Wall Street finishes firmly lower
Trump taunts Russia via Twitter
Facebook nudges up as Zuckerberg testifies again
TSX up eight point
Wall Street shares closed firmly lower and the Dow Jones shed over 218 points.
The benchmark index closed at 24,189. Investors around the globe are shunning stocks amid fears of a US air strike on Syria and trade war worries to name but two.
The broader based S&P 500 shed around 14 points at 2,642.
The Nasdaq lost over 25 points at 7,069.
In Toronto, the TSX is up around eight points at 15,270.
Facebook (NASDAQ:FB) shares nudged higher, up 0.78% at US$166.32 as a nervous looking Mark Zuckerberg appears to be roundly winning the verbal battle as he appears to face questions again in Congress.
American Airlines Group Inc (NASDAQ:AAL) flew over 4% lower to US$45.40 despite it saying it now expects its first quarter total revenue per available seat mile to be up about 3 to 4% year-over-year versus its previous guidance of up approximately 2-4%.
MID-SESSION
US stocks were mixed at mid-session but generally lower as trader tensions persisted due to escalating tensions between the US and Russia over Syria.
The Dow Jones was down 118 at 24,289, while the S&P 500 shed around five points at 2,651.
The tech heavy Nasdaq index was near flat at 7,093.
In Canada, the S&P/TSX Composite Index was up around 26 at 15,288 , while the TSX-V added around three points at 779.48.
In stocks in Toronto, Suncor Energy Inc (TSE:SU) added 1.86% to C$47.17 as crude prices firmed.
Big cap digger Goldcorp Inc (NYSE:GG) picked up 2.86% in New York to US$14.40.
On TSX, the largest decliner was Prometic Life Sciences Inc (TSE:PLI), which lost 5.88% to C$0.80.
On Wall Street, a notable mover was CymaBay Therapeutics Inc (NASDAQ:CBAY), which added 12.26% to US$ 13.55 after the company revealed 'positive' new 12-week and 26-week results from its ongoing Phase 2 study of seladelpar in patients with primary biliary cholangitis.
President Trump tweeted earlier:
Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and “smart!” You shouldn’t be partners with a Gas Killing Animal who kills his people and enjoys it!
— Donald J. Trump (@realDonaldTrump) 11 April 2018
OPEN
US stocks started lower on Wednesday, as expected, as traders flee shares due to geopolitical tensions and Trump taunts Russia over Syria.
The Dow Jones is off around 142 at 24,265, while the S&P 500 shed around 11 points at 2,645.
The Nasdaq lost around 23 points at 7,071.
In London, FTSE 100 shed around 2.6 at 7,264.
US crude- West Texas Intermediate, added 0.95% to US$66.13 a barrel.
President Donald Trump hit back at Russia via Twitter, promising to fire missiles at Syria in response to a recent chemical weapons attack allegedly carried out by the government of Syrian President Bashar Assad.
"You shouldn't be partners with a Gas Killing Animal who kills his people and enjoys it!" he tells Russia.
In stocks, Fastenal Co (NYSE:FAST) lost 4.96% to US$51.72 after the maker of fasteners and manufacturing tools reported first quarter profit and sales that were just in line.
Analogic Corp (NASDAQ:ALOG), a maker of medical-imaging products, said it agreed to a takeover by private-equity firm Altaris Capital Partners in a deal valued at US$1.1bln.
Altaris Capital will pay US$84 a share, Analogic said in a statement yesterday after the market close. Shares shed around 13% to US$83.15.
Tesla (NASDAQ:TSLA) shares were up 0.34% to US$305.86 despite Goldman Sachs analysts taking a bearish stance on the firm yesterday, lowering their price target on the stock to what would amount to a 36% decline.
The analysts said that the Silicon Valley electric-car maker is likely to have to tap capital markets this year regardless of what it has told investors.