Daily News

Source: Bankofcanada June 07, 2023

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is also continuing its policy of quantitative tightening. Gl...

Source: Financialpost June 07, 2023

More Bank of Canada rate hikes could 'spell trouble' as more people struggle with finances

Canadians are under financial stress and don't feel good about direction of economy, polls say More rate hikes by the Bank of Canada could “spell trouble” for a growing number of Canadians facing financial headwinds, Angus Reid Institute said i...

Source: Financialpost June 07, 2023

Why WestJet may be forced to chart a new path for Swoop in wake of deal with pilots

Integration of two airlines could be the end of the ultra low-cost model, say experts When WestJet Group launched Swoop in 2018, it said the ultra-low-cost airline would operate independently, with its own fleet of aircraft, management team and...

Source: Financialpost June 07, 2023

Posthaste: More borrowers struggle as IMF warns Canada at highest risk of mortgage defaults

More Canadians are missing payments on their debts We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: More borrowers struggle as IMF w...

Source: Financialpost June 07, 2023

William Watson: Quebec’s new honour system for French won’t last 3 weeks

Quebec is trying to restrict access to its English web pages to 'historic anglophones' — good luck with that! Where is Mordecai Richler when you need him? The novelist, satirist, humorist and National Post columnist died in 2001, in a great los...

Source: BNN Bloomberg June 06, 2023

S&P 500 set to enter bull market

The S&P 500 Index is heading toward a bull-market milestone after stocks rallied back from last year’s lows on optimism the Federal Reserve is nearing the finish line of its interest-rate hikes.   The S&P 500 rose 0.3 per cent on Monday, widening its advan...

Market Call Source: BNN Bloomberg June 06, 2023

Hap Sneddon's Top Picks: June 5, 2023

Hap Sneddon, president and chief portfolio manager, Castlemoore FOCUS: Technical analysis  MARKET OUTLOOK: Recent buying has shown investors have a commitment to the theme that the inflationary bear market of the last couple of years is over. At pr...

Source: BNN Bloomberg June 06, 2023

U.S. stocks drift as tech rally halts, oil pares gains

Equities dropped to session lows in subdued trading as Apple Inc. erased earlier gains in anticipation of a new mixed-reality headset. The S&P 500 edged lower as both tech and energy stocks pared advances, which had briefly pushed the benchmark index 20 pe...

Source: BNN Bloomberg June 06, 2023

U.S. stocks rise as tech rally resumes; oil pares gain

Tech stocks drove the S&P 500 higher for a third day, pushing the benchmark index 20 per cent above an October low, on track for a bull market. The S&P 500 gained 0.3 per cent, with Apple Inc. up 1.96 per cent in anticipation for a mixed-reality headset la...

Company News Source: BNN Bloomberg June 06, 2023

Brookfield targets US$15B for real estate fund despite woes

Brookfield Asset Management Ltd. is aiming to raise US$15 billion for its fifth flagship real estate fund, less than its previous version, according to people familiar with the matter, as the global property market is roiled by rising borrowing costs. Broo...