Exxon Mobil<\/strong>: Exxon posted a $9.1 billion third-quarter profit, a 54% drop from a year ago but up 15% from the prior quarter due to recovering oil prices.<\/p>\n Amazon<\/strong>: Amazon’s cloud business showed signs of growth, with a strong third-quarter performance, while consumer spending remained cautious for the upcoming holiday season.<\/p>\n JPMorgan<\/strong>: CEO Jamie Dimon plans to sell a portion of his stake in the bank in 2024, marking his first stock sale during his tenure.<\/p>\n Chevron<\/strong>: Despite higher oil prices, Chevron reported a slump in third-quarter profit, shortly after agreeing to acquire U.S. rival Hess for $53 billion.<\/p>\n Western Digital<\/strong>: Merger talks between Western Digital and Japan’s Kioxia have stalled due to opposition from Kioxia investor SK Hynix.<\/p>\n Stocks to Watch<\/strong>: Several companies reported their quarterly results, including Amazon, Arthur J. Gallagher, Bio-Rad Laboratories, and more.<\/p>\n Deals of the Day<\/strong>: Rithm Capital will acquire Sculptor Capital Management, and various other deals were announced.<\/p>\n Other News<\/strong>: Apple faces potential import bans on Apple Watches, Berkshire Hathaway is sued by the Haslam family, and GM’s driverless car unit, Cruise, suspends operations in response to regulatory concerns.<\/p>\n Analysis<\/strong>: There are early signs of a revival in dealmaking on Wall Street, offering hope for a pickup in investment banking revenues after a lackluster third quarter.<\/p>\n Carbon Tax Exemption<\/strong>: Canadian Prime Minister Justin Trudeau announced a three-year exemption from carbon tax for home heating oil and higher carbon tax rebates for people in rural areas. These measures are aimed at providing relief to Canadians facing the rising cost of living.<\/p>\n Stock Market<\/strong>: The Canadian main stock index was trading higher, likely influenced by rising oil prices driven by concerns of escalating conflict in the Middle East following reports of U.S. military strikes in Syria. Wall Street futures were also trading higher due to positive forecasts from Amazon.com and Intel, along with a decrease in Treasury yields. European shares were relatively stable, and the Nikkei in Japan closed higher, with a focus on chip-related stocks. Gold and the U.S. dollar were trading lower.<\/p>\n Stocks to Watch – Reitmans Canada Ltd<\/strong>: Toronto-based hedge fund firm Donville Kent Asset Management provided recommendations to Reitmans Canada Ltd. They suggested that the company could benefit by eliminating its dual-class share structure and conducting a stock buyback. This move could potentially result in the Reitman family regaining control of the company. The hedge fund also encouraged Reitmans to restore its listing on the main Toronto Stock Exchange (TSX).<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" US Market Summary Exxon Mobil: Exxon posted a $9.1 billion third-quarter profit, a 54% drop from a year ago but up 15% from the prior…<\/p>\n","protected":false},"author":3,"featured_media":39653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-41917","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-blog","post_format-post-format-image"],"acf":[],"yoast_head":"\nCanada Market Summary<\/h2>\n