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4:36 a.m. May 7, 2021 - By Sunny Oh
10-year Treasury yield slides below 1.50% after weaker-than-expected jobs reportLong-dated U.S. Treasury yields fell sharply on Friday after the Labor Department reported the economy had added 266,000 jobs in April, falling well short of the 1 million gains forecast by MarketWatch-polled economists. The 10-year Treasury note yield was down 6.6 basis points to 1.495%, while the 30-year bond yield tumbled 5.5 basis points to 2.181%. Prior to the report, investors were expecting that a strong jobs report would add to the case for faster pace of liftoff from the Federal Reserve's easy-money policies.
5:36 a.m. April 21, 2021 - By Sunny Oh
Stocks edge lower as investors contend with coronavirus worriesU.S. stocks ticked lower to start Wednesday's session as investors fretted over the rise of COVID-19 cases across the world. The S&P 500 fell 0.2% to 4,128. The Dow Jones Industrial Average slid 0.1% to 33,794. The Nasdaq Composite shed 0.4% to 13,737. All three major indexes were on course for modest losses this week. India and Japan were seeing an intensification of the pandemic, with Japanese officials considering a state of emergency for major cities Osaka and Tokyo. Shares of Netflix fell 8% after the streaming giant reported a sharp fall in new subscriber growth.
9:17 a.m. April 13, 2021 - By Sunny Oh
Treasury yields extend slide after solid 30-year bond saleU.S. Treasury prices rallied, pushing yields lower, following an auction for $24 billion of 30-year government bonds that "stopped through" by 1.6 basis points, a sign of strong appetite for the debt available for sale. A stop-through indicates when the highest yield the Treasury sold in the auction falls below the highest yield expected when the auction began - the "when issued" level. The 30-year Treasury yield is down to 2.313%, from 2.345% at the end of Monday. Investors had suggested demand for the 30-year bond could be strong given increased foreign demand. Longer-maturity bonds are popular with Japanese insurance companies and pension funds who are attracted by higher U.S. yields compared to domestic investments, especially when hedged for foreign currency fluctuations.
3:35 a.m. April 7, 2021 - By Ciara Linnane
Bausch Health to reduce debt by $100 million using cash from operationsBausch Health Companies Inc. said Wednesday it will reduce debt by another $100 million using cash from operations to redeem its outstanding 7.00% senior secured notes due in 2024. The company, the former Valeant, already redeemed $200 million aggregate principal amount of the bonds in March. Bausch has been working for years to reduce a high debt load that was taken on by the former Valeant during a yearslong acquisition spree. The company had $23.9 billion in long-term debt at end-December, according to FactSet data. Shares were not yet active premarket, but have gained 50% in the year to date, while the S&P 500 has gained 8.3%.
4:42 a.m. April 2, 2021 - By Sunny Oh
Treasury yields tick higher after jobs reportU.S. Treasury yields moved higher on Friday after a stronger-than-expected jobs report on Friday. The Labor Department said the U.S. economy had added 916,000 jobs in March, above the forecast of 675,000, pushing the unemployment rate down to 6% from 6.2%. The 10-year Treasury note yield rose 1.6 basis points 1.695%, while the 2-year note rate was up a basis point to 0.170%. The 30-year bond yield gained 0.8 basis point to 2.348%. Bond prices move inversely to yields. A faster pace of job gains will add to the growing impression of a U.S. economy gaining steam, and potentially push investors to bring forward the timing of the Federal Reserve's eventual pullback from its accommodative policies.
5:34 a.m. March 31, 2021 - By Sunny Oh
U.S. stocks open modestly higher ahead of Biden infrastructure planU.S. stock-market benchmarks traded higher at the start of Wednesday's session, as investors waited for details from President Joe Biden on a multitrillion dollar infrastructure spending plan that's expected to include higher taxes on corporations. The S&P 500 rose 0.4% to 3,973. The Dow Jones Industrial Average advanced 99 points, or 0.3%, to 33,166. The Nasdaq Composite climbed 0.7% to 13,132. The infrastructure plan comes less than a month after the passage of a $1.9 trillion package of COVID relief spending. The immense fiscal support deployed by Washington has helped boost inflation expectations and bond yields. Shares of Walgreens Boots Alliance Inc. were up over 2% after the pharmacy chain reported fiscal second-quarter results and raised its outlook for fiscal 2021.
3:42 a.m. March 18, 2021 - By Tomi Kilgore
Canopy Growth agrees on $750 term loan with King StreetThe U.S.-listed shares of Canopy Growth Corp. edged up 0.5% in premarket trading Thursday, after the Canada-based cannabis company announced an agreement on a $750 million senior secured term loan with funds advised by King Street Capital Management L.P. The term loan, which matures on March 18, 2026, has a coupon of LIBOR plus 8.5% and has no amortization payments. The agreement also allows the company to receive up to an additional $500 million of senior secured debt. The company plans to use the proceeds for working capital and general corporate purposes, which could include growth investments, acquisitions and strategic initiatives. "We are delighted to welcome King Street as our anchor debt investor and look forward to building value for both our credit and equity investors over time," said Canopy Chief Financial Officer Mike Lee. The stock has rallied 35.0% over the past three months through Wednesday, while the Cannabis ETF has climbed 69.1% and the S&P 500 has gained 7.1%.
5:35 a.m. March 17, 2021 - By Sunny Oh
Nasdaq stumbles at the open after 10-year Treasury rises before Fed updateU.S. stocks were mostly lower at the start of Wednesday's session as a rise in long-term Treasury yields appeared to weigh on tech shares. Investors will watch the Federal Reserve's policy update in the afternoon where it could bring forward its expectations for a first rate hike through the so-called dot plot. The S&P 500 fell 0.4% to 3,947. The Dow Jones industrial Average rose 27 points, or 0.1%, to 32,853. The Nasdaq Composite slid 1% to 13,338. The 10-year Treasury yield rose 4.1 basis points to 1.664%, briefly hitting its highest level since Jan. 2020. Bond prices move inversely to yields.
9:25 a.m. March 16, 2021 - By Sunny Oh
Treasury yields come off highs after strong debt auctionTreasury yields retreated from their highs after buyers showed up in force at a 20-year bond auction on Tuesday afternoon. The 20-year bond fell sharply from its intraday high of around 2.315% down to 2.271%. The 10-year note was down 0.5 basis point to 1.602%. Bond prices move inversely to yields. The ratio of bids received to bids accepted at the auctoin stood at 2.51 times compared to a historical average of 2.32 times.
6:32 a.m. March 12, 2021 - By Sunny Oh
10-year Treasury yield pushes above 1.60% ahead of next week's Fed meetingU.S. Treasury yields extended their rise on Friday before next week's Federal Reserve meeting where the central bank may opine on the impact of the bond-market selloff on financial conditions. The 10-year Treasury note yield surged 10.6 basis points to 1.633%, its highest level since around Feb. 2020. Bond prices move inversely to yields. Though it wasn't clear what had triggered the sharp surge in yields, investors suggest the fiscal relief bill passed this week may be energizing the bond-market bears. Tom di Galoma, managing director of Treasurys trading at Seaport Global Securities, said if the 10-year closed above 1.64%, the next move for the benchmark maturity would be towards 1.75%.
6:40 a.m. March 11, 2021 - By Sunny Oh
Treasury yields bounce off lows as supply loomsU.S. government bond yields bounced off their intraday lows on Thursday as investors looked to make room for issuance of new 30-year Treasury bonds and investment-grade corporate debt issuance from Verizon. The 10-year Treasury note yield rose 2 basis points to 1.540%, off their low of around 1.475%, while the 30-year bond yield climbed 4.7 basis points to 2.289%. Bond prices move inversely to yields. Broker-dealers typically bid yields higher to attract bond buyers ahead of a Treasury auction. And banks tasked with drumming up demand and selling corporate bonds will sometimes sell long-term Treasury futures to offset the risk that interest rates will rise and weigh on the prices of the debt during the issuance process.
12:03 p.m. March 10, 2021 - By Sunny Oh
Dow tops 32,000 to book new record after Congress passes stimulus billU.S. stocks finished mostly higher on Wednesday as the passage of a $1.9 trillion stimulus bill tilted the focus towards the prospects for a swift and strong economic recovery later this year. The S&P 500 gained 0.6% to around 3,899. The Dow Jones Industrial Average rose 464 points, or 1.5%, to 32,297, based on preliminary numbers. The blue-chip benchmark surpassed its previous record close of 31961.86 hit late February. The Nasdaq Composite was down less than 0.1% to end around 13,069. The House passed the stimulus bill on Wednesday, leaving it for the White House to sign on Friday. Investors also monitored the direction of the 10-year Treasury yield amid concerns that a renewed bond-market selloff could put pressure on the frothier parts of U.S. equity markets that had benefited from the pandemic. The 10-year note yield fell around 3 basis points to 1.52%. Bond prices move inversely to yields.
10:06 a.m. March 10, 2021 - By Sunny Oh
Market-based inflation expectations hit highest since 2014Bond investors' assessment of future inflation are heating up amid hopes that the combination of generous fiscal relief and accelerating vaccine distributions will help bring about a strong economic recovery this year. The 10-year breakeven rate, or what holders of Treasury inflation-protected securities anticipate consumer prices will average over the next decade, rose to 2.26% on Wednesday, the highest since 2014. Meanwhile, the 10-year Treasury note yield was down 2.8 basis points to 1.516%. Bond prices move inversely to yields. The iShares TIPs Bond exchange-traded fund was up 0.4%. The rise in market-based inflation expectations came after a reading of February consumer prices showed an increase of 0.4%.
9:05 a.m. March 10, 2021 - By Sunny Oh
Treasury yields pare decline after 10-year note auctionU.S. Treasury yields pared their drop after a $38 billion auction for benchmark 10-year notes on Wednesday afternoon "tailed" by a single basis point, a sign of tepid demand. The 10-year Treasury note yield was trading at 1.520%, 2.4 basis points below from where it started on the day but off its lowest levels. Bond prices move inversely to yields. Investors have shown an interest in the performance of recent Treasury debt auctions, following a poor 7-year note sale two weeks ago that triggered a bout of fierce selling in the bond market.
4:37 a.m. March 5, 2021 - By Sunny Oh
10-year Treasury yield shoots above 1.60% after jobs reportU.S. Treasury yields climbed after the February jobs report showed higher-than-expected job gains, adding to doubts whether the Federal Reserve will able to stay as accommodative for as long as they have signaled. The 10-year Treasury note yield rose 6.2 basis points to 1.612%, a February high, while the 2-year note rate was up 0.6 basis point to 0.151%. The 30-year bond yield rose 3 basis points to 2.33%. The U.S. economy added 379,000 jobs in February, above the forecast of 210,000.
10:18 a.m. March 4, 2021 - By Sunny Oh
Goldman Sachs raises 10-year Treasury yield target to 1.90%Goldman Sachs on Thursday raised its Treasury yield target, forecasting the 10-year note rate to hit 1.90% by the end of the year amid a quickening bond-market selloff. The benchmark maturity is up 6.6 basis points to 1.536%. "The already material repricing in global yields will, in our view, extend after some consolidation, driven by a strong acceleration in the global recovery over the coming quarters," said Goldman Sachs strategists led by Praveen Korapaty. The rise in yields over the past few weeks has led banks across Wall Street to repeatedly lift their year-end Treasury yield targets. The combination of fiscal relief and vaccine rollouts have fanned inflation fears, and raised doubts among investors over whether Federal Reserve can stick to its accommodative policy stance for as long as it has signaled.
9:06 a.m. March 4, 2021 - By Sunny Oh
10-year Treasury yield jumps above 1.50% Thursday afternoon after Powell refers to inflation's rise as transitoryU.S. Treasury yields Thursday after Federal Reserve Chairman Jerome Powell said he was monitoring the rise in bond yields and that he would be concerned if financial conditions did tighten. "I would be concerned by disorderly conditions in markets or persistent tightening in financial conditions that threatens the achievement of our goals," Powell said during a webinar hosted by The Wall Street Journal. The 10-year Treasury note yield climbed 7.1 basis points to 1.541%. Bond prices fall as yields rise. Many investors had said that if Powell didn't offer more explicit pushback on higher government bond rates, it could fuel Treasury market weakness. Powell stressed again that the Fed would be "patient" with higher inflation expected this year, saying it was likely to be a "one time" effect and not price gains that continue year-after-year.
5:53 a.m. March 3, 2021 - By Sunny Oh
Gauge of bond-market inflation expectations hits highest since 2008A gauge of future price pressures from holders of Treasury inflation-protected securities are trading at their highest levels in over a decade. The 5-year breakeven rate, which reflects estimates of consumer prices over the next 5 years, stood at 2.50% on Wednesday. The rise in inflation expectations followed climbing bond yields on Wednesday, with the 10-year Treasury note rate up 6.9 basis points to 1.484%. Bond prices move inversely to yields. Investors have been betting that the combination of an accommodative Federal Reserve, trillions in fiscal relief and the reopening of the U.S. economy will lead to a sustained rise in price levels.
9:18 a.m. Feb. 25, 2021 - By Sunny Oh
10-year Treasury yield surges above 1.50% after 'awful' debt auctionThe benchmark Treasury note jumped above 1.50% on Thursday afternoon after investors showed tepid demand for $62 billion of 7-year notes. The 10-year note yield climbed 15 basis points to 1.54%. Bond prices move in the opposite direction of yields. Peter Boockvar, chief investment officer at the Bleakley Advisory Group, described the 7-year note auction results as "awful," after it tailed by 4.2 basis points, the most in the auction's history. The tail is the gap between the highest yield the Treasury sold in the auction and the yield before the auction began. Analysts have cited the 1.50% level as a key threshold for the bond market that could portend trouble for U.S. equities.
7:28 a.m. Feb. 25, 2021 - By Sunny Oh
10-year Treasury rate briefly passes S&P 500 dividend yieldBenchmark Treasury yields on Thursday briefly broke through a key line in the sand that investors say could start to present trouble for record-high U.S. equities. The 10-year note rose as high as 1.49%, before settling down to 1.46% on Thursday. In its climb higher, the benchmark maturity passed the S&P 500's average dividend yield of 1.48%. That could raise the relative attractiveness of U.S. government bonds to the expense of high dividend-paying sectors like utilities. If long-term bond yields persist above the dividend rates paid out by major U.S. corporations, analysts have said it could add to concerns around elevated valuations in the stock market. The S&P 500 is down 0.9%, leaving it on pace for a 0.4% loss for the week.
7:24 a.m. Feb. 25, 2021 - By Sunny Oh
5-year Treasury note yield hits 0.75% as rate-hike bets accelerateShorter-term Treasury yields were on the move on Thursday as the U.S. government bond market came under assault this week. The 5-year Treasury note yield was up 13 basis points to around 0.76%. Bond prices move in the opposite direction of yields. the 10-year note yield rose 8.4 basis points to 1.473%. Investors are closely eyeing the movements of the 5-year note as it roughly overlaps with the timetable for when the Federal Reserve is expected to carry out its first rate hikes since the pandemic. A higher 5-year note rate would signify bond traders are pricing in more monetary tightening as reflation fears gain ground.
7:31 a.m. Feb. 19, 2021 - By Sunny Oh
30-year 'real' yield turns positive, pointing to specter of higher borrowing costsThe 30-year yield for a Treasury inflation-protected security turned positive for the first time since last June on Friday, a sign that investors are anticipating a tightening of financial conditions as the economy recovers. Negative real, or inflation-adjusted, yields were seen as a result of the Federal Reserve's accommodative monetary policy. Higher real yields therefore speak to concerns the economy may face rising borrowing costs at a time when the pandemic is continuing to hamper growth and afflict the finances of households.
5:32 a.m. Feb. 19, 2021 - By Sunny Oh
Stocks open higher as Wall Street looks to limit weekly lossesU.S. stocks rose at the start of Friday's session as markets looked to bounce back from a turbulent holiday-shortened week that saw investors rattled by weak labor-market data and worries over higher borrowing costs. The S&P 500 rose 0.3% to 3,924. The Dow Jones Industrial Average advanced 40 points, or 0.1%, to 31,533. The Nasdaq Composite gained 0.5% to 13,930. Investors are keeping their eyes on Washington, after Treasury Secretary Janet Yellen repeated her calls for lawmakers to go big on a new stimulus package. Shares of Deere & Co. jumped after the construction, agriculture and turf care equipment maker reported big profit and revenue beats for the fiscal first quarter.
10:27 a.m. Feb. 12, 2021 - By Sunny Oh
10-year Treasury yield breaks above key level of 1.2%The 10-year Treasury yield broke above 1.2% on Friday afternoon, ending days of speculation when the benchmark maturity would manage to surpass that key ceiling on back of expectations for stronger inflation this year. The 30-year bond yield also passed its own significant level of 2%. Bond prices move in the opposite direction of yields. Long-dated government bonds are especially vulnerable to reflation fears, as the value of their fixed-interest payments can be easily eroded by higher consumer prices.
9:14 a.m. Feb. 11, 2021 - By Sunny Oh
30-year Treasury yield climbs after sloppy bond auctionLong-term Treasury yields shifted higher on Thursday afternoon following a weak auction for $27 billion of 30-year bonds. The long-dated maturity rose 2 basis points to 1.944%, while the 10-year note rate was up 1.5 basis points to 1.759%. Bond prices move in the opposite direction of yields. Heading into the auction, traders were expecting investors to show brisk interest in the sale as inflationary pressures appeared muted in a January consumer price report. But the auction tailed by a single basis point, an indication of weak demand.
4:00 a.m. Jan. 22, 2021 - By Ciara Linnane
Zenabis enters C$60 million revolving credit agreement to refinance debt held by SundialZenabis Global Inc. said Friday it has entered a revolving credit agreement with a Canadian private debt fund for up to C$60 million ($47 million) that it will use to refinance more expensive debt held by Sundial Growers Inc. . The credit facility carries an interest rate per annum of the greater of 10% or the Toronto-Dominion Bank's prime rate, from time to time, plus 7.55% calculated daily and payable monthly. The debt held by Sundial has an interest rate of 14% per annum. "This committed revolving credit facility will enable the Company to substantially reduce its cost of capital while providing increased liquidity with which to finance Zenabis' continuing revenue growth and increase its operating flexibility," Chief Executive Shai Altman said in a statement. In December, Sundial closed the acquisition of a special purpose vehicle for C$58.9 million in cash. The special purpose vehicle owns C$58.9 million of senior secured debt issued by Zenabis Investment Ltd, a unit of Zenabis Global. Zenabis' U.S.-listed shares were not active premarket. Sundial was down 3%.
11:53 a.m. Jan. 12, 2021 - By Sunny Oh
10-year Treasury yield records longest streak of daily increases since 2017The benchmark 10-year Treasury note booked its seventh consecutive increase on Tuesday, its longest streak since September 2017 when the Federal Reserve started to cut the size of its post-crisis balance sheet under former Fed Chairman Janet Yellen. Yet the Fed's portfolio has ballooned after the central bank stepped in to support the economy and markets last March. The 10-year note yield was up 0.5 basis point to 1.136% on Tuesday. The bond market has come under sustained pressure in January amid expectations for additional fiscal stimulus under a Biden administration and a Democratic-controlled Congress.
4:53 a.m. Jan. 12, 2021 - By Sunny Oh
2-year/10-year Treasury yield curve steepest since mid-2017The U.S. yield curve continued to steepen amid fears of more fiscal stimulus under a Democratic-controlled Congress and growing questions whether the Federal Reserve may ease off its accommodative policy stance earlier than forecast. The spread between the 2-year and the 10-year note , a gauge of the yield curve's slope, stood at 1.02 percentage points, the widest since around May 2017. A steeper yield curve can reflect heightened growth and inflation expectations among bond traders. Some of the weakness in longer-dated Treasurys also reflected broker-dealers making room for new issuance this week, with an auction of $38 billion of 10-year notes due in the afternoon.
6:04 a.m. Jan. 4, 2021 - By Sunny Oh
Inflation expectations hit over two-year high as reflation bets get underway to start 2021Bond investors' assessment of future inflation are heating up amid hopes that vaccine rollouts will help bring about a swifter economic recovery this year. The 10-year breakeven rate, or what holders of Treasury inflation-protected securities anticipate inflation will average over the next decade, rose to 2.01% on Monday, around its highest since November 2018 and also near the Federal Reserve's key 2% inflation target. The iShares TIPs Bond exchange-traded fund was down 0.1%.
12:08 p.m. Dec. 28, 2020 - By Sunny Oh
Stock-market benchmarks book fresh closing records to start weekU.S. stock-market gauges finished at records on Monday as investors were buoyed by confirmation of a fiscal relief bill signed by President Donald Trump over the weekend. The Dow Jones Industrial Average rose 204 points, or 0.7%, to 30,404, based on preliminary numbers. The Nasdaq Composite was up 95 points, or 0.7%, to finish near 12,899. The S&P 500 added 32 points, or 0.9%, to end around 3,735. Trump finally signed a $900 billion pandemic relief package and a $1.4 trillion spending bill that would funnel much-needed aid to U.S. households and businesses, while averting a federal government shutdown. This buoyed investors who have awaited additional fiscal aid before the end of the year. Alibaba Group Holding Ltd. boosted its stock repurchase program late Sunday from $6 billion to $10 billion, and shares rose 0.3% following a 13% plunge on Thursday.
6:10 a.m. Dec. 23, 2020 - By Sunny Oh
Treasury yield curve steepest since October 2017 on Brexit trade deal hopesThe spread between short-term and long-term Treasury yields were the widest in three years that a deal on a Brexit trade agreement could be reached as soon as Wednesday, which weighed on demand for safe haven assets and sent long-term yields higher. The gap between the 2-year note and the 10-year note rate was at 0.84 percentage points, the widest since October 2017. The 10-year note was up nearly 5 basis points to 0.965% on Wednesday, based on Tradeweb data. The British tabloid The Sun reported a deal was "in sight" as U.K. and European negotiators looked to hash out an agreement before the Brexit transition ends on Dec. 31.
5:35 a.m. Dec. 8, 2020 - By Sunny Oh
Stocks open slightly lower as fiscal aid talks in Congress draw focusU.S. stocks fell at the start of Tuesday's session amid a lack of progress towards a fiscal aid package before the end of the year, delaying relief for a U.S. economy dealing with a worsening pandemic. The S&P 500 fell 0.3% to 3,679. The Dow Jones Industrial Average shed 0.2% to 30,001. The Nasdaq Composite was down 0.2% to 12,499. A bipartisan group of lawmakers were working on the language of a $900 billion coronavirus aid bill, but Senate Majority Leader Mitch McConnell has continued to advocate his own smaller version. Shares of Tesla Inc. fell Tuesday after the electric vehicle market leader filed for the sale of up to $5 billion worth of stock.
6:54 a.m. Dec. 4, 2020 - By Sunny Oh
10-year Treasury yield threatens to tip over 1%The 10-year Treasury yield neared the key 1% level that could presage further selling in government bonds, and have reverberations in other assets. The 10-year note yield was at 0.979%, around its highest since March. Bond prices move in the opposite direction of yields. The sudden climb in rates comes amid hopes that a weaker-than-expected jobs report could push lawmakers to make more progress towards a coronavirus aid relief package sooner rather than later. Investors warn, though, if the 10-year note pushes above that key threshold it could undermine the upward trajectory of risky assets, which have soared in part thanks to lower yields.
12:34 p.m. Nov. 17, 2020 - By Sunny Oh
China's Treasury holdings fall to lowest since 2017China's holdings of U.S. Treasurys recently fell to its lowest level since 2017, extending a continuous and steady decline of the world's second-largest economy's hoard of U.S. government bonds. Chinese holdings fell to $1.062 trillion in September from $1.068 trillion in August, according to the closely followed Treasury International Capital report. The 10-year Treasury yield traded mostly around 0.70% in September, and is now at 0.87%. Bond prices move inversely to yields.
5:35 a.m. Nov. 13, 2020 - By Sunny Oh
Stocks open higher as S&P 500 and Dow look to notch weekly gainsU.S. stocks rose at the start of Friday's session as Wall Street looks to put a cap on a turbulent week of trading that saw a rebound in the least-favored stocks during the pandemic at the expense of so-called growth shares. The S&P 500 rose 0.7% to 3,561. The Dow Jones Industrial Average advanced 191 points, or 0.7%, to 29,272. The Nasdaq Composite gained 0.6% to 11,780. The S&P 500 and Dow are still on track to end the week with gains, but investor concerns remain around the COVID-19's worsening trajectory. Cisco Systems Inc. shares surged after the maker of network services's quarterly results and outlook topped Wall Street estimates.
3:20 a.m. Oct. 27, 2020 - By Ciara Linnane
Aurora Cannabis files shelf registration to issue up to $500 million in securities over timeAurora Cannabis Inc. said Tuesday it has filed a shelf registration to issue up to $500 million in securities, including common shares, preferred shares, warrants, subscription receipts and debt securities, or any combination over time. The Canadian cannabis company said it currently has $272 million in cash after completing an at-the-market program. U.S.-listed shares fell 1.7% premarket on the news, and have declined 83% in the year to date, while the Cannabis ETF has fallen 28% and the S&P 500 has gained 5%.
4:53 a.m. Oct. 20, 2020 - By Ciara Linnane
Burger King parent Restaurant Brands offers $500 million of 9-year bondsRestaurant Brands International Inc. said Tuesday it has launched an offering of $500 million of nine-year bonds. Proceeds will be combined with cash on hand to redeem part of the outstanding principal amount of the parent of Burger King's 4.25% first lien senior secured notes due 2024. Shares rose 2.3% premarket, but are down 12% in the year to date, while the S&P 500 has gained 6%.
4:55 a.m. Oct. 13, 2020 - By Greg Robb
Recovery from global recession is slowing, and governments should not withdraw their support, IMF says Global economy remains prone to setbacks, agency warnsThe global economic rebound from the worst global recession since the Great Depression is losing momentum, and governments should not end their efforts to stimulate demand, the International Monetary Fund said Tuesday.
5:37 a.m. Sept. 22, 2020 - By Sunny Oh
Stocks open higher as Wall Street looks to recover from previous day's selloffU.S. stocks traded modestly higher at the start of Tuesday's trade as Wall Street looked to claw back losses from Monday, amid concerns equities would face a tough slog for the rest of the year. The S&P 500 rose 0.5% to 3,298. The Nasdaq Composite was up 0.7% to 10,851. The Dow Jones Industrial Average added 50 points, or 0.2%, to 27,197. In the past few weeks, highflying technology stocks have come under pressure. But these shares were gaining ground again relative to stocks in more economically sensitive industries, suggesting investors still remain uncertain over the U.S. economic landscape. Shares of electric car maker Tesla Inc. were down more than 4% ahead of the company's "battery day."
12:42 p.m. Sept. 17, 2020 - By Mark DeCambre
Dow snaps four-day winning streak as stocks finish day with modest losses Bulls restrained by Fed outlook, lackluster U.S. economic dataU.S. stocks finished lower Thursday, but off the session lows, as investors digested the Federal Reserve’s economic outlook along with lackluster economic data.
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