Daily News

Source: BNN Bloomberg June 29, 2024

The list of money managers axing oil stocks just got longer

There’s a growing list of institutional investors in Europe who are stripping oil and gas stocks out of their portfolios, in a move they say reduces the risk of ending up with stranded assets and financial losses. The latest to do so is PFA, Denmark’s larg...

Source: BNN Bloomberg June 29, 2024

JPMorgan's Kolanovic warns S&P 500 will plummet 23% by year-end

The S&P 500 Index may be headed for another record closing high, but JPMorgan Chase & Co.’s Marko Kolanovic says the benchmark will falter in coming months in the face of mounting headwinds, from a slowing U.S. economy to downward earnings revisions.  The...

Source: BNN Bloomberg June 29, 2024

Economic cracks are getting exposed in the 2024 market bounty

Fresh meme-stock mania took center stage on Wall Street this week just as the world’s biggest equity market closed out another blistering quarter.  Yet behind the scenes, softening economic growth is testing bullish investor convictions, while fueling big...

Source: Financialpost June 29, 2024

David Rosenberg: Bank of Canada has nothing to fret about despite CPI hysteria

The story beneath the surface still remains one of acute disinflationThe bond bulls and Bank of Canada policy doves were on the receiving end of a splash of water this past week. The consumer price index doubled consensus expectations in May, coming in at 0....

Source: Financialpost June 29, 2024

Posthaste: Plummeting job vacancies another sign Canada’s economy is under the gun

Fall 28% from last year back to pre-COVID levels We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Plummeting job vacancies another sign Canada’s economy is under the...

Source: Financialpost June 29, 2024

FP Answers: What's the best way to draw down our assets in retirement if we don’t want to leave a large inheritance?

Couple has more than enough for a great retirement — the big question is what do they want to do with the moneyReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made th...

Economy Source: Financialpost June 29, 2024

Canada's economy grows 0.3% as manufacturing, trade pick up

Statistics Canada predicts slower growth in MayCanada’s economy grew by 0.3 per cent in April, mainly driven by mining, wholesale trade, the oil and gas industry and manufacturing, Statistics Canada said Friday. We apologize, but this video has failed to...

Source: BNN Bloomberg June 28, 2024

Cost cutting continues at BlackBerry as firm reports US$42-million net loss in Q1

BlackBerry Ltd.'s chief executive says the company's preparations to divide up its business have so far produced millions in savings and put the business on a path to profitability. John Giamatteo told analysts Wednesday that the Waterloo, Ont.-based tech...

Source: BNN Bloomberg June 28, 2024

Markets today: Treasuries climb as data embolden bets on soft PCE

The world’s largest bond market rose after the latest batch of economic reports reinforced speculation the Federal Reserve will be able to cut interest rates this year to prevent a bigger U.S. slowdown. Traders gearing up for the Fed’s favoured inflation g...

Source: BNN Bloomberg June 28, 2024

B.C. Investment Management earned 7.5% annual combined pension plan return

British Columbia Investment Management Corp. says it earned an annual combined pension plan return of 7.5 per cent for its latest year. However, the result fell short of BCI's benchmark which was boosted by the strength of the largest tech stocks and poste...