(Bloomberg) — U.S. stocks fluctuated as investors weighed the likelihood for a new spending bill, corporate earnings an escalation of tensions with China that could spill over into trade. The dollar weakened.
The S&P 500 pared earlier gains, led by declines in the energy, commercial services and consumer discretionary sectors. Futures retreated overnight on news that the U.S. ordered China’s Houston consulate to quickly close. Earnings remained in focus. Texas Instruments Inc. dropped after urging caution. Snap Inc. tumbled following a miss on its user-growth targets. Tesla Inc. and Microsoft Corp. are among the companies reporting later Wednesday.
Progress on combating the virus’s impact also contributed to sentiment. The U.S. reported more than 1,000 deaths Tuesday. Pfizer Inc. shares rallied after saying the government ordered up to 600 million doses of its vaccine candidate against Covid-19. Treasuries rose, while Silver continued its tear, climbing to the highest level in almost seven years.
“The market’s focused on the virus and employment right now,” Scott Wren, senior global market strategist for Wells Fargo Investment Institute, told Bloomberg TV. “But certainly, as we get down the road, trade tensions are going to have an effect.”
Fresh Sino-U.S. tension including new charges of Chinese hacking are adding to potential risks weighing on investors who recently drove global equities to a five-month high. After the success of a European rescue package this week, Senate Republicans and the Trump administration are struggling to reach consensus on another stimulus plan. The president warned the coronavirus crisis will probably worsen before improving.
“I’m more concerned going into the August, September period: what’s going to then be the next catalyst to take the broader market higher,” Andrew Sheets, a cross-asset strategist at Morgan Stanley, said on Bloomberg TV. It’s going to be “a tougher period for stocks,” he said.
Elsewhere, oil in New York dropped from a four-month high on signs of a surprise gain in U.S. crude stockpiles.
Here are some key events coming up:
Quarterly earnings gather steam, with reports due from Microsoft, Blackstone Group, Roche, Intel, Unilever, Canadian Pacific, Daimler, Hyundai and Mattel.The EIA crude oil inventory report is due Wednesday.U.S. weekly jobless claims come on Thursday.
These are the main moves in markets:
For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2020 Bloomberg L.P.
1 TSX Stock With a 12% DIVIDEND YIELD to Buy Today – The Motley Fool Canada
The year 2020 is continuing to be highly volatile for the Toronto Stock Exchange. In March, the index saw a sharp surge in volatility after the COVID-19 cases started rising in the country. While the market seems to be on a path of a sharp recovery, massive sell-offs every now and then (like the one we saw in the first week of September) continue to haunt investors.
Market volatility is likely to continue
Despite the broader market recovery in recent months, the ongoing pandemic-related uncertainties are expected to keep stocks highly volatile in the near term. Also, the upcoming U.S. general elections could add to this volatility.
That’s why it’s a good idea for Canadian investors to play it safe and start minimizing their risk exposure. Adding some stocks with good fundamentals from various industries is one way to minimize risks.
Role of dividends in minimizing risks
Another great option is to add some high-dividend-yielding stocks in your portfolio right now. Doing so would not only help you minimize your risk exposure but would also ensure that you continue to get regular income from your investments in the form of dividends.
If you don’t want to use this annual income yourself, you can reinvest these dividends in stocks to boost the overall investment return.
The top TSX dividend stock
Brookfield Property Partners (TSX:BPY.UN)(NASDAQ:BPY) is the highest-dividend-yielding stock on TSX. Currently, it has a solid double-digit dividend yield of nearly 12% — much higher than any other Canadian company.
It’s a Hamilton-based commercial real estate firm. Apart from its unbelievably attractive dividend yield, its strong fundamentals give you more reasons to buy Brookfield Property Partners stock and hold it forever.
In 2019, Brookfield Property Partners rose by 37% to about US$7 billion. The company reported US$1.95 billion adjusted net profit last year with an amazingly high net profit margin of 27.9%.
In the first half of this year, the COVID-19-related restrictions and shutdowns took a big toll on the real estate business and the housing market. As a result, Brookfield reported a US$1.2 billion net loss in the second quarter of 2020. Nonetheless, analysts expect the ongoing recovery in the real estate business to boost the company’s bottom line in the next couple of quarters. According to Bay Street analysts’ estimates, its 2020 net profit is likely to be at around US$104 million.
In 2021, Brookfield Property Partners’s net profit is expected to be over US$2.1 billion — much higher as compared to its 2019 profits. Overall, it proves that analysts expect the COVID-19-related headwinds to be temporary for the company, as the pandemic might not affect its long-term financial growth trend.
Brookfield Property Partners stock
On a year-to-date basis, Brookfield Property Partners stock is trading deep in negative territory with 37% losses. However, its stock has already started a sharp recovery in the third quarter as it has risen by 11.2% in the ongoing quarter so far. These gains are much higher as compared to only 5.3% quarter-to-date rise in the S&P/TSX60 Index.
That’s why you should consider buying this amazing dividend stock right now — especially when you’re getting it so cheap.
Don’t forget to CLAIM YOUR FREE LIST of great stocks to buy right now:
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.
Fool contributor Jitendra Parashar has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Property Partners LP.
Canadian airlines cancelling flights again as hoped-for bounceback in demand fizzles – CBC.ca
Rachel Farrell can now claim the unfortunate distinction of having two destination weddings called off in one year.
The 26-year-old event co-ordinator had booked a Transat flight out of Halifax for Feb. 15, 2021, as part of her planned nuptials in the Dominican Republic but was told this week the airline had cancelled the trip and would not make the journey until six days later.
She and her fiancé had first booked their trip package for last April, but it was nixed by Transat after the airline grounded its entire fleet due to the COVID-19 pandemic.
The problem is increasingly common, with Canadian airlines cancelling hundreds of flights as hopes for a spike in demand fall flat, snarling plans for the few passengers who remain.
“I was upset but understood that it wasn’t Air Transat’s fault, so we would wait until air travel resumed and rebook as soon as we could, since refunds weren’t an option,” Farrell said.
She did that in July, rebooking the flight for February using a travel credit based on the $37,000 she and her nearly two-dozen guests had paid for the package.
“Even though they knowingly chose to cancel my rebooked wedding group, they still won’t give us a refund,” Farrell said, noting the airline is again offering credit.
“My travel agent has told me that even if I rebook next week, they might still push the dates further…. I don’t know what to do now, and all I really want is to get married.”
Air Canada and WestJet have cancelled at least 439 flights so far this month, according to figures from flight data firm Cirium.
The cancellations come after airlines banked on a return of business travel and a continued uptick in leisure trips in the fall, said John Gradek, who heads McGill University’s Global Aviation Leadership program.
“They’ve decided since about the end of July to let loose on scheduled services and increasing the number of routes, at the same time hoping that the government will loosen up some of its restrictions. And that’s not been the case,” he said.
Now, airlines are cancelling the half-booked flights and consolidating passengers on remaining ones to cut costs.
“There has not been a take-up by the Canadian travelling public of those seats that are being offered by the carriers, so they’re cutting back those services significantly … and it’s being done piecemeal rather than being done wholesale,” Gradek said.
The letdown builds on an already devastating year.
Transat revenues fell by 99 per cent year over year in the last quarter, when the travel company operated flights for just one week.
Air Canada saw passenger revenues drop 95 per cent, prompting 20,000 layoffs as the airline burned through $19 million per day. WestJet has laid off about 4,000 employees since March.
Air traffic in August fell by two-thirds compared with a year earlier, according to Nav Canada, which operates air navigation across the country.
Flight consolidation does not always result in upended plans or wedding dilemmas.
“Sometimes airline schedules require minor surgery and sometimes major surgery,” said Mike Malik, head of marketing at Cirium.
The itinerary change can sometimes mean a departure delay of an hour rather than a week.
“We know that most travellers right now are not business travellers,” Malik said. “These are VFR travellers — visiting friends and relatives. So if you’re visiting friends and relatives, you probably don’t need a 7 a.m. flight for a 9 a.m. meeting in Toronto.”
The reassurance comes as cold comfort for Darlene Hatter, who was twice slated to attend her son’s destination wedding in Costa Rica, with both flights from Toronto now cancelled.
Her son, Robert Przybylski, 35, is now out $15,000, as well as the $2,800 each of his 85 guests shelled out, she said.
“It’s very frustrating,” Hatter said.
“The airlines in my opinion are taking advantage big time of this and stomping on the little people just because they can. The government needs to step up and tell these airlines to give people their refunds.”
How popular vacation destinations for Canadians are faring in the coronavirus crisis – CTV News
Many Canadians normally start planning vacation getaways this time of year, with winter just three months away. But in a pandemic year, when many would-be travellers are likely opting to stay home, airlines are trying to entice them by offering free COVID-19 insurance coverage on some flights.
The Canadian government’s official travel advisory still recommends Canadians avoid non-essential travel outside the country. But for those choosing to take their chances, which of the popular vacation spots have high cases? Which are doing relatively well? And which ones are even open to Canadian tourists?
According to a “trends in travel” report produced by the American online travel shopping company, Expedia, countries like Aruba, Mexico and St. Lucia have become “go-to travel destinations for Canadians in search of a warm beach vacation closer to home.”
The charts below track the COVID-19 statuses of some of the more popular island destinations, including some European countries that have become popular recently with Canadians, according to Expedia data that tracks “flight demand” among Canadian users.
Not seeing the charts below? Click here
When COVID-19 cases are measured per capita, Aruba tops the list as one of the countries worst hit by the virus. As of Sept. 16, the country reported 1,630 active cases with a total case number of 3,328, a significant increase from the 13 cases that were reported at the beginning of August. That’s out of a population of just under 107,000 people.
The country opened its borders to welcome international travel in June with some restrictions, after initially keeping them closed for several months to help limit the spread of the virus. Officials say more than 11,000 international travellers visited the island less than a month after reopening.
“As one of the most tourism dependent countries in the world, the impact of COVID has been a massive challenge,” CEO of the Aruba Tourism Authority, Ronella Tjin Asjoe-Croes told Travel Pulse in August. “Beach destinations rank high on travellers’ wish lists and we’ve seen a strong desire for people to travel to Aruba.”
An Air Canada flight from Aruba to Toronto on Aug. 8 carried a passenger infected with COVID-19.
Hotel resorts in Mexico have seen an increase in travellers, as the coronavirus continues to wreak havoc on nationals at home. Earlier this month, the country had to order 1.1 million additional death certificates after parts of the country ran out.
The country has topped more than 70,000 official COVID-19 related deaths, though experts believe the actual death toll is likely to be much greater due to discrepancies with the data.
There are currently no testing or quarantine requirements in place for travellers to Mexico. In May, the Los Cabos Tourism Trust (FITURCA) announced that it would introduce a five-phase plan to reactivate tourism in the area amid the pandemic. “The way we travel may have changed, but the experiences in Los Cabos remain unique,” Rodrigo Esponda, Director General of FITURCA said in a statement.
Health officials in Saint Lucia are taking a strict approach when it comes to letting tourists into the country. Before arriving, travellers must provide proof of a negative COVID-19 test, taken no more than seven days prior to their arrival.
Saint Lucia allowed tourism to resume on July 9. All visitors are required to submit a travel registration form advising officials of their vacation details no less than three days before their departure to the island. “The processing of passengers coming in has helped to protect the health and safety of our people,” Tourism Minister Dominic Fedee said, according to a report in the St. Lucia Times. Fedee called the screening facility at the country’s Hewanorra airpor world class.
Starting on Sept. 15, all tourists visiting a hotel in the Dominican Republic will be given a temporary travel insurance plan that will provide coverage for COVID-19 testing, lodging for prolonged stays in case of quarantine, and the cost for changing flights in the event of an infection. The insurance will be provided free of cost to the visitor until the end of December.
Officials are hoping the plan will help relaunch tourism in the country and help travellers feel at ease. Tourism is one of the main pillars supporting the Dominican economy and accounts for approximately eight per cent of the country’s total GDP.
Barbadian Prime Minister Mia Amor Mottley announced in July that the country had reached a COVID-19 milestone with no new cases over a period in June. Since then, the country has managed to maintain a relatively low number of new infections.
All travellers from high risk counties with more than 10,000 new cases are strongly encouraged to take a COVID-19 test within 72 hours of their departure to Barbados. Travellers from low risk countries with fewer than 100 new cases are asked to take a COVID-19 test within seven days of travel.
Travellers are also asked to complete an online embarkation and disembarkation card with personal health questions relating to COVID-19 symptoms. Once all the required steps are completed and supporting documents are uploaded travellers will receive a bar code via email. Upon arrival, travellers will be asked to produce their negative test results and bar code to clear immigration.
The islands opened its international airport on July 22, 2020. Since then there has been an uptick in the number of COVID-19 Cases in Turks and Caicos.
Canadian travellers are allowed to travel to Turks & Caicos without a tourist visa for stays up to 90 days. All travellers coming into the islands are required to obtain pre-travel authorization which involves providing a negative COVID-19 PCR test result, taken within five days prior to travel.
The islands currently have a nightly curfew until Sept. 30, 2020, from 8 p.m. to 5 a.m.
Belize is currently closed for international travel, but plans to reopen its airport on Oct. 1, 2020.
All travellers to the Central American nation must test negative for COVID-19 and only stay at approved hotels. Some of the pre-travel requirements involve downloading and registering on the “Belize Health app” that will help authorities manage your movement in the country and provide COVID-19 related information. Visitors must also take a PCR test within 72 hours of boarding their flight.
As of July 1, 2020, Canada became one one of the medium-risk countries from which travel to Curacao is allowed.
Canadians will have to show proof of a negative result from a certified COVID-19 PCR-test by uploading the results to an official Curacao website before departure for the country.
Canadians will also have to show proof they haven’t travelled to another high-risk country or have been in contact with a person who tested positively for COVID-19, within 14 days prior to arrival.
After a surge of cases in August, stay-at-home orders went into effect for the public. Hotels, villas, Airbnb accommodations, guest houses, temporary vacation housing, and charter vessels were told not to accept or book any new reservations until Sept. 19, 2020.
All travellers arriving on or before Sept. 18 are required to upload COVID-19 test results based on the case positive rate of the country or state they are travelling from. Travellers arriving after Sept. 18 must provide negative COVID-19 test results.
Apart from accepting those travelling from the European Union, from a country in the Schengen area, Spain is also accepting travellers from Canada, along with 11 other countries that have a reciprocal agreement with Spain for accepting travellers.
Canadians can travel to Spain without a visa for stays up to 90 days. All travellers are required to fill out a health control form before departing for Spain.
As of July 17, 2020, Canadians can travel to Germany.
Travellers entering Germany following a stay in a risk area within the past 14 days must self-isolate for 14 days. As of September, Canada is not a risk area for Germany and hence the self-isolation and testing requirements don’t apply to Canadians. But testing is encouraged.
Japan remains closed to international tourists and foreigners who’ve been to any of over 100 countries around the world — including Canada — within the past 14 days. The travel ban covers all foreign nationals, including those holding permanent resident status.
Japan is planning to gradually re-open its borders to business travellers and certain professionals from countries where COVID-19 has been contained. Students will then follow, and lastly, tourists, although no specific timeline has yet been provided.
Canadian travellers to Italy must observe a 14-day quarantine upon arrival. Canadians are among visa-exempt countries that must fill out an Italy Self-Declaration form that must be provided when boarding transportation including flights and trains in Italy.
As of July 1, Canadians were among 14 nationalities allowed to travel to Europe’s Schengen Area for up to 90 days without a visa. (The visa-free Schengen Area includes 27 EU nations plus four non-EU nations – Iceland, Liechtenstein, Norway and Sweden).
Thailand is still closed for travel and to all foreign nationals, with few exceptions. Only foreigners taking part in trade fairs, foreign film crews, and foreign visitors for medical and wellness services are being allowed to enter Thailand, but they’re subject to a 14-day quarantine and potential COVID-19 testing upon arrival.
The Thai government is planning to allow foreign tourists onto the island of Phuket starting October. But they must stay for at least 30 days and quarantine for the first 14 days of their visit.
Portugal opened its borders to Canadian on July 7, with no quarantine needed. Portugal claims to have successfully implemented ‘Clean and Safe’ – a searchable government certification and registry program — to assure visitors its hotels, rental cars and restaurants are following health guidelines.
India has limited international travel at the moment. Travellers with an emergency visa issued after March 22, for medical and humanitarian purposes, are eligible enter India. Canadians are allowed to enter under a special bilateral air travel arrangement (special flights) if they meet any one of the following requirements: At least one family member (parent, child or spouse ) is an Indian citizen; is on a business visa; a journalist visa; is a Canadian healthcare professional or health researcher.
Those who fall under these categories must file for a new visa before travel. Upon arrival, travellers must undergo seven days of paid institutional quarantine at their own cost, followed by seven days of isolation at home with self-monitoring of health. Travellers may be exempt from institutional quarantine by submitting a negative RT-PCR test report on arrival.
Canadians can freely travel to Switzerland, as it’s one of the approved countries listed by the Swiss government whose travellers don’t have to undergo mandatory testing or quarantines upon arrival.
All travellers should expect a health screening, however, upon arrival in the country.
Canadians were among nationalities allowed to enter Poland as of June, without any restrictions. Face coverings were no longer required outside as of May 30, but must be worn in public buildings and churches and on public transportation. Theatres are permitted to operate with 50 per cent occupancy.
Poland did, however, recently re-introduce a ban on flights from 46 countries, reacting to a spike in coronavirus infections. Canada was not among the countries affected.
With files from Jonathan Forani. Development from Jesse Tahirali and Mahima Singh
Are high churn rates depressing earnings for app developers? – TechCrunch
UK study finds new Covid-19 rapid test that gives result within 90 minutes – Deccan Herald
Venus is a Russian planet — say the Russians – CTV News
Silver investment demand jumped 12% in 2019
Iran anticipates renewed protests amid social media shutdown
Richmond BBQ spot speaks out about coronavirus rumours Vancouver Is Awesome
- Tech7 hours ago
PS5 Disc And Digital Pre-Orders Continue To Sell Out Nightmarishly Fast – Forbes
- Politics21 hours ago
Playing Politics With a Vaccine – The New York Times
- Tech23 hours ago
Upgrading to iOS 14 or iPadOS 14? Good, but do this first – CNET
- Tech22 hours ago
Here are the new features to check out on Apple's iOS 14 (PHOTOS) | Venture – Daily Hive
- Business21 hours ago
Speeding Tesla driver caught napping behind the wheel on Alberta highway – CBC.ca
- Business18 hours ago
Desperation sets in as CERB is set to end; these three Canadians are among the millions living on the bubble – Toronto Star
- Health23 hours ago
Staff and students from Fellowes High School tested for COVID-19 following school closure – The Sudbury Star
- Sports21 hours ago
Phil Mickelson Implodes with Opening 79 at U.S. Open: 'I Just Played Terrible' – Golf Channel