Dow Jones, Nasdaq Boosted By This Key Growth Sector; Is The Right Time To Buy Tesla Stock - Investor's Business Daily

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1. Dow Jones, Nasdaq Boosted By This Key Growth Sector; Is The Right Time To Buy Tesla Stock  Investor's Business Daily
2. US stocks sink following weak services sector report  ABC News
3. US stocks sink as US manufacturing shrinks again amid trade war  NEWS.com.au
4. Dow Jones Futures: Stock Market Rally Reeling As Apple, Boeing Fizzle; Tesla Deliveries Disappoint, E-Trade Goes To Zero Fees  Investor's Business Daily
5. Stocks: S&P Slumps as Weak Manufacturing Data Stuns Traders  Investing.com
6. View full coverage on Google News

https://www.investors.com/market-trend/stock-market-today/dow-jones-nasdaq-get-boost-from-growth-sector-right-time-to-buy-tesla-stock/

2019-10-03 18:22:30Z
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Toronto home sales surge 22% in September - BNNBloomberg.ca

The Toronto housing market continued to rebound in September, with prices rising the most in 21 months, bringing the cost of a typical home close to the record high set in 2017.

The benchmark price across all types of homes rose 5.2 per cent from a year earlier to $805,500, the highest annual rate of growth since December 2017. That’s about $10,000 short of the record set more than two years ago when soaring prices prompted a series of government policy changes to cool the market. Prices were driven higher by a decline in supply, with active listings down 14 per cent to 17,254.

Sales in the Toronto region jumped 22 per cent to 7,825 units from the same period last year, the Toronto Real Estate Board said Thursday. All housing segments saw double-digit gains, led by a 29 per cent sales jump for detached homes. Sales were well below the record set in September 2016 of more than 9,800, and on a seasonally-adjusted basis, sales fell 0.3 per cent from August.

The average price of a home in Toronto rose 5.8 per cent to $843,115, the highest price this year, though well below the peak of almost $921,000 set in April 2017.

Demand for homes in Canada’s biggest city continues to grow amid lower interest rates and a crunch in supply thanks to strong immigration flows. Buyers have also adjusted to stricter mortgage-lending rules put in place to cool the market. Sales in Vancouver rebounded 46 per cent last month after a policy-driven slump, though prices continue to dip.

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October 03, 2019 at 06:35PM

U.S. Crude Storage Will Show Counter-Seasonal Draw In October - Seeking Alpha

Welcome to the counter-seasonal edition of Oil Markets Daily!

There appears to be a lot of confusion on today's EIA weekly oil storage report, so we wanted to publish this along with our expectations for October for clarity sake.

For starters, EIA did not count ~500 to ~600k b/d of exports last week. The cut-off date for the vessels was on the 26th and 27th of September and for those of you that are aware of the EIA reporting standards, the cut-off time is Friday morning. So if the vessels left on Friday, this may have been counted in the following week instead.

Some of you also asked us questions on the difference in API vs EIA. API gets the same submitted data from participants on Monday, so export data timing varies, hence the divergence. Now for those of you keeping track, API vs. EIA difference last week was ~9 mbbls, or the largest single week positive jump since we started tracking this dating back to 2015.

So it's clear to us this is a timing issue.

Now for the month of October, the US will release SPR, so readers should keep in mind that the total SPR released in October will be around ~5.5 to ~6.2 mbbls.

US crude imports are going to set a new year-to-date low in October while exports remain elevated, creating a counter-seasonal draw pattern in October. How much will October decline by? We have -5 to -16 mbbls right now.

For next week, we are expecting a report of -1.7 mbbls.

Finalized figures get published to HFI Research subscribers on Friday, but this is roughly the figure we are seeing for this week.

Now if EIA did miscount the exports last week, then it will show up in next week's report. The volume that could outpace our estimate will be ~3.5 to ~4.2 mbbls.

So what does a counter-seasonal draw do to US crude storage by Nov. 1?

And again, this sets us up nicely for sub 380 mbbls by year-end.

Track Record So Far

This is our track record year-to-date. We are directionally correct 66.67% of the time with the average difference of 1.7 mbbls since the start of the year. Over the last eight weeks, we've been off an average of 2.11 mbbls.

We made our process improvement on June 14, since then this is our track record:

Source: HFI Research

Again, EIA weekly reports tend to vary depending on timing of exports and imports which swing the balances violently, so it's better to take an average over a period of time to judge the accuracy of the forecast.

Conclusion

Due to low US crude imports and high US crude exports, we expect a counter-seasonal draw in US crude storage for October. Our preliminary figures show -5 to -16 mbbls for October.

A counter-seasonal draw in October will help push US crude storage below ~380 mbbls by year end.

Thank you for reading this article. HFI Research also has a premium service that provides these reports to subscribers on a weekly basis:

If you are interested, see for yourself why we are the largest energy/value service on Seeking Alpha! We look forward to seeing you being part of the HFI Research community!

Disclosure: I am/we are long UWT. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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October 03, 2019 at 03:28AM

Toronto meat packer recalling beef, veal products over E. Coli concerns: CFIA - CTV News

TORONTO -- Canada's food safety watchdog says a Toronto meat packing company has issued a national recall of raw beef and veal products due to possible E. coli contamination.

The Canadian Food Inspection Agency says Ryding-Regency Meat Packers is recalling dozens of products produced on May 27 and May 30.

Food service establishments, retailers, distributors and manufacturers are being told to not serve, use, or sell the recalled products and people who have such products are being urged to return them.

The agency says food contaminated with E. coli O157:H7 bacteria may not look or smell spoiled but can still make you sick.

Symptoms can include nausea, vomiting, mild to severe abdominal cramps and watery to bloody diarrhea and in severe cases people may have seizures, strokes, suffer permanent kidney damage or die.

The CFIA says the recall was triggered by its inspection activities but says there have been no reported illnesses associated with the consumption of the recalled products.

Last month, the agency suspended Ryding-Regency's licence over compliance concerns.

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October 03, 2019 at 11:39AM

Pepsi's stock jumps 3% as higher advertising spending fuels sales growth and earnings beat - CNBC

A woman grabs a bottle of Diet Pepsi in Atlanta, Georgia.

Chris Rank | Bloomberg | Getty Images

PepsiCo on Thursday announced quarterly earnings and revenue that topped expectations, as its increased spending on advertising and marketing paid off for brands like Gatorade.

Shares of the food and beverage giant jumped 3% in premarket trading.

"Given our performance year-to-date, we now expect to meet or exceed our full-year organic revenue growth target of 4%," CEO Ramon Laguarta said in a statement.

The company reaffirmed its earnings outlook for fiscal 2019. It expects adjusted earnings per share, assuming constant foreign currency exchange rates, to decline by 1%.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Earnings per share: $1.56, adjusted, vs. $1.50 expected
• Revenue: $17.19 billion vs. $16.93 billion expected

Pepsi reported fiscal third quarter net income of $2.1 billion, or $1.49 per share, down from $2.5 billion, or $1.75 per share, a year earlier. The company's strategy for sales growth includes investing more on marketing and advertising its products.

Excluding the impact of foreign exchange, restructuring charges and other items, Pepsi earned $1.56 per share, topping the $1.50 per share expected by analysts surveyed by Refinitiv.

Net sales rose 4.3% to $17.19 billion, topping expectations of $16.93 billion.

Frito Lay North America, which includes brands like Cheetos and Doritos, saw revenue growth of 5.5%. Pepsi has been expanding its snack lineup with healthier options, through brands like Bare and Off the Eaten Path. Revenue growth from those healthier snacks and well-known chip brands helped offset the double-digit sales declines of Sabra hummus and guacamole dips. Pepsi owns a 50% stake of the hummus maker through a joint venture with Strauss Group.

Its North American beverage business also performed well, with 3.5% revenue growth. Gatorade improved its market share and saw positive net revenue growth during the quarter. The brand's no-sugar line, Gatorade Zero, which launched in May 2018, surpassed a half-billion dollars in retail sales.

Bubly, which the company expects will be one of its next billion dollar brands, is continuing to gain market share in the flavored sparkling water category against competitors like La Croix.

Pepsi's organic revenue also grew by 4.3% during the quarter.

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https://www.cnbc.com/2019/10/03/pepsico-pep-earnings-q3-2019.html

2019-10-03 10:45:47Z
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PepsiCo, Constellation Brands, Costco earnings — What to know in markets Thursday - Yahoo Finance

Markets have been off to a rocky start to kick off October and the fourth quarter. Three key earning reports — beverage giant PepsiCo (PEP), beer brand Constellation Brands (STZ) and big-box retailer Costco (COST) — could help boost stocks Thursday.

Ahead of the opening bell, PepsiCo and Constellation Brands take the spotlight.

Analysts are predicting that PepsiCo’s Frito-Lay North America business strength continued in the third quarter. Snacks have been the bright spot for the beverage giant over recent quarters. Though the beverage business has been underperforming snacks, analysts expect the North American beverages segment to show a bit of improvement. Investors will be paying close attention to full-year earnings and revenue guidance.

PepsiCo is expected to report adjusted earnings of $1.50 per share on $16.93 billion in sales, according to analysts polled by Bloomberg. Organic sales are projected to have grown 3.4% during the quarter. Frito-Lay North America is expected to have risen 5%, while 1.75% growth is anticipated for Beverages North America.

Corona beer bottles seen on the store shelf (Photo by Igor Golovniov/SOPA Images/LightRocket via Getty Images)

Constellation Brands will release fiscal second-quarter results and is expected to report adjusted earnings of $2.63 per share on $2.34 billion of revenue. Last month, the company said its Q2 results would include a $38.5 million net loss from its investment in Canopy Growth (CGC). Nevertheless, Constellations beer sales will be the focal point for investors and analysts.

Second quarter beer net sales are estimated to have totaled $1.64 billion and shipment volume is expected to have reached 92.97 million cases, up from 82.1 million cases in the first quarter. The options market is implying a nearly 6% move in either direction following Constellations earnings report.

Meanwhile, after the closing bell, retail giant Costco will release its fiscal fourth quarter financial results. Costco’s strong same-store sales momentum is expected to have continued in Q4. Excluding fuel and the impact of foreign exchange, same-store sales in the U.S. are expected to have risen 5.4% and 5.7% in Canada and international markets, respectively, according to Bloomberg-compiled estimates. Furthermore, strong loyalty among customers likely boosted membership revenue by 5.3% during the quarter. The retailer is expected to report adjusted earnings of $2.54 per share on $47.70 billion in revenue.

The ongoing trade war and U.S. tariffs on Chinese goods continues to be a concern for retailers. Investors will be paying attention to any additional commentary regarding the tariffs. Costco has been crushing its competitors. Shares have skyrocketed a whopping 40% this year, while Walmart (WMT) jumped 26%, and BJ’s Wholesale Club (BJ) rose 12% in the same time period.

Yahoo Finance All Markets Summit

—

Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

More from Heidi:

• Nestlé-owned Sweet Earth launches plant-based Awesome Burger

• Beyond Meat vs. Impossible Foods: Burger nutrition showdown

• McDonald's enters the chicken sandwich wars — and it's no Popeyes

Read the latest stocks and stock market news from Yahoo Finance

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https://finance.yahoo.com/news/pepsi-co-constellation-brands-costco-earnings-what-to-know-in-markets-thursday-094949333.html

2019-10-03 09:49:00Z
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Asian stocks slide as U.S. tariffs on EU fan growth worries - Investing.com

© Reuters. FILE PHOTO: The German share price index DAX graph at the stock exchange in Frankfurt

By Karin Strohecker

LONDON (Reuters) - World stocks hovered near four-week lows on Thursday and yields on major benchmark bonds slipped after Washington moved to impose new tariffs on European goods, fuelling fears about global growth and dousing risk appetite.

MSCI's index of world stocks () slipped 0.1%, with Asian shares plunging. Japan's Nikkei stock index () closing down 2%, its biggest one-day decline since Aug. 26.

However, European stocks eked out small gains after suffering their worst day since last December on Wednesday, when the U.S. got the go-ahead to impose tariffs on $7.5 billion of European goods.

Washington will enact 10% tariffs on Airbus (PA:) planes and 25% duties on French wine, Scotch and Irish whiskies and cheese from across the continent as punishment for illegal EU subsidies to Airbus.

But a reduction in the initial list propped up some sectors with the pan-regional STOXX 600 index () up 0.2%, torn between falls in financials and gains in luxury goods stocks. France's CAC index () rose 0.7% while Britain's FTSE 100 () fell 0.5%. German bourses - a weather vane for exports - were closed for a national holiday.

The latest U.S.-European trade tensions added to fears over the standoff between Washington and Beijing, which has cast a shadow over global growth prospects. Earlier in the week, disappointing data on U.S. manufacturing and the jobs market suggested the trade war with China had damaged the world's largest economy.

"The big question for a lot of folks is whether this is the third slowdown since the financial crisis or are we now heading for a global recession," said Anujeet Sareen, a fixed income portfolio manager and global macro strategist for Brandywine Global. "The wild card in the pack is always Donald Trump and whatever he tweets next."

U.S. stock futures () () indicated 0.4% higher, after shares fell the most in nearly six weeks on Wednesday. All three major New York share indexes lost more than 1.5%.

"Risk aversion is broadly on the rise and that has been triggered by the weakness in U.S. manufacturing ISM data earlier this week," said Manuel Oliveri, an FX strategist at Credit Agricole (PA:) in London.

"The outperformance of the U.S. economy compared to other major economies has held the dollar and other risky assets up but that has changed this week."

The flight to safety saw yields on two-year U.S. Treasury yields () slip to 1.4680%, nearing a two-year low of 1.4280%. Adding to pressure on yields was a weak U.S. jobs report, boosting expectations the Federal Reserve will cut interest rates this month.

Traders see a 72.8% chance the Fed will cut rates by 25 basis points to 1.75%-2.00% in October, up from 39.6% on Monday, according to CME Group's FedWatch tool.

Bets on a rate cut could rise further if a U.S. non-farm payrolls report on Friday shows weakness in the labor market.

Government bond yields in safe-haven Germany () fell for the first time in over a week.

In currency markets, the dollar dipped to one-week lows against the euro and yen. The greenback crossed 107 Japanese yen and touched a week low of 106.95 yen before recovering some ground. It fell to $1.0973 per euro (). The () slipped 0.1%.

Meanwhile, sterling was flat at $1.2306 as investors waited for a European Union response to Britain's latest Brexit offer, which Prime Minister Boris Johnson offered on Wednesday.

So far, the last-ditch Brexit proposal has received a cool reception. One senior EU official said it "can't fly" because it was an unworkable move backwards that left Britain and the EU far apart.

Brent crude () was flat at $57.84 per barrel. Energy traders are worried about a slowing global economy, an over-supplied market and geopolitical friction in the Middle East.

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https://www.investing.com/news/stock-market-news/asian-stocks-tumble-after-us-announces-tariffs-on-europe-1991148

2019-10-03 06:57:00Z
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