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The Stock Market Had Its Best August in More Than 30 Years, But September Could Tell a Different Story

How Did Stocks Do in August? The broader markets crumpled in March on fears that the coronavirus was going to cobble Wall Street. COVID-19 has wreaked havoc on the global economy, but the markets have been going in the opposite direction, with investor optimism fueled by encouraging economic data and the Federal Reserve’s loose monetary […]

Stocks Overvalued as S&P 500 Hits Record Levels, Marking the Shortest Bear Market in History

When Did The S&P 500 Hit a New Record? That was quick. The S&P 500 hit a record intra-day high on Wednesday, August 12 of 3,387.89, besting the previous record closing level of 3,387.15 from February 19. The S&P 500 closed out the day slightly below that level at 3,380.35. On August 18, the S&P […]

Investors Bullish on Gold as Price Surges 30% Since March, Closing in on 2011’s Record High

Why Is Gold So Bullish? The price of gold has been surging this year. Currently hovering at a nine-year high of around $1,870 per ounce, gold prices have soared 23% year-to-date and have climbed 30% since the COVID-19-fueled sell-off in March. The price of gold is expected to set a new record in the coming […]

Canadian Economy Will Remain Weak for the Next Decade Because of COVID-19

What Is the Outlook for the Canadian Economy? It doesn’t appear as though the Canadian economy will experience a quick recovery. In fact, because of the devastating effects of COVID-19, the Canadian economy is expected to underperform for the next decade, as low commodity prices, weak foreign demand, and high household and business debt will […]

Thanks to COVID-19, Canada and the U.S. Are Now Dealing with Two Recessions

Are Both Canada and the U.S. in a Recession? Canada and the U.S. are both currently battling two recessions. The first is a short-term recession fueled by the coronavirus; eventually the number of infections and deaths will flatten, and a vaccine will be available. The second is a more traditional long-term economic slump; that one […]

Stocks Reported One of the Best Quarters Despite Awful Shape of U.S. and Canadian Economies

How Did Stocks Do in the Second Quarter? Despite the fact that the U.S. and Canadian economics tumbled into a COVID-19-fueled recession, U.S. stocks ended up having their best quarter in more than 20 years and are trading at or near record levels. Unfortunately, that investor optimism may be misplaced. The U.S. and Canadian economies […]

Canada Loses Triple-A Credit Rating as Finances and Economy Take a Beating from COVID-19

Why Did Canada Lose Its Triple-A Rating? Canada became the first major economy in the world to lose its coveted triple-A rating because of the COVID-19 fueled economic downturn. Now poised to post its largest deficit on record, the COVID-19 pandemic has sent the country into a recession and resulted in soaring unemployment, massive spending, […]

Has COVID-19 Permanently Damaged Large Parts of the Canadian Economy?

How Will COVID-19 Impact the Canadian Economy Long-Term? COVID-19 has most likely done permanent damage to the Canadian economy and left it in a big hole. The economic downturn has been historic with the sharpest GDP contraction in history. The biggest questions right now are, which sectors have been hit the hardest and what will […]