Bombardier in focus
The S&P/TSX composite index gained 15.64 points to lead off Tuesday at 15,056.07. The index rose to within 80 points of its record high on Monday as positive investor sentiment spurred gains in its heavyweight financial and energy sectors.
The Canadian dollar was down 0.18 at
Potash Corp of Saskatchewan said on Monday it will rescind layoff notices affecting 50 workers at its
Bombardier said on Monday that it has laid off more than 100 staff and let go 110 contract workers in
Nine of the 14 Toronto subgroups were higher with information technology up 0.7%, while consumer discretionary and financial stocks climbed 0.3% each.
The five laggards were weighed by fading energy stocks, down 0.4%, while gold and consumer staples stumbled 0.3% each.
It's shaping up to be another roller-coaster day as investors sort through muddled data and news.
The Dow Jones Industrials gained 20.99 points to begin Tuesday at 16,802
The S&P 500 nicked up 2.98 points to 1,940.76, and the NASDAQ composite regained 19.57 points to 4,349.68, thanks to strong gains from Tesla and Netflix
Coca Cola had quite the morning after activist investor
Coke stock shot up as much as 1% at the opening bell on the news.
Amazon announced this morning that its new smartphone would only be carried by AT&T. Both stocks are up slightly.
In a reversal,
The company's shares are over 3% higher, building on momentum from yesterday's gains after the company said it would share its patent information. Tesla stock is up over 50% for the year.
Today's the first day of the U.S. Federal Reserve's big meeting, and investors hotly anticipated the latest inflation data from the
The so-called "core inflation" (which excludes volatile categories like food and energy) rose 0.3% from last month and 2% annually, also beating expectations.
Although the Fed is keeping a close eye on inflation and unemployment, this month's price data likely won't be enough to cause any immediate Fed changes. Fed Chair
Investors also got data this morning on housing starts. It wasn't pretty. There was 6.5% drop in starts, falling well short of expectations. Although the sector has been having a good year, some analysts are still worried.
Shares in homebuilders Toll Brothers, PulteGroup and Lennar all opened more than 1% lower.
Prices for 10-year U.S. Treasuries fell, raising yields to 2.65% from Monday's 2.60%. Treasury prices and yields move in opposite directions
Oil prices dipped
Gold prices faded
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