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.
