Daily News

Source: BNN Bloomberg August 05, 2023

The Week Ahead: Building permit data due; U.S. CPI

Saturday, August 5 Notable earnings: Berkshire Hathaway Monday, August 7 NOTE: BNN Bloomberg is dark, Canadian markets are closed Notable earnings: Tyson Foods, Beyond Meat Tuesday, August 8 Notable data: Merchandise Trade Balanc...

Source: BNN Bloomberg August 05, 2023

TSX recap: Index rises 0.57% amid gains in utilities stocks

Canada's main stock market rose more than 100 points to close out the week, driven by utilities, energy and financial stocks, while U.S. markets edged lower. The S&P/TSX Composite Index closed up 115.30 points, or 0.57 per cent, at 20,236.04. In New Yor...

Source: BNN Bloomberg August 05, 2023

Apple loses historic US$3T crown as sales disappoint

Apple Inc.’s market value is now decisively below the historic US$3 trillion level, after the iPhone maker’s outlook for the fourth quarter sparked worries over tepid demand for its handsets and other gadgets. Shares in the California-based company dropped...

Source: Financialpost August 05, 2023

Matthew Lau: Canadian governments are spending us into misery

Government spending does not stimulate economic growth (not even in recessions) Two statistics illustrate Canada’s disastrous economic outcomes in recent years and the bleak outlook. First, as Fraser Institute senior fellow and former Statistic...

Source: Financialpost August 05, 2023

Telus to lay off 6,000 workers as net income drops 61%

Cut includes 4,000 workers at its main Telus business and another 2,000 at Telus International VANCOUVER — Telus Corp. says it is cutting 6,000 jobs. We apologize, but this video has failed to load. Try refreshing your brow...

Source: Financialpost August 05, 2023

Canada has no plans to decrease immigration amid housing criticism, new minister says

'I don’t see a world in which we decrease it currently,' Marc Miller says Get the latest from Naimul Karim straight to your inbox Sign Up Canada’s new immigration minister said he is open to “having a conversation” on concerns raised...

Economy Source: Financialpost August 05, 2023

Labour market shows signs of cooling, but wage growth could be concern for Bank of Canada

Economy loses 6,000 jobs, unemployment rate rises to 5.5% The labour market hit a speed bump in July with the unemployment rate rising and the economy unexpectedly shedding jobs, suggesting the Bank of Canada’s interest rate hikes are working t...

Source: BNN Bloomberg August 04, 2023

Bonds slide before U.S. jobs; Amazon up in late trading

The slide in the world’s biggest bond market deepened and stocks fell ahead of the U.S. jobs report, which is expected to provide clues on the outlook for the Federal Reserve’s next steps. In late trading, Amazon.com Inc. climbed after a bullish revenue fo...

Source: BNN Bloomberg August 04, 2023

Bearish or bullish? Experts react to Shopify's Q2 earnings

Following the latest set of earnings from Shopify Inc., experts are split regarding the stock’s ability to provide value for investors.  On Wednesday, the Ottawa-based e-commerce company released its second-quarter results, which included a net loss of US$...

Market Call Source: BNN Bloomberg August 04, 2023

Chris Blumas' Top Picks: August 3, 2023

Chris Blumas, portfolio manager, Raymond James Investment Counsel  FOCUS: North American large caps  MARKET OUTLOOK: One of the primary drivers of the global economy has been the ongoing recovery from the pandemic. Many developed countries have exp...