Skip to main content

Featured

Iran–U.S. Gulf Strikes Escalate: What It Means for Your Canadian Wallet

  The Persian Gulf is on edge again — and this time, the ripple effects are showing up at Canadian gas pumps and grocery stores. On Wednesday, June 3, Iranian drones struck Kuwait's main airport, temporarily shutting it down and killing one person. The U.S. military struck back, targeting an Iranian military ground control station on Qeshm Island in the Strait of Hormuz. It is the latest in a series of back-and-forth military exchanges that are pushing a fragile ceasefire to the breaking point. What Is Happening Right Now? Iran's paramilitary Revolutionary Guard confirmed it targeted U.S. military facilities — including the headquarters of the Navy's 5th Fleet in Bahrain — in retaliation for American strikes on Iranian territory. The U.S. responded with strikes on Qeshm Island. Meanwhile, semiofficial Iranian news agencies reported that Tehran has halted communications with ceasefire mediators, saying it wants the fighting in Lebanon resolved before any broader truce can be...
Post a Comment
Read more

article

Labels

Netflix and Tech Earnings Lift S&P 500 to New Record

 

The S&P 500 index reached a new all-time high on Wednesday, as strong earnings reports from technology companies boosted investor confidence. Netflix was the star performer, surging 10% after adding more subscribers than expected in the fourth quarter of 2023. The streaming giant also announced plans to buy back up to $5 billion of its shares this year.

Other tech firms also delivered impressive results, such as ASML, the world’s largest supplier of chip-making equipment, which saw its orders more than triple in the fourth quarter. Microsoft also hit a record high, becoming the first company to surpass $3 trillion in market value.

The tech-heavy Nasdaq 100 index rose 0.7%, outperforming the Dow Jones Industrial Average, which fell 0.3%. The Dow was dragged down by losses in Boeing, Chevron, and Goldman Sachs.

Meanwhile, the TSX Composite index edged lower by 0.1%, as gains in energy and materials stocks were offset by declines in financials and industrials. The Canadian dollar weakened against the US dollar, as the Bank of Canada kept its key interest rate unchanged at 0.25%.

Investors are now looking ahead to the European Central Bank’s policy meeting on Thursday, where it is expected to maintain its ultra-loose monetary stance and signal its readiness to support the euro zone economy amid rising Covid-19 cases and lockdowns.

Labels:

Comments

Post a Comment