Connect with us

Business

NL Unemployment Rate Up Slightly in June – VOCM

Published

on

Business

U.S. stock markets move higher to start August; gold up – Business News – Castanet.net

Published

on


U.S. stock markets started the month higher as the price of gold briefly surpassed US$2,000 an ounce.

In New York, the Dow Jones industrial average was up 118.61 points at 26,546.93. The S&P 500 index was up 18.14 points at 3,289.26, while the Nasdaq composite was up 113.36 points at 10,856.90.

The S&P/TSX composite index was closed due to the Civic Holiday in many provinces.

The Canadian dollar traded for 74.44 US compared with 74.60 on Friday.

The September crude contract was up 17 cents at US$40.44 per barrel and the September natural gas contract was 15.3 cents at US$1.95 per mmBTU.

The December gold contract, which had the highest trading volume, was down US$3.20 at US$1,982.70 an ounce after peaking at US$2,009.50. The September copper contract was up 4.15 cents at nearly US$2.91 a pound.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

China's factory output grows at strongest pace in nearly decade. But weak spots remain – CNN

Published

on


A private survey of manufacturing activity rose to 52.8 in July, up from June’s 51.2 as factories in the country picked up new orders. That’s the quickest rate since January 2011. The Caixin/Markit manufacturing Purchasing Managers’ Index beat market estimates and marked a third straight month the index remained above 50, the level that separates expansion from contraction.
China's economy is growing again. That's good news for the rest of the world
The survey was the latest sign of improvement in China. The economy returned to growth last quarter after recording its worst three-month period in decades. And the country’s official PMI survey released Friday — which mainly covers larger business and state-owned firms — indicated a fifth consecutive month of expansion for the sector. (The Caixin poll is more focused on small and medium-sized companies.)
Stimulus measures in China have “paved the way for a period of above-trend growth in construction and industry,” wrote Julian Evans-Pritchard, senior China economist for Capital Economics, in a Monday research note. China promised in May it would throw 3.6 trillion yuan (roughly $500 billion) at its economy in extra stimulus measures, including allowing local governments to issue more bonds to build 5G networks, railways, and other infrastructure projects.
Evans-Pritchard added that the strength in manufacturing could offset struggles in other areas, including the services industry.
Despite the growth, Caixin’s survey revealed some weak spots. New export orders contracted for a seventh straight month as the coronavirus weighs on overseas demand. The labor market is also under strain, as firms maintain a cautious approach to hiring.
“We caution that manufacturing PMIs could moderate in coming months as recovery momentum softens across the world due to the protracted Covid-19 pandemic,” Nomura analysts wrote in a Monday research note.
The Nomura analysts cautioned that the Chinese economy still faces many challenges. It has still proven tough for Beijing to convince people to spend money again. And rising US-China tensions could hit both exports and manufacturing investment.
“We believe it is still too early for Beijing to unwind or roll back the easing and stimulus measures it introduced” in the first half, they said, adding, though, that Beijing might be reluctant to roll out more stimulus in the second half of the year.
Beijing has recently indicated that it may continue to focus on boosting demand at home. “Domestic circulation” as the main driver of future growth was the emphasis at a policy meeting last week held by the Politburo, the Communist Party’s top decision-making body.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Holiday open/closed – Quinte News

Published

on


It’s a holiday Monday today but as a civic instead of a statutory holiday, it will be business as usual for some.

While government offices and banks will be closed, large retail stores like Walmart, Giant Tiger, and grocery stores will be open, but could be on reduced hours. Drug stores will be open.

The Quinte Mall will be open from 10 until 6 today.

LCBO outlets will be closed today, while the Beer Store on Station Street in Belleville will be open as will the Beer Store in Trenton.

Belleville Transit will not run today.

Let’s block ads! (Why?)



Source link

Continue Reading

Trending