Canada’s annual inflation rate rose slightly to 2.9 per cent last month, driven largely by higher gas prices. In Business Matters for Tuesday, April 16, Anne Gaviola has more on why the cost of living accelerated in Statistics Canada’s latest inflation snapshot.
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Shopify stock was climbing Monday after an analyst upgraded shares of the e-commerce platform on confidence in growth. Citi analyst Tyler Radke upgraded shares of Shopify to Buy from Neutral, and increased his target price to $105 from $93, which implies a 47% increase in the stock price as of Friday’s close. “Our Deep-Dive analysis into SHOP’s Merchant Solutions business gives us confidence in SHOP’s long-term growth,” Radke wrote in a research note.
There are five major events to watch for this week, highlighted by a Fed meeting and the April jobs report.
"We expect, in any case, that the Fed's communications after the FOMC meeting this week will have a uniformly hawkish tone," Macquarie said.
Artificial intelligence stocks have been on a roll for the past few months, mostly driving the market rally. Nvidia delivered record-breaking earnings on Feb. 21, with revenue rising to a staggering...
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The Canadian dollar edged up to a near three-week high against its U.S. counterpart on Monday as risk sentiment improved and ahead of monthly GDP data this week that could offer clues on the strength of the domestic economy. The loonie was trading 0.1% higher at 1.3656 to the U.S. dollar, or 73.23 U.S. cents, after earlier touching its strongest level since April 10 at 1.3632. "It has been a somewhat quiet start to the week, with firmer equity and bond markets underpinning risk sentiment and weighing on the USD more broadly," said George Davis, chief technical strategist at RBC Capital Markets.
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OTTAWA (Reuters) -Canada's economy likely weakened in the first quarter, data from Statistics Canada showed on Tuesday, bolstering expectations that the Canadian central bank would have more reason to cut interest rates in June. Canada's gross domestic product (GDP) rose 0.2% in February, less than analysts' estimates, while growth in March likely remained muted, Statistics Canada said. The economic slowdown combined with cooling inflation could add to the evidence the Bank of Canada (BoC) is looking for to start lowering its key interest rate from nearly a 23-year high of 5%.
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OTTAWA — The Canadian economy lost momentum after a roaring start to the year, reinforcing economists' expectations that the Bank of Canada is on track to cut interest rates in the coming months. Statistics Canada reported Tuesday that real gross domestic product rose 0.2 per cent in February. That followed a 0.5 per cent gain in January. "Today’s GDP report confirmed our expectations that the January surge in output was temporary, and in no way marked an inflection point for the growth backdrop
NEW YORK (AP) — U.S. stocks are falling Tuesday after the latest hotter-than-forecast reading on the economy raised more worries about inflation and interest rates staying high. The S&P 500 was 0.7% lower in midday trading and on track to close out its first losing month in the last six. It's lost momentum since setting records through the early part of the year, and April is on pace to be its worst month since September. The Dow Jones Industrial Average was down 313 points, or 0.8%, as of 11:15
WASHINGTON (AP) — Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She's planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year to neolithic sites in Great Britain. “I really have more money to spend now than when I was working,” said Harris, 64, an engineer who worked 29 years for the federal government an
TORONTO — The majority of Canadians aspiring to buy a home say they will push their plans to next year or later to wait for interest rates to drop, a new survey shows. Bank of Montreal says 72 per cent of respondents hoping to buy a home will wait until borrowing costs fall — an increase of four per cent compared with last year. The Bank of Canada is widely expected to begin cutting its key lending rate in the second half of the year. BMO Capital Markets senior economist Robert Kavcic said this
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