Wall Street takes back-to-back weekly gains and an overbought market into an important week featuring Nvidia earnings and the latest reading on the Federal Reserve’s favorite inflation gauge. Fed Chairman Jerome Powell on Friday gave the speech from Jackson Hole that investors wanted to hear. The S & P 500 and Nasdaq bounced back from … Read more
After a bitter contract dispute shut down the country’s two major railways, the federal labour board ordered thousands of rail employees back to work on Saturday. Federal Labour Minister Steven MacKinnon asked to send the parties to binding arbitration while an agreement is hammered out between Canadian National, Canadian Pacific Kansas City and the Teamsters … Read more
A national grain growers association estimated the railway labour dispute is costing farmers between $40 million and $50 million a day. A city councillor says the stoppage has disrupted the daily lives of residents. “We’re going to have to talk to our banks and talk to our creditors and say, ‘Hey, you know what I … Read more
It appears more investors are eyeing dividend stocks ahead of the Federal Reserve’s interest rate decision in September. Paul Baiocchi of SS&C ALPS Advisors thinks it is a sound strategy because he sees the Fed easing rates. “Investors are moving back toward dividends out of money markets, out of fixed income, but also importantly toward … Read more
By The Staff The Canadian Press Posted August 24, 2024 9:27 am 1 min read Descrease article font size Increase article font size Railway workers, their union and their employers are all waiting today for a decision from the Canada Industrial Relations Board that will determine what’s next for the labour dispute that ground trains … Read more
Despite efforts to avoid a strike or lockout, freight trains across Canada shut down early Thursday morning as thousands of rail employees were locked out of the job by Canada’s two major railways. Now, industry groups are warning that the rail shutdown could put Canadian manufacturers and exporters in serious jeopardy. “About three-quarters of everything … Read more
U.S. stocks rallied on Friday as dovish remarks from U.S. Federal Reserve Chair Jerome Powell solidified expectations that the central bank will cut its key policy rate in September. In highly anticipated comments before the Jackson Hole Economic Symposium, Powell said “the time has come” to lower the Fed funds target rate, and “the upside … Read more
The union representing rail workers has said it is looking at options to challenge Ottawa’s decision to ask the Canada Industrial Relations Board to impose final, binding arbitration to end a shutdown at both of Canada’s largest railways. Speaking in Ottawa less than 24 hours after thousands of unionized workers at the country’s two main … Read more
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting at the William McChesney Martin Jr. Federal Reserve Board Building on July 31, 2024 in Washington, DC. Andrew Harnik | Getty Images Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he … Read more
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivers his keynote speech Friday morning at the central bank’s annual retreat in Jackson Hole, Wyoming. Powell was widely expected to chart a path forward … Read more
