Daily News

Market Call Source: BNN Bloomberg June 29, 2022

Bruce Murray's Top Picks: June 28, 2022

Bruce Murray, CEO and chief investment officer, The Murray Wealth Group FOCUS: North American growth stocks MARKET OUTLOOK: Markets have collapsed to levels which I believe are attractive with the S&P 500 now selling at P/E of 15.4x with an ROE of...

Source: BNN Bloomberg June 29, 2022

Weakness in energy stocks 'attractive opportunity': Credit Suisse

The recent underperformance in the energy sector has led one analyst to make a bullish call on the industry.    "We see this pullback as an attractive opportunity," Manav Gupta, an analyst at Credit Suisse, wrote to clients in a note on Tuesday.    Over th...

Source: BNN Bloomberg June 29, 2022

Big tech sinks stocks bruised by recession jitters

A rout in big tech weighed heavily on stocks, with gains in the broader market sputtering as a report showed Americans grew more downbeat about prospects for the economy. Traders got another reality check Tuesday after a worrisome reading on consumer confi...

Source: BNN Bloomberg June 29, 2022

Wall Street's great inflation trade is peaking across assets

A tentative victory for a Federal Reserve under constant attack: Inflation bets on Wall Street are cooling from historic highs at long last.  Bond-derived expectations for price growth over the next decade are falling, the value stock boom is reversing and...

Source: BNN Bloomberg June 29, 2022

Scotiabank cuts Air Canada price target on recession modelling

Analysts at Scotiabank cut their 12-month price target for Air Canada amid a delayed economic restart after historic COVID-19 restrictions that could protect Canadian airlines.  Scotiabank Analysts Konark Gupta and Amina Djirdeh reduced the airline's stock...

Source: BNN Bloomberg June 28, 2022

Stocks halt rally with Wall Street's rebalancing

Stocks fell after last week’s powerful rally, with investors rebalancing their portfolios in the final days of the quarter. At the start of a week expected to be marked by fickleness and lack of conviction on a market trough, the S&P 500 had a hard time fi...

Source: BNN Bloomberg June 28, 2022

Morgan Stanley’s big bear sees temporary respite from selloff

One of Wall Street’s most prominent bears sees the current rally in US stocks extending -- prior to the selloff recommencing. Morgan Stanley strategists led by Michael Wilson say the S&P 500 Index may climb another 5 per cent to 7 per cent, before resuming...

Source: BNN Bloomberg June 28, 2022

Coinbase sinks as Goldman downgrades to sell after 75% rout

Goldman Sachs Group Inc. analysts downgraded Coinbase Global Inc. to a sell rating as the crypto winter continues to take its toll on the struggling digital currency exchange. Shares of the firm slumped 11 per cent to US$55.96 on Monday, extending their de...

Source: BNN Bloomberg June 28, 2022

Canadian banks face higher scrutiny as they expand in U.S.

Canadian banks looking to expand in the U.S. through acquisitions are facing increased scrutiny from regulators and politicians along with renewed attention on past disputes. Both TD Bank and BMO are working to close big deals there, TD with a US$13.4 bill...

Source: BNN Bloomberg June 28, 2022

Vermilion rallies amid upgrade on European natural gas exposure

Analysts at Scotiabank have upgraded Vermilion Energy Inc. on the basis that rising European natural gas prices and a declining stock price should set the company up for higher cash flow and a more attractive valuation. Given [Vermilion’s] share price has...