2026-04-17
[Bnn Bloomberg Canada]: Stocks rally on Mideast peace optimism: North American stocks are set to open higher again, and the price of oil is falling back, after U.S. President Donald Trump said a deal with Iran may be nearing, with a ceasefire between Israel and Hezbollah boosting hopes for broader peace. Trump says Iran has made new concessions and suggested a renewed truce may not be necessary, though officials say a full agreement could still take months. U.S. stock indices have surged to record highs this week, with the TSX about 400 points from its peak.
Canada presses for wider U.S. trade agreement: Canada-U.S. Trade Minister Dominic Leblanc says Ottawa wants to resolve trade frictions with the Trump administration as part of a comprehensive agreement, rather than through “one-off” deals. Speaking at the House of Commons Standing Committee on International Trade, Leblanc noted the issues U.S. officials raise privately are the same ones they’ve outlined publicly. A recent report by the U.S. Trade Representative’s office flagged Canada’s dairy system, amongst other long-standing trade concerns.
Netflix under pressure: Netflix shares were tanking in the premarket after the company issued a weaker-than-expected outlook and announced co-founder Reed Hastings will step down from the board. Netflix forecast second quarter profit below expectations, and projected revenue that also missed estimates. The company says it plans to boost spending on content and expand sports programming, even as leadership emphasized discipline following its failed bid for Warner Bros Discovery.
West Fraser taking charge on U.S. duties: West Fraser Timber says it expects to record a $73 million non-cash charge in Q1 due to preliminary softwood lumber duty rates. The anti-dumping and countervailing duties issued by the U.S. Department of Commerce are expected to be finalized and come into effect later this year. West Fraser is set to release its full quarterly results next week.
Feds to hold investment summit: The federal government has announced plans to hold the first-ever Canada Investment Summit this September in Toronto. The summit will convene the world’s largest investors, including top CEOs, entrepreneurs, and prominent global business leaders. The summit is focused on attracting new investment into Canada to advance nation-building projects, create new career opportunities for Canadians, and grow the economy. The summit will be hosted by the federal government in partnership with the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board.
-----------------
2026-04-16
[Bnn Bloomberg Canada]: Despite war, stocks hit record highs: Despite the war in the Middle East, and the resulting impacts on energy prices and the global economy, stocks continue to move higher. Yesterday the main U.S. index, the S&P 500, closed at a record high, while the TSX composite is less than 400 points from its peak. Stock markets have rebounded as signs of easing tensions in the Middle East combined with a fresh burst of AI optimism and corporate earnings pushed investors to abandon their cautious views. Still, delegates at the International Monetary Fund and World Bank meetings in Washington have cautioned that markets are underestimating the war’s economic damage.
Canadian real estate still sluggish: Canadian home prices fell for a sixteenth straight month as rising mortgage rates kept buyers on the sidelines. Data from the Canadian Real Estate Association (CREA) shows the benchmark price slipped 0.4 per cent in March, the lowest level since 2021. Higher oil prices tied to the Middle East conflict pushed mortgage rates higher, adding pressure during what’s typically the spring buying season. Meanwhile CREA has cut its 2026 housing outlook. The association is now forecasting 474,972 home sales this year, which would be one per cent higher than 2025. In a January forecast, CREA predicted sales would climb 5.1 per cent in 2026.
No comments:
Post a Comment