toward further declines in the wake of yesterday’s selloff. At last check, futures south of the border are pointing to something in the neighbourhood of one per cent declines in the wake of the S&P 500’s worst showing since Dec. 15 in yesterday’s trade. Almost seems that we’re oscillating between “bad news is good news” on the economic front and “bad news is bad news” with the latter playing out yesterday on the retail sales and producer price index front, sending stocks lower.
Hootsuite is replacing chief executive officer Tom Keiser and slashing 70 jobs – about seven per cent of its workforce – as the company undertakes its third round of layoffs in the last six months. TD Bank says it expects its stake in Charles Schwab to translate into $285 million worth of reported equity in net income in its fiscal fourth quarter.Notable data: Wholesale Trade, U.S. Initial Jobless Claims, U.S. Housing Starts & Building Permits, Philadelphia Fed Index
The Western central banks have been clear on their intentions. And everyone else is playing the game of when are they going to pause. It’s like the perma bulls and perma bears. At some point, they will be right and crow about it. Meanwhile, they have missed everything in between.
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