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Economy Source: Financialpost July 08, 2023

One more Bank of Canada rate hike and then a 'pause for the rest of the year': What economists say about huge job gains

But there are signs of loosening in the labour market Canada’s job gains blew the roof off expectations again but economists say there are signs of loosening in the labour market. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe...

Source: BNN Bloomberg July 07, 2023

The Canadian stock market is 'dirt cheap' right now: David Rosenberg

Investors looking to put their money to work in a heightened interest rate environment could find opportunities in the Canadian equity market, bonds, and cash, one Bay Street veteran advised.    In an interview with BNN Bloomberg’s Jon Erlichman on Thursday,...

Market Call Source: BNN Bloomberg July 07, 2023

Andrew Pink's Top Picks: July 6, 2023

MARKET OUTLOOK: We expect equity markets to remain volatile. There will be sector rotation and narrow markets until the U.S. Federal Reserve sees a path to its target inflation rate and stops increasing interest rates. When rates plateau and certainty is r...

Source: BNN Bloomberg July 07, 2023

U.S. stocks stumble as traders turn to payroll data

U.S. stocks fell for a second day in a row amid a spike in Treasury yields after surprisingly strong private hiring data. Traders are preparing for Friday payroll numbers to gauge the Federal Reserve’s next move. The S&P 500 and Nasdaq 100 benchmarks both...

Source: BNN Bloomberg July 07, 2023

TSX recap: Index finishes 1.46% lower on broad-based losses

Canada's main stock index was down almost 300 points in a broad-based decline, while U.S. stock markets also fell. The S&P/TSX Composite Index was down 293.20 points, or 1.46 per cent, at 19,810.69. In New York, the Dow Jones Industrial Average was down...

Source: Financialpost July 07, 2023

Iran tried to seize 2 oil tankers near Strait of Hormuz and fired shots at one of them: U.S. Navy

Area critical to transport of 20 per cent of world's crude oil DUBAI, United Arab Emirates — Iran tried to seize two oil tankers near the strategic Strait of Hormuz early July 5, firing shots at one of them, the U.S. Navy said. THIS CON...

Source: Financialpost July 07, 2023

North America's biggest biochar plant takes shape in Canada

Project will sequester 75,000 tons of carbon per year and generate certified carbon credits A group of Canadian and French companies will build a $80 million plant in Quebec to turn forestry waste into biochar, a black substance which can store...

Source: Financialpost July 07, 2023

Posthaste: Bank of Canada rate hike 'at best unnecessary — at worst a mistake,' says CIBC

Policymakers are misreading the tea leaves on impact of interest rate hikes so far, says economist We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team....

Source: Financialpost July 07, 2023

William Watson: An excess profits tax? OK, Mr. Singh, but how about an excess wages tax, too?

If businesses or unions are “gouging,” competitors will punish them NDP Leader Jagmeet Singh says Canada needs an excess profits tax to help reduce inflation. His argument seems to be that if you let grocery chains and others know they won’t pr...

Economy Source: Financialpost July 07, 2023

Canada unexpectedly posts largest trade deficit since 2020

Data suggest exports may no longer be bright spot in the economy Canada’s merchandise trade balance unexpectedly recorded its largest deficit since October 2020, in large part due to lower energy prices. THIS CONTENT IS RESERVED FOR SUB...