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Canadian Market Modestly Higher; Materials Shares Move Up
The Canadian market is modestly higher Monday afternoon thanks to some strong buying in the materials sector. Real estate and consumer discretionary stocks are among the other gainers in the market where the undertone remains fairly positive amid expectations the Federal Reserve will cut interest rate next month.
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Swiss Market Ends On Firm Note
After opening slightly down Monday morning, the Switzerland market recovered and kept edging higher as the day progressed and eventually ended on a firm note with several stocks posting solid gains in the final hour.
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European Stocks Close Higher After Cautious Session
European stocks closed higher on Monday, extending recent gains, amid hopes the Federal Reserve will start reducing interest rates from September, and on some monetary easing by central banks in Europe as well.
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U.S. Dollar Weakens On Rate Cut Hopes
The U.S. dollar was lower against its most major counterparts in the New York session on Monday, as dovish comments from Fed officials fueled optimism about a rate cut in September.
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U.S. Leading Economic Index Falls Much More Than Expected In July
A reading on leading U.S. economic indicators fell by much more than expected in the month of July, according to a report released by the Conference Board on Monday. The Conference Board said its leading economic index slid by 0.6 percent in July after dipping by 0.2 percent in June. Economists had expected the index to decrease by 0.3 percent.
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Lufthansa Extending Flight Suspensions To The Middle East Up To Aug 26
German flag carrier Deutsche Lufthansa AG (DLAKY) is again adjusting its services to the Middle East, Based on its current security analysis, is suspending its operations in the region up to and including Wednesday, 26. August, according to the information on Lufthansa flights on its website on Monday.
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U.S. Dollar Dropped Last Week As Rate Cut Hopes Gained
A softening in price pressures in the U.S. that renewed rate cut expectations aided the U.S. dollar's decline against major currencies during the week ended August 16.
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Major Fortune 500 Companies See AI As Potential Risk: Study
Artificial intelligence or AI, mainly more popular generative AI, is being considered as a potential risk factor by majority of Fortune 500 companies, according to a report from research firm Arize AI. The survey of major U.S. corporations' annual reports, "The Rise of Generative AI in SEC Filings" indicates that 281 companies among the total 500 now see that AI holds many risk factors...
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Thai GDP Growth Fastest In 5 Quarters
Thailand's economy expanded at the fastest pace in more than a year in the second quarter, underpinned by consumption, exports and tourism but the uncertainty over the digital wallet plan following the leadership change weighs on growth outlook. Gross domestic product grew 2.3 percent on a yearly basis in the second quarter after rising 1.6 percent in the first quarter.
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Bay Street Likely To Open On Subdued Note
Canadian shares may open on a subdued note Monday morning, weighed down by weak crude oil and gold prices, and a lack of positive cues from Asian and European markets.
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Guess? Appoints Dennis Secor As Interim CFO To Succeed Markus Neubrand
Guess?, Inc. (GES) announced Monday that Dennis Secor has been appointed Interim Chief Financial Officer, effective August 26, 2024. Secor is a proven finance leader with deep knowledge of the apparel industry, and has previously served as Guess? CFO from 2006 to 2012.
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Tiziana Life Appoints Ivor Elrifi As CEO
Biotechnology company Tiziana Life Sciences, Ltd. (TLSA) announced Monday the appointment of Ivor Elrifi as its Chief Executive Officer (CEO), effective immediately. Elrifi succeeds Gabriele Cerrone, who was acting CEO and will now remain in his role as Executive Chairman of the board.
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Estee Lauder Guides Q1, FY25 Well Below Estimates As Q2 Adj. EPS Misses View
While reporting financial results for the fourth quarter on Wednesday, Estee Lauder Cos., Inc. (EL) initiated its earnings, adjusted earnings and revenue growth guidance for the full-year 2025, well below estimates.. The company also provided outlook for the first quarter of fiscal 2025, well below estimates.
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