Daily News

Source: Financialpost June 09, 2024

Bank of Canada's divergence from U.S. Federal Reserve puts loonie in spotlight

Falling Canadian dollar could stoke inflation, but central bank says those concerns are a long way off Get the latest from Barbara Shecter straight to your inbox Sign Up The Bank of Canada trimmed its policy interest rate by 0.25 per cent this week, b...

Source: BNN Bloomberg June 08, 2024

GameStop slumps on share sale plan hours before Gill stream

GameStop Corp. shares fell after the retailer unexpectedly released earnings and a plan to sell up to 75 million additional shares hours before Keith Gill’s highly anticipated return to YouTube drew in speculators. The stock sank as much as 22 per cent to...

Source: BNN Bloomberg June 08, 2024

Markets today: Treasury yields surge as jobs spark rethink on U.S. Fed

The world’s biggest bond market got hammered as a solid U.S. jobs report made traders dial back their bets on Federal Reserve rate cuts. A selloff in Treasuries drove yields up over 10 basis points, with swaps no longer pricing in a Fed reduction before De...

Source: BNN Bloomberg June 08, 2024

Walmart expects profits in its U.S. e-commerce business within two years

Walmart Inc. said it expects to generate profits in its U.S. e-commerce business within the next two years.  The Bentonville, Arkansas-based retailer is working toward e-commerce profitability in a year or two, including its advertising and consumer data b...

Source: BNN Bloomberg June 08, 2024

The Week Ahead; FOMC Meeting, G7 summit

  Monday, June 10 Earnings: Enghouse Systems, Autodesk Tuesday, June 11 8:30 a.m. Canada Building Permits (April) U.S. FOMC Meeting begins  Earnings: Oracle Corp. Wednesday, June 12 2:00 p.m. U.S. FOMC Announcement and Summa...

Company News Source: BNN Bloomberg June 08, 2024

Waystar prices IPO at midpoint to raise US$968 million

Health-care payments software maker Waystar Holding Corp. priced its initial public offering at the midpoint of a marketed range to raise US$968 million in one of 2024’s biggest listings. Waystar, whose backers include EQT AB and Canada Pension Plan Invest...

Market Call Source: BNN Bloomberg June 08, 2024

Barry Schwartz's Top Picks: June 7, 2024

Barry Schwartz, chief investment officer and portfolio manager, Baskin Wealth Management FOCUS: North American large-cap stocks  MARKET OUTLOOK: Synchronized global rate cuts have begun with Canada and the European Central Bank (ECB) reducing rates t...

Source: BNN Bloomberg June 08, 2024

S&P/TSX Composite Index down more than 200 points Friday, U.S. markets retreat

Canada's main stock index fell one per cent Friday, led by industrials, utilities and base metals, while U.S. markets retreated as both countries released new information about their job markets. The S&P/TSX composite index closed down 222.10 points at 22,...

Source: Financialpost June 08, 2024

Canada's unemployment rate rises to 6.2% as more workers forced to go part time

All the job gains were part-time, while full-time jobs fell Get the latest from Naimul Karim straight to your inbox Sign Up Canada’s unemployment rate ticked up to 6.2 per cent in May despite adding 27,000 jobs, as economists continue to wager on whet...

Source: Financialpost June 08, 2024

Long-range EVs now cost less than the average new car in the U.S.

Competition has taken on a Squid Game vibe, as pressure rises to make EVs affordable and attract buyersThe automotive industry has entered a fiercely competitive phase in the electric vehicle transition, and it’s producing an intriguing result for U.S. car b...