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Re: Forum gossip thread by Herman

Money Sense

Started by Anonymous, August 20, 2015, 08:46:39 PM

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Anonymous

The S&P/TSX composite index closed down 60.50 points to 15,946.17, with most subindexes also falling.



In New York, the decline was steeper. The Dow Jones industrial average lost 180.43 points to 26,447.05. The S&P 500 index was down 16.04 points to 2,885.57, while the Nasdaq composite was off 91.06 points at 7,788.45.



The Canadian dollar traded at an average of 77.30 cents US, down from an average of 77.52 cents US on Thursday.



The November crude contract was up one cent at US$74.34 per barrel and the November natural gas contract was down 2.2 cents at US$3.14 per mmBTU.



The December gold contract was up $4 at US$1,205.60 an ounce and the December copper contract was down 1.45 cents at US$2.76 a pound.

Anonymous

MEG Energy rejects husky's $3.3Bn hostile takeover bid



CALGARY — MEG Energy Corp. says its board is unanimously recommending that shareholders reject Husky Energy Inc.'s $3.3-billion hostile takeover offer made on Oct. 2.



In a news release, the Calgary-based oilsands company says the offer "significantly undervalues" its shares and is not in the best interests of the company.



Husky is offering a combination of cash or shares worth $11 for each MEG share.



The maximum cash available under the deal is capped at $1 billion and the maximum number of shares limited to 107 million. Husky values the transaction at $6.4 billion, including the assumption of $3.1 billion in debt. MEG chairman Jeffrey Mccaig says Husky's offer doesn't recognize the value of MEG'S assets, technology, expertise and business prospects, noting that MEG Energy is at an "inflection point" with a lowrisk business plan that will generate significant free cash flow starting in 2019.



Husky says it took its proposal directly to shareholders because MEG'S board wouldn't discuss it. It says its offer is open until Jan. 16.



In its news release, MEG says it is producing 100,000 barrels per day of bitumen and has spent substantially all the capital required to increase production to 113,000 bpd by 2020.

Anonymous

A lot of Canada's economy is dependent on real estate and construction. As an example of the softening housing market across Canada, Sleep Country Canada's stock price is down about forty per cent over the last six months.

Anonymous

Quote from: "seoulbro"A lot of Canada's economy is dependent on real estate and construction. As an example of the softening housing market across Canada, Sleep Country Canada's stock price is down about forty per cent over the last six months.

The value of our house has dropped about $100,000 in the last five years..



While house  prices in Calgary were too high, I want to see prices rising, even a little bit.

Anonymous

So many deeply indebted Canadians have all their financial eggs in their home. When a had landing comes, and it is coming, it will long  term pain.  And with the federal government declaring war on our resource sector, there will be nothing to save us.



Canada's Housing Market Ranked 3rd-Riskiest In World

Rapid house price growth and high debt levels mean Canada has a high chance of a correction, Oxford Economics says.

https://www.huffingtonpost.ca/2018/09/15/riskiest-housing-markets-canada_a_23528163/">https://www.huffingtonpost.ca/2018/09/1 ... _23528163/">https://www.huffingtonpost.ca/2018/09/15/riskiest-housing-markets-canada_a_23528163/

Anonymous

Another bad day in a write off month on the markets. West Texas Intermediate had it's worse one day loss in over  three years. It was down $4.24 to close at $50.39. Obviously energy stocks had a bad day in a bad month. But, so have tech stocks. Biomedical stocks were the only bright spot today and this week.



The Dow was down another 178.74 to close at 24.285.95. The TSX was 78.75 to close at 15,010.73. And CDN $ was basically unchanged at .7555

Anonymous

Conserns over trade relations between the U.S. and China remained at the fore. Things took a decided turn for the worse yesterday, after the U.S. requested the arrest of a top executive from one of China's leading technology companies citing a violation of sanctions on Iran. Today, two administration officials made opposing remarks regarding the progress of negotiations, leading to a further erosion of confidence that the ongoing tariff dispute was any closer to being resolved.



At the closing bell, the Dow 30 was down 559 points, or 2.2%, the S&P 500 was off by 63 (2.3%), and the tech-heavy NASDAQ fared the worst of the lot, tumbling 219 points (3.1%). The downturn was widespread, with declining issues outnumbering advancers by more than two-to-one. Most of the 10 major market sectors were firmly in the red, with the largest losses coming from technology (down 3.0%), consumer cyclicals (2.7%), and healthcare (2.3%). Utilities were the only group to finish on the positive side of the ledger, rising about one-third of a percent. Altogether, this marked the end of a difficult week for stocks, with declines in the key indexes ranging between 3.7% and 4.2%.



Elsewhere, oil prices showed some renewed life, with light sweet crude rising 2% to around $52.55 a barrel. The move came after OPEC and its allies announced that they had agreed to cut oil output by 1.2 million barrels a day. However, the commodity was still down nearly 15% over the past month. Part of this reflects increased output from the U.S., which recently surpassed Saudi Arabia as the largest oil producer.



The TSX had a horrible week for the same reasons as the Dow Jones and Nasdaq finishing the week at  14, 795.13, down another 141.87 today.

Anonymous

Quote from: "seoulbro"Conserns over trade relations between the U.S. and China remained at the fore. Things took a decided turn for the worse yesterday, after the U.S. requested the arrest of a top executive from one of China's leading technology companies citing a violation of sanctions on Iran. Today, two administration officials made opposing remarks regarding the progress of negotiations, leading to a further erosion of confidence that the ongoing tariff dispute was any closer to being resolved.



At the closing bell, the Dow 30 was down 559 points, or 2.2%, the S&P 500 was off by 63 (2.3%), and the tech-heavy NASDAQ fared the worst of the lot, tumbling 219 points (3.1%). The downturn was widespread, with declining issues outnumbering advancers by more than two-to-one. Most of the 10 major market sectors were firmly in the red, with the largest losses coming from technology (down 3.0%), consumer cyclicals (2.7%), and healthcare (2.3%). Utilities were the only group to finish on the positive side of the ledger, rising about one-third of a percent. Altogether, this marked the end of a difficult week for stocks, with declines in the key indexes ranging between 3.7% and 4.2%.



Elsewhere, oil prices showed some renewed life, with light sweet crude rising 2% to around $52.55 a barrel. The move came after OPEC and its allies announced that they had agreed to cut oil output by 1.2 million barrels a day. However, the commodity was still down nearly 15% over the past month. Part of this reflects increased output from the U.S., which recently surpassed Saudi Arabia as the largest oil producer.



The TSX had a horrible week for the same reasons as the Dow Jones and Nasdaq finishing the week at  14, 795.13, down another 141.87 today.

Our investments performed terribly this week.

 :sad:

Anonymous

Quote from: "Fashionista"
Quote from: "seoulbro"Conserns over trade relations between the U.S. and China remained at the fore. Things took a decided turn for the worse yesterday, after the U.S. requested the arrest of a top executive from one of China's leading technology companies citing a violation of sanctions on Iran. Today, two administration officials made opposing remarks regarding the progress of negotiations, leading to a further erosion of confidence that the ongoing tariff dispute was any closer to being resolved.



At the closing bell, the Dow 30 was down 559 points, or 2.2%, the S&P 500 was off by 63 (2.3%), and the tech-heavy NASDAQ fared the worst of the lot, tumbling 219 points (3.1%). The downturn was widespread, with declining issues outnumbering advancers by more than two-to-one. Most of the 10 major market sectors were firmly in the red, with the largest losses coming from technology (down 3.0%), consumer cyclicals (2.7%), and healthcare (2.3%). Utilities were the only group to finish on the positive side of the ledger, rising about one-third of a percent. Altogether, this marked the end of a difficult week for stocks, with declines in the key indexes ranging between 3.7% and 4.2%.



Elsewhere, oil prices showed some renewed life, with light sweet crude rising 2% to around $52.55 a barrel. The move came after OPEC and its allies announced that they had agreed to cut oil output by 1.2 million barrels a day. However, the commodity was still down nearly 15% over the past month. Part of this reflects increased output from the U.S., which recently surpassed Saudi Arabia as the largest oil producer.



The TSX had a horrible week for the same reasons as the Dow Jones and Nasdaq finishing the week at  14, 795.13, down another 141.87 today.

Our investments performed terribly this week.

 :sad:

A lot of this is the uncertainty around trade between the world's two biggest economies. But, we have had a very long bull run. Investors   are anticipating a period of correction. Rising interest rates are not helping either.

Anonymous

The Dow Jones Industrial Average rose 1,086 points, gaining nearly 5 percent, the biggest point gain in history, Wednesday afternoon after a rough Christmas Day.



The Dow Jones also had the biggest upside move on a percentage basis since March 23, 2009, according to CNBC. This comes as the stock market had its worst week in nearly 10 years from Dec. 17 through Dec. 21, dropping over 400 points.



Investors went bargain shopping the day after Christmas, where stocks just got too cheap relative to earnings, future earnings, any reasonable assessment of earnings. The coast is clear, back up the truck, investors are saying enough already, the world is not ending.

Gaon

What a wild day on the stock markets. The Dow shed 660 points because Apple plummeted 10% in its darkest day in six years. Sales in China are down because Chinese consumers are tightening their belts. The Chinese economy is slowing.
The Russian Rock It

Anonymous

Quote from: "Gaon"What a wild day on the stock markets. The Dow shed 660 points because Apple plummeted 10% in its darkest day in six years. Sales in China are down because Chinese consumers are tightening their belts. The Chinese economy is slowing.

China has represented forty to fifty per cent of global growth since the great recession of 2008. A slowdown in their economy will have a greater impact on the world than anything the USA and the EU do combined.

Anonymous

The markets rebounded to close the week with the Dow, and TSX getting back all the losses from the previous day and then some. Excellent job growth in the USA shows there's lots of steam left in the world's biggest economy, lifting global markets.

Anonymous

Canada's main stock index rose for a fifth straight day for the first time in seven months as the market continued to bounce back from last month's lows.



The S&P/TSX composite index closed up 98.76 points to 14,903.49, after hitting a one-month high of 14,921.06 in earlier trading.



The market is eight per cent above the low set late last year but still 10 per cent below the July high.



The Toronto Exchange's performance Thursday was helped by crude oil rising to its highest level in more than a month and further gains among cannabis producers including Canopy Growth Corp.'s 12 per cent gain that boosted the health-care sector by 4.3 per cent.



The February crude contract was up 23 cents at US$52.59 per barrel and the February natural gas contract was down 1.5 cents at US$2.97 per mmBTU.



The energy index increased by more than one per cent, followed by defensive sectors utilities and telecommunications. The only sector to fall was materials.



In New York, the Dow Jones industrial average rose 122.80 points at 24,001.92. The S&P 500 index was up 11.68 points at 2,596.64, while the Nasdaq composite was up 28.99 points at 6,986.07.



The Canadian dollar traded at an average of 75.56 cents US compared with an average of 75.64 cents US on Wednesday.

Anonymous

The Dow, the TSX, Nasdaq, oil and the  Canadian dollar were all  up today and up for the week. The three week market recovery continues even with expected slower growth in China.