The Canadian market opened marginally up on Tuesday, and then kept moving higher and higher as the session progressed, as data showing a smaller than expected increase in U.S. produced prices raised hopes of a 50-basis point interest rate cut by the Federal Reserve in September. The benchmark S&P/TSX Composite Index ended with a gain...
Indian shares eked out modest gains on Wednesday as investors awaited the release of U.S. CPI report due later in the day that could allow the Federal Reserve to begin cutting interest rates in September. Heightened geopolitical tension in the Middle East between Israel and Iran also rendered the underlying mood somewhat cautious. The benchmark...
Performance Food Group Co. (PFGC) announced Wednesday that it has entered into a definitive agreement with Cheney Bros., Inc., pursuant to which PFG will acquire Cheney Brothers for $2.1 billion in cash. Cheney Bros. is an independent broadline foodservice distributor based in Riviera Beach, Florida and owned by the Cheney family and Clayton Dubilier &...
Shares of Cardinal Health, Inc. were gaining more than 7 percent in the pre-market activity on the NYSE after the healthcare company on Wednesday raised its fiscal 2024 adjusted earnings forecast above the market after reporting a profit in its fourth quarter, compared to prior years loss. The improved results reflected strong revenues from both...
The slower-than-expected deceleration in the UK wage growth supports the case for gradual interest rate cuts by the Bank of England later this year after a quarter-point reduction early this month. Average earnings excluding bonus climbed 5.4 percent in the three months to June from the previous year, slower than the 5.8 percent rise in...
Alaska Airlines (ALK) announced Tuesday an investment in JetZero, a company developing a new blended-wing body (BWB) aircraft that will provide up to 50% less fuel burn and lower emissions. The investment reflects Alaskas commitment to advance new technology that will benefit the future of aviation, including those that enable the airlines path to net...
The British pound weakened against other major currencies in the European session on Wednesday, after data showed that the U. U.K. inflation turned softer than anticipated in July. The slower-than-expected inflation for July, spurred expectations among traders about further interest-rate cuts by the Bank of England (BoE). Data from the Office for National Statistics showed...
New Zealands central bank lowered its key interest rate for the first time in four years as domestic activity showed a more pronounced slowdown amid continuous decline in inflation. The Monetary Policy Committee of the Reserve Bank of New Zealand, led by Governor Adrian Orr, unexpectedly decided to cut the Official Cash Rate by 25...
Gold futures snapped a five-session winning streak and settled notably lower on Wednesday. Investors assessed the likely move of the Federal Reserve in the wake of the latest data on producer price and consumer price inflation. The dollars recovery from a mid morning setback weighed on the yellow metal. The dollar index, which dropped to...
The U.S. dollar was lower against its major counterparts in the New York session on Wednesday, as consumer inflation moderated in July, reinforcing expectations for a rate cut from the U.S. Federal Reserve in September. Data from the Labor Department showed that the consumer price index rose by 0.2 percent in July after edging down...