There we go. It’s here. President Donald Trump agreed to a phase-one trade deal with China, averting the Dec 15 introduction of new tariffs on $160 billion worth of Chinese goods.
The Fed left interest rates unchanged on Wednesday, and chairman Powell reinstated his belief that the labour market can improve further despite unemployment being at a half-century low. “Even though we’re at 3.5% unemployment, there’s actually more slack out there,” Powell said. “And the risks of using an accommodative monetary policy’’ to boost the labour market are “relatively low.’’
Jobs Are Here: US Economic data about job gains was released this morning, and unemployment matched half-century lows. Markets chased fresh highs, reaffirming that the Fed’s decision to hold rates was a reasonable one.
Return of the Tariff Man Thanksgiving is over, and tariff man strikes again! This time: the victim is France. The US proposed tariffs on some $2.4 billion in French products, a response to a tax on digital revenues in France that hits large American tech companies including Google, Apple, Amazon, and Facebook.
Happy Thanksgiving to our readers in the United States! The markets were closed in the US today, so there’s no major news coming in from Wall Street. Here in Canada, here’s what caught our eye:
Deal or No Deal? We’ve heard major news about the “phase one” deal being finalised and markets have traded up on looming optimism. But let’s not forget that Hong Kong is in the midst of a violent pro-democracy protest.
Big Bets on Volatility Bridgewater Associates, the world’s largest hedge fund has made a bet worth more than $1 billion that markets across the globe will fall by March next year. The bet essentially comprises put option trades against the S&P 500, and the Euro Stoxx 50.
Nordstrom beats earnings Shares of Nordstrom surged by over 10% during extended trading Thursday after the company reported fiscal third-quarter earnings that beat analysts’ estimates. Here are the stats:
Aramco IPO Oil giant Aramco is gearing up for a valuation between $1.6 – $1.7 trillion for its initial public offering. While this is short of the initial $2 trillion mark the crown prince hoped for, it still boasts the world’s largest IPO offering.
Aurora CEO: “We will be profitable before others” Aurora Cannabis Inc. Chairman Michael Singer made a statement today that the firm will reach profitability before “any of its peers”, however, declined to comment by when this will happen.
Cannapocalypse: Version 2 I think Canopy Growth ($CGC) and Aurora Cannabis ($ACB) should notify the makers of the Oxford English Dictionary that the word “earnings” has been redefined to mean “losses”. Both firms have been supposed “leaders” in the industry, and have let stakeholders down in the past quarter.