Canadians Enjoy Long Weekend



Economic Lookahead

S&P U.S. Manufacturing PMI (Final) (July)

ISM Manufacturing Index (July)

Construction Spending (May)

Featured Earnings

HSBC Holdings plc. (NYSE:HSBC) (Q2) EPS projects for 97 cents, compared to 85 cents in the prior-year quarter.

Activision Blizzard Inc (NASDAQ: ATVI) (Q2) EPS projects for 39 cents, compared to 86 cents in the prior-year quarter.

Williams Companies Inc. (NYSE:WMB) (Q2) EPS projects for 38 cents, compared to 27 cents in the prior-year quarter.


Markets in Canada are closed for Civic Holiday



Economic Lookahead

Job Openings/Quits (June)

Featured Earnings

Advanced Micro Devices Inc. (NASDAQ:AMD) (Q2) EPS projects for 94 cents, compared to 58 cents in the prior-year quarter.

S&P Global Inc. (NYSE: SPGI) (Q2) EPS projects for $3.02, compared to $3.62 in the prior-year quarter.

Starbucks Corporation (NASDAQ: SBUX) (Q3) EPS projects for 77 cents, compared to $1.01 in the prior-year quarter.



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UK firms are cutting ties with China amid wider tensions, CBI chief says

British businesses are scrambling to sever economic ties with China in the wake of increased political and security tensions between Beijing and the west, an industry leader has said.

The Confederation of British Industry (CBI) director general, Tony Danker, warned that the sudden restructuring of supply chains from China could also exacerbate the cost of living crisis.

Speaking to FT Weekend, he said thousands of companies in the UK were engaged in rethinking supply chains in anticipation of anti-China political sentiment hardening.

Danker said the UK would need to find new trade partners and rekindle old ones – such as the EU – if the west cuts ties with China, and that if Britain failed to do that, corporate supply chains would be “more expensive and thus inflationary” and its trade strategy would be redefined.

“If the political experts and security experts are right, we are all going to need … Read more

TSX Enjoys Best Week in Months

Energy, Mining Stocks Power Index Up

Equities appeared Friday to have turned a corner, bringing the totals for the month to highs they haven’t seen in months.

The TSX popped 236.21 points, or 1.2%, to close Friday, the week and month at 19,692.82. On the week, the index hurtled higher 710 points, or 3.5%.

The Canadian dollar gathered 0.4 cents to 78.12 cents U.S.

Markets in Canada will be shuttered Monday for Civic Day.

Energy did most of the gaining, with Secure Energy Services springing 41 cents or 6.8%, to $6.46, while Advantage Oil triumphed 54 cents, or 5.2%, to $11.02.

In materials, Capstone Copper hiked 37 cents, or 14.3%, to $2.95, while Ivanhoe Mines captured 56 cents, or $7.92.

Industrials also had a banner day, with Cargojet jumping $5.55, or 3.9%, to $148.44, while TFI International spiked $6.60, or 5.4%, to $127.92.

Only consumer staples stubbed their toes, in … Read more