The Daily

April 14, 2022 Daily Market Commentary Canadian Headlines Hours after delivering the biggest interest-rate hike in 22 years in Canada, Tiff Macklem had a message for investors: There’s no reason to worry about inflation getting out of hand. While there is plenty of uncertainty in the global economy, the Bank of Canada governor told Bloomberg News he’s quite certain that [...]

April 12, 2022 Daily Market Commentary Canadian Headlines Canadian stocks fell as real estate slumped and energy stocks dropped the most in one month. The S&P/TSX Composite slid 0.4% to 21,790.49 in Toronto. The move follows the previous session’s increase of 0.2%. Brookfield Asset Management Inc. contributed the most to the index decline, decreasing 2.3%. [...]

April 6, 2022 Daily Market Commentary Canadian Headlines West Fraser Timber said it will permanently reduce capacity at its pulp mill in Hinton, Alberta by the end of this year. The capacity reduction will see staffing levels transition to 270 positions from 345. Sees impairment charge of about $13 million in 1Q associated with the [...]

April 4, 2022 Daily Market Commentary Canadian Headlines Shopify’s 50% Slump Proves That It’s No Amazon. “They are two different businesses,” said David Trainer, chief executive officer and founder of research firm New Constructs. “Even with the recent stock price decline, shares remain priced for Shopify to be bigger than Amazon. Shopify remains significantly overvalued.” Trainer [...]

March 31, 2022 Daily Market Commentary Canadian Headlines Air Canada said it’s poised to recover most of its pre-pandemic capacity this year, issuing a bright outlook for travel as the nation relaxes restrictions and Canadians try to move on from the gloom of the Covid-19 pandemic. The carrier expects to recover 75% of the total seats offered [...]

March 30, 2022 Daily Market Commentary Canadian Headlines Lululemon Athletica Inc. shares rise 7.6% in premarket provided a 1Q profit and net revenue forecast that topped estimates. The board approved a new stock buyback for up to $1 billion of common shares. The analysts recognize Lululemon strong momentum, brand power, and guidance above Street’s expectation, with at least [...]

March 28, 2022 Daily Market Commentary Canadian Headlines Canadian consumer sentiment tumbled to its lowest level in more than a year as Russia’s invasion of Ukraine and surging inflation cloud the economic outlook, weekly polling data suggest. The Bloomberg Nanos Canadian Confidence Index, a measure of sentiment based on weekly polling, fell to 56.3 last week, the [...]

March 24, 2022 Daily Market Commentary Canadian Headlines Canadian stocks broke its four-day winning streak of setting consecutive record highs, slumping as companies in the technology and financials sectors sunk. The S&P/TSX Composite fell 0.6% at 21,932.18 in Toronto. The move was the biggest since falling 1.3% on March 14 and follows the previous session’s increase of [...]

March 23, 2022 Daily Market Commentary Canadian Headlines Canadian stocks closed at a record high for the fourth consecutive session as technology and financials stocks pulled the index higher even as energy and materials sunk. The S&P/TSX Composite rose for the sixth day, climbing 0.3%, or 65.22 to 22,074.35 in Toronto. Shopify Inc. contributed the [...]

March 21, 2022 Daily Market Commentary Canadian Headlines A work stoppage at one of Canada’s two largest railways must end quickly, given increased pressure on already strained supply chains, Labor Minister Seamus O’Regan said. But O’Regan said he’s still hoping for a negotiated solution between Canadian Pacific Railway Ltd. and the Teamsters Canada Rail Conference, rather than legislation that [...]