Connect with us

Business

Stock market news live updates: Stocks jump as investors eye Trump's health – Yahoo Canada Finance

Published

 on



<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Stocks rose Monday, recovering after Friday’s losses, as market participants continued to closely monitor developments around President Donald Trump’s health.” data-reactid=”16″>Stocks rose Monday, recovering after Friday’s losses, as market participants continued to closely monitor developments around President Donald Trump’s health.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Dow gained more than 290 points, or about 1%, shortly after 9:30 a.m. in New York, to follow equities in Europe higher. Shares of Regeneron Pharmaceuticals (REGN) gained more than 5%, with Trump having received the company’s experimental antibody drug as part of his treatment.” data-reactid=”17″>The Dow gained more than 290 points, or about 1%, shortly after 9:30 a.m. in New York, to follow equities in Europe higher. Shares of Regeneron Pharmaceuticals (REGN) gained more than 5%, with Trump having received the company’s experimental antibody drug as part of his treatment.

The president remains at Walter Reed National Military Medical Center after first being taken to the hospital on Friday to be treated for Covid-19. White House physician Dr. Sean Conley said during a press conference Sunday that they had treated him with the steroid dexamethasone, which is typically used for more severe cases of Covid-19, and admitted that Trump had been given supplemental oxygen on Friday, after saying a day earlier that Trump had not been treated with oxygen.

Still, the president’s medical team has maintained an upbeat tone on the trajectory of Trump’s health. One of his doctors during the briefing also said the president could be released from the hospital as soon as Monday. Trump briefly left the hospital on Sunday to wave to supporters from his motorcade.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="“We’re getting great reports from the doctors,” Trump said in a video posted to Twitter Sunday. “It’s a very interesting journey. I learned a lot about Covid.”” data-reactid=”20″>“We’re getting great reports from the doctors,” Trump said in a video posted to Twitter Sunday. “It’s a very interesting journey. I learned a lot about Covid.”

While uncertainties still remain over Trump’s recovery and skepticism lingers over the developments publicized by the White House, the blend of more positive comments around Trump’s health helped to diffuse some of markets’ anxiety from late last week.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Market participants also continue to closely eye updates around the election in light of Trump’s condition, and his at least temporary inability to campaign in the last few weeks leading up to Nov. 3. A new poll released Sunday by&nbsp;NBC News and the Wall Street Journal&nbsp;conducted after last week’s presidential debate, but before news emerged that Trump had tested positive for Covid-19, found that former Vice President Joe Biden was leading Trump 53% to 39% nationally among registered voters in the survey.” data-reactid=”22″>Market participants also continue to closely eye updates around the election in light of Trump’s condition, and his at least temporary inability to campaign in the last few weeks leading up to Nov. 3. A new poll released Sunday by NBC News and the Wall Street Journal conducted after last week’s presidential debate, but before news emerged that Trump had tested positive for Covid-19, found that former Vice President Joe Biden was leading Trump 53% to 39% nationally among registered voters in the survey.

9:30 a.m. ET: Stocks open higher, recovering Friday’s losses

Here were the main moves in markets, as of 9:30 a.m. ET:

  • S&P 500 (^GSPC): +23.51 points (+0.7%) to 3,371.95

  • Dow (^DJI): +209.89 points (+0.76%) to 27,892.7

  • Nasdaq (^IXIC): +99.18 points (+0.92%) to 11,178.01

  • Crude (CL=F): +$1.89 (+5.1%) to $38.94 a barrel

  • Gold (GC=F): +$5.60 (+0.29%) to $1,913.20 per ounce

  • 10-year Treasury (^TNX): +4.3 bps to yield 0.737%

8:20 a.m. ET: Regal Cinemas owner to temporarily suspend operations at all US, UK theaters, impacting 45,000 employees

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Cineworld (CINE.L), the parent-company of Regal Cinemas, announced early Monday that the company would be temporarily suspending operations across its 536 Regal theaters in the US and 127 Cineworld and Picturehouse theaters in the UK starting on Thursday.” data-reactid=”37″>Cineworld (CINE.L), the parent-company of Regal Cinemas, announced early Monday that the company would be temporarily suspending operations across its 536 Regal theaters in the US and 127 Cineworld and Picturehouse theaters in the UK starting on Thursday.

“As major US. markets, mainly New York, remained closed and without guidance on reopening timing, studios have been reluctant to release their pipeline of new films,” the company said in a statement. “In turn, without these new releases, Cineworld cannot provide customers in both the US and the UK – the company’s primary markets – with the breadth of strong commercial films necessary for them to consider coming back to theaters against the backdrop of COVID-19.”

The closures are expected to impact about 45,000 employees, the company added.

7:18 a.m. ET Monday: Stock futures jump after doctors say Trump may leave hospital as soon as Monday

Here were the main moves in markets, as of 7:18 a.m. ET:

  • S&P 500 futures (ES=F): 3,366.00, up 26.75 points or 0.8%

  • Dow futures (YM=F): 27,794.00, up 229 points or 0.83%

  • Nasdaq futures (NQ=F): 11,359.00, up 125.75 points or 1.12%

  • Crude (CL=F): +$1.74 (+4.70%) to $38.79 a barrel

  • Gold (GC=F): -$3.30 (-0.17%) to $1,904.30 per ounce

  • 10-year Treasury (^TNX): +2 bps to yield 0.714%

Traders with masks work on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid
Traders with masks work on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. REUTERS/Brendan McDermid

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Follow Yahoo Finance on&nbsp;Twitter,&nbsp;Facebook,&nbsp;Instagram,&nbsp;Flipboard,&nbsp;LinkedIn, and&nbsp;reddit.” data-reactid=”62″>Follow Yahoo Finance on TwitterFacebookInstagramFlipboardLinkedIn, and reddit.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Find live stock market quotes and the latest business and finance news” data-reactid=”63″>Find live stock market quotes and the latest business and finance news

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For tutorials and information on investing and trading stocks, check out Cashay” data-reactid=”64″>For tutorials and information on investing and trading stocks, check out Cashay

Let’s block ads! (Why?)



Source link

Business

Ontario premier wants to take 'surgical approach' to next group of shutdowns in hot spots – CTV Toronto

Published

 on


TORONTO —
Ontario Premier Doug Ford said he wants to take a “surgical approach” to shutdowns in the province’s COVID-19 hot spots when deciding if regions need to remain in a modified Stage 2.

“We need to take a surgical approach,” Ford said, while making an announcement in Barrie, Ont. on Thursday. “I’ve always said this, some regions are very large geographical areas.”

Ford wouldn’t say whether Toronto, Peel Region, Ottawa or York Region would be moved back into Stage 3 of the province’s reopening plan. All four regions were placed into a modified Stage 2 for 28 days because of their rising infection rate. 

The modified Stage 2 forces indoor dining to close, as well as movie theatres and gyms.

The 28-day period expires for Toronto, Peel Region and Ottawa on Nov. 7, while York Region is a week later.

Ford used Peel Region as an example of why he thinks a surgical approach needs to be taken, saying while Mississauga and Brampton have seen an increase in COVID-19 cases, Caledon has not seen numbers spike at the same rates.

“Caledon, they’re complaining because the numbers are escalating in other regions,” Ford said. 

Ford said he’s “working with all the mayors and all the different regions” to decide on what restrictions will be lifted or kept in place when the 28-day period ends.

“We’re working on coming up with a safe plan with collaboration with all the local mayors and local health teams and then we’ll make a decision before this 28 days runs out.”

“The good news is we are seeing a little bit of a decline,” Ford said about COVID-19 cases in Ontario. “But make no mistake about it … do not let your guard down. It happened before and it just spiked up.”

Ford’s comment on the decline in cases comes as Ontario’s seven-day rolling average hit 899, which is a record high since the pandemic began.

Ontario’s four COVID-19 hot spots continue to have the highest number of COVID-19 infections.

Of the new cases reported on Thursday, 420 were in Toronto, 169 were in Peel Region, 95 were in York Region and 58 were in Ottawa.

Province launches ‘Ontario Made Consumer Directory’

Meanwhile, the Ontario government announced on Thursday that it has launched a new directory to make it easier for people to shop and support local businesses amid the COVID-19 pandemic.

The Canadian Manufactures and Exporters (CME), with the support of the Ontario government, launched the “Ontario Made Consumer Directory.”

Ford said that promoting Ontario-made products will help support “good-paying jobs” in the future. 

People can find made-in-Ontario products on the government’s new website SupportOntarioMade.ca

“I’m proud to support this new CME campaign to encourage Ontarians to look for the ‘Ontario Made’ label when shopping,” Ford said. 

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Warning: Don't Save in Your TFSA! Do This Instead – The Motley Fool Canada

Published

 on


Too many Canadians are still saving in their Tax-Free Savings Account (TFSA)! However, the Bank of Canada is planning to keep the benchmark interest rate at close to zero at least until 2023. This means that if you put money in a savings account or guaranteed investment certificate (GIC), you won’t make much.

Instead of saving in your TFSA, you should consider investing in it. Currently, the best three-year GIC rate is offered by EQ Bank and going for 1.15%. The long-term average Canadian stock market returns are 7% — six times what you would make from the GIC.

You can potentially make even greater returns by placing your money in specific stocks. If you like consistent income, you would be interested in Toronto-Dominion Bank (TSX:TD)(NYSE:TD) and TC Energy (TSX:TRP)(NYSE:TRP).

Both are wonderful businesses, but their stocks have sold off recently, making them attractive long-term investments that should outperform market returns over the next few years.

TD stock provides a 5.4% dividend

Because of pandemic disruptions to the economy, higher credit losses are expected at the Canadian banks this year. TD stock has become particularly attractive among the big Canadian banks given its quality and growth potential on an economic rebound, especially with its meaningful exposure to the U.S. retail banking market.

TD stock’s correction of 22% in the last 12 months is the perfect opportunity to buy for an elevated dividend yield of 5.4%. This is 35% more income than its appealing yield of 4% in a normal economy.

Importantly, the stock is undervalued for long-term investment. In a normal year, TD generates revenues of about $38 billion and net income of more than $11 billion. Inevitably, this year, its revenues and earnings are going to be lower.

At about $58.50 per share at writing, the compelling stock can deliver total returns of about 15% per year over the next three to five years. Furthermore, you can expect its dividend to increase during that period.

TC Energy offers a 6.1% dividend

TC Energy is a resilient business that provides essential services in the energy sector. It just reported its third-quarter results today. Management highlighted that the company’s operations, flows, and utilization levels remain in line with historical and seasonal norms.

Year to date, its revenues only dipped 3% and its comparable EBITDA essentially stayed flat against the same period in the prior year. Moreover, its earnings per share actually climbed 15% to $3.55, putting its payout ratio at 68% for the period.

TC Energy’s defensive business performance doesn’t really warrant the stock’s decline of 20% in the last 12 months. It also has a secured capital program of $37 billion from 2020 to 2023 to grow its business. About $5 billion of the projects are expected to complete this year.

At about $52.90 per share at writing, the attractive stock can deliver total returns of about 15% per year over the next three to five years. A dividend increase of 5-7% per year should be no problem for the Canadian Dividend Aristocrat.

The Foolish takeaway

Understandably, Canadians might want to be conservative with their money-management strategies during the pandemic. Investing in blue-chip dividend stocks like TD stock and TC Energy stock is as conservative as it gets in the stock investing world.

Take a closer look at the businesses and consider investing in their undervalued stocks in your TFSA for outsized tax-free income and returns in the long run.

Speaking of attractive stocks to check out…

Just Released! 5 Stocks Under $49 (FREE REPORT)

Motley Fool Canada‘s market-beating team has just released a brand-new FREE report revealing 5 “dirt cheap” stocks that you can buy today for under $49 a share.
Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune.
Don’t miss out! Simply click the link below to grab your free copy and discover all 5 of these stocks now.

Claim your FREE 5-stock report now!


Fool contributor Kay Ng owns shares of The Toronto-Dominion Bank and TC Energy.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Shoppers' privacy violated at major Canadian malls: Privacy commissioners – CBC News: The National

Published

 on


[unable to retrieve full-text content]

  1. Shoppers’ privacy violated at major Canadian malls: Privacy commissioners  CBC News: The National
  2. Cadillac Fairview collected millions of images of shoppers at malls across Canada: Privacy watchdog  CP24 Toronto’s Breaking News
  3. Cadillac Fairview secretly collected personal information from 5M shoppers across Canada: privacy commissioners  KitchenerToday.com
  4. Mall real estate company collected 5 million images of shoppers, say privacy watchdogs  CBC.ca
  5. Cadillac Fairview collected 5 million shoppers’ images without consent  Yahoo Canada Finance
  6. View Full coverage on Google News



Source link

Continue Reading

Trending