Canada's Former Finance Minister on Trump, Trade, China Ties
Canada should bolster ties with China to hedge against uncertainty from President Donald Trump's approach to bilateral relations, according to Bill Morneau, the country's former finance minister. Morneau speaks with Erik Schatzker at the Bloomberg Invest conference in Hong Kong. (Source: Bloomberg)
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Yahoo
17 minutes ago
- Yahoo
Trump's Anti-Immigrant Policies Are Impacting Asylum Seekers, US Citizens, and More: What to Know
Bloomberg/Getty Images Stay up-to-date with the politics team. Sign up for the Teen Vogue Take Disappearing students off of city streets, sending asylum seekers to third-country prisons, storming sanctuary cities, and even deporting a US citizen child who has cancer. That's the Trump administration's 'mass deportation' agenda in action. Now, in an effort to stomp out righteous dissent from communities demanding an end to these cruel tactics, the administration's tactics include sending in the National Guard and active-duty US Marines against the very people they have sworn to protect. These are scary times, and Trump's actions hurt everyone, regardless of immigration status. When we deny due process to some, it erodes access to due process for us all. Our job as litigators is to defend our clients in court, regardless of who is in office. We've done that under Republican and Democratic administrations alike, and we have already secured critical victories. We know we are on the right side of the law and the right side of history. But we also know that courtroom success is only truly powerful if the community is in the fight with us. As tensions escalate in Los Angeles and nationwide, we need to stay grounded and educated on how we can best show up for one another. Each of us, regardless of where we live and where we were born, should take a stand today in defense of due process and dignity for our immigrant communities. Here's what we know about who is being swept up in Trump's immigration dragnet, and what we can all do to push back and keep one another safe. Trump has always focused his attention on those here without authorization — this is nothing new. It's also not new that this rhetoric lacks any nuance or room for facts. When you paint an entire population as 'illegal,' you make it more permissible to strip them of rights or due process. This administration has also been frustrated by what it sees as the slow pace of deportations, and representatives are widening their definition of who is 'illegal' so they can deport as many people as possible. The first thing to know is that seeking asylum is a legal process, and the United States has a legal and moral obligation to ensure that people seeking asylum are not sent back to danger. The Trump administration is ignoring this obligation, and it's using to its advantage the fact that the asylum system is unnecessarily and wildly complex. As advocates and members of immigrant communities know well, politicians have a long-standing obsession with doing things 'the right way' that is not grounded in reality, nor an earnest desire for practical solutions that provide accessible pathways to lawful immigration status. Caught up in the administration's broad definition of 'illegal' are people who are actively trying to apply for asylum or adjust their legal status by applying for more long-term status, which can take years — if not decades — to achieve, even when they do everything the government asks of them. If you don't believe us, just look at some of the many examples of people who have been detained and deported when they show up for a check-in with Immigration and Customs Enforcement (ICE) or to their immigration-court hearings. This includes people like Andry José Hernández Romero, a gay hairdresser from Venezuela who was unlawfully deported to CECOT, a mega-prison in El Salvador, alongside hundreds of other men. Andry, a client of Immigrant Defenders Law Center (ImmDef), was seeking asylum in the United States, and our colleagues only learned of his disappearance after they showed up to defend him at his scheduled court hearing and he wasn't there. Also caught up in this administration's definition of 'illegal' are unaccompanied immigrant children who may have to represent themselves in court after the Trump administration revoked federal funding for legal services for infants and kids seeking asylum in the US. This unlawful action removed attorneys and legal support from at least 26,000 children for over a month, in direct violation of the law and a federal court order. It's villainous and morally corrupt, but it's also a clear violation of federal law under the Trafficking Victims Protection Reauthorization Act. Justice Action Center (JAC), ImmDef, and Amica Center for Immigrant Rights have come together with partners and service providers to sue the Trump administration for its failure to provide funding for children's legal representation, and a court has already told Trump that it must continue to do so. But the government openly refused to comply with the court's order for almost a month — just as it refused to comply with another court's order to facilitate the return of Kilmar Garcia Abrego, just as it refused to comply with yet another court's order not to remove people to CECOT in El Salvador. In recent weeks an appeals court denied the government's attempt to pause the district court's ruling in our case. Every day that the Trump administration tries to evade its obligations to fund legal representation for unaccompanied children, it prevents kids from having their best advocates with them and compounds the risks and impacts to children and legal-service providers. This administration is feverishly pushing its deportation agenda, and in order to do that, its representatives are the ones who are flouting the law: recklessly stripping away lawful protections and yanking the rug out from under millions of people who have overcome tremendous legal obstacles and personal hardship to call this country home. The Trump administration is both ignoring and trying to remove the rights of immigrants with active lawful status. This includes the 875,000 migrants who came to the United States through a humanitarian parole process Trump is attempting to end. Many of these individuals came to the US via a sponsorship model grounded in legal authority that has been used by Republican and Democratic administrations alike for more than 70 years. The JAC team is currently fighting the administration's unlawful attempts to revoke humanitarian parole pathways and strip participants of their lawful status; and JAC and partners had secured critical victories in federal court before the Supreme Court allowed the Trump administration to continue with its plans to remove protections from hundreds of thousands of people from Cuba, Haiti, Nicaragua, and Venezuela. The administration is also attempting to remove the protections of hundreds of thousands of people with temporary protected status, or TPS, which has provided a safe and legal way to offer protections for people who need refuge from certain countries embroiled in violence or instability. Litigators and their clients also made significant headway in the courts to block the Trump administration's moves before the Supreme Court once again allowed the administration to proceed with its cruel agenda. These are people who have done everything the US government has asked of them, and the government is now failing to uphold its side of the bargain. As we said before, it was never about immigrants just needing to do things 'the right way.' We've been hearing from many folks who wonder whether and how this will impact them — and how we can fight back, especially as the president escalates his rhetoric and actions against immigrants and those who vocally support them. We should all be wary of a presidential administration that is actively and unlawfully seeking to widen the definition of who it considers 'illegal' or 'criminal' and therefore subject to removal from the US — an administration that is also willing to resort to drastic tactics to remove people from their homes, schools, and communities. Administration representatives are actively creating a larger class of people to subject to their mass-deportation fantasy, and that should concern us all. It's already impacting tourists and students with valid visas, naturalized US citizens who have reported being detained upon reentering the country, and US citizen children of undocumented immigrants. But there is also a whole lot we can do to fight back and keep one another safe. The first thing to remember is that we do have rights — and knowing them is the first line of defense. Immigrant-community leaders have been doing this work for decades, and we should look to them for guidance. The Coalition for Humane Immigrant Rights has an easy-to-access library of actionable Know Your Rights resources in English and Spanish, as does the National Day Laborer Organizing Network. Immigrant Defenders Law Center also has a robust compilation of resources and forms for immigrants and their loved ones. Immigrants Rising has shared guidance for undocumented travelers. For resources in other languages, Asian Americans Advancing Justice has Know Your Rights resources in Arabic, Bengali, Burmese, Chinese, English, Gujarati, Hindi, Karen, Khmer, Korean, Nepali, Punjabi, Urdu, Vietnamese, Tagalog, Thai, and Spanish. Haitian Bridge Alliance is compiling and sharing information in Haitian Kreyol, including specific resources for Haitians impacted by the administration's attacks on TPS and humanitarian parole. ImportaMí also includes resources in Indigenous languages. Additionally, there are community groups providing resources and training opportunities throughout the country, including in New York, Colorado, Wisconsin, and Tennessee. If you are worried about your current or pending immigration status, know that you are not alone. Continue to work with your attorney or a local organization like the ones named above for support. Our inspiration comes from our many incredible clients, people who courageously choose to hold the president to account in the court of law at great risk to themselves, hoping they can make life better for others like them. Everyone should take inspiration from these clients. They come from all political walks of life. Some were born here; others have arrived recently. But they believe in the promise of a country where no one — not even the president — is above the rule of law. Collectively, we must continue to fight tirelessly in court and on the streets to shield our communities from this administration's brazen attacks. A more just future is possible, but it's going to take all of us doing our part to make it a reality. Originally Appeared on Teen Vogue Want more Teen Vogue immigration coverage? The School Shooting That History Forgot I Was Kidnapped After Coming to the U.S. Seeking Asylum Ronald Reagan Sucked, Actually The White Supremacist 'Great Replacement Theory' Has Deep Roots
Yahoo
22 minutes ago
- Yahoo
Stock market today: S&P 500, Nasdaq little changed amid renewed tariff threats, Boeing stock weighs on Dow
US stocks were little changedon Thursday as President Trump again urged the Fed for jumbo rate cut amid easing inflation pressures despite despite "take it or leave it" tariff threats on trading partners. The Dow Jones Industrial Average (^DJI) hovered near the flatline, as component Boeing (BA) slumped in the wake of a deadly plane crash in India. The S&P 500 (^GSPC) gained roughly 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) also rose about 0.1%. President Trump reiterated his call for a jumbo rate cut from Fed Chair Jerome Powell, calling him a "numbskull." "All he has to do is lower it," said Trump. Stocks edged higher after the S&P 500 (^GSPC) snapped this week's run of wins. Investors are adding growing tensions in the Middle East to worries over Trump's trade policy, such as the fragility of the US-China detente. The US dollar sank to its lowest level in three years as fresh price data showed a so-far mild impact from Trump's tariff policies, as wholesale inflation increased less than economists expected. The report came after the consumer counterpart showed an easing in price pressures in the wake of Trump's "reciprocal" tariff hikes in April. Further hints that tariffs are sparing inflation could put the Federal Reserve in a tight spot ahead of its policy meeting next week. Bets on interest-rate cuts this year have mounted, but analysts expect officials to maintain their wait-and-see approach to economic data and policy decisions, with September seen as the most likely spot to resume rate cuts. While investor focus is shifting back to the Fed, Wall Street is still closely following the latest twists and turns in Trump's tariff policy in the hunt for clarity. Read more: The latest on Trump's tariffs US trading partners will get letters within a week or two to set their unilateral tariff rates, Trump reiterated on Wednesday, renewing the threat of no-deal hikes. But Treasury Secretary Scott Bessent told Congress it's "highly likely" that countries in trade negotiations with the US will see an extension of the 90-day tariff pause, currently set to expire July 9. President Trump reiterated his call for a jumbo rate cut from Fed Chair Jerome Powell. The president spoke at the signing of a resolution targeting California's plan to phase-out gas powered vehicles by 2035. Trump urged Powell to cut rates by 1 percentage point in order for the cost of short-term debt to go down, an ask he's made before on social media. "All he has to do is lower it," said Trump. The President reiterated he won't fire Powell, even though he disagrees with his policy and inflation has not be trending higher. "I'm not going to fire him", said Trump. "He was in my office a couple of days ago," said Trump. "I told him... cut your rates now," said Trump. "Lets say there was inflation a year from now, raise your rates — I don't mind." Shares of German biopharmaceutical CureVac (CVAC) soared roughly 39% after its domestic rival BioNTech (BNTX) announced it would acquire the company in an all-stock deal valued at approximately $1.25 billion. The acquisition is aimed at strengthening BioNTech's development of mRNA-based cancer therapies. The US dollar ( sank to its lowest level in three years after the Producer Price Index came in below expectations, showing a milder than expected impact from shifting US trade policy. The dollar against a basket of currencies hovered below 98, its lowest level since 2022. Year to date, the index is down more than 9%. Investors sold greenbacks as tensions between Iran and Israel escalated and Trump renewed tariff threats against US trading partners. US wholesale prices rose modestly last month, a sign that inflationary pressures remain contained. Wednesday's CPI report also pointed to contained inflation, increasing expectations of Federal Reserve rate cuts this year. Yahoo Finance's Laura Bratton reports: Read more here. Oracle (ORCL) shares jumped 10% early Thursday after the company's fiscal fourth quarter results topped Wall Street's expectations. Oracle's adjusted revenue of $15.9 billion was ahead of the projected $15.6 billion, while its earnings per share of $1.70 surpassed the expected $1.64. The company raised its annual revenue forecast, as it expects strong demand for its AI-related cloud services. "What is clear is that more customers will use the Oracle database to leverage AI," CEO Safra Ada Catz told analysts in a call after the market close Wednesday. "It's been a long wait for people who own the stock because ... they [Oracle] missed the last two quarters, both on the top and the bottom line, despite the fact that they were booking an enormous amount of business," Citizens head of technology equity research Pat Walravens told Yahoo Finance's Julie Hyman on Market Domination Overtime. Analysts at UBS, Cantor Fitzgerald, Deutsche Bank, KeyBanc, and Melius Research raised their price targets on the stock to as high as $240 on Thursday. US stocks pulled back on Thursday as President Trump renewed his threat to impose "take it or leave it" tariffs on trading partners, while Boeing (BA) shares sank in the wake of a deadly crash in India. The Dow Jones Industrial Average (^DJI) fell roughly 0.4%, with component Boeing slumping after the crash of an Air India flight involving a Dreamliner jet. The S&P 500 (^GSPC) dropped 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) also moved 0.3% lower. US trading partners will get letters soon within a week or two that will set their unilateral tariff rates, Trump reiterated on Wednesday. Weekly claims for unemployment benefits remained at their highest level in eight months during the first full week of June while the number of Americans filing for unemployment insurance on an ongoing basis reached the highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 248,000 initial jobless claims were filed in the week ending June 7, flat from the week prior and above economists' expectations for 242,000. Meanwhile, 1.956 million continuing claims were filed, up from 1.902 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Chime is set to debut on the Nasdaq later today under the ticker symbol CHYM. The digital bank raised $864 million in its IPO, and priced shares at $27 each for a valuation of $11.6 billion. Chime's entrance in the public markets has been viewed as another indicator of whether the IPO market is thawing after a freeze due to tariff-induced uncertainty. Other recent go-publics, like stablecoin issuer Circle (CRCL) and Nvidia-backed CoreWeave (CRWV), saw massive rallies after their IPOs. As my colleague Josh Schafer wrote yesterday, the largest tech stocks are once again leading the market higher, and that enthusiasm has trickled down to newly issued public offerings. In a June 9 research report, Carson Group associate portfolio manager Blake Anderson found that tech IPOs have been outperforming non-tech IPOs, with shares tied to tech IPOs rising an average of 108% from their deal price. Beyond Chime, other closely watched IPO hopefuls in the pipeline include crypto exchange Gemini; buy now, pay later firm Klarna ( AI chipmaker Cerebras ( and medical supplies company Medline. Read more here about the details of Chime's IPO. Bloomberg reports: Read more here. President Trump's Truth Social posts aren't moving markets like they used to, notes Yahoo Finance's Josh Schafer. Stocks barely budged as he posted on Wednesday that a US-China deal was "done" — something that would have swung markets around a month earlier. Instead, stocks found their direction from economic data, Josh reports: Read more here from today's Morning Brief. The dollar (DX=F) fell further on Thursday as concerns grew about US tariffs after President Trump said he would soon tell trading partners about unilateral levies. Bloomberg News reports: Read more here. Boeing stock fell on Thursday by 8% in premarket trading after an Air India aircraft carrying over 200 people crashed minutes after taking off from the western Indian city of Ahmedabad. Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service. Air India confirmed the plane, which was headed to Gatwick Airport in the UK, crashed in a civilian area near the airport, but has not specified if there are any fatalities. It is still not clear what caused the crash. According to Reuters, Boeing confirmed it was aware of the crash and was working to gather more information. The news comes as the planemaker is trying to rebuild trust relating to the safety of its jets and increase production under new Chief Executive Officer Kelly Orthberg. "There's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years," said Chris Beauchamp, analyst at IG Group. Economic data: Producer Price Index (May); Initial jobless claims (week ending June 7) Continuing claims (week ending May 31) Earnings: Adobe (ADBE), Lovesac (LOVE), RH (RH) Here are some of the biggest stories you may have missed overnight and early this morning: Boeing stock slides after plane crashes in India The $11 trillion gap in costing Trump's 'big, beautiful' bill Gundlach: 'Reckoning is coming' for US debt Trump says he will set unilateral tariff rates within weeks Americans flunk on retirement literacy. Here's why it matters. Nvidia, Samsung to take stakes in robot AI startup Skild US long-dated debt faces crucial test in $22 billion auction Oracle stock jumps as AI boosts revenue forecast Here are some top stocks trending on Yahoo Finance in premarket trading: Oracle (ORCL) stock rose 8% in premarket trading on Thursday after the tech company raised its annual forecast, driven by demand for its AI related cloud services. "Oracle's once-stodgy image levels up to 'cloud-native mage,' and the competitive map now looks less like a classic three-player real time strategy and more like a battle-royale with everyone dropping in, looking for compute loot", said Michael Ashley Schulman, partner at Running Point Capital Advisors. GameStop (GME) shares slumped on Thursday by 11% after announcing a convertible notes offering. The press release said: "GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions." Boeing (BA) stock fell 8% before the bell on Thursday after a plane crashed in India, with more than 200 people on board, near the airport in the country's western city of Ahmedabad. The plane, which was headed to Gatwick airport in the UK, crashed in a civilian area. Oil prices pulled back early Thursday morning, reversing earlier overnight gains as traders assessed a US decision to pull some diplomats out of the Middle East. The decision to reduce staffing in Iraq came after Iran threatened to hit US assets in the region ahead of its talks with the US over nuclear-related activity. Brent crude futures fell to under $69 a barrel, while West Texas Intermediate crude traded below $68 a barrel — both down around 1%. Prices jumped over 4% on Wednesday amid reports of a potential evacuation. Reuters reports: Read more here. Gold (GC=F) rose for a second day in a row as tensions in the Middle East, coupled with Trump's claims of upcoming unilateral tariffs, pushed risk-averse investors toward the haven commodity. Bloomberg reports: Read more here. President Trump reiterated his call for a jumbo rate cut from Fed Chair Jerome Powell. The president spoke at the signing of a resolution targeting California's plan to phase-out gas powered vehicles by 2035. Trump urged Powell to cut rates by 1 percentage point in order for the cost of short-term debt to go down, an ask he's made before on social media. "All he has to do is lower it," said Trump. The President reiterated he won't fire Powell, even though he disagrees with his policy and inflation has not be trending higher. "I'm not going to fire him", said Trump. "He was in my office a couple of days ago," said Trump. "I told him... cut your rates now," said Trump. "Lets say there was inflation a year from now, raise your rates — I don't mind." Shares of German biopharmaceutical CureVac (CVAC) soared roughly 39% after its domestic rival BioNTech (BNTX) announced it would acquire the company in an all-stock deal valued at approximately $1.25 billion. The acquisition is aimed at strengthening BioNTech's development of mRNA-based cancer therapies. The US dollar ( sank to its lowest level in three years after the Producer Price Index came in below expectations, showing a milder than expected impact from shifting US trade policy. The dollar against a basket of currencies hovered below 98, its lowest level since 2022. Year to date, the index is down more than 9%. Investors sold greenbacks as tensions between Iran and Israel escalated and Trump renewed tariff threats against US trading partners. US wholesale prices rose modestly last month, a sign that inflationary pressures remain contained. Wednesday's CPI report also pointed to contained inflation, increasing expectations of Federal Reserve rate cuts this year. Yahoo Finance's Laura Bratton reports: Read more here. Oracle (ORCL) shares jumped 10% early Thursday after the company's fiscal fourth quarter results topped Wall Street's expectations. Oracle's adjusted revenue of $15.9 billion was ahead of the projected $15.6 billion, while its earnings per share of $1.70 surpassed the expected $1.64. The company raised its annual revenue forecast, as it expects strong demand for its AI-related cloud services. "What is clear is that more customers will use the Oracle database to leverage AI," CEO Safra Ada Catz told analysts in a call after the market close Wednesday. "It's been a long wait for people who own the stock because ... they [Oracle] missed the last two quarters, both on the top and the bottom line, despite the fact that they were booking an enormous amount of business," Citizens head of technology equity research Pat Walravens told Yahoo Finance's Julie Hyman on Market Domination Overtime. Analysts at UBS, Cantor Fitzgerald, Deutsche Bank, KeyBanc, and Melius Research raised their price targets on the stock to as high as $240 on Thursday. US stocks pulled back on Thursday as President Trump renewed his threat to impose "take it or leave it" tariffs on trading partners, while Boeing (BA) shares sank in the wake of a deadly crash in India. The Dow Jones Industrial Average (^DJI) fell roughly 0.4%, with component Boeing slumping after the crash of an Air India flight involving a Dreamliner jet. The S&P 500 (^GSPC) dropped 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) also moved 0.3% lower. US trading partners will get letters soon within a week or two that will set their unilateral tariff rates, Trump reiterated on Wednesday. Weekly claims for unemployment benefits remained at their highest level in eight months during the first full week of June while the number of Americans filing for unemployment insurance on an ongoing basis reached the highest level since November 2021 as the US labor market continues to show signs of slowing. Data from the Department of Labor released Thursday morning showed 248,000 initial jobless claims were filed in the week ending June 7, flat from the week prior and above economists' expectations for 242,000. Meanwhile, 1.956 million continuing claims were filed, up from 1.902 million the week prior and the highest level seen since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Chime is set to debut on the Nasdaq later today under the ticker symbol CHYM. The digital bank raised $864 million in its IPO, and priced shares at $27 each for a valuation of $11.6 billion. Chime's entrance in the public markets has been viewed as another indicator of whether the IPO market is thawing after a freeze due to tariff-induced uncertainty. Other recent go-publics, like stablecoin issuer Circle (CRCL) and Nvidia-backed CoreWeave (CRWV), saw massive rallies after their IPOs. As my colleague Josh Schafer wrote yesterday, the largest tech stocks are once again leading the market higher, and that enthusiasm has trickled down to newly issued public offerings. In a June 9 research report, Carson Group associate portfolio manager Blake Anderson found that tech IPOs have been outperforming non-tech IPOs, with shares tied to tech IPOs rising an average of 108% from their deal price. Beyond Chime, other closely watched IPO hopefuls in the pipeline include crypto exchange Gemini; buy now, pay later firm Klarna ( AI chipmaker Cerebras ( and medical supplies company Medline. Read more here about the details of Chime's IPO. Bloomberg reports: Read more here. President Trump's Truth Social posts aren't moving markets like they used to, notes Yahoo Finance's Josh Schafer. Stocks barely budged as he posted on Wednesday that a US-China deal was "done" — something that would have swung markets around a month earlier. Instead, stocks found their direction from economic data, Josh reports: Read more here from today's Morning Brief. The dollar (DX=F) fell further on Thursday as concerns grew about US tariffs after President Trump said he would soon tell trading partners about unilateral levies. Bloomberg News reports: Read more here. Boeing stock fell on Thursday by 8% in premarket trading after an Air India aircraft carrying over 200 people crashed minutes after taking off from the western Indian city of Ahmedabad. Aviation tracking site Flightradar24 said the plane was a Boeing 787-8 Dreamliner, one of the most modern passenger aircraft in service. Air India confirmed the plane, which was headed to Gatwick Airport in the UK, crashed in a civilian area near the airport, but has not specified if there are any fatalities. It is still not clear what caused the crash. According to Reuters, Boeing confirmed it was aware of the crash and was working to gather more information. The news comes as the planemaker is trying to rebuild trust relating to the safety of its jets and increase production under new Chief Executive Officer Kelly Orthberg. "There's revised fears of the problems that plagued Boeing aircraft and Boeing itself in recent years," said Chris Beauchamp, analyst at IG Group. Economic data: Producer Price Index (May); Initial jobless claims (week ending June 7) Continuing claims (week ending May 31) Earnings: Adobe (ADBE), Lovesac (LOVE), RH (RH) Here are some of the biggest stories you may have missed overnight and early this morning: Boeing stock slides after plane crashes in India The $11 trillion gap in costing Trump's 'big, beautiful' bill Gundlach: 'Reckoning is coming' for US debt Trump says he will set unilateral tariff rates within weeks Americans flunk on retirement literacy. Here's why it matters. Nvidia, Samsung to take stakes in robot AI startup Skild US long-dated debt faces crucial test in $22 billion auction Oracle stock jumps as AI boosts revenue forecast Here are some top stocks trending on Yahoo Finance in premarket trading: Oracle (ORCL) stock rose 8% in premarket trading on Thursday after the tech company raised its annual forecast, driven by demand for its AI related cloud services. "Oracle's once-stodgy image levels up to 'cloud-native mage,' and the competitive map now looks less like a classic three-player real time strategy and more like a battle-royale with everyone dropping in, looking for compute loot", said Michael Ashley Schulman, partner at Running Point Capital Advisors. GameStop (GME) shares slumped on Thursday by 11% after announcing a convertible notes offering. The press release said: "GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions." Boeing (BA) stock fell 8% before the bell on Thursday after a plane crashed in India, with more than 200 people on board, near the airport in the country's western city of Ahmedabad. The plane, which was headed to Gatwick airport in the UK, crashed in a civilian area. Oil prices pulled back early Thursday morning, reversing earlier overnight gains as traders assessed a US decision to pull some diplomats out of the Middle East. The decision to reduce staffing in Iraq came after Iran threatened to hit US assets in the region ahead of its talks with the US over nuclear-related activity. Brent crude futures fell to under $69 a barrel, while West Texas Intermediate crude traded below $68 a barrel — both down around 1%. Prices jumped over 4% on Wednesday amid reports of a potential evacuation. Reuters reports: Read more here. Gold (GC=F) rose for a second day in a row as tensions in the Middle East, coupled with Trump's claims of upcoming unilateral tariffs, pushed risk-averse investors toward the haven commodity. Bloomberg reports: Read more here.
Wall Street Journal
25 minutes ago
- Wall Street Journal
Carney Says Trump Meeting at G-7 Summit to Determine Fate of US-Canada Tariff Deal
OTTAWA—Canadian Prime Minister Mark Carney says a bilateral meeting with President Trump on the sidelines of the upcoming Group of Seven leaders' summit in Alberta will determine how close the two sides are on a bilateral deal over tariffs. In an interview with French-language broadcaster Radio-Canada, Carney said officials in Ottawa and Washington are in intense talks on a new economic-and-security pact, but there is no deal yet.
