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Market Wrap: pre-opening session |
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U.S. market futures are broadly steady after major U.S. stock indexes closed mixed yesterday. The Nasdaq 100 rose 79 points higher (+0.27%) at 29,252, while the S&P 500 slipped 21 points (-0.28%) to 7,482, and the Dow Jones was down 576 points (-1.09%) to 52,348.
U.S. President Donald Trump said the ceasefire agreement with Iran is "over", accusing Iranian authorities of violating the deal. U.S. military later said it was launching fresh strikes on Iran aimed at keeping the Strait of Hormuz open to traffic.
U.S. main stocks indexes closed red yesterday. The Dow Jones retreated from its record high, dropping 130 points (-0.25%) to 52,925. The S&P 500 fell 33 points (-0.45%) to 7,503, and the Nasdaq 100 declined 524 points (-1.77%) to 29,173.
On the stat front in the U.S. the weekly initial jobless claims are expected at 218,000. Separately, existing home sales are estimated to grow 0.7% month-on-month in June after a 3.2% rise in May.
European indices trade mixed after falling sharply yesterday. On the stat plan, Germany's trade surplus increased to 19.1 billion euros in May from 14.7 billion euros a month earlier.
Asian indices were mixed. Regarding stats China's inflation rate eased to 1.0% year-on-year in June, below 1.1% estimated, while producer price index rose 4.1% as expected.
WTI crude oil prices consolidate below 75 dollars.
Gold stabilizes around 4,100 dollars.
Bitcoin attempts to rebound above short-term technical support at 61,500 dollars.
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Pepsico (PEP), an international beverage and food company, loses some ground as quarterly organic sales for North America foods business declined about 2%. However, global quarterly sales topped expectations. The company confirmed full-year guidance.
Levi Strauss (LEVI), a designer and seller of a variety of clothing products, drops on profit taking as quarterly financial figures failed to impress investors.
Salesforce.com (CRM), a developer of business software, was downgraded to "sector weight" from "overweight" at KeyBanc.
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On Wednesday, the S&P/TSX Composite Index fell 0.95% to 34,936 and the S&P/TSX 60 Index lost 0.93% to 2,060.
MDA Space (MDA), a provider of advanced space technologies, drops after announcing a 712 million dollars share offering to help fund the acquisition of a roughly 70% stake in Collecte Localisation Satellites (CLS) for approximately 650 million dollars. CLS is a provider of AI-driven Earth observation value-added services and satellite IoT solutions.
Cenovus Energy (CVE)'s, an oil company, target price was cut to 45 dollars from 47 dollars at JPMorgan.
TMX Group (X)'s, an integrated exchange group, target price was raised to 59 dollars from 58 dollars at Barclays.
Canadian National Railway (CNR)'s, a freight railway company, target price was raised to 141 dollars from 124 dollars at Citigroup. Peer Canadian Pacific Kansas City (CP)'s target price was raised to 106 dollars from 97 dollars still at Citigroup.
TFI International (TFII)'s, a transport and logistics company, target price was cut to 182 dollars from 188 dollars at Citigroup.
Orla Mining (OLA), Franco-Nevada (FNV), Alamos Gold (AGI), and Agnico Eagle Mines (AEM), companies involved in gold production, had their price targets cut by RBC.
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