Here are five things you need to know this morning
Carney escapes from Washington unscathed: Prime Minister Mark Carney’s meeting with U.S. President Donald Trump went about as well as could be expected. Their appearance before the cameras appeared civil, with the Prime Minister pushing back on Trump’s repeated comments about making Canada America’s 51st state, without provoking a conflict. While both sides said the meetings did not yield any concrete developments in trade tensions between the two countries, there is optimism the meeting will serve as a “reset” in relations.
Fed rate announcement today: Today’s big event in Washington is the latest interest rate announcement from the U.S. Federal Reserve. It is widely expected the Fed will hold rates unchanged, however traders will monitor Fed Chair Jerome Powell’s post-announcement news conference for insights on where rates could go next. It’s a precarious moment for the central bank leader as he deals with criticism from Trump, who has said his termination “could not come fast enough.” The Fed meeting also comes amid concerns that Trump’s tariff plans could push inflation higher, complicating the central bank’s path for interest rates.
Barrick benefits from gold price surge: Toronto-based Barrick Mining reported higher-than-expected profit in its latest quarter, at a time of record selling prices for gold. Production came in at the top end of the company’s guidance range. Rising bullion prices helped Barrick offset a rise in costs and the ongoing suspension of operations in Mali amid a dispute with the military regime there. Yesterday, Barrick officially removed the word gold from its name as it moves further into copper.
Parks and streaming boost Disney: Shares of Walt Disney traded higher in the premarket, after the entertainment giant reported fiscal second-quarter results that beat Wall Street estimates and raised its outlook for the full year, citing strong performances from theme parks and streaming. Disney’s experiences division, which includes its resorts and cruises, was buoyed by more visitors to parks in California and Florida, and higher holiday package sales. The entertainment division was boosted by recent price increases across the company’s streaming services, including Disney+ and Hulu.
WeightWatchers files for bankruptcy: The rise of Ozempic and other weight-loss drugs has driven a well-known company into bankruptcy. WeightWatchers, known for its diet programs once endorsed by celebrities including Oprah Winfrey, has filed for bankruptcy protection. The company made a prepackaged Chapter 11 filing for a lender-backed plan that would cut about US$1.15 billion in debt from its balance sheet. The proposed restructuring must be approved by a bankruptcy judge. WeightWatchers tried to ride the weight-loss drugs wave by offering a few on its platform but found it challenging to convince clients that its programs still made sense.
