2025-11-21 21:26

TSX ends up 0.9% at 30,160.65 For the week, the index loses 0.5% Technology and financials both add 1.3% Magna International shares jump 5.6% Nov 21 (Reuters) - Canada's main stock index clawed back much of its weekly decline on Friday as financial and technology shares climbed on rising hopes that the Federal Reserve will cut U.S. interest rates in December. The S&P/TSX composite index (.GSPTSE) , opens new tab ended up 254.10 points, or 0.9%, at 30,160.65. For the week, the index was down 0.5%. Sign up here. Wall Street's main indexes also rallied after New York Fed President John Williams said the central bank can still cut rates "in the near term" without putting its inflation goal at risk. Investors see a roughly 60% chance the Fed will lower borrowing costs next month, up from 20% before the release of U.S. jobs data on Thursday. "It seems like the macro concerns regarding the Fed and what they're thinking ... are superseding corporate earnings, which have been very strong," said Ian Chong, a portfolio manager at First Avenue Investment Counsel Inc. "At some point, value investors will dip back into the market, especially high quality companies, given the strong Q3 corporate earnings." The technology sector (.SPTTTK) , opens new tab, which has been buffeted in recent days by concern about the massive level of artificial intelligence spending, rose 1.3%, with e-commerce company Shopify Inc (SHOP.TO) , opens new tab adding 2.1%. The United Arab Emirates said it will invest up to $50 billion in Canada under a framework that includes projects in artificial intelligence, energy and mining sectors. The materials group (.GSPTTMT) , opens new tab, which includes metal mining shares, added 1.1% as copper prices rose. Financials (.SPTTFS) , opens new tab were up 1.3% and consumer discretionary (.GSPTTCD) , opens new tab added 2.4%. Shares of auto parts supplier Magna International Inc (MG.TO) , opens new tab climbed 5.6%. China's Guangzhou Automobile Group will build its electric AION V model at a Magna facility in Austria, the two companies said on Thursday. Energy (.SPTTEN) , opens new tab was the only one of 10 major sectors to end lower. It fell 0.8% as the price of oil settled 1.6% lower at $58.06 a barrel. https://www.reuters.com/business/canada-futures-slip-weak-retail-forecast-fed-rate-uncertainty-cloud-outlook-2025-11-21/

2025-11-21 21:01

Alphabet shares jump Lilly becomes first drugmaker to join trillion-dollar club Report: US considering letting Nvidia sell H200 chips to China Indexes: Dow up 1.1%, S&P 500 up 1%, Nasdaq up 0.9% NEW YORK, Nov 21 (Reuters) - U.S. stocks rallied on Friday as investors increased bets that the Federal Reserve will cut interest rates next month, while all three of the major indexes posted losses for the week amid concerns over lofty technology valuations. The Nasdaq fell for a third straight week in its longest run of weekly losses since March. The index is now down 7% from its October high. Sign up here. During the session, shares of Nvidia (NVDA.O) , opens new tab briefly jumped after sources familiar with the matter said the Trump administration is considering green-lighting sales of the company's H200 artificial intelligence chips to China. The stock ended down 1%, still well off of its lows of the session. Nvidia is down 5.9% for the week even though the AI leader late on Wednesday reported strong quarterly results and gave a robust forecast. New York Fed President John Williams, a voting member of the Federal Open Market Committee, said the central bank can still cut rates "in the near term" without putting its inflation goal at risk. That boosted market views for a rate cut at the Fed's December meeting, even as other policymakers insisted that borrowing costs should remain steady for now. Markets are now pricing in a nearly 72% chance of a rate cut from the central bank at its December meeting, according to the CME's FedWatch Tool, up from 39.1% in the prior session. "The big tailwind today is that shift in rate cut odds for the December Fed meeting," said Ross Mayfield, investment strategist at Baird in Louisville, Kentucky. All 11 of the S&P 500 sectors ended higher. The Dow Jones Industrial Average (.DJI) , opens new tab rose 493.15 points, or 1.08%, to 46,245.41, the S&P 500 (.SPX) , opens new tab gained 64.23 points, or 0.98%, to 6,602.99 and the Nasdaq Composite (.IXIC) , opens new tab gained 195.04 points, or 0.88%, to 22,273.08. For the week, the Dow was down 1.9%, the S&P 500 was down about 2% and the Nasdaq was down 2.7%. Also, the small-cap Russell 2000 index (.RUT) , opens new tab fell for a fourth straight week in its longest run of weekly losses since March. Stocks have been especially volatile in the past two sessions, reflecting heightened investor anxiety over high valuations in the technology sector, ambitious AI spending plans and concerns about what might happen at the December Fed meeting. Also on Friday, Boston Fed President Susan Collins said on CNBC that policy was "in the right place," indicating skepticism about the need for another rate cut. Global brokerages are split over whether the Fed will cut interest rates in December or hold them. Data on Thursday showed the unemployment rate increased in September even as employers added more jobs than economists had expected during the month. The report was delayed because of the long government shutdown. Eli Lilly (LLY.N) , opens new tab shares ended 1.6% higher after the company during the session became the first drugmaker to touch the $1 trillion level of market capitalization. Among the day's biggest boosts, Alphabet (GOOGL.O) , opens new tab shares closed up 3.5% on Friday, while Apple (AAPL.O) , opens new tab was up 2% and Meta Platforms (META.O) , opens new tab was up 0.9%. Advancing issues outnumbered decliners by a 3.1-to-1 ratio on the NYSE. There were 68 new highs and 213 new lows on the NYSE. On the Nasdaq, 3,499 stocks rose and 1,274 fell as advancing issues outnumbered decliners by a 2.75-to-1 ratio. Volume on U.S. exchanges was 21.06 billion shares, compared with the 20.03 billion average for the full session over the last 20 trading days. https://www.reuters.com/business/sp-500-nasdaq-futures-under-pressure-tech-selloff-continues-2025-11-21/

2025-11-21 20:51

WASHINGTON, Nov 21 (Reuters) - A group of U.S. House lawmakers on Friday called on the Trump administration to enforce key provisions of a rule issued by former President Joe Biden's administration that requires new consumer protections for disabled passengers using wheelchairs. "These standards ensure that passengers with disabilities can travel safely and with dignity," said the letter signed by 14 Democrats on the House Transportation and Infrastructure committee including Greg Stanton, Rick Larsen and Andre Carson. Sign up here. United Airlines (UAL.O) , opens new tab, Delta Air Lines (DAL.N) , opens new tab, American Airlines (AAL.O) , opens new tab, Southwest Airlines (LUV.N) , opens new tab and JetBlue Airways (JBLU.O) , opens new tab airline trade group Airlines for America filed suit in February challenging the rule that set stricter standards for accommodating passengers with wheelchairs. The U.S. Transportation Department said in September it would not enforce the provisions pending a review, including one imposing liability on airlines for mishandled wheelchairs. Another requirement was that airlines reimburse passengers using wheelchairs the difference between a fare on a flight taken and one the passenger would have paid if their wheelchair could have fit in the cabin or cargo compartment of a different aircraft. USDOT and the airline group did not immediately comment. The rule also requires carriers to reimburse passengers for damage to wheelchairs and to notify passengers about their rights in writing when they are checking wheelchairs or scooters. Last year, USDOT said an estimated 5.5 million Americans use a wheelchair or other mobility device. Data shows for every 100 wheelchairs or scooters transported on domestic flights at least one is damaged, delayed, or lost. In October 2024, USDOT fined American Airlines a record $50 million for its treatment of disabled passengers, including failing to provide some with adequate assistance and mishandling wheelchairs. Last week, USDOT withdrew a Biden plan to require airlines to pay passengers cash compensation when U.S. flight disruptions are caused by carriers. https://www.reuters.com/world/us/lawmakers-urge-us-enforce-biden-wheelchair-air-travel-rules-2025-11-21/

2025-11-21 20:39

Nov 21 (Reuters) - (This Nov. 21 story has been corrected to clarify that the deal between Hungary and the United States concerns the existing nuclear plant, known as Paks I, and not the Paks II project to be built by Russia's Rosatom, in paragraph 4) The United States on Friday issued a Russia-related general license allowing certain transactions with the Paks II civil nuclear power plant project in Hungary, according to the Treasury Department website. Sign up here. The license allows exceptions to U.S. sanctions on the project being built by Russia over Moscow's war on Ukraine. It allows transactions linked to the nuclear power plant project involving some Russian banks, including Gazprombank, VTB Bank, and the Russian central bank, the Treasury Department notice showed. The move came after Hungary signed an agreement this month on nuclear power cooperation with the United States as President Donald Trump met with Hungarian Prime Minister Viktor Orban. Under the deal, Hungary will buy American nuclear fuel and U.S. technology to store spent fuel at an existing plant, known as Paks I. https://www.reuters.com/business/energy/us-issues-license-allowing-some-transactions-with-hungarian-nuclear-power-plant-2025-11-21/

2025-11-21 20:29

Nov 21 (Reuters) - U.S. President Donald Trump signed a proclamation on Friday to ease regulatory requirements on certain coke oven processing plants, the White House said. Coke ovens are manufacturing plants or blast furnaces for making coking coal, a key raw material in steelmaking. Sign up here. The proclamation gives some plants an exemption from certain emissions requirements for a period of 2 years beyond their compliance dates under the Coke Oven Rule, according to the text of the proclamation released by the White House. https://www.reuters.com/world/china/trump-signs-proclamation-ease-regulations-some-coke-oven-processing-plants-2025-11-21/

2025-11-21 19:44

BRASILIA, Nov 21 (Reuters) - Brazil's government said on Friday that 22% of its exports to the United States remain subject to a 40% extra tariff after President Donald Trumpexpanded the list of exemptions to include goods such as coffee, meat and fruit. Those products are also hit by the U.S. base tariff of 10%, the Ministry of Development, Industry, Trade and Services said, citing 2024 export values. Sign up here. Speaking to reporters, Vice President Geraldo Alckmin said that before Washington's decision on Thursday, the share of products facing the full 50% tariff had stood at 36%. Alckmin said 238 products were removed from the extra tariff list, calling it the biggest breakthrough in trade talks so far. He noted, however, that goods such as fish, honey, grapes, machinery, engines and footwear remain subject to the surcharge. Figures released by the ministry on Friday show that about 51% of Brazil's exports shed the extra 40% tariff, with 15% of them still subject to a 10% rate and the remaining 36% facing no additional duty. Meanwhile, about 27% of Brazilian exports to the U.S. are subject to levies under Section 232 investigations, which impose tariffs on sectors such as steel, aluminum, wood, copper and furniture. Negotiations are ongoing as President Luiz Inacio Lula da Silva has signaled he is willing to meet Trump in person soon, although no meeting has been scheduled, said Alckmin. "We were optimistic, and we want to reiterate that we remain optimistic. The work is not finished," he said. https://www.reuters.com/world/americas/trump-tariff-relief-leaves-22-brazils-shipments-still-hit-2025-11-21/