It's looking like there's little relief in sight for investors to start the week, with North American equity market futures pointing to further losses when the opening bells ring at 9:30 a.m.
in sight for investors to start the week, with North American equity market futures pointing to further losses when the opening bells ring at 9:30 a.m. EST. At last check, it's more of the same we saw on Friday – the tech-heavy Nasdaq Composite Index is tracking for the largest losses, down about one per cent after Friday's 1.5 per cent decline, while the Dow Jones Industrial Average and S&P 500 are both pointing to about a 0.75 per cent decline. There are a few factors at play here.
Reuters is reporting Toronto-based AI company Cohere – a competitor to Microsoft-backed OpenAi, the folks behind ChatGPT – is in talks to raise hundreds of millions of dollars in a funding round that could value the firm at around US$6 billion. U.S.-listed Chinese ADRs are under some pressure – Alibaba down two per cent, JD.com off about three per cent, for example – as tensions rise over the American downing of a Chinese balloon over the weekend.
Dell Technologies is slashing 6,650 jobs as the company faces plummeting demand for personal computers, marking just the latest in a round of tech-sector layoffs.Notable data: Ivey Purchasing Managers Index, U.S. Global Supply Chain Pressure Index Notable earnings: Tyson Foods, Take-Two Interactive Software, TMX Group, Chegg, Coveo Solutions, PrairieSky Royalty, TFI International, Activision Blizzard, Pinterest, Finning International