2021 Tail Risks, Bottleneck Fatigue, Economy Splinters: Eco Day – BNN

Published

4 years ago

December 22, 2020

(Bloomberg) — Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

From slow-to-materialize U.S. stimulus to post-Brexit trade disruptions, runaway Indian inflation and a Chinese bond market meltdown, there’s a lot that could go wrong, writes Tom Orlik
Container shipping, the backbone of the global trading system, shows signs of fatigue as the pandemic descends into its darkest days
The U.S. economy has splintered along state and city lines, with the speed of the rebound largely dependent on the magnitude of local business restrictions to combat an unending surge in Covid-19 cases
Nine months of U.K.-EU trade talks are hanging in the balance, while 40,000 lemons have disappeared into the chaos of U.K. ports. In a rare positive, France will start to reopen critical trade and transport links by midnight. Meantime, Chancellor of the Exchequer Rishi Sunak is looking to pandemic programs to help out businesses if talks fail
India’s economic activity showed signs of stabilizing in November, even as concerns mount over fresh virus outbreaks
Thailand will likely keep its benchmark interest rate unchanged at a record low while monitoring the recent rally in the baht
Prime Minister Justin Trudeau’s government rejected a plan by China’s Shandong Gold Mining Co. to buy a gold miner that operates in the Canadian Arctic, potentially inflaming a diplomatic feud
Robert Lighthizer has built a career on being a wily contrarian. So it shouldn’t be a surprise that President Donald Trump’s trade czar is going out tilting at a consensus among mainstream economists
Israel’s brittle governing coalition collapsed over a budget crisis, sending the election-fatigued country to its fourth vote in two years
Swedish overall confidence levels ended a seven-month climb as the nation tightened restrictions to battle a surge in Covid-19 infections
Japanese companies have pared back year-end bonuses by the most since the global financial crisis, putting additional pressure on consumer spending amid signs of a slowing economic recovery
Pakistan said it got debt payment relief from its creditors including from the G-20, a move that will help Prime Minister Imran Khan’s government bolster its finances and foreign-exchange reserves
With deals to secure more vaccines than it needs and legislation to distribute it for free, Japan seems to have its plans in place. Yet a tense public history with vaccines and a cautious approval process has some worried over how quickly the country can return to normal

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S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

Published

1 day ago

September 13, 2024

Anne Joseph

TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Statistics Canada reports wholesale sales higher in July

Published

2 days ago

September 13, 2024

Anne Joseph

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

Published

2 days ago

September 12, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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