Many Canadian small businesses reeling from losses due to the coronavirus outbreak may be ineligible for federal government and bank aid designed to help them survive, industry experts say, with several already shuttered or rapidly running out of cash.
COVID-19 triggers mass layoffs, nationwide hiring freeze. The numbers: Job openings in the U.S. fell slightly to 6.9 million in February just a month before the coronavirus upended the economy and all but certainly ended the longest expansion in American history. Available jobs are expected to sustain a record decline in March, when large parts of the U.S. economy began to shut down to slow the spread of COVID-19.
Canadian economic activity contracted at a pace that was much weaker than expected in March, Ivey Purchasing Managers Index data showed on Tuesday, in the latest sign of the damage to the economy from the coronavirus pandemic.
Canada's main stock index rose for a second straight session on Tuesday, as gains in oil prices boosted energy stocks, while signs of slowdown in coronavirus fatalities in major economies lifted sentiment. * The energy sector climbed 3.8%, tracking a rise in oil prices on hopes of global production cuts.
* BANK OF CANADA TO AUCTION C$4.5 BILLION OF 36-DAY T-BILLS ON APRIL 8 Source text for Eikon: https://www.bankofcanada.ca/stats/cars/results/tb_cm_15685_fcft_20200408_103000.html.
Canada's main stock index opened higher on Tuesday as a jump in oil prices boosted energy stocks, while signs of slowdown in coronavirus fatalities in major economies lifted sentiment. * At 9:32 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 314.31 points, or 2.31%, at 13,907.01.
The Canadian dollar
strengthened to an 11-day high against its U.S. counterpart on
Tuesday as investors welcomed a potential slowdown in the spread
of the coronavirus pandemic and hopes rose that the ...
By Julia-Ambra Verlaine and Tristan Wyatt. The Federal Reserve has calmed crucial parts of the markets, but other portions of the financial system remain stressed. The central bank announced aggressive measures over the past month, pledging to buy assets from Treasurys to corporate-bond funds to municipal debt.
Back in December, Art Cashin, the longtime NYSE trader, predicted that the stock market would be higher in 2020 despite some volatile stretches in January, March and July. Looks like he got that second part mostly right, anyway. To be fair, nobody could have predicted the coronavirus pandemic and the impact it's had on the economy and investors.
Canada's main stock index futures rose on Tuesday, as oil prices jumped on hopes for a global production cut and a slowdown in infections in Europe and the United States aided sentiment. June futures on the S&P/TSX index were up 2.06% at 7:00 a.m. ET. Canada's Ivey PMI data for March is due at 10:00 a.m. ET. The Toronto Stock Exchange's S&P/TSX closed up 5.06% at 13,592.70 on Monday.
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