Daily News

Source: BNN Bloomberg July 23, 2022

TSX recap: Winning streak snapped as Shopify weighs down index

The S&P/TSX Composite Index’s winning streak was halted Friday as losses in the technology subgroup led a broadly lower day for Canadian stocks. At 4:00 p.m. ET, the Canadian benchmark index closed down 79.93 points to 18,982.92. The TSX had closed higher...

Source: BNN Bloomberg July 23, 2022

U.S. stocks end three-day rally on tech, growth woes

US stocks fell as disappointing results from social-media firms and weak economic data added to recession fears. Treasuries rallied as traders dialed back bets on Federal Reserve hikes, while the dollar retreated. The S&P 500 dropped for the first time in...

Market Call Source: BNN Bloomberg July 23, 2022

Shane Obata's Top Picks: July 22, 2022

Shane Obata, portfolio manager, Middlefield Capital FOCUS: Global large-cap stocks MARKET OUTLOOK: June was an extremely volatile month for equities with the S&P 500, TSX Composite and MSCI World, all declining by more than eight per cent. The S&P...

Source: BNN Bloomberg July 22, 2022

Tesla's rally creates US$1B headache for its army of shorts

The 10 per cent surge in Tesla Inc. shares Thursday after the electric-vehicle maker reported strong earnings is creating one notable group of losers: The pile of traders betting against the stock.  Tesla is the most shorted stock in the world, with almost...

Market Call Source: BNN Bloomberg July 22, 2022

Brian Madden's Top Picks: July 21, 2022

Brian Madden, chief investment officer, First Avenue Investment Counsel FOCUS: North American equities MARKET OUTLOOK: Overweight cash, golds, staples, utilities, health care and other recession-resilient businesses. Avoid last cycle‘s leaders - FA...

Source: BNN Bloomberg July 22, 2022

Snap's drop cools stock optimism before Asia open

Asia’s stock markets face a cautious start Friday after a dash of disappointment over technology earnings injected fresh worries about the economic outlook and took some sheen off a US equity rally. Futures rose modestly for Japan and Australia in the wake...

Source: BNN Bloomberg July 22, 2022

TSX recap: Markets fluctuate as energy stocks fall

The S&P/TSX Composite Index closed up slightly Thursday as gains in industrials and real estate offset losses in energy. The Canadian benchmark index finished the day up 42.18 points, to 19,062.85. While the overall index climbed, energy stocks were dow...

Oil & Gas Source: Financialpost July 22, 2022

Who needs a windfall tax? Oil and gas companies poured $48 billion into government coffers this year, says RBC

That could rise to $64 billion in royalties and taxes in 2023 if oil prices stay high Unanticipated revenue from energy royalties and corporate taxes are pouring into government treasuries, offsetting the need for a Canadian version of a “windfall...

Source: BNN Bloomberg July 21, 2022

U.S. stocks regain surer footing in a choppy session

US stocks rose in a volatile session as investors parsed the latest corporate news and the potential for geopolitical risks in Europe. The dollar gained, while the euro fell as Italy’s government looked set to collapse.  The S&P 500 posted its first back-t...

Source: BNN Bloomberg July 21, 2022

Bernstein disagrees with BofA that stocks have seen capitulation

Stock markets are yet to see full capitulation, Sanford C. Bernstein strategists said, taking a contrary view to that of Bank of America Corp., whose survey showed that investors have already thrown in the towel. “We have not yet seen capitulation in outfl...