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Stocks Climb Toward Record With Rally in Big Tech: Markets Wrap – Yahoo Canada Finance

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(Bloomberg) — U.S. stocks climbed toward an all-time high as a rally in technology companies tempered a slide in banks. Treasuries rose.

The S&P 500 took aim at its February closing record, buoyed fresh Chinese stimulus overnight. The index twice popped above the high last week before fading. The Nasdaq 100 outperformed as a jump in Tesla Inc. and strong results from online retailer JD.com Inc. powered gains in tech shares. Big banks slid after Warren Buffett’s Berkshire Hathaway Inc. pared stakes in many of the industry’s top names.

The relentless rally in stocks has pushed the S&P 500 up more than 50% from its March lows amid large stimulus injections and better-than-expected economic and earnings data. Goldman Sachs Group Inc.’s David Kostin boosted his year-end price target for the gauge to 3,600 from 3,000, citing the firm’s above-consensus U.S. growth expectations keyed off positive news on the vaccine front. He joined the likes of Yardeni Research founder Ed Yardeni and RBC Capital Markets’ Lori Calvasina who’ve raised their forecasts in recent weeks.

Yet chances for a deal in Congress on a new, comprehensive stimulus package before September diminish with each passing day, leaving the U.S. economy limping and many businesses and millions of consumers coming up short. Democrats and Republicans are focused on their party presidential nominating conventions this week and next. Meanwhile, the almost daily drumbeat of tensions between the U.S. and China shows little sign of letting up, while touching on everything from the coronavirus to trade to defense issues to monetary policy.

On the economic front, a gauge of builder sentiment jumped to 78, a six-point gain from July that pushed it to the highest level since 1998, according to the National Association of Home Builders/Wells Fargo Market Index. The August number was better than the median analyst estimate of 74 and matched an all-time record in 35 years of the survey.

“Don’t bet against this bull market just yet,” Ryan Detrick, chief market strategist at LPL Financial LLC, said in a blog post about U.S. stocks. This year marked the 10th time that the S&P 500 peaked with a 100-day gain of more than 25% since the index debuted in 1957, according to data compiled by Bloomberg. After the earlier highs, the S&P 500 rose an average of 8.8% in the next 12 months. The index advanced all but once, in 1987-88.

Here are some key events coming up:

Earnings include Walmart Inc. and Home Depot Inc. on Tuesday. Target Corp. and Nvidia Corp. report on Wednesday. Results from Alibaba Group Holding Ltd. (20) and Qantas Airways Ltd. are due Thursday.Minutes of the latest FOMC meeting are due Wednesday.The EIA’s crude oil inventory report comes out Wednesday.The Joint Ministerial Monitoring Committee — the panel that reviews the OPEC+ agreement — is due to meet on Wednesday.U.S. jobless claims for the week ended Aug. 15 are due Thursday.China’s loan prime rate is due Thursday.Euro-area PMIs will be released on Friday.

These are some of the main moves in markets:

Stocks

The S&P 500 increased 0.3% as of 9:35 a.m. New York time.The Stoxx Europe 600 Index climbed 0.3%.The MSCI Asia Pacific Index advanced 0.1%.

Currencies

The Bloomberg Dollar Spot Index decreased 0.2%.The euro advanced 0.1% to $1.1859.The Japanese yen appreciated 0.4% to 106.17 per dollar.

Bonds

The yield on 10-year Treasuries decreased three basis points to 0.68%.Germany’s 10-year yield declined two basis points to -0.44%.Britain’s 10-year yield declined two basis points to 0.226%.

Commodities

The Bloomberg Commodity Index climbed 1.2%.West Texas Intermediate crude was unchanged at $42.01 a barrel.Gold increased 1.4% to $1,976.70 an ounce.

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Stop Asking Your Interviewer Cliché Questions

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Most job search advice is cookie-cutter. The advice you’re following is almost certainly the same advice other job seekers follow, making you just another candidate following the same script.

In today’s hyper-competitive job market, standing out is critical, a challenge most job seekers struggle with. Instead of relying on generic questions recommended by self-proclaimed career coaches, which often lead to a forgettable interview, ask unique, thought-provoking questions that’ll spark engaging conversations and leave a lasting impression.

English philosopher Francis Bacon once said, “A prudent question is one half of wisdom.”

The questions you ask convey the following:

  • Your level of interest in the company and the role.
  • Contributing to your employer’s success is essential.
  • You desire a cultural fit.

Here are the top four questions experts recommend candidates ask; hence, they’ve become cliché questions you should avoid asking:

  • “What are the key responsibilities of this position?”

Most likely, the job description answers this question. Therefore, asking this question indicates you didn’t read the job description. If you require clarification, ask, “How many outbound calls will I be required to make daily?” “What will be my monthly revenue target?”

  • “What does a typical day look like?”

Although it’s important to understand day-to-day expectations, this question tends to elicit vague responses and rarely leads to a deeper conversation. Don’t focus on what your day will look like; instead, focus on being clear on the results you need to deliver. Nobody I know has ever been fired for not following a “typical day.” However, I know several people who were fired for failing to meet expectations. Before accepting a job offer, ensure you’re capable of meeting the employer’s expectations.

  • “How would you describe the company culture?”

Asking this question screams, “I read somewhere to ask this question.” There are much better ways to research a company’s culture, such as speaking to current and former employees, reading online reviews and news articles. Furthermore, since your interviewer works for the company, they’re presumably comfortable with the culture. Do you expect your interviewer to give you the brutal truth? “Be careful of Craig; get on his bad side, and he’ll make your life miserable.” “Bob is close to retirement. I give him lots of slack, which the rest of the team needs to pick up.”

Truism: No matter how much due diligence you do, only when you start working for the employer will you experience and, therefore, know their culture firsthand.

  • “What opportunities are there for professional development?”

When asked this question, I immediately think the candidate cares more about gaining than contributing, a showstopper. Managing your career is your responsibility, not your employer’s.

Cliché questions don’t impress hiring managers, nor will they differentiate you from your competition. To transform your interaction with your interviewer from a Q&A session into a dynamic discussion, ask unique, insightful questions.

Here are my four go-to questions—I have many moreto accomplish this:

  • “Describe your management style. How will you manage me?”

This question gives your interviewer the opportunity to talk about themselves, which we all love doing. As well, being in sync with my boss is extremely important to me. The management style of who’ll be my boss is a determining factor in whether or not I’ll accept the job.

  • “What is the one thing I should never do that’ll piss you off and possibly damage our working relationship beyond repair?”

This question also allows me to determine whether I and my to-be boss would be in sync. Sometimes I ask, “What are your pet peeves?”

  • “When I join the team, what would be the most important contribution you’d want to see from me in the first six months?”

Setting myself up for failure is the last thing I want. As I mentioned, focus on the results you need to produce and timelines. How realistic are the expectations? It’s never about the question; it’s about what you want to know. It’s important to know whether you’ll be able to meet or even exceed your new boss’s expectations.

  • “If I wanted to sell you on an idea or suggestion, what do you need to know?”

Years ago, a candidate asked me this question. I was impressed he wasn’t looking just to put in time; he was looking for how he could be a contributing employee. Every time I ask this question, it leads to an in-depth discussion.

Other questions I’ve asked:

 

  • “What keeps you up at night?”
  • “If you were to leave this company, who would follow?”
  • “How do you handle an employee making a mistake?”
  • “If you were to give a Ted Talk, what topic would you talk about?”
  • “What are three highly valued skills at [company] that I should master to advance?”
  • “What are the informal expectations of the role?”
  • “What is one misconception people have about you [or the company]?”

 

Your questions reveal a great deal about your motivations, drive to make a meaningful impact on the business, and a chance to morph the questioning into a conversation. Cliché questions don’t lead to meaningful discussions, whereas unique, thought-provoking questions do and, in turn, make you memorable.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

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Canadian Natural Resources reports $2.27-billion third-quarter profit

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CALGARY – Canadian Natural Resources Ltd. reported a third-quarter profit of $2.27 billion, down from $2.34 billion in the same quarter last year.

The company says the profit amounted to $1.06 per diluted share for the quarter that ended Sept. 30 compared with $1.06 per diluted share a year earlier.

Product sales totalled $10.40 billion, down from $11.76 billion in the same quarter last year.

Daily production for the quarter averaged 1,363,086 barrels of oil equivalent per day, down from 1,393,614 a year ago.

On an adjusted basis, Canadian Natural says it earned 97 cents per diluted share for the quarter, down from an adjusted profit of $1.30 per diluted share in the same quarter last year.

The average analyst estimate had been for a profit of 90 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CNQ)

The Canadian Press. All rights reserved.

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Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago

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CALGARY – Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.

The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.

Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.

Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.

Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.

On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CVE)

The Canadian Press. All rights reserved.

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