* Canadian dollar rises 0.1% against the greenback

* Loonie trades in a range of 1.3116 to 1.3157

* Price of U.S. oil increases 1.6%

* Canadian bond yield ease across a flatter curve

TORONTO, Oct 14 (Reuters) – The Canadian dollar edged higher
against its U.S. counterpart on Wednesday as oil prices rose and
Wall Street steadied, with the loonie clawing back some of the
previous day’s decline ahead of comments by Bank of Canada
Deputy Governor Timothy Lane.

The loonie was trading 0.1% higher at 1.3126 to the
greenback, or 76.18 U.S. cents, having traded in a range of
1.3116 to 1.3157. Tuesday’s decline for the loonie broke a
string of four straight daily gains.

Futures tracking the S&P 500 were slightly higher after
being pressured the previous day by fading hopes of a deal on
federal aid as well as a halt in trials of a COVID-19

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WASHINGTON ― Over recent months, the U.S. Defense Logistics Agency has awarded hundreds of millions of dollars in contracts for the federal response to the coronavirus pandemic, but that’s not necessarily benefitting the Defense Department’s usual vendors.

In fact, the Pentagon contracting arm is seeing fewer small businesses in its traditional supplier base competing for contracts in the wake of the coronavirus pandemic, the director of the DLA’s Office of Small Business Programs, Dwight Deneal, said Tuesday.

“Our percentages [of small business involvement] are as high as they’ve ever been over the past five years, but we are recognizing that the participation level from our supplier base’s standpoint has steadily declined,” Deneal said at a small business panel at the Association of the U.S. Army’s annual meeting, which was being conducted virtually.

“So [the DLA is] looking at the gaps in there and how do we strategically attack those areas

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The International Monetary Fund announced on Tuesday new economic projections that mix both slightly better news for the short term and not-so-good news for the long term, as the coronavirus pandemic continues to hinder global growth.

The organization’s latest World Economic Outlook projects a global decline of 4.4% in 2020 – painting a rosier picture compared to its last update in June, when a 4.9% contraction was projected. The improved forecast reflects both better-than-expected second quarters – mostly for advanced economies – and indicators of strong recovery in the third quarter, according to the report.

A return to growth among advanced economies and China helped drive the revisions, the report notes. Chinese officials said on Tuesday that the country’s growth in exports accelerated in September, buoyed by a global demand for masks and medical supplies.

But the IMF also again downgraded its global outlook for 2021, projecting growth

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Wall Street expects a year-over-year decline in earnings on higher revenues when The First Bancshares (FBMS) reports results for the quarter ended September 2020. While this widely-known consensus outlook is important in gauging the company’s earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management’s discussion of business conditions on the earnings call, it’s worth handicapping the probability of a positive EPS surprise.

Zacks Consensus Estimate

This bank holding company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of -25.7%.

Revenues are expected

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SINGAPORE – Oil prices dropped for a second straight session on Monday as U.S. producers began restoring output after Hurricane Delta weakened, while a strike that had affected production in Norway came to an end.

Brent crude LCOc1 for December fell 55 cents, or 1.3%, to $42.30 a barrel by 0023 GMT and U.S. West Texas Intermediate CLc1 for November was at $40.08 a barrel, down 52 cents, or 1.3%.

Front-month prices for both contracts gained more than 9% last week, the biggest weekly rise for Brent since June, but fell on Friday after Norwegian oil firms struck a wage bargain with labour union officials, resolving a strike that threatened to cut the country’s oil and gas output by close to 25%.

HURRICANE DELTA ROILS OIL RIGS, SQUEEZES GASOLINE PRICES

“We had good support for both Brent

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FILE PHOTO: People walk at the central business district, amid the coronavirus disease (COVID-19) outbreak, in Singapore July 14, 2020. REUTERS/Edgar Su

SINGAPORE (Reuters) – Singapore’s economic decline is expected to have slowed significantly in the third quarter as the city-state loosened coronavirus curbs, giving the central bank room to keep monetary settings unchanged when it meets next week.

Gross domestic product (GDP) is expected to contract 6.8% from the same period a year earlier, according to the median forecast of 11 economists in a Reuters poll, marking the third straight quarter of decline. The economy had shrunk 13.2% in April-June – its worst performance on record as the country went into lockdown.

GDP may jump 35.3% on a quarter-on-quarter seasonally adjusted and annualised basis in July-September, the poll showed, picking up from a 42.9% plunge in the second quarter.

“We expect a rebound from

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Brazil’s economy is set to shrink by 5.8 percent in 2020, the International Monetary Fund said Monday, revising up an earlier forecast but warning the country faced “excpetionally high” risks.

“The economy is projected to shrink by 5.8 percent in 2020, followed by a partial recovery to 2.8 percent in 2021,” the IMF said in its annual report on Latin America’s largest economy.

The report released Monday revised upwards the more pessimistic forecast of a 9.1 percent contraction in June.

Aerial view showing factories at the Manaus Duty Free Zone (ZFM), Amazonas state, Brazil, in September 2020 Aerial view showing factories at the Manaus Duty Free Zone (ZFM), Amazonas state, Brazil, in September 2020 Photo: AFP / Michael DANTAS

It praised the right-wing government of President Jair Bolsonaro for its “swift and substantial” response to the economic crisis prompted by the coronavirus pandemic.

The government increased health spending, boosted financial support for state governments, extended state-backed credit lines and introduced employment retention schemes, which helped protect formal

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Today’s column addresses questions about whether the Covid-19 pandemic’s affect on the economy will reduce future Social Security benefits, taking spousal benefits before retirement benefits at 70, how spousal benefits are calculated and filing options after two marriages. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize My Social Security and MaxiFi Planner.

See more Ask Larry answers here.

Have Social Security questions of your own you’d like answered? Ask Larry about Social Security here.


Will Covid-19’s Economic Slowdown Reduce Future Social Security Benefits?

Hi Larry, I’m reading articles like this that claim the economic downturn caused by the Covid-19 pandemic will depress future Social Security benefits for some. How likely is this to happen? Can anything be done about it? It seems unfair that people who had nothing to do with

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The Wednesday Market Minute

  • Global stocks slide following a chaotic Presidential debate during which President Donald Trump once again refused to commit to a peaceful transition of power.
  • President Trump, and former Vice President Joe Biden traded insults and interruptions in an unedifying 90 minute spectacle that likely changed the minds of very few voters.
  • Germany is using targeted restrictions to tame a resurgent coronavirus, and hopes to avoid a nation-wide lockdown, as the pandemic continues to spread across Europe.
  • Oil prices drift lower as the dollar rallies in safe-haven trading ahead of EIA data on domestic inventory at 10:30 am Eastern time.
  • U.S. equity futures suggest a modestly firmer open on Wall Street, but still the first monthly loss since March, after ADP jobs data  and a final Q2 GDP reading.

U.S. equity futures turned higher Wednesday, while the dollar pushed higher and safe-haven assets rallied, as markets reacted

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Business activity in Japan’s private sector continued to decline in September, according to the flash PMI data, setting the scene for further economic weakness in the third quarter. Other survey indicators point to a challenging recovery in the coming months, with demand conditions still subdued.

However, some rays of light are appearing. Despite showing the downturn persisting into the end of the third quarter, the survey also showed some encouraging signs: labour markets moving towards stabilisation and business confidence strengthening further, noticeably among goods producers, amid rising expectations that the pandemic will be brought under control in the year ahead.

Broad-based downturn persists

The headline au Jibun Bank flash Composite PMI, compiled by IHS Markit and based on 85-90% of responses received from the monthly surveys, edged up from 45.2 in August to 45.5 in September. The index signalled a further marked decline in private sector output across both manufacturing

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