The Daily Chase: U.S. inflation rattles markets; Telecom execs in the spotlight
BNN Bloomberg
Global financial markets are on U.S. inflation watch today. The August consumer price index is expected to have slowed to an 8.1 per cent annual rate from 8.5 per cent in July.
The mood in financial markets soured virtually instantaneously at 8:30 a.m. EDT after the inflation release revved up rate-hike fears. U.S. futures sank deep into the red and the U.S. dollar index reversed earlier losses. Which explains why the CAD-USD chart gives the impression the loonie went into a nosedive.
TELECOM EXECS IN THE SPOTLIGHT
There will be plenty of hot issues to cover when some of the country’s top telecommunications executives address a BMO conference this morning. Rogers’ CEO and CFO kick things off at 9 a.m. EDT (a nugget from yesterday’s filings to the Competition Tribunal: lawyers for Rogers and Shaw said the Competition Commissioner has gathered more than 2.6 million records in its review of the $20-billion takeover. “The result is an extensive and voluminous record that these parties and the Tribunal will have to grapple with,” they stated.) BCE’s CFO speaks at 9:30 a.m. EDT (reminder that we’re owned by BCE through its Bell Media division). And Corus Entertainment CEO Doug Murphy will have a chance to elaborate on last week’s ad-sales warning in his commentary at 11:45 a.m. EDT.
A large explosion at an oil refinery near the Texas coast shot plumes of smoke into the air and forced nearby residents to shelter in place, officials said.
Oil prices rise and stocks fall as war with Iran still advances despite Trump’s talk of negotiations
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
Bank of Montreal said on Tuesday it plans to roll out tokenized cash capabilities in collaboration with CME Group and Google Cloud, as it seeks to meet rising demand for real‑time payments amid a global shift toward around‑the‑clock trading.
From rolled steel to kitchen cabinets, Canadian businesses hit by targeted U.S. tariffs are struggling to respond as the trade war drags into its second year.
Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war.
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
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.