Daily News

Source: Financialpost May 27, 2024

Another hold on interest rates risks further damage to the economy

David Rosenberg expects a rate cut at the central bank’s next announcement in JuneWith Canada’s latest inflation figures paving the way for a policy rate cut, some economists worry another hold by the Bank of Canada could further damage the economy. W...

Source: Financialpost May 26, 2024

How much the Bank of Canada will cut interest rates in 2024

Watch Dawn Desjardins of Deloitte Canada on what the latest inflation data means to the Bank of Canada and interest ratesDawn Desjardins, senior economist at Deloitte Canada, talks with Financial Post’s Larysa Harapyn about what the latest inflation data mea...

Source: BNN Bloomberg May 25, 2024

Gildan's board resigns en masse, handing victory to activist Browning West

Gildan Activewear Inc.’s entire board of directors and Chief Executive Officer Vince Tyra quit on Thursday, conceding defeat after a bruising five-month battle with an activist shareholder over the future of the Canadian clothing maker. The mass resignatio...

Source: BNN Bloomberg May 25, 2024

U.S. paves way for Ether ETFs in test of crypto demand beyond Bitcoin

The crypto industry is closer to another landmark after the U.S. Securities and Exchange Commission paved the way for the eventual launch of the first U.S. exchange-traded funds investing directly in the Ether token. In a step deemed unlikely as recently a...

Economics Source: BNN Bloomberg May 25, 2024

Foreign investment in China drops for fourth month in April

Foreign investment into China slowed for a fourth straight month in April, underscoring Beijing’s struggle to attract more overseas funds to boost its flagging economic growth. New actually utilized foreign investment into China was 58.5 billion yuan (US$8...

Market Call Source: BNN Bloomberg May 25, 2024

Ryan Bushell's Top Picks: May 24, 2024

Ryan Bushell, president and portfolio manager, Newhaven Asset Management FOCUS: Canadian dividend stocks MARKET OUTLOOK: Newhaven portfolios are now outperforming the S&P/TSX Composite Index on the year as the narrative surrounding power demand gro...

Source: BNN Bloomberg May 25, 2024

Lululemon hits bottom of S&P 500 as concern over outlook builds

A bleak start to the year for Lululemon Athletica Inc. worsened this week after the departure of a key executive exacerbated Wall Street’s concerns around the outlook for the activewear company just ahead of its earnings report.  Shares slumped 9.5 per cen...

Source: BNN Bloomberg May 25, 2024

GameStop jumps after raising nearly US$1 billion in stock sale

GameStop Corp. shares rallied in late trading after the retail trader favorite announced it brought in nearly US$1 billion from a share sale program. The video-game retailer capitalized on a flurry of trading earlier this month by selling 45 million shares...

Source: BNN Bloomberg May 25, 2024

Markets today: U.S. stocks rise on hopes inflation pressures will ease

Stocks rose after data showed American consumers tempered inflation expectations, bolstering sentiment regarding prospects for Federal Reserve rate-cuts this year. The S&P 500 rebounded after a two-day slide. When traders come back from the holiday weekend...

Source: BNN Bloomberg May 25, 2024

The Week Ahead: Canadian bank earnings; U.S. GDP data due

Monday, May 27 U.S. markets closed for holiday Earnings: CAE Inc. Tuesday, May 28 8:30 a.m. Canada Industrial Product and Raw Materials Price Indices (April) Gildan Activewear annual meeting, incl. shareholder votes Earnings: Bank of No...