TSX slides at the open as financials, energy weigh

Stock futures pointed to a lower opening for Canada's main stock index on Wednesday as oil prices declined after data showed an increase in USA crude stockpiles and the Organization of the Petroleum Exporting Countries reported a rise in production. The S&P 500 and Nasdaq fell 0.10% and 0.41%, respectively.

However, fortunes turned last Friday after a drop in Apple's AAPL.O shares triggered a selloff and led to the tech sector's biggest two-day decline in almost a year. The sector cut steeper losses from earlier in the session, as did the benchmark S&P 500. Amazon.com (AMZN.O) weighed the most on the consumer discretionary index (.SPLRCD). Nike was off 3.3 percent after the company said it would cut about 2 percent of its global workforce and eliminate a quarter of its shoe styles.

"You seem to be losing some momentum in the big growth names that have led the market so far this year", said Walter Todd, chief investment officer at Greenwood Capital Associates in Greenwood, South Carolina.

While the rate hike was widely expected, a clutch of weak economic data, including Wednesday's poor inflation numbers, raised questions whether the USA economy was strong enough to withstand further tightening. "But if data on consumer spending and business investment is good over the next few weeks, then markets may take the tightening of USA monetary policy in stride", CIMB economist Song Seng Wun said.

The Dow edged down 14.66 points or 0.1 percent to 21,359.90, the Nasdaq fell 29.39 points or 0.5 percent to 6,165.50 and the S&P 500 dipped 5.46 points or 0.2 percent to 2,432.46.

Financials and energy, sectors that should thrive during economic expansions, also sold off. Financials slipped 0.4 percent and energy fell 0.7 percent.

The gainers were utilities .SPLRCU , real estate .SPLRCR and telecom services .SPLRCL , whose slow but steady growth makes them attractive during periods of uncertainty.

Life is Strange: Before the Storm Gameplay Unveiled During E3 2017
Check out the trailer for Life Is Strange: Before the Storm below. "Chloe means a lot to me", she said in another tweet . Before The Storm's first episode will be released on August 31st for PS4, Xbox One, and PC.

Kevin Durant, Stephen Curry lead Warriors to NBA title
The 89 points Golden State finished with that evening would stand as its lowest total of the season with Durant in the lineup. I vaguely do and the only thing I had remotely to do with them on this never-ending journey was running into on Mr.

One Love Manchester Concert Had More Than 10 Million Viewers
Her powerfully charged performance resonated most in the hearts of those watching in the stadium and at home. Miley Cyrus surprised fans when she began singing before coming out from the wrong side of the stage.

FILE PHOTO: A Google search page is seen through a magnifying glass in this photo illustration taken in Berlin on August 11, 2015.

Asian equities turned cautious on Thursday after the US Federal Reserve raised interest rates for the second time this year, as was widely expected by markets.

But the recent slowdown in inflation has become a red flag for markets, which doubt the Fed's ability to hike a second time before year end.

Kroger KR.N was down 17.6 percent after the supermarket chain operator slashed its full-year profit forecast.

Asian shares turned mixed on Wednesday as investors everywhere awaited clarity on the Federal Reserve's future path for US policy after a likely rate rise later in the day.

Declining issues outnumbered advancing ones on the NYSE by a 1.63-to-1 ratio; on Nasdaq, a 1.78-to-1 ratio favored decliners.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

UK's Theresa May holds talks to seal government alliance
Ministers have already said that the Queen's Speech, scheduled for 19 June, may have to be delayed because of the ongoing talks. Business groups also favour this option that would lead to fewer tariffs on trade.

More trouble for Trump's travel ban; friend suggests he might fire Mueller
Ruddy was at the White House on Monday to meet White House aides, but did not speak with the president, Spicer said. She asked whether Scarborough's sources flatly denied Ruddy's claim, but her co-host said he trusted his sources.

DUP head: Talks with UK Conservatives going well
He told Sky News that the reality of the election result meant that May and her government would need to reach beyond party lines. Scottish Conservative leader Ruth Davidson said the government should put economic growth at the heart of its Brexit strategy.

Britain's snap election backfires on Prime Minister Theresa May
However, being in the shadows helped her avoid the flack from Britain's vote to leave the European Union, despite backing Remain. With 649 of 650 seats declared, the Conservatives had won 318 seats, short of the 326 needed for a parliamentary majority.

UN Security Council sanctions more North Korean entities
This was the first resolution that both the U.S. and China , one of North Korea's allies, have agreed upon since U.S. Without giving details, Mattis also said the United States would take further steps to protect the USA homeland.

Rishabh Pant, Kuldeep Yadav picked for ODI's against Windies
Rohit Sharma and Jasprit Bumrah were left out of the Indian team that will tour the West Indies after the ICC Champions Trophy. The fast bowling unit looks solid with Bhuvneshwar Kumar , Umesh Yadav , and Mohammed Shami , with Pandya providing backup.

Kiwis reach match point in America's Cup challenger finals
New Zealand twice protested but their calls were rejected by the umpires out on the water and Sweden grabbed the win. The young Kiwi helmsman was quick to put his hand up and admit he was at fault for the poor finish.

Turnbull wants changes to parole after shootout
Last month, an Australian coroner criticised a decision which allowed bail to a gunman behind Sydney's deadly cafe siege in 2014. What is clear here is that we face a growing threat from Islamist terrorism in Australia in our region and around the world".

Ubisoft unveils Starlink video game with toys that attach to your controller
Starlink: Battle for Atlas releases in the fall of 2018 for the Xbox One X, PlayStation 4, PC, and Nintendo Switch. Then you can change the parts on the spaceship, and those changes show up in the game on the fly.

House Majority Whip shot at congressional baseball practice
Republican Mo Brooks from Alabama told the United States news broadcaster that the Louisiana Congressman sustained "a hip wound". Before that, he was a member of the Louisiana House and the Louisiana Senate, serving from 1996 to 2008.

Qatar foreign minister denounces 'unfair', 'illegal' sanctions
Qatar has begun shipping cargo through Oman to bypass the blockade and show it can survive the diplomatic row with its neighbours. Typically, cargo for Qatar stops at Dubai's massive deep-water Jebel Ali port, then gets put on smaller boats heading to Doha .

Twitter changes its look, again
The change of the shape of profile pictures is to make it clear to users what is being said and who is saying it. In Twitter's browser view now, much of what used to have hard lines will seem updated with soft, rounded edges.

Johnson on course, opens with a par
Mary Ruediger was visiting her parents who live near Erin Hills golf course when the blimp went down nearby Thursday. The first responders transported the injured pilot to a waiting medical helicopter that had landed in the field.

Gunman shoots top Republican leader at baseball practice; suspect arrested
The House will have a bipartisan members-only briefing at 11:15 a.m.at the Capitol, which will be led by the Sergeant-at-Arms. And they went over and talked to the Speaker. "I hear another "blam" and I realize that there's an active shooter, " he said.

Man who shot congressman was living in van, called a loner
Also wounded was former congressional aide Matt Mika , who now works for Tyson Foods in its Washington office. He was squeezing off five or six rounds at a time and, according to the report, fired about 50 shots in all.


More News

News
More News