Tech stocks among weakest on TSX... Investment not balanced budget is priority for PM... Cyber attack hits major firms including banks...
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Tech stocks among weakest on TSX
The markets have lost faith in the tech sector recently as political and other matters have made more traditional options less risky again. That move away from tech continued Tuesday, weakening the main TSX index.
Although IT was down 2 per cent, the decline for Toronto’s index was widespread, with only energy making any real gains while utilities and consumer discretionary sector groups closed flat.
Wall Street was down with the Nasdaq slumping more than 100 points. European and most Asian markets were also lower.
The S&P/TSX Composite Index closed down 34.80 (0.23 per cent)
The Dow Jones closed down 98.89 (0.46 per cent)
Oil is trending (Brent $46.63, WTI $44.20 at 4.35pm)
Gold is trending higher (1249.30 at 4.35pm)
The loonie is valued at U$0.7599
Investment not balanced budget is priority for PM
Justin Trudeau said Tuesday that investments in Canada’s economy are his focus rather than the larger-than-expected budget deficit.
Reuters reports that the prime minister was responding to a question about when his government plans to balance the budget. Mr Trudeau said he did not want to increase taxes on middle-class Canadians.
"We're looking to grow the economy in ways that are going to benefit Canadians and we're always going to be fiscally responsible in the decisions we make," he said.
Cyber attack hits major firms including banks
Thousands of computers have been hit by a cyber attack which experts say is worse than the WannaCry ransomware attack which spread around the world earlier this year.
The Petya virus has infected organizations in Asia and Europe including global law firm DLA Piper and the Russian bank Home Credit. It appears to have originated in the Russian region.
Security experts warn that the WannaCry virus is also still active as, despite a security patch being issued, it won’t necessarily have been implemented everywhere.
The markets have lost faith in the tech sector recently as political and other matters have made more traditional options less risky again. That move away from tech continued Tuesday, weakening the main TSX index.
Although IT was down 2 per cent, the decline for Toronto’s index was widespread, with only energy making any real gains while utilities and consumer discretionary sector groups closed flat.
Wall Street was down with the Nasdaq slumping more than 100 points. European and most Asian markets were also lower.
The S&P/TSX Composite Index closed down 34.80 (0.23 per cent)
The Dow Jones closed down 98.89 (0.46 per cent)
Oil is trending (Brent $46.63, WTI $44.20 at 4.35pm)
Gold is trending higher (1249.30 at 4.35pm)
The loonie is valued at U$0.7599
Investment not balanced budget is priority for PM
Justin Trudeau said Tuesday that investments in Canada’s economy are his focus rather than the larger-than-expected budget deficit.
Reuters reports that the prime minister was responding to a question about when his government plans to balance the budget. Mr Trudeau said he did not want to increase taxes on middle-class Canadians.
"We're looking to grow the economy in ways that are going to benefit Canadians and we're always going to be fiscally responsible in the decisions we make," he said.
Cyber attack hits major firms including banks
Thousands of computers have been hit by a cyber attack which experts say is worse than the WannaCry ransomware attack which spread around the world earlier this year.
The Petya virus has infected organizations in Asia and Europe including global law firm DLA Piper and the Russian bank Home Credit. It appears to have originated in the Russian region.
Security experts warn that the WannaCry virus is also still active as, despite a security patch being issued, it won’t necessarily have been implemented everywhere.
