Nasdaq falls as Tesla, Netflix cast a pall: Stock market news today
Stocks were mixed to open Thursday’s session as the Nasdaq fell after Tesla (TSLA) and Netflix (NFLX) updates took the shine off the earnings season and a fresh batch of results started to roll in.
The tech-heavy Nasdaq Composite (^IXIC) was down around 0.4% at the open, while the S&P 500 (^GSPC) was roughly flat. The Dow Jones Industrial Average (^DJI) was up 0.4%.
Wednesday’s after-hours earnings from Netflix and Tesla — the first to report among the tech giants that have driven a recent stock rally — failed to excite investors. Shares of Netflix dropped after its revenue missed,…
10 years since bankruptcy, Detroit’s finances are better but city workers and retirees feel burned
DETROIT (AP) — Mike Berent has spent more than 27 years rushing into burning houses in Detroit, pulling people to safety and ensuring his fellow firefighters get out alive.
But as the 52-year-old Detroit Fire Department lieutenant approaches mandatory retirement at age 60, he says one thing is clear: He will need to keep working to make ends meet.
“I’m trying to put as much money away as I can,” said Berent, who also works in sales. “A second job affords you to have a little bit of extra.”
Detroit officials say a man has survived a 150-foot plunge into…
RBC misses expectations as profit falls
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Earnings hit as bank sets aside more money for bad loans
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Published May 25, 2023 • Last updated May 26, 2023 • 2 minute read
The Royal Bank of Canada missed expectations as profit fell in the second quarter. Photo by Reuters
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The Royal Bank of Canada missed expectations as profit fell in the second quarter on higher credit-loss provisions and staffing and technology costs.
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CIBC beats estimates, raises dividends
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Canadian banking profit grows 28%
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Published May 25, 2023 • Last updated May 26, 2023 • 2 minute read
CIBC beat expectations in the second quarter and raised its dividend. Photo by National Post
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Canadian Imperial Bank of Commerce beat expectations in the second quarter and raised its dividend, despite putting aside more funds for potential credit losses.
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A blueprint to select visuals that boost SEO in a TikTok-centric world
30-second summary:
Creating an emotional connection through visuals is crucial to connect with consumers
The ever-changing landscape of consumer visual processing requires marketers to thoughtfully select visuals that align with their content, boost SEO performance and drive higher conversions
When visual content can increase search visibility, more than 43% of marketers struggle to constantly produce it for SEO
Matthew O’Such, Vice President of Digital Marketing & SEO at Getty Images and iStock helps brands navigate visual processing through compelling imagery and video to boost ROI
The advent of TikTok and its meteoric rise in popularity throughout the pandemic has changed…
Biden says the debt deal is ‘very close’ with the default deadline now set at June 5
WASHINGTON (AP) — President Joe Biden said a deal to resolve the government’s debt ceiling crisis seemed “very close” late Friday, even as the deadline for a potentially catastrophic default was pushed back to June 5 and seemed likely to drag negotiations between the Whites House and Republicans into another frustrating week.
The later “X-date,” laid out in a letter from Treasury Secretary Janet Yellen, sets the risk of a devastating default four days beyond an earlier estimate. It came as Americans and the world uneasily watched the negotiating brinkmanship that could throw the US economy into chaos and sap…
TD misses estimates as expenses, credit-loss provisions rise
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Retail banking in Canada and the US continued to show strong growth
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Published May 25, 2023 • Last updated May 26, 2023 • 3 minute read
TD Bank missed expectations in the second quarter. Photo by Cole Burston/Bloomberg
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Toronto-Dominion Bank has scaled back its medium-term growth outlook and announced it will be repurchasing more than 30 million shares as it navigates the aftermath of the collapse of its US$13.4 billion deal to acquire Memphis-based First Horizon Corp.
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Cathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion Surge
(Bloomberg) — Cathie Wood’s flagship exchange-traded fund closed out its Nvidia Corp. stake in early January. Then, came the artificial intelligence frenzy that sent the stock and its big tech peers on a tear.
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The chipmaker has added around $560 billion in market capitalization since Wood dumped her shares — with the last $200 billion of that surge coming overnight after the company handily beat earnings.
Although Wood holds Nvidia across several of her smaller funds, investors in the flagship ARK Innovation ETF (ticker ARKK) have mostly been left out of this year’s blistering 159.90% rally.…
