weather, a labour dispute and a weak grain harvest for the drop in results. Canada’s second-largest railroad also said higher fuel costs weighed on its bottom line, something we heard from its competitor CN Rail when it reported earnings earlier this week. CP’s CEO Keith Creel also said he still expects a ruling from the U.S. Surface Transportation Board about its proposed acquisition of Kansas City Southern by early next year. The combination of the two companies will create the only railroad stretching through all of North America.
OTHER NOTABLE STORIES
Gold seen as overbought as Iran tensions ease, with falling oil prices lifting stocks and shifting investor sentiment toward risk assets.
Stock markets in Canada and the U.S. rallied after President Donald Trump said the United States has talked with Iran about a possible end to the war.
A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.
A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
Berkshire Hathaway, the conglomerate built by Warren Buffett, is buying a 2.49 per cent stake in Japanese insurer Tokio Marine Holdings for about US$1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.
Relief is ripping through financial markets after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war, despite Iran’s denials.
Asset management giant BlackRock’s CEO Larry Fink urged clients to stay invested despite ongoing market volatility, and highlighted that artificial intelligence is reshaping investment strategies and the broader economy.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
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.