Canada's main stock index, the S&P/TSX Composite index declined today, while Wall Street indices traded mixed, as the Dow and S&P500 traded in the red, while better-than-expected results from Amazon (NASDAQ:AMZN) helped buoy the Nasdaq.
Rising treasury yields continued to pressure equities, even as US PCE data showed inflation coming in as expected, raising bets of a rate hold from the US Federal Reserve.
Toronto Stock Market News
National Bank of Canada (TSX:NA) has initiated layoffs in its capital markets business, according to sources, affecting its equity research and sales and trading divisions, the people said. The job cuts at National Bank follow layoffs from BMO (TSX:BMO), RBC (TSX:RY), and Scotiabank (TSX:BNS), which together resulted in at least 6,000 job reductions.
Imperial (JO:IPLJ) Oil reported a net income of $1.6 billion dollars or $2.76 on a per-share basis, down from $2.03 billion or $3.24 a share a year earlier. Total revenues came in at $13.92 billion compared to $15.22 billion this time a year ago.
Corus Entertainment Inc (TSX:CJRb). reported a net income of $50.4 million compared to a net loss of $367.1 million this time a year ago. Profit amounted to 25 cents per diluted share compared with a loss of $1.82 cents per diluted share in the same quarter last year. Revenue totaled $338.8 million, compared to $339.6 million a year earlier.
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