Daily News

Source: BNN Bloomberg September 24, 2022

It's every nation for itself as dollar batters global currencies

Nations are being forced to go it alone in erecting defenses against the relentless strength of the almighty greenback, with no sign that governments are willing to act in concert. Fueled by hawkish Federal Reserve policy, US economic strength and investor...

Source: BNN Bloomberg September 24, 2022

S&P/TSX composite closes down 2.75 per cent

Rising fears around future economic growth weighed heavily on markets Friday, pushing Canada's main stock index sharply down along with the commodities that underpin so much of it, while U.S. markets also dropped. The S&P/TSX composite index ended down 521...

Source: BNN Bloomberg September 24, 2022

BofA says cash is king as investor pessimism hits 2008-era high

Investors are flocking to cash and shunning almost every other asset class as they turn the most pessimistic since the global financial crisis, according to Bank of America Corp. strategists. Cash had inflows of US$30.3 billion, while global equity funds s...

Source: BNN Bloomberg September 24, 2022

Goldman slashes S&P 500 target citing higher Fed rates path

Goldman Sachs Group Inc. slashed its year-end target for the S&P 500 Index to 3,600 from 4,300, arguing that a dramatic shift in the outlook for interest rates moving higher will weigh on valuations for US equities. The higher interest-rate scenario in Gol...

Source: BNN Bloomberg September 24, 2022

Union boss accuses Bank of Canada of trying to curb wage demands

A group of unions representing more than 3 million employees said it’s “deeply concerned” that the Bank of Canada is encouraging companies to push down wages amid historic inflation that’s hurting workers. The Canadian Labour Congress, in a toughly worded...

Source: BNN Bloomberg September 23, 2022

Bond yields surge as rate-hiking race sinks U.S. stocks

Treasury yields hit multiyear highs and stocks fell as a parade of central banks joined the Federal Reserve in boosting rates to curb scorching levels of inflation at the expense of economic growth. Ten-year US yields hovered near 3.7 per cent, the highest...

Source: BNN Bloomberg September 23, 2022

TSX today: Composite index falls 0.95%, U.S. stock markets also lower in volatile trading

Canada's main stock index was again under pressure after the latest Federal Reserve rate decision also pushed down U.S. stocks in a volatile trading session. The S&P/TSX Composite Index closed down 181.86 points, or 0.95 per cent, at 19,002.68.  In New...

Market Call Source: BNN Bloomberg September 23, 2022

Paul Gardner's Top Picks: September 22, 2022

Paul Gardner, partner and portfolio manager, Avenue Investment Management FOCUS: REITS, fixed income and dividend stocks MARKET OUTLOOK: 2022 will continue to be challenging. The economic environment is difficult, pivoting between out-of-control in...

Source: BNN Bloomberg September 23, 2022

Investors find a lot to like in Tech, even as a market bottom remains elusive

Even as the Federal Reserve jacks up interest rates and sends technology stocks tumbling, it only gets harder to stay away from the sector.  On the one hand, there’s so much to like: The Nasdaq 100 Index is now 35 per cent cheaper than at its 2020 peak, me...

Source: BNN Bloomberg September 23, 2022

Nasdaq increases scrutiny of small-cap IPOs after big swings

Nasdaq Inc. is stepping up scrutiny of initial public offerings by small-cap companies, according to people familiar with the matter, after a series of outsized gains by new listings that quickly evaporated.  The exchange is looking more closely at prospec...