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Abortion Rights Loom Larger in Investment Decisions – The New York Times

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2 years ago

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In recent years, funds focused in investments that have a social impact have emerged to bet on start-ups advancing reproductive health and innovation. After the Supreme Court decision in June to overturn the constitutional right to an abortion, individual investors turned their attention to reproductive health care.

Almost immediately after the court’s decision, Alinea, an investing app geared toward young adults, saw a new investment focus on companies that support reproductive health, said Alinea’s founders, Eve Halimi and Anam Lakhani.

“When the news came out, one of the community members created a pro-abortion-rights playlist” — as in a basket of stocks — “with companies that were supporting the cause,” Ms. Halimi told the DealBook newsletter. “We saw a rush of activity.”

That first, spontaneous user-created playlist included companies that were taking a stand to support abortion access, rather than those connected to women’s health, echoing public demand for businesses to weigh in on the issue.

Later, users asked for an updated version of the playlist, and the founders adopted that same standard. It now includes about 50 firms — Levi’s, Apple, Pfizer and Tesla among them — that have taken a stand against the overturning of Roe v. Wade or help pay for employees’ access to abortion services, or both.

Data from the platform shows reproductive rights looming large in investment decisions. But location and gender matter. One month after the decision, Alinea had about 10,000 female users. Of those:

  • About 11 percent are in Texas, where abortion access was threatened, and slightly more than half are now investing in companies that support abortion access.

  • About 25 percent are in New York City, where reproductive rights remain robust, and only about 40 percent of them are investing in companies that support abortion access.

  • More than 30 percent of new app users now cite the change in reproductive rights as a reason for their interest in both investing and financial independence.

  • No male users have invested in playlists that are made up of companies supporting abortion rights.

Reproductive rights at the corporate level are the newest frontier for the environmental, social and governance investing framework, according to Confluence Philanthropy, a network of investment managers, shareholder activists and others that convened a panel discussion on the matter in June. Expect a flurry of proxy proposals as activists plan to push deeper into the corporate arena. Previous efforts have failed, but E.S.G. experts are certainly telling companies to start preparing.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

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

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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2 weeks ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

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

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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2 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

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

The Canadian Press. All rights reserved.

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