As Treasury yields and the dollar slipped, index futures on the Nasdaq 100 jumped more than 1 per cent, boosted also by hefty gains earlier across Asian technology companies. Chipmakers Advanced Micro Devices Inc., Nvidia Corp. and Intel Corp. rose between 1.3 per cent-2 per cent in U.S. premarket trading, while Tesla Inc., Amazon.com Inc., Apple Inc., and Alphabet Inc. all added about 1 per cent each.
Europe's Stoxx 600 index swung between losses and gains, though the market is close to a three-month high and Germany's Dax index is on the cusp of a technical bull-market, having narrowly missed that milestone on Monday. In Asia, Hong Kong's Hang Seng benchmark rose above that threshold, gaining as much as 4.2 per cent.
Monday's meeting between President Xi Jinping and Joe Biden generated hopes of warmer ties between the two superpowers. It came after Beijing had announced measures to support China's beleaguered property sector, and to relax COVID curbs.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold, silver higher as bulls step in to buy early dipsSenior Technical Analyst Jim Wyckoff prepares investors with an overview of how the markets opened and closed. What moved metal prices? How do the technicals look? By looking at important developments
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Ports in need of infrastructure improvements call for more flexible borrowing limits from governmentTo adapt to the challenges of extreme weather events and new fuel sources, Canada’s ports will need greater flexibility from the federal government to acquire infrastructure funding, according to the president and CEO of the Association of Canadian Port Authorities (ACPA). “Right now, the way ports are structured in terms of their ability to raise funds to invest in infrastructure, they are quite constrained by borrowing limits which are set in their letters patent,” said Daniel-Robert Gooch. “Reviewing those borrowing limits [and] getting changes to those borrowing limits has proved to be quite a cumbersome, time-consuming process, and really doesn’t meet the needs of ports that are trying to be nimble to respond to what’s coming at them and plan for the future.” Transport Minister Omar Alghabra (Mississauga Centre, Ont.) announced the completion of the federal government’s Ports Modernization Review on Oct. 11, a review that began in 2018 to examine the port system, according to a Transport Canada press release. Alghabra also announced that the federal government plans to introduce legislative amendments in the coming months to update how Canada’s ports are managed and operated. The ACPA is interested in the federal government introducing an amendment that allows for greater financial flexibility to help ports borrow the funding they need to complete infrastructure projects, according to Gooch. As set out in the Canada Marine Act, the Canada Port Authorities (CPAs) don’t receive federal funding to meet operating costs or deficits, and finance their capital projects using their own revenues. To acquire needed funding for projects, CPAs may collaborate with the private sector, borrow from a commercial lender, or apply for certain federal contributions related to infrastructure, the environment or security, according to Transport Canada. A limit regarding how much funding CPAs are permitted to borrow is set in the letters patent issued by the federal transport minist cnockaert_j 🤣
Source: TheHillTimes - 🏆 11. / 79 Read more »