The Daily Chase: Ontario reopens for business; Spotify CEO speaks out

U.S. futures contracts are pointing to a mixed open; and if last week taught us anything, it’s that the early moves are no indication of how trading days will end.

U.S. futures contracts are pointing to a mixed open; and if last week taught us anything, it’s that the early moves are no indication of how trading days will end. To wit: it was one week ago that we saw the Nasdaq rally into the green after being down as much as 4.9 per cent. And this week, without the distraction of a Jerome Powell news conference, will be about fundamentals. A slew of names from Big Tech and Big Oil (including in Canada) dominate the earnings calendar. We’ll set the stage today.

BACK TO BUSINESS IN ONTARIO

Restaurants in the province can again welcome diners and movie theatres can open their doors to patrons as certain public health restrictions are loosened in the province as of this morning. We’ll check in with Cineplex Chief Executive Ellis Jacob at 1:15 p.m.

SPOTIFY DAMAGE CONTROL

The streaming service’s founder and chief executive said yesterday “we’ve heard the criticism,” and so Spotify is going to add an advisory to podcasts about COVID-19. Joe Rogan wasn’t named in the update from Daniel Ek; but clearly he’s paying attention. In a lengthy video posted to his Instagram account, Rogan applauded the move, acknowledged he doesn’t “always get it right,” and said he’s “very sorry” that Neil Young and Joni Mitchell pulled their music from Spotify to protest his podcast. Spotify shares lost 11 per cent of their value as the clash played out last week.

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