Contracts on the Nasdaq index rose about half a percent, with Tesla up about eight per cent in premarket New York trading, after the firm beat profit estimates and sales, and chief executive Elon Musk predicted a rise in vehicle sales this year. Its report, alongside those from International Business Machines Corp., relieved some of the sting of Microsoft Corp.'s dire sales warning that had sapped tech shares earlier in the week.
Thompson sees the January stock surge as overdone, given recession risks ahead, but did not discount further short-term gains because “if you do get a five per cent pullback, people who missed the rally may think 'shall we just bite the bullet now rather than wait for another five per cent fall?” The euro retreated after six days of gains versus the greenback, though it is likely to enjoy continued monetary policy support, as several European Central Bank rate-setters spoke in favor of further hefty policy-tightening over coming months.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla seeks rapid output boost as profit beats estimates - BNN BloombergTesla Inc. reported better-than expected profits in the latest quarter, signaling strength as it faces growing questions about carbuyer demand for its all-electric vehicle lineup.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Magna International says margins for 2022 will be lower than expected - BNN BloombergMagna International says its margins for 2022 are expected to come in lower than it forecast.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
The Daily Chase: Competition Bureau appeals Rogers-Shaw deal; Magna cuts 2022 outlook - BNN BloombergCompetition Commissioner Matthew Boswell is getting one last chance to try to scuttle Rogers Communications' planned $20-billion takeover of Shaw Communications, with the Competition Bureau's appeal set to be heard before the courts later this morning. Apparently BNNs parent company was interested in purchasing Shaw but lost out to Rogers. Bells coverage of this story has been so biased with a tone hoping the deal gets blocked. So unprofessional. Boo bell! crybabybell
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Metro raises dividend, reports Q1 profit and sales up from year ago - BNN BloombergMetro Inc. raised its quarterly dividend as it reported a profit of $231.1 million in its latest quarter, up from $207.7 million in the same quarter a year earlier. Take from you give to the rich. Normal. pricegouging metro LoblawsON More and more will steal at grocery stores.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Element Fleet Management names CIBC exec Laura Dottori-Attanasio as next CEO - BNN BloombergElement Fleet Management says president and chief executive Jay Forbes will retire this year and will be replaced by CIBC executive Laura Dottori-Attanasio.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Economists expect one final rate hike by Bank of Canada before holding - BNN BloombergEconomists predict the Bank of Canada will raise interest rates for an eighth consecutive time with a final “insurance” hike on Wednesday before easing off its aggressive tightening policy cycle.
Source: BNNBloomberg - 🏆 83. / 50 Read more »