Daily News

Source: BNN Bloomberg August 17, 2022

TSX recap: Index gains as financial stocks offset energy losses

Canada's benchmark stock index finished the Tuesday trading session in the green as gains in the financial, materials and industrial subsectors offset weakness in energy stocks. The S&P/TSX Composite Index closed 89.37 points higher, or 0.44 per cent, to 2...

Source: BNN Bloomberg August 17, 2022

Foreign investors dump the most Canadian stocks since 2007

Foreign investors pulled the most money out of Canadian stocks in 15 years amid fears that recession would hit an equity market that’s highly sensitive to changes in the economic cycles.  They reduced their exposure by $12.6 billion (US$9.8 billion) in Jun...

Executive Summary Source: Financialpost August 17, 2022

Posthaste: Canada's recession odds are now down to a 'coin flip'

Chances of a recession stand at 50%, but Conference Board says it's forecasting a soft landing Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through l...

FP Economy Source: Financialpost August 17, 2022

Has inflation peaked? Breaking down Canada's July CPI numbers

Watch: Here's what you need to know about the latest CPI reading Statistics Canada’s consumer price index came in at 7.6 per cent in July from the same time last year, compared to 8.1 per cent in June. The Financial Post’s Stephanie Hughes breaks d...

Source: BNN Bloomberg August 16, 2022

U.S. stocks defy data woes to close near day's high

US stocks rose for a second day in a row, with megacaps catching bids as investors digested weak data on New York manufacturing and the Chinese economy. Treasuries gained with the dollar, while commodities from oil to iron ore tumbled. The S&P 500 closed n...

Source: BNN Bloomberg August 16, 2022

TSX today: Broad-based gains narrowly offset losses in energy and materials

Canada's benchmark stock index closed in positive territory Monday as falling crude oil prices weighed on the energy sector. At 4:05 p.m. EDT, the S&P/TSX Composite Index gained 0.79 points, to 20,180.60. The TSX energy and materials subgroups were the...

Market Call Source: BNN Bloomberg August 16, 2022

Mike Philbrick's Top Picks: August 15, 2022

Mike Philbrick, chief executive officer, Resolve Asset Management FOCUS: Exchange-traded funds MARKET OUTLOOK: Inflation Shock to Growth Shock Continues Recessionary concerns intensified in the wake of weak second-quarter GDP figures for the U.S...

Source: BNN Bloomberg August 16, 2022

Michael Burry's hedge fund added one stock and dumped all the rest

Michael Burry’s Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one.  The hedge fund exited positions including Alphabet Inc. and Facebook parent Meta Platforms Inc., while adding private-prison operato...

Source: BNN Bloomberg August 16, 2022

JPMorgan says the stock rally has legs. Morgan Stanley disagrees

Top Wall Street strategists are divided on whether the US stock market is poised to extend its longest winning streak of the year -- or slip back after another false dawn.  Morgan Stanley strategists said in a note Monday that the sharp rally since June is...

Canada Source: BNN Bloomberg August 16, 2022

Ontario Teachers' Pension Plan earned 1.2 per cent in first six months of 2022

Ontario Teachers' Pension Plan Board says it earned a total-fund net return of 1.2 per cent for the first half of this year. Ontario Teachers' chief executive Jo Taylor says the result for the six-month period came during a tumultuous time for global marke...