Category: Business

– Trump’s threat to fire Powell tanks greenback. – China Leaves benchmark rates unchanged – US dives across the board. USDCAD: open 1.3797, overnight range 1.3781-1.3851, close 1.3848, WTI 62.14 Gold 3394.83. The Canadian dollar soared in extremely thin overnight trading as most of the major trading centers were closed for Easter Monday. Those closures…

Tariffs are all that stock markets and consumers may think of. To avoid its negative impact, investors looked at Netflix’s (NFLX) strong subscription results in its last quarter. NFLX stock closed up by 5.63% last week. The firm posted $6.61 in GAAP EPS on revenue of $10.54 billion (+12.5% Y/Y). It is forecasting…

Advertisment The S&P 500 advanced on Thursday, the last trading day of the week, as traders tried to recover some of the steep losses suffered in the previous session. However, a massive drop in UnitedHealth sent the Dow Jones Industrial Average sharply lower. The 30-stock index crumbled 528.83 points, or 1.3%, to…

Energy stocks led Canada’s main stock index higher at open on Thursday, as investors took stock of U.S.-Japan trade negotiations, although sentiment remained fragile amid tariff uncertainties. The TSX Composite Index gained 107.72 points to begin the last day of a short week at 24,214.51. The Canadian dollar dipped 0.02 cents…

This past week, stock markets continued with the previous week’s rebound. By mid-week, the rally ended abruptly. The U.S. government said that Nvidia (NVDA) may not sell H20 graphics chips to China. NVDA stock fell by up to around 10% before closing down by 6.87% to $104.49. Macroeconomic conditions are also worsening. China…

The relentless tariff hikes that the U.S. is imposing on China are only one of many major headwinds. The U.S. is limiting Nvidia (NVDA) chip sales to China and stacking fees on China-built vessels of up to $3 million per U.S. port call. Temu, owned by PDD (PDD), cut its advertising in the…

The stock of Hertz Global (HTZ) rose 56% on news that activist investor Bill Ackman has taken a stake in the troubled car rental company. Bill Ackman is known for taking large positions in struggling businesses and then pushing for changes that benefit shareholders. Investors were obviously excited about the prospect of…

Federal Reserve Chair Jerome Powell says U.S. import tariffs and trade wars have complicated the outlook for both inflation and economic growth this year. Speaking to the Economic Club of Chicago, Powell said that tariffs pose a “challenge” to the U.S. central bank as they are likely to lead to both higher…

Chinese refiners are importing record amounts of Canadian crude oil after slashing their purchases of U.S. energy products by 90% amid an escalating trade war. America’s loss appears to be Canada’s gain as China sources more crude oil from Alberta’s oilsands region. Chinese crude imports from the Port of Vancouver soared to…

Credit card giant American Express (AXP) has reported strong financial results for this year’s first quarter as its largely affluent cardholders continue spending at a brisk pace. The New York City-based company reported earnings per share (EPS) of $3.64 U.S., which was ahead of the $3.47 U.S. expected on Wall Street. Profit was…