[ad_1]
Today’s headlines
We apologize, but this video has failed to load.
Top story
Loblaw to build more than 40 new stores in $2-billion expansion
This advertisement has not loaded yet, but your article continues below.
The parent company of Loblaws and Shoppers Drug Mart said it will also expand or relocate another 10 locations.
It will renovate more than 700 others.
Loblaw said the company’s capital investments this year are expected to create more than 7,500 jobs in Canada.
The company has a network of 2,500 stores across the country.
In addition to Loblaws and Shoppers Drug Mart, the company’s banners include No Frills, Real Canadian Superstore and T&T.
— The Canadian Press
10:25 a.m.
Stocks in U.S., Canada down to start shortened trading week
Stocks fell on Wall Street in morning trading on Tuesday to kick off a holiday-shortened week.
The S&P 500 slipped 0.6 per cent and is coming off only its second losing week in the last 16. The benchmark index is sitting below the record high it reached last week.
The Dow Jones industrial average fell 30 points, or 0.1 per cent. The Nasdaq composite fell 1.2 per cent.
Markets were closed in the United States on Monday for Presidents Day.
This advertisement has not loaded yet, but your article continues below.
In Toronto, the S&P/TSX composite index was down 0.04 per cent after being closed on Monday for Family Day in Ontario.
— Bloomberg, Financial Post
8:30 a.m.
Inflation cools to 2.9% in January
Statistics Canada said the headline deceleration was mainly due to a year-over-year decline in gasoline prices, which fell four per cent in January from 1.4 per cent the prior month.
Excluding gasoline, headline CPI slowed to 3.2 per cent in January, down from the 3.5 per cent growth in December, it said.
— Denise Paglinawan, Financial Post
7:15 a.m.
Stock markets before the opening bell
United States equity futures declined amid growing conviction that the U.S. Federal Reserve will hold interest rates higher for longer to curb a resilient economy — with some investors even starting to speculate that the next move may be up.
Futures on the S&P 500 and Nasdaq 100 were pointing to a down day when Wall Street reopens after Monday’s public holiday. Nvidia Corp. declined in pre-market trading ahead of its widely anticipated earnings report due Wednesday. Discover Financial Services surged after Capital One Financial Corp. agreed to buy the credit card issuer. Capital One dropped. The 10-year Treasury yield and the dollar were steady.
This advertisement has not loaded yet, but your article continues below.
Traders have in recent weeks moved rate-cut expectation out to June, from March, as a phalanx of Federal Reserve officials warned against over-exuberant expectations of policy easing, and economic data continued to surprise to the upside. Former U.S. Treasury Secretary Lawrence Summers said on Friday “there’s a meaningful chance” the next move is up.
The S&P/TSX composite index closed up 0.16 per vent on Friday.
— Bloomberg
What to watch today
Innovation Minister François-Philippe Champagne will take part in discussions with players from the mining and critical minerals sector at an event in Rouyn-Noranda, Que.
Deputy Prime Minister Chrystia Freeland will deliver remarks and participate in a fireside conversation at the Association quebecoise de la production d’energie renouvelable 2024 symposium, in Quebec City.
Statistics Canada releases the consumer price index for January this morning.
Companies reporting earnings today include First Quantum Minerals Ltd., Walmart Inc., The Home Depot Inc. and Barclays PLC.
Recommended from Editorial
Additional reporting by The Canadian Press, Associated Press and Bloomberg
[ad_2]
Source link
