Halloween may be over but that doesn’t mean it isn’t still scary on Bay Street and Wall Street. On July 27 the S&P 500 hit a 52-week high of 4,240, putting it up 19.5% year-to-date. The big moves defied logic, with inflation stubbornly high and interest rates still on the rise. But then stocks started […]
Tag Archives: stock market
17
Oct
Oct
Bank of Canada Governor Tiff Macklem said that the central bank’s aggressive interest rate policy is working at bringing down inflation. After raising its key lending rate 10 times since the start of 2022, from 0.25% to 5.0%, Canada’s inflation rate has retraced from a 39-year high of 8.1% in June 2022 to 4.0% today. […]
19
May
May
Statistics Canada surprised the markets when it announced that the country’s inflation rate rose unexpectedly in April to 4.4%. After cooling in March to 4.3%, economists were expecting the inflation rate to continue decelerating to 4.1%. This represents the first increasing in inflation since June 2022, when Canada’s inflation rate hit a more than 40-year […]
17
May
May
The Canadian dollar is taking a hit against the U.S. dollar, after positing its biggest decline since March. The Canadian dollar, which is trading at $1.33 compared to the U.S. greenback is down 0.8% over the last few trading days and has lost 3.7% of its value over the last year. The Canadian dollar is […]
09
May
May
The U.S. Federal Reserve continued its inflation fighting ways on May 3 after it lifted its key lending rate by 25 basis points from a target range of 5.00% to 5.25%. This represents the 10th straight interest rate hike and the highest level since the autumn of 2007. Since it started raising interest rates in […]
02
May
May
First quarter earnings season has begun and the outlook for Canadian stocks is muted, with analysts lowering their first quarter earnings estimates more than average for S&P/TSX Composite companies. First quarter estimated earnings, on a per share basis, decreased by 8.9% from December 31 to March 31. This decline is far larger than the five-year […]
25
Apr
Apr
Statistics Canada announced that Canada’s inflation rate fell to 4.3% in March from 5.2% in February—the slowest pace since August 2021. Any deceleration in inflation is welcome, but the 4.3% rate is still more than double the Bank of Canada’s two percent target. On a month-over-month basis, the consumer price index (CPI) was up 0.5% […]
18
Apr
Apr
Did The Bank of Canada Raise Interest Rates? Once every quarter the Bank of Canada updates its policy and provides an economic outlook. Historically, most Canadian’s don’t pay a lot of attention to these announcements. But ever since inflation soared to 40-year highs last summer, investors and Canadians alike have been paying close attention to […]
13
Apr
Apr
Some analysts don’t provide guidance on energy stocks because the outlook for oil and gas can be hard to gauge. But some unexpected news just gave Canadian energy stocks an unexpected boost. Oil prices surged on Monday, April 3 after the Organization of the Petroleum Exporting Countries and their allies (OPEC+) shocked the market by […]
04
Apr
Apr
The year started out strong for the stock market. In January alone, the TSX and S&P 500 both rallied more than 6.5%. But over the past month, stocks have taken a hit, with the failure of Silicon Valley Bank injecting fear into growing concerns about additional bank runs. That said, turmoil in the banking industry […]
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