Dow futures lower ahead as investors await Powell's speech - CNBC

U.S. stock index futures were lower on Tuesday morning, as traders waited to hear from Federal Reserve Chairman Jerome Powell.

At around 03:35 a.m. ET, Dow futures slipped 93 points, indicating a negative open of more than 100 points. Futures on the S&P and Nasdaq were also lower.

Wall Street closed lower on Monday on the back of negative sentiment in the tech sector. However, the big focus this Tuesday is on the Federal Reserve. Jerome Powell will give a testimony at 8:45 a.m. ET. This comes just after a stronger-than-expected jobs report raised questions about the central bank's rate policy.

Traders have priced in a 100% probability of a Fed rate cut in July, according to the CME Group's FedWatch tool. However, expectations for a more aggressive cut were tempered by the jobs data released Friday.

Furthermore, a new NFIB survey will be out at 6 a.m. and a new JOLTS report will be released at 10 a.m. ET.

In the corporate world, PepsiCo and Levi Strauss will update investors on their latest performance.

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https://www.cnbc.com/2019/07/09/stock-market-fed-jay-powell-to-give-testimony.html

2019-07-09 07:38:03Z
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Rogers outage: Can you be compensated for wireless service disruptions? - Yahoo News

Hundreds of passengers stranded after Swoop cancels or delays nearly 2 dozen flights - Global News

Low-cost airline Swoop cancelled or delayed nearly two dozen flights in a five-day period, leaving passengers stranded.In a statement, a spokesperson blamed the cancellations on an engine which had a leaking oil seal. The problem started on July 5, the company said.READ MORE: Frustrated passengers share stories after Swoop Airlines jet grounded at Hamilton airportStory continues belowRelated

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July 09, 2019 at 03:08AM

B.C. government says ride hailing services can operate starting Sept. 16 - Vancouver Sun

Our July guide to global central banks | Article - ING Think

Federal Reserve: Prevention versus cure

A ceasefire has been called in the US-China trade war, but we doubt the truce will hold for long given the two sides remain a long way apart on key issues such as technological transfers, intellectual property rights and the trade dispute resolution mechanism.

A new round of tariff hikes will contribute to more pronounced economic weakness by disrupting supply chains, putting up costs and hurting profit margins. Such an environment would be negative for equity markets and make US businesses more reluctant to invest and hire new workers.

Given the expectations of renewed trade tensions, we look for an early precautionary 25bp rate cut in July, followed up with another 25bp move in September

At the June FOMC meeting, the central bank talked of increased “uncertainties” about the economic outlook which they will “closely monitor”. Federal Reserve Chair Jerome Powell subsequently repeated his comment “an ounce of prevention is worth more than a pound of cure”. Given the expectations of renewed trade tensions we, therefore, look for an early, precautionary 25bp rate cut in July, followed by another 25bp move in September.

A 50bp July rate cut had been seen as a possibility at one point, but given St Louis Fed President James Bullard, who was the only Fed officials to have voted for a June rate cut, suggested such aggressive action “would be overdone”, this looks unlikely. Nonetheless, the market is pricing in three rate cuts in total this year with a further 25bp cut in early 2020.

We don’t expect such aggressive action given our belief that President Trump wants to win re-election and will, therefore, be prepared to sign a trade deal, probably in 4Q, that doesn’t necessarily meet all of his initial demands. A rising equity market and healthy economy gives him the best chance to succeed.

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July 08, 2019 at 05:18PM

Morinville dog food company among 16 brands linked to potential heart problems - Edmonton Journal

Several Canadian mobile service providers experiencing network outages - Daily Hive

Several Canadian mobile service providers are still experiencing network outages following an issue that began on Sunday.

Rogers, Chatr, and Freedom Mobile have all experienced the network outage, which doesn’t allow some customers to place or receive calls.

“Voice services are restoring with a very limited number of customers experiencing intermittent interruption to voice calls,” said Rogers spokesperson Michelle Kelly. “Teams are working hard to fully resolve the issue and we sincerely apologize to our customers.”

According to Rogers, they began restoring the system last night.

Chatr also said its network is experiencing the same problem.

Hello! We are aware that some of our customers are not able to place/receive calls at the moment. We apologize and are working to restore the service as fast as possible.

— chatr mobile (@chatrmobile) July 7, 2019

During the peek of the outage, the London Police Service in Ontario said that the outage meant that wireless users couldn’t call 911 for emergencies.

Please be advised the ROGERS network is down globally. Please use a bell provider or landline to contact 911. ROGERS is actively working to repair the issues.

— London Police ON (@lpsmediaoffice) July 7, 2019

They have since said that part of the outage has resolved, and 911 calls can be placed again as of Monday morning, Rogers confirmed.

Freedom Mobile said the industry-wide issue is not isolated to the individual wireless providers and some customers are still experiencing problems.

Some customers may still see temporary issues with some voice services. This is an industry wide issue that is not isolated to Freedom customers. We are aware of the situation and are actively investigating to find a resolution. Thank you for your continued patience.

— Freedom Mobile Care (@freedomsupport) July 8, 2019

There is no estimated time on when this may be resolved.

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July 08, 2019 at 10:57PM