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Tech Giants Lift Markets as Investors Brace for Fed Decision

Both the S&P 500 and the Nasdaq hit their highest levels in more than a week on Monday. Wall Street finished the day on a strong note, with major U.S. indexes advancing as investors positioned themselves for a pivotal week of corporate earnings and a closely watched Federal Reserve meeting. Market Momentum The S&P 500 and Nasdaq extended their recent winning streak, marking their longest run of gains in weeks. Confidence was fueled largely by heavyweight technology stocks, which continued to attract buyers ahead of their upcoming earnings reports. What’s Driving the Optimism Companies such as Apple, Microsoft, Alphabet, Broadcom, and Meta helped propel the market higher. Their performance has been central to the broader rally, especially as enthusiasm around artificial intelligence remains a dominant theme in tech valuations. Eyes on Earnings and the Fed Investors are now turning their attention to earnings guidance from these major firms, which could determine whether t...
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How Loblaw and Metro are coping with food price inflation and sustainability challenges

 


Two of Canada's largest grocery chains, Loblaw and Metro, have reported increased sales and profits for the third quarter of 2023, despite facing public criticism over their role in food price inflation. 

Loblaw posted a net income of $421 million, up 12% from the same period last year, while Metro saw its net earnings rise 9% to $191 million. Both companies attributed their strong performance to higher demand for food and pharmacy products amid the ongoing pandemic, as well as their investments in e-commerce and digital initiatives. 

However, they also acknowledged the challenges of rising costs and supply chain disruptions that have contributed to higher food prices for consumers. Loblaw and Metro have recently added a new title to their executive teams: Chief Sustainability Officer, who will be responsible for overseeing their environmental and social impact strategies.



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