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Nio bond offering, Block exec. changeup, Volkswagen stock: Top Stocks

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Stocks are trading in the red ahead of Instacart's (CART) IPO debut and the Federal Reserve's rate hike decision this week. Nio (NIO) shares fall as the company announced a $1 billion convertible bond offering, which will be partly used to repurchase some existing debt securities. Block (SQ) shares are down as the CEO of the Square payments platform Alyssa Henry will be stepping down from her role on October 2 with Co-Founder Jack Dorsey to take over her responsibilities for the interim. Volkswagen (VWAGY) shares react to the ongoing challenges this year amid the slowing German economy and the speculated trade war between China and the European Union. Yahoo Finance Live takes a look at some of the day's trending tickers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Tina Turner was a singer, songwriter and actress. Known as the "Queen of Rock 'n' Roll".The Canadian dollar strengthened to a one-month high against its U.S. counterpart on Monday as investors grew more optimistic about the global economy and ahead of inflation data that could sway the Bank of Canada's interest rate outlook. The loonie was trading 0.3% higher at 1.3488 to the greenback, or 74.14 U.S. cents, after touching its strongest level since Aug. 15, at 1.3472.

"The Canadian dollar is reflecting global growth optimism at the moment," said Adam Button, chief currency analyst at ForexLive.MONTREAL — BMO Financial Group plans to close its indirect retail auto finance business in order to reroute resources, as borrowers dig deep to stay on top of recent interest rate hikes. The decision will also trigger an unspecified number of layoffs in Canada and the U.S., the Bank of Montreal said.

 

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