Canada's main stock index rose on Wednesday as a raft of upbeat corporate earnings lifted investor sentiment and expectations of a swift economic recovery, though lower oil prices capped further gains.
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The U.S. dollar rose on Wednesday from a seven-week low hit overnight, as
broad weakness in stock markets triggered by a resurgence of COVID-19 cases in India and Japan encouraged a
retreat to the ...
* Netflix (NFLX) falls as subscriber growth slows. * Verizon (VZ) shares fall after Q1 results. * Indexes up: Dow 0.43%, S&P 0.26%, Nasdaq 0.06% By Shreyashi Sanyal and Devik Jain. The S&P 500 and the Dow Jones indexes were higher on Wednesday after sliding for two straight sessions, while the Nasdaq remained muted as Netflix (NFLX) kicked off quarterly earnings for technology behemoths with a disappointing report.
The Bank of Canada held its key overnight interest rate at a record low 0.25% as expected on Wednesday and said it would cut its weekly net purchases of government of Canada bonds to a target of C$3 billion from C$4 billion. In a statement, the central bank said it remained committed to keeping the interest rate unchanged until economic slack was absorbed.
Lebanon's loss of correspondent banking relationships would accelerate the country's economic decline, Moody's said in a note emailed on Wednesday. The country's central bank last week called on the caretaker government to urgently adopt a plan to limit spending on subsidies to protect remaining foreign currency reserves.
Mexico's peso recovered from steep
losses on Wednesday, while most other Latin American currencies
were muted as surging COVID-19 cases hurt appetite for
risk-driven assets.
Canada's main stock index opened flat on Wednesday as a drop in oil prices offset the boost from positive corporate earnings. * At 9:31 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 5.73 points, or 0.03%, at 19,035.05.
Canada's annual inflation rate doubled to 2.2% in March, in part due to a statistical difference caused by the sharp deceleration last year during the coronavirus pandemic and because of rising energy prices, Statistics Canada said on Wednesday. Analysts polled by Reuters had expected the annual rate to rise to 2.3% in March, up from 1.1% in February.
Wall Street's main indexes opened lower on Wednesday as Netflix kicked off quarterly earnings for technology behemoths with a disappointing report, while concerns about a surge in global coronavirus cases hit demand for equities.
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