September 10th, 2015
Daily Market Commentary
- Capacity Utilization in Canada was reported at 81.3%, slightly below estimates of 81.7%.
- The New Housing Price Index in Canada was up 0.1% and 1.3% in month-over-month.
- Initial Jobless claims in the U.S. were reported at 275K, in line with estimates.
- The Bank of England held their key interest rate steady at 0.5%.
- Oil rose for the first time in four days in New York on speculation that declining U.S. crude production may whittle away a global surplus.
- Gold declined for a second day to near its lowest level in more than four weeks as jobs data in the U.S. pointed to a possible interest rate increase next week and on signs that India may slow imports.
- Iran cut pricing for all its oil grades for sale to Asia next month, according to two people with knowledge of the decision, trimming the premium on its main Light crude over the comparable Saudi blend to the narrowest since the end of 2012.
- Canadian Natural Resources Ltd. is making salary cuts as the worst slump in oil prices since the 1980s drags on. The company is reducing salaries by as much as 10 percent for workers in Calgary, its Canadian headquarters, and in Aberdeen, Scotland.
- Sun Life Financial Inc., Canada’s third-largest life insurer, agreed to buy an employee-benefits business from Assurant Inc. to expand in the U.S.
- A sweeping restructuring of Bell Media’s senior ranks continued Wednesday with the arrival of a new deputy to its sales arm and the departure of six senior managers with decades of combined experience at the company.(Globe)
- Yogawear maker Lululemon Athletica Inc. posted second-quarter profit that just topped analysts’ estimates after new tank tops and floral bottoms helped fuel sales.
- U.S. stock-index futures rose, signalling the world’s largest equity market will continue to buck the trend seen across shares in Europe and Asia.
- Apple Inc. unveiled a wide-ranging line-up of new products, including updated iPhones, a revamped TV set-top box for playing games and watching videos, and a bigger iPad designed for business customers.
- European shares fell for the first time this week amid renewed investor concern that the global economy hasn’t recovered enough to withstand higher U.S. interest rates.
- U.K. house prices will rise faster than previously anticipated this year and mortgage lenders, real-estate agents and industry bodies are warning the acute property shortage is set to worsen.
- Credit Agricole SA is poised to pay as much as $1 billion to U.S. regulators to settle allegations that it violated U.S. sanctions aimed at Iran and Sudan, according to a person briefed on the matter.
- Ericsson AB is trying to create a new licensing program so it can speed up technology adoption and increase sales and profitability from the burgeoning market of Internet-connected devices.
- Asian stocks dropped, after the regional benchmark index surged by the most in six years on Wednesday, as data on American job openings bolstered the case for higher U.S. interest rates.
*All information is taken from Bloomberg, unless otherwise noted.