It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
It was the third trigger of the recession indicator in less than two weeks.Bondsread more
Overstock CEO Partick Byrne has resigned from the e-commerce company after making comments about his role in the "deep state."Technologyread more
Automakers are trying to deal with President Trump's efforts to roll back Obama-era fuel efficiency rules.Autosread more
Mark Zuckerberg has been on a selling spree in August and has unloaded $526 million worth of stock this year.Technologyread more
Palantir CEO Alex Karp said billionaire investor Peter Thiel is right to question Google's decision to work in China, while abandoning military contracts in the US.Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
U.S. manufacturer growth slowed to the lowest level in almost 10 years in August, the latest sign that the trade war may be exacerbating the economic slowdown.Marketsread more
L Brands shares fell by as much as 12% at one point, touching $17.61 — a price not seen since December 2009.Retailread more
"The president is not backing down," says CNBC's Jim Cramer, referring to Trump's repeated calls for the Fed to cut rates while talking tough on China.Economyread more
The market rebound this week hasn't convinced the strategist predicting a "Lehman-like" sell-off that the risk is completely off the table.Marketsread more
currencies@ (Adds details on activity; updates prices)
* Canadian dollar falls 0.2% against the greenback
* Loonie touches its strongest intraday since May 10 at 1.3401
* Canadian factory sales rise 2.1% in March
* Canadian bond prices fall across the yield curve
TORONTO, May 16 (Reuters) - The Canadian dollar edged lower against its broadly stronger U.S. counterpart on Thursday but performed better than most other G10 currencies as oil prices rose and domestic factory data pointed to faster growth in the economy. Canadian factory sales were up by 2.1% in March from February on higher motor vehicle sales, as well as petroleum and coal products, Statistics Canada said. Analysts surveyed by Reuters had forecast a 1.1% increase in the value of shipments. "Today's reading suggests a likely healthy advance in March monthly GDP, and will support the street's view that growth will outperform the Bank of Canada's pessimistic view for Q1," said Royce Mendes, senior economist at CIBC Capital Markets in a note. The central bank has projected the economy grew by 0.3% in the first three months of the year after barely any growth in the fourth quarter. The Bank of Canada said on Thursday the overall risk to the Canadian financial system was slightly higher than in June 2018 and expressed concern about the increasing threat posed by fragile corporate debt funding. Separate data, from ADP, showed that Canada added 61,700 jobs in April, the second straight month of robust jobs gains.
The price of oil, one of Canada's major exports, rose as tensions in the Middle East grew, with a Saudi-led coalition launching air strikes in retaliation for recent attacks on its
crude infrastructure. U.S. crude oil futures settled 1.4%
higher at $62.87 a barrel.
At 4:20 p.m. (2020 GMT), the Canadian dollar was
trading 0.2% lower at 1.3460 to the greenback, or 74.29 U.S. cents, which was the second smallest decline among G10 currencies after the safe-haven Swiss franc. The loonie touched its strongest intraday level since May 10 at 1.3401.
The U.S. dollar rose to its highest level in nearly
two weeks against a basket of major currencies as investors focused on trade war tensions, while the euro was hurt by concerns about this weekend's European parliamentary elections.
Canadian government bond prices were lower across the yield curve in sympathy with U.S. Treasuries after data showing stronger-than-expected U.S. housing starts in April.
The two-year declined 1 Canadian cent to yield1.587% and the 10-year was down 12 Canadian cents to
(Reporting by Fergal Smith Editing by Susan Thomas and Phil Berlowitz)