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Investor.Coffee (09.12.2024): Market Optimism Rises Amid Key U.S. Economic Data and Upcoming ArcStone-Kingswood Growth Summit

written by Tracy Hughes | September 12, 2024

Today’s Investor.Coffee is served with a shot of optimism as Canadian futures are on the rise, boosted by stronger crude prices. U.S. futures are also inching higher ahead of today’s August Producer Price Index (PPI) report and initial jobless claims data—key indicators that could shape the Fed’s next move. Across the pond, European shares are climbing, buoyed by tech stocks, while Japan’s Nikkei ended its seven-day losing streak, helped by a weaker yen. However, Chinese stocks are struggling, closing at their lowest point in nearly six years, with consumer-related shares dragging the market down.

Gold is gaining as traders anticipate a possible Fed rate cut, and palladium has hit a two-month high due to supply concerns from top producer Russia. Oil is also ticking up, with Hurricane Francine threatening U.S. production.

Some companies we are watching in the news today:

  • Amazon (NASDAQ: AMZN): AWS plans to invest 10.1 billion reais in Brazil to expand its data center operations.
  • Eli Lilly (NYSE: LLY): Investing $1.8 billion in Irish manufacturing to boost production for its top-selling obesity and Alzheimer’s treatments.
  • IBM (NYSE: IBM): Taking a $2.7 billion hit after transferring pension plan obligations to Prudential Financial (PRU).
  • Boeing (NYSE: BA): Factory workers are gearing up for a potential strike if today’s contract talks fall through.

In the metals market, copper and steel are making solid gains this morning, with copper up 1.01% and steel rising 2.33%. Meanwhile, lithium remains flat, and platinum is inching up 0.09%. Iron ore continues its slow climb after last week’s dip.

On the financing front, WCPD Inc. has made headlines with the close of a record-breaking $100 million Charity Flow-Through (CFT) financing for Skeena Resources Limited (TSX: SKE | NYSE: SKE). This deal marks the largest structured flow-through financing in Canadian history, a testament to the growing demand for innovative funding solutions in the resource sector.

Economic data to keep an eye on initial jobless claims are expected to come in at 230,000 (USA), while building permits for July are forecasted to jump by 7.1%.

Also—did you see that we are sponsoring the ArcStone-Kingswood Growth Summit 2024 Event? And yes, you are invited, and it is FREE, but you must register.

Details:

  • Main Event: 8:00 AM – 5:00 PM
  • Date: Thursday, September 26th, 2024
  • Cocktail Reception: 5:00 PM – 7:00 PM
  • Venue: Sheraton Centre Toronto Hotel, Dominion Ballroom, 123 Queen St W, Toronto, Canada
  • To register for the ArcStone-Kingswood Growth Summit 2024, click here

Excerpt from the news release titled InvestorNews Inc. Becomes Official Media Sponsor for the ArcStone-Kingswood Growth Summit 2024: InvestorNews Inc., a leader in capital market digital media solutions and the publisher of Investor.News (InvestorNews.com), is delighted to announce its role as the official media sponsor for the upcoming ArcStone-Kingswood Growth Summit 2024. This premier event, set to take place on Thursday, September 26th, 2024, at the Sheraton Centre Toronto Hotel, will bring together influential companies, investors, and financial leaders from across North America and beyond.

About ArcStone Securities and Investments Corp.: ArcStone Securities and Investments Corp., based in New York City and Toronto, is a distinguished cross-border financial services firm specializing in a wide array of financial offerings, including equities, crowdfunding, mergers and acquisitions advisory, and complex debt structuring. As a vanguard investment firm deeply entrenched in global financial markets, ArcStone is dedicated to guiding both private and public issuers through strategic milestones with a focus on global mid-market companies valued between US$20 million to US$1 billion.

Publisher’s Note: Tracy Hughes uses a variety of sources for her daily market update series called “InvestorCoffee.” This series is intended to be a brief summary of daily market highlights that the InvestorNews team finds interesting. This summary is meant to inspire research, investigation, and due diligence, and we encourage you to always seek licensed professional advice with any investment decision. While Tracy is a professional writer, she is not a licensed investment advisor. And yes, Tracy uses ChatGPT and other technology devices to help distill information and prioritize business data — while sipping her daily coffee! For more information email us at [email protected].