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Market Wrap: pre-opening session |
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U.S. market futures fall after Donald Trump's speech. The U.S. President said his country is on track to complete all military objectives in Iran very shortly but warned that the U.S. will hit Iran "extremely hard" over the next 2 to 3 weeks.
On Wednesday, U.S. stocks extended their rebound to a second session, with the Nasdaq 100 advancing a further 279 points (+1.18%) to 24,019, and the S&P 500 up 46 points (+0.72%) to 6,575.
The Dow Jones closed 224 points higher (+0.48%) at 46,565.
On the stat front in the U.S. the weekly initial jobless claims are estimated at 213,000. Separately, trade deficit for February is expected at 60 billion dollars.
In Canada trade deficit for February is estimated at 1.8 billion Canadian dollars.
European indices decline, led down by tech stocks.
Asian indexes reversed initial gains to close red following Trump's speech. On the stat side, Australia's trade surplus for February totaled 5.7 billion Australian dollars, above 1.5 billion Australian dollars estimated.
WTI crude oil prices surge to currently trade around 106.00 dollars.
Gold and silver both drop.
Bitcoin is badly oriented, trading around 66,000 dollars.
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Exxon Mobil (XOM), Chevron (CVX) and other oil producers rise as oil strongly jumps. On the other hand, airlines such as Delta (DAL) lose ground.
Estee Lauder (EL), a cosmetics company, is making progress regarding a potential merger with Spanish peer Puig, according to Bloomberg.
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On Wednesday, the S&P/TSX Composite Index gained 0.58% to 32,957 and the S&P/TSX 60 Index added 0.44% to 1,913.
GFL Environmental (GFL), a waste management services company, raised quarterly dividend by 10% to 0.0169 dollar per share.
Wheaton Precious Metals (WPM), a mining company, agreed to buy a gold and silver stream on the Jervois Project in Australia through a partnership with KGL Resources. The company will pay KGL total upfront cash consideration of 275 million dollars.
Methanex (MX), a methanol supplier, was cut to "sector perform" from "outperform" at RBC.
Transcontinental (TCL/A), a marketing services company, agreed to buy PDI Group "to accelerate growth of its in-store marketing activities".
D2L (DTOL), an online learning platform, reported quarterly adjusted Ebitda down to 8.1 million dollars from 9.4 million dollars a year earlier. Sales rose 5% to 55.8 million dollars.
Groupe Dynamite (GRGD)'s, a retailer, target price was raised to 118 dollars from 110 dollars at Barclays.
Goeasy (GSY)'s, a non-prime consumer lender, target price was cut to 39 dollars from 50 dollars at Jefferies.
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