North American equity markets are tracking towards a lower open, putting Wall Street on track for a losing week.
– call it the better part of half a per cent on the S&P 500 and Nasdaq Composite, closer to a quarter of a per cent on the blue chip Dow Jones Industrial Average. It’s more of the same themes we’ve been tracking all week, namely concerns over the interest rate path for the world’s most influential central banks, with U.S. Federal Reserve Chair Jay Powell’s reiteration the Fed sees rates somewhat higher by year’s end continuing to reverberate through the markets.
The act, which would force the likes of Facebook parent Meta Platforms and Google owner Alphabet to compensate news organizations for linking to their stories, has found few friends in Silicon Valley, with Meta declaring it will end the availability of news on Facebook and Instagram once the law comes into effect Google, for its part, says it’s working toward avoiding such an outcome and will work with the government on a path forward It’s a delicate dance all around here – legacy media has...
The company says that loss – an increase of $59 million from the same period a year ago – was driven by an increase in asset impairments and restructuring costs, which were partially offset by higher gross margins. If you zoom out for a moment to look at the full fiscal year, things are a bit more eye-popping, with the company posting a $3.3-billion net loss.
Shares of Siemens Energy are tanking – down 34 per cent – after the company announced late yesterday that its seen a significant increase in the failure rates of its wind turbine components.
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