final trading session of the week as yesterday's broad-market rally fizzles. U.S. equity market futures are lower across the board as investors continue to digest a stream of corporate earnings, including Intel's dour revenue forecast for the first quarter and await the big event of next week when the U.S. Federal Reserve delivers its first monetary policy decision of the year.
Western Forest Products is indefinitely putting its Port Alberni facility on ice as it looks for an economically-viable path forward for the mill alongside partners including local first nations. The company announced back in the fall that it would be temporarily shutting down the facility for six months, putting 100 employees out of work.
In what can only be described as a worrying sign for newsletter writers, shares of Buzzfeed surged 120 per cent yesterday after the media firm outlined plans to use OpenAI – the company behind ChatGPT – to bolster its content creation. In an internal memo, the company's CEO said “AI inspired content” will become “part of our core business” this year.
Shares of Bed, Bath & Beyond took it on the chin in yesterday's trade, falling 22 per cent after the retailer inched closer to bankruptcy, disclosing it had received a default notice from JPMorgan.Notable data: Ottawa's Fiscal Monitor, U.S. Personal Income & Consumption, University of Michigan Consumer Sentiment Index