Daily News

Source: BNN Bloomberg July 22, 2022

Snap's drop cools stock optimism before Asia open

Asia’s stock markets face a cautious start Friday after a dash of disappointment over technology earnings injected fresh worries about the economic outlook and took some sheen off a US equity rally. Futures rose modestly for Japan and Australia in the wake...

Source: BNN Bloomberg July 22, 2022

TSX recap: Markets fluctuate as energy stocks fall

The S&P/TSX Composite Index closed up slightly Thursday as gains in industrials and real estate offset losses in energy. The Canadian benchmark index finished the day up 42.18 points, to 19,062.85. While the overall index climbed, energy stocks were dow...

Oil & Gas Source: Financialpost July 22, 2022

Who needs a windfall tax? Oil and gas companies poured $48 billion into government coffers this year, says RBC

That could rise to $64 billion in royalties and taxes in 2023 if oil prices stay high Unanticipated revenue from energy royalties and corporate taxes are pouring into government treasuries, offsetting the need for a Canadian version of a “windfall...

Source: BNN Bloomberg July 21, 2022

U.S. stocks regain surer footing in a choppy session

US stocks rose in a volatile session as investors parsed the latest corporate news and the potential for geopolitical risks in Europe. The dollar gained, while the euro fell as Italy’s government looked set to collapse.  The S&P 500 posted its first back-t...

Source: BNN Bloomberg July 21, 2022

Bernstein disagrees with BofA that stocks have seen capitulation

Stock markets are yet to see full capitulation, Sanford C. Bernstein strategists said, taking a contrary view to that of Bank of America Corp., whose survey showed that investors have already thrown in the towel. “We have not yet seen capitulation in outfl...

Source: BNN Bloomberg July 21, 2022

Bitcoin briefly rises above US$24,000 for first time in a month

Bitcoin is gaining for the third straight day amid a broader rally in risk assets, with the digital currency briefly rising above US$24,000 for the first time in more than a month. The world’s largest digital token rose as much as 3.3 per cent Wednesday to...

Source: BNN Bloomberg July 21, 2022

TSX Recap: Investors react to sky-high inflation; pot stocks climb

Canada’s benchmark stock index climbed higher on Wednesday in the wake of consumer price inflation accelerating to the highest level since January 1983. The S&P/TSX Composite Index rose 82.96 points to close at 19,020.67. Statistics Canada reported the...

Source: BNN Bloomberg July 21, 2022

Citi economists call global recession a present danger

Citigroup Inc. economists have labeled a global recession a “clear and present danger,” while repeating they estimate a 50 per cent probability of such a slump. In a report to clients, economists led by Nathan Sheets said they now expect the world economy...

Market Call Source: BNN Bloomberg July 21, 2022

Darren Sissons' Top Picks: July 20, 2022

Darren Sissons, vice-president and partner, Campbell, Lee & Ross FOCUS: Global and technology stocks MARKET OUTLOOK: Investors should now be evaluating their risk management processes. Earlier in the year, major markets, excluding the oil-heavy TSX...

FP Economy Source: Financialpost July 21, 2022

'Our credibility is being tested:' Tiff Macklem says path to soft landing is narrowing

Supersized rate hike aimed to send 'clear message' that Bank of Canada will get inflation under control Bank of Canada governor Tiff Macklem acknowledged the central bank’s credibility has been shaken as inflation hits multi-decade highs and the in...