Positive Futures for TSX

Dec 05, 2019 (Baystreet.ca via COMTEX) —

Canada’s main stock index futures rose on Thursday, helped by gains in oil prices ahead of a meeting of the Organization of the Petroleum Exporting Countries where members are expected to agree on increasing production cuts.

The TSX Composite Index remained above water 5.16 points to finish Wednesday at 16,897.34

The Canadian dollar climbed 0.14 cents to 75.93 cents U.S. early Thursday

December futures were positive 0.2% Thursday.

TD Bank Group reported a 3.5% fall in fourth-quarter profit on Thursday, as Canada’s second-biggest lender by market value was hurt by higher provisions for loan losses and a restructuring charge.

Canadian Imperial Bank of Commerce reported quarterly profit that fell short of analysts’ estimates, hurt by higher provision for bad loans and slower growth at its domestic banking business.

National Bank of Canada cut the target price on Dollarama to $51.00 from $52.00

Canaccord Genuity raised the target price on National to $72.50 from $68.50

Scotiabank cut the target price on Royal Bank of Canada to $114 from $117

On the economic slate, Statistics Canada said this country’s exports rose 0.8% in October, while imports increased 0.5%. As a result, Canada’s merchandise trade deficit with the world narrowed slightly from $1.2 billion in September to $1.1 billion in October.

Later on this morning (10 a.m. EST), Western University’s IVEY Purchasing Managers Index rolls in for November.

ON BAYSTREET

The TSX Venture Exchange cleared breakeven by 1.38 points Wednesday to 539.70

ON WALLSTREET

U.S. stock index futures traded solidly higher in the pre-market on Thursday as Wall Street tried to build on its strong performance from the previous session.

Futures for the Dow Jones Industrials gained 68 points, or 0.3%, Thursday to 27,711

Futures for the S&P 500 added 7.25 points, or 0.2%, at 3,118.25.

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Dow gives back early gains despite optimism about U.S. – China trade deal with U.S.

U.S. stocks gave back early gains early Thursday, after opening higher with investors optimistic about prospects for a partial U.S.-China trade deal after Chinese officials indicated that delegates remain in “close contact”, but stocks are still on track for a weekly decline,

How are major benchmarks performing?

The Dow Jones Industrial Average DJIA, -0.10%   was down 78 points or 0.3% at 27,572 while the S&P 500 SPX, -0.03%  was off 8 points or 0.3% at 3,104 and Nasdaq 100 COMP, -0.06%  was down 24 points or 0.4% higher at 8,542.

On Wednesday, the Dow rose 146.97 points, 0.5%, to 27,649.78 while the S&P 500 index added 19.56 points, or 0.6%, to close at 3,112.76 and the Nasdaq Composite Index advanced 46.03 points, or 0.5%, to end the session at 8,566.67.

For the week, the Dow is on track to decline 1.4%, the S&P 500 is poised for a 0.9% weekly skid, while the Nasdaq Composite was on track for a decline of 1.1%, as of Thursday’s close.

What’s driving the market?

Investors were still optimistic about a Sino-American trade deal after a spokesman for China’s Ministry of Commerce, Gao Feng, said at a weekly briefing on Thursday that negotiations toward a so-called phase-one pact to cease tariff hostilities between the world’s largest economies are progressing. However, Feng didn’t provide further details on talks and emphasized that China wants a rollback of existing tariffs to be included as a part of any resolution.

The comments come after President Donald Trump, speaking at a meeting with German Chancellor Angela Merkel on Wednesday, described negotiations in upbeat terms ahead of a Dec. 15 deadline at which import duties will be placed on $156 billion in China goods.

President Trump earlier in the week had raised fears that a resolution may not be

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YPO Welcomes Cybersecurity Expert Brad Deflin as Keynote Speaker for the Gold Chapter in Milwaukee, WI.

YPO Welcomes Cybersecurity Expert Brad Deflin as Keynote Speaker for the Gold Chapter in Milwaukee, WI. – NASDAQ News Today – EIN News

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A service for global professionals · Thursday, December 5, 2019 · 504,050,461 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools News Topics Newsletters Press Releases Events & Conferences RSS Feeds Other Services Questions?

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3 Trade Picks Amidst Potential Trade War Escalation

Trade tensions between the US and the rest of the world may escalate, short and long .

Trade deal between the US and China may happen in 12 months’ time

The suffered its biggest single-day pullback since early October on Tuesday after President Trump suggested the trade war with China could continue well into 2020.

The blue-chip index fell 1%, its third straight session of losses, as investors sought less risky assets. The yield on the US Treasury note dropped by the biggest margin since August.

Stocks pulled back after Trump said he had “no deadline” for reaching a trade accord with China during a meeting with the North Atlantic Treaty Organization secretary-general. He added that he liked “the idea of waiting until after the election” to reach a deal.

The pronouncements jolted investors, who had expected the US and China to reach a “phase-one” trade deal this month. Such a move would have likely staved off further tariff increases and signalled to investors that the two sides are working to de-escalate tensions after more than a year of contentious negotiations.

That now seems less likely, leading investors to pull back from risky assets, such as stocks, and load up again on investments considered safer during periods of economic turbulence, including gold and bonds. Trade tariffs have weighed on corporate profits of manufacturers, tech and other companies all year, and a protracted trade fight will further eat into profit margins, analysts said.

It is extremely difficult to base any investment thesis around trade, given how challenging the protagonists are. It has been a fairly bullish risk environment, and markets are squeezing higher toward the end of the year. Thus, they are a little more vulnerable to bad news.

Tuesday’s losses also appeared to factor in Trump’s threat to expand tariffs

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Nike shares jump premarket after Goldman upgrades to buy, says China is key growth driver

Nike Inc. shares NKE, +1.30% rose 2.3% in premarket trade Thursday, after Goldman Sachs upgraded the stock to buy from neutral and added it to its Conviction List. “We believe Nike is a unique asset, where a strong brand combined with a disruptive and innovative strategy are positioning the business for multi year growth, expansion in margins, and higher returns on invested capital,” analysts led by Alexandra Walvis wrote in a note to clients. A bottom up analysis of the company suggests China is a key growth driver for the sporting goods company and Goldman is expecting that Nike can grow revenue in China at a high teens pace. Direct-to-consumer is the biggest driver, reaching 50% of the region’s revenue by 2023, according to Goldman estimates. The company can also expect support from growing purchasing power among younger consumers where the brand is clearly resonating. “Evidence of building pricing power, signs of operating leverage, accelerating shift to differentiated retail, sharply scaling app ecosystem, and a constructive global athletic growth backdrop,” are the key motivations for the upgrade, said the note. Nike shares have gained 26% in 2019, while the Dow Jones Industrial Average DJIA, -0.01%, which counts Nike as a member, has gained 18.5% and the S&P 500 SPX, +0.08% has gained 24%.

Apple's stock gains after Citigroup boosts price target by 20%, saying this 'Christmas is different'

Shares of Apple Inc. AAPL, +0.94% gained 0.7% in premarket trading Thursday, after Citigroup analyst Jim Suva “materially” increased is earnings estimates and boosted by price target by 20%, saying he believed “this Christmas is different” for the technology giant. Suva reminded that on Jan. 2, 2019, Apple issued its first sales warning since the iPhone was launched in 2007. “This year Apple is not facing supply yield production constraints nor a staggered iPhone product launch,” Suva wrote in a note to clients. And his research suggests the some of the “hottest” products across all segments during Black Friday and Cyber Monday were Apple AirPods and the Apple Watch 3 Series. Suva raised his stock price target to $300 from $250, and he expects fiscal first-quarter EPS of $4.58 and sales of $89.5 billion. That compares with the FactSet consensus for EPS of $4.51 and sales of $87.9 billion, while the average price target of the 43 analysts surveyed by FactSet is $258.03. The stock has climbed 66% year to date, while the Dow Jones Industrial Average DJIA, -0.11% has advanced 19%.

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Shineco, Inc. Regains Compliance with Nasdaq Continued Listing Requirement and Rules with Respect to Annual Meeting of Shareholders

Shineco, Inc. Regains Compliance with Nasdaq Continued Listing Requirement and Rules with Respect to Annual Meeting of Shareholders – NASDAQ News Today – EIN News

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A service for global professionals · Thursday, December 5, 2019 · 504,050,461 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools News Topics Newsletters Press Releases Events & Conferences RSS Feeds Other Services Questions?

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Methacrylic Acid Price Charts Now Available at Intratec Website

Methacrylic Acid Price Charts Now Available at Intratec Website – Business News Today – EIN News

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A service for global professionals · Thursday, December 5, 2019 · 504,046,797 Articles · 3+ Million Readers News Monitoring and Press Release Distribution Tools News Topics Newsletters Press Releases Events & Conferences RSS Feeds Other Services Questions?

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