Bank Of Canada Cuts; Staples Down; Plunging Auto Sales
First 50bps move since 01... The Bank of Canada cut its overnight rate 50bps to 3.5% amid signs
"that the U.S. economy is likely to experience a deeper and more prolonged slowdown than had been projected in January."
NA sales stapled down... Staples, the world's largest office supplies retailer,
said Q4 profit fell 1% on lower North American retail sales and cut its annual forecast.
Same store sales declined 6% as overall NA sales dropped 3.9%.
American Auto Execs... Worthless... Auto sales -6.3% vs Jan -4%.
Chrysler & GM -12.9%; Ford -6.6%; The Big 3 and Truck Sales -11% GM -19.3%; Chrysler -23.1%; Ford -4.7%.
American Honda +4.9; sub compacts +33%; The Honda Fit +69%... Nissan +1.2%; Toyota -2.8%; Yaris +71% Announced Q2 production cuts GM -5%; Ford -10%
"that the U.S. economy is likely to experience a deeper and more prolonged slowdown than had been projected in January."
NA sales stapled down... Staples, the world's largest office supplies retailer,
said Q4 profit fell 1% on lower North American retail sales and cut its annual forecast.
Same store sales declined 6% as overall NA sales dropped 3.9%.
American Auto Execs... Worthless... Auto sales -6.3% vs Jan -4%.
Chrysler & GM -12.9%; Ford -6.6%; The Big 3 and Truck Sales -11% GM -19.3%; Chrysler -23.1%; Ford -4.7%.
American Honda +4.9; sub compacts +33%; The Honda Fit +69%... Nissan +1.2%; Toyota -2.8%; Yaris +71% Announced Q2 production cuts GM -5%; Ford -10%
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