Business

Canada’s main stock index and its U.S. counterparts rallied Tuesday as investors pushed aside some of their concerns about a frothy tech market and became cautiously optimistic the Strait of Hormuz could soon reopen.

Thousands of accounts were hacked and more than $140 million in bitcoin was stolen after a flaw was revealed in security devices sold by a Canada-based company.

Home sales in Calgary were down in July compared with a year ago as prices also fell, which the city’s real estate board says is partly due to “persistent oversupply” of condominiums.

Merck reported higher-than-expected second-quarter sales on Tuesday and raised its full-year revenue forecast on the strength of its top-selling cancer treatment Keytruda.

Kimberly-Clark cut annual sales and profit forecasts on Tuesday and said false claims about its diaper quality in China will continue to be a problem after hurting second-quarter sales.

Caterpillar raised its annual revenue growth forecast after beating second-quarter profit estimates on Tuesday, benefiting from a buildout of AI data centers that has spurred demand for its power-generation and construction equipment.

Pfizer Tuesday slightly raised the lower end of its full-year revenue forecast after beating Wall Street estimates for second-quarter profit, driven by strong demand for blood thinner Eliquis.

McDonald’s on Tuesday missed U.S. sales growth expectations for the second quarter, blaming execution lapses that blunted its value push aimed at lower-income consumers who have been cutting back restaurant spending.

Flight disruptions continue at WestJet as the airline ramps up following a brief work stoppage over the long weekend.

Novo Nordisk, the maker of weight-loss drug Wegovy, reported a second-quarter adjusted operating profit above forecasts on Tuesday and raised its full-year profit and sales outlook.

Spotify said higher marketing and development costs would hurt its profit in the current quarter as the Swedish music-streaming giant bets heavily on features powered by AI to attract users.

Canada’s merchandise trade surplus increased to $3.9 billion in June as a weaker loonie pushed trade values higher, Statistics Canada said on Tuesday.

Meta, Anthropic, Google and OpenAI staff will meet with U.S. President Donald Trump’s advisers on Tuesday about voluntary safety testing for advanced AI models, according to four sources familiar with the meeting, as concerns over rogue AI agents grow.

Investors in Elon Musk’s space company get a chance to question him Tuesday after SpaceX issues its first quarterly earnings since going public.

The world has lost more than 2.6 billion barrels of oil since the U.S.-Israeli war with Iran began in February, the head of Saudi oil giant Aramco said, warning that global inventories were running low despite emergency measures to cushion the blow.