TORONTO—Foreign investors are growing more worried that Canada’s federal election on Monday could result in a deadlock that hampers Ottawa’s response to the COVID-19 pandemic and further slows the economic recovery from the crisis. Polls show Prime Minister Justin Trudeau’s center-left Liberals virtually tied with the opposition Conservatives ahead of the Sept. 20 vote, raising…
Investors Tense up as Fears of Post-Election Gridlock Rise in Canada
Market Pulse: European Stocks Rise, Dollar Gains, Oil Inches Up
September 16, 2021
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European stocks rose on the morning of Sept. 16, oil prices inched up modestly after the previous day’s sharp gains, and the dollar ticked up as investors considered a mix of economic data and looked to next week’s Federal Reserve policy meeting that could provide clues for a rollback of stimulus measures. Oil prices inched…
Wall Street Gains as Crude Price Surge, Strong Economic Data Prompt Broad Rally
September 16, 2021
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NEW YORK—U.S. stocks closed higher on Wednesday as rising crude prices boosted energy shares and a swath of positive U.S. data suggested inflation has crested and the economic recovery remains robust, boosting investor sentiment. All three major U.S. stock indexes gathered strength as the session progressed, with economically sensitive cyclicals, smallcaps and transportation stocks leading…
Raytheon CEO Expects Inflation Pressure in Coming Years
Raytheon Technologies Corp., which has commercial aircraft makers Boeing and Airbus as customers, expects to face inflation pressure in the coming years, its chief executive officer said on Wednesday. With the cost of raw materials and precious metals going up, the company would see a little bit of pressure, CEO Gregory Hayes said at the…
Fading Retail Demand for US Stocks Could Hit S&P 500: Vanda
Retail investors’ appetite for U.S. stocks has fallen in the past week, data from Vanda Research showed on Wednesday, increasing the odds for a broader sell-off in the S&P 500 at a time when it is already about 2 percent off its record high. In the five days to Tuesday, retail investors bought $657.7 million…
Canada Inflation Hits 18-Year-High With Election Just Days Away
September 16, 2021
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OTTAWA—Canada’s annual inflation rate accelerated to an 18-year-high in August, driven by broad upward price pressures, data showed on Wednesday, just days before a hotly contested federal election that could see Prime Minister Justin Trudeau’s Liberals ousted. The rate rose to 4.1 percent in August, its fastest clip since March 2003, Statistics Canada said, beating…
Rare Earth Metal Prices Poised for More Gains: Analysts
September 15, 2021
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Rare earth metal prices have risen sharply over the past year while growing adoption of new technologies like electric vehicles is likely to send costs even higher, according to analysts. In the 12 months through September, the price of lithium carbonate—used in batteries, mobile devices, and spacecraft—surged 150 percent; the price of holmium oxide—used in…
Australia Business Conditions Show Promising Improvement in August: Survey
SYDNEY—A measure of Australian business conditions showed a welcome improvement in August as sales and profits weather coronavirus lockdowns in parts of the country, offering hope of a speedy recovery once restrictions ease. Tuesday’s survey from National Australia Bank showed its index of business conditions rose 4 points to +14 in August, recovering part of…
S&P 500 Snaps Losing Streak With Tax Hikes, Inflation Data on Horizon
September 14, 2021
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NEW YORK—The S&P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data. The Dow Jones Industrial Average also advanced, but the Nasdaq Composite Index ended lower. Investors favored value over growth, with stocks set to benefit most from a resurging economy enjoying…
Big Tech Cloud Services Could Face Resilience Test, Says Bank of England
September 14, 2021
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LONDON—Amazon.com Inc., Google Inc., and other tech companies providing cloud computing to banks in Britain may have to comply with minimum resilience standards and testing, a senior Bank of England official said on Monday. The Bank of England (BoE), along with regulators in Europe and the United States, is worried about the reliance of banks…
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