• China coronavirus claims sixth victim as holiday travel heightens infection risks
The death toll from the coronavirus outbreak in China climbed to six as
authorities reported a surge in new cases, with fears that hundreds of
millions of people travelling for the Lunar New Year holiday will
accelerate the infection rate.
• Huawei CFO's legal team to contest U.S. extradition in day 2 of Canada hearing
Huawei Chief Financial Officer Meng Wanzhou is set to return to a
Vancouver court, where her lawyers will build on their arguments against
the U.S. extradition request that they say is based a sanctions
violation and not bank fraud.
• Trump calls for more overseas investment in U.S. as impeachment trial begins
Thousands of miles from his Washington impeachment trial, President
Donald Trump took centre stage at Davos to tout the success of the U.S.
economy, while criticising the U.S. Federal Reserve.
• Apple dropped plan for encrypting backups after FBI complained -sources
Apple dropped plans to let iPhone users fully encrypt backups of their
devices in the company's iCloud service after the FBI complained that
the move would harm investigations, six sources familiar with the matter
• U.S. Treasury's Mnuchin says Phase 2 trade deal may not remove all tariffs - WSJ
The Phase 2 trade deal with China would not necessarily be a "big bang"
that removes all existing tariffs, U.S. Treasury Secretary Steven
Mnuchin told the Wall Street Journal in an interview.
BEFORE THE BELL
Futures for Canada’s main stock
index traded lower, dragged down by oil prices which fell on easing supply disruption concerns from Libya. Wall Street
futures and global stocks took a hit from fears of an economic fallout from a new coronavirus outbreak originating in China. Safe-haven gold pared
gains, while the U.S. dollar steadied. Manufacturing data is due for release.
ANALYSIS - DAVOS
change pushes investors to take their temperature
Move over revenue growth and dividend payouts: it's time to take your
portfolio's temperature. Policymakers are pushing investors to do more
to ensure their portfolio choices help to meet the 2015 Paris Agreement
to combat climate change by limiting planetary
warming to well below 2 degrees Celsius, and preferably to 1.5C. A
vanguard of insurers and pension funds, many of whom will be in Davos
this week for the annual meeting of the World Economic Forum, say part
of the answer is a new "temperature score" that
gives a snapshot of how their investments are contributing to climate
• Boyd Group Services Inc (BYD).
National Bank of Canada raises target price to
C$240 from C$205, following the company’s conversion to a corporate
structure and acquisition of nine locations in Southern California.
• Enerplus Corp (ERF).
National Bank of Canada cuts target price to C$13.50 from C$15,
considering the company’s modestly tapered outlook, including lower
capital spending, production volumes
and consequently, cash flow.
ECONOMIC EVENTS (All timings in U.S. Eastern Timings)
0830 Manufacturing sales mm for Nov: Expected -0.3%; Prior -0.7%
COMPANIES REPORTING RESULTS
No major companies are scheduled to report for the day.
Rogers Communications Inc (RCIb). Expected Q4 earnings of C$1.03 per share
No major events are scheduled for the day.
Inter Pipeline Ltd (IPL). Amount C$0.14
Keyera Corp (KEY). Amount C$0.16
Parkland Fuel Corp (PKI). Amount C$0.09
(All analysts' estimates are according to I/B/E/S Refinitiv data.)