The Daily Chase: First Quantum strike averted; Canopy Growth shares up

Here are five things you need to know this morning.

Here are five things you need to know this morning.

Recovery Day: Last week’s sell-off took the S&P 500, Dow Jones Industrial Average and NASDAQ below their 50-day moving average. The TSX is trading below its 50, 100 and 200-day averages. Today has a risk-on flavour coming from an article in the WSJ that suggests the Federal Open Market Committee could be on pause for the rest of the year. The U.S. Federal Reserve’s meeting is next week and ahead of that, we will get inflation data on Wednesday and retail sales data on Thursday.  Currency moves are also catching my eye: the U.S. dollar is weaker against the Japanese yen after the Bank of Japan governor hinted at the idea of ditching negative rates. The Chinese yuan is bouncing off a 16-year low as officials warned FX speculators of one-sided bets. The euro is modestly higher after eight weeks of declines against the greenback. The European Central Bank rate decision is Thursday.

Dojo Mojo: Shares of Tesla are rising after noted Morgan Stanley analyst Adam Jonas upgraded the stock after just 2.5 months on the sidelines. He’s also nearly doubled his price target to US$400 per share (street-high). And the call has nothing to do with cars. Tesla has a supercomputer called Dojo that can handle a boatload of data needed to train driving systems. This could be the bedrock of Tesla’s full self-driving system and add $500 billion in market value.