Dow Futures Rebound into Green

Futures tied to the Dow Jones Industrial Average rebounded into positive territory Wednesday following the Bank of England’s bond-buying plan to stabilize the falling British pound.

Futures for the 30-stock index recaptured 65 points, or 0.2%, early Wednesday to 29,268.

Futures for the S&P 500 eked up three points, or 0.1%, to 3,664.

Futures for the NASDAQ Composite Index lost 40.25 points, or 0.4%. at 11,293.50.

Shares of Apple were down nearly 4% in pre-market trading after a Bloomberg report, citing people familiar with the matter, said the tech company is ditching plans to increase new iPhone production after demand fell short of expectations.

Biogen soared 45.6% in pre-market trading after Biogen and Japanese partner Eisai said their experimental Alzheimer’s drug dramatically slowed the disease’s progression in a study, reducing cognitive and functional decline by 27%.

Thor Industries gained 3.6% in the pre-market after the recreational vehicle maker reported better-than-expected … Read more

England Grapples With ‘Doom Loop’ As Currency Hits New Lows

England is struggling with what’s being called a “doom loop” as stock markets sink and the British pound

falls to new all-time lows against the U.S. dollar.

The market meltdown comes after new British Prime Minister Liz Truss’s government announced a series

of tax cuts to help citizens struggling with high energy prices and other inflationary pressures.

The British pound hit an all-time low against the U.S. dollar on Monday (September 26), falling below

$1.04 U.S., while the British 10-year bond yield rose to its highest level since the 2008 financial crisis.

The Bank of England said it is monitoring market developments and would not hesitate to hike interest

rates to return inflation to its 2% target, an announcement that further pressured markets.

Truss announced late last week widespread tax cuts not seen in Britain since 1972. The tax cuts set the

U.K. at odds with other developed economies that … Read more

Futures Again Pegged to Go Down

Futures tracking Canada’s main stock index fell on Monday, weighed down by bullion and oil prices, as investors feared that aggressive central bank policy

The TSX Composite tumbled 521.7 points, or 2.8%, to finish Friday and the week at 18,490.98. Over the last five sessions, the index lost its grip on 905 points, or 4.67%.

Futures slid 0.6% early Monday.

The Canadian dollar sank 0.48 cents to 73.14 cents U.S.

H.C. Wainwright started coverage of gold-mining company Victoria Gold with a “buy” rating and a 12-month price target of $23.

Meanwhile, a Federal government official said on Sunday it would take several months for this country to restore critical infrastructure after the powerful storm Fiona left an “unprecedented” trail of destruction.

ON BAYSTREET

The TSX Venture Exchange dropped 24.88 points, or 4.1%, to 578.06, for a loss on the week of 52 points, or 8.3%.

ON WALLSTREET

U.S. equity futures … Read more