Daily News

Source: Financialpost May 25, 2024

How Wealthsimple is trying to beat the big banks at their own mortgage game

Rob McLister: I’ve seen mortgage cashback gimmicks in the past, but this one is more interestingHow would you like to get two-thirds of the interest back on your mortgage? We apologize, but this video has failed to load. Try refreshing your browser, o...

Economy Source: Financialpost May 25, 2024

Canada's retail sales jump 0.7% in April after weak first quarter

Auto and parts sales led the gainsCanadian consumer spending sharply rebounded last month, according to preliminary data, after weaker-than-expected retail sales in the first quarter. We apologize, but this video has failed to load. Try refreshing you...

Economy Source: Financialpost May 25, 2024

Canada is probably already in recession, says David Rosenberg

Top economist says Canadian economy is — in one word — weakEconomist David Rosenberg, founder and president of Rosenberg Research, talks with Financial Post’s Larysa Harapyn about the state of the Canadian economy and how the Bank of Canada should cut intere...

Source: BNN Bloomberg May 24, 2024

Nvidia stock surges as sales forecast delivers on AI hopes

Shares of Nvidia Corp., the chipmaker at the center of an artificial intelligence boom, surged on Thursday after a bullish sales forecast showed that AI computing spending remains strong. Second-quarter revenue will be about US$28 billion, the company said...

Source: BNN Bloomberg May 24, 2024

China exposure tumbles to 5% at Canada Pension as geopolitical risks rise

Canada Pension Plan Investment Board’s exposure to investments in yuan has fallen by half in just two years, as the money manager pulls back in the world’s second-largest economy because of higher risks.  Canada’s biggest pension fund held five per cent of...

Source: BNN Bloomberg May 24, 2024

Markets today: stocks join bonds in falling as Fed-cut bets wane

Stocks and bonds retreated as data showing U.S. business activity accelerated amid a pickup in inflation reinforced speculation the U.S. Federal Reserve will remain on hold. The S&P 500 dropped below 5,300, with all megacaps down except Nvidia Corp. The gi...

Source: BNN Bloomberg May 24, 2024

Billionaire Tanenbaum seizes WNBA deal his partners turned down

The WNBA awarded Toronto its first-ever franchise outside the US, linking up with a sports and real estate billionaire as the flourishing league pushes to build an audience in Canada and abroad.  Kilmer Sports Ventures, a firm controlled by Canadian mogul...

Source: BNN Bloomberg May 24, 2024

S&P/TSX Composite down almost 150 points, U.S. stock markets fall

Canada's main stock index lost almost 150 points Thursday, led by weakness in utilities and base metals, while U.S. stock markets also fell.  The S&P/TSX Composite Index closed down 145.97 points at 22,200.79. In New York, the Dow Jones industrial avera...

Market Call Source: BNN Bloomberg May 24, 2024

Eric Nuttall's Top Picks: May 23, 2024

Eric Nuttall, partner and senior portfolio manager, Ninepoint Partners FOCUS: Energy stocks MARKET OUTLOOK: Energy remains in a multi-year bull market with strong (enough) underlying demand growth and limitations to supply growth, be they voluntary...

Source: BNN Bloomberg May 24, 2024

Gildan's board resigns en masse as activist investor triumphs

Gildan Activewear Inc.’s entire board of directors and Chief Executive Officer Vince Tyra resigned on Thursday, marking a dramatic victory for activist shareholder Browning West LP.  The mass resignation means Los Angeles-based Browning West will take cont...