Powell ponders rate cut amid cooler inflation and steady rates
Federal Reserve Chair Jerome Powell signaled the possibility of a rate cut later this year as inflation cools and the job market softens, though the target rate remains at 5.3 percent. He warned the timing depends on future data while markets price in a September move. The Fed noted job gains have moderated and unemployment rose, balancing inflation and employment goals.
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Washington
Federal Reserve
Jerome Powell
Central Bank
Fed
Powell
Kamala Harris
Donald Trump
Congress
Mark Zandi
Moody’s Analytics
Treasury
S&p
Slight GDP gain in Canada May 0.2 percent growth
Statistics Canada reports Canada’s economy grew 0.2 percent in May led by manufacturing and public sector expansion while retail wholesale trade and oil and gas weighed on growth. The Trans Mountain pipeline expansion boosted oil transport with the first tankers leaving Vancouver in late May. June growth eased to 0.1 percent with gains in construction real estate and finance offset by declines in manufacturing and wholesale trade. The bank may pursue rate cuts as growth remains tepid. For Q2 real GDP is seen at a 2.2 percent annualized rate.
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Ottawa
Statistics Canada
Vancouver
Bank of Canada
Energy rally boosts TSX as US tech leads gains
Canada’s main index rose 286.14 points to 23,110.81 led by energy stocks and base metals while US tech firms boosted Wall Street. Nvidia jumped near 18 percent after a strong AMD report and Microsoft’s earnings aided semiconductors. Oil rose over 4 percent with geopolitical tensions and supply concerns underpinning crude prices.
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Toronto
Canada
U.S
U.S. Federal Reserve
S&p
Tech
Brian Madden
First Avenue Investment Counsel
Madden
Bank of Canada
TSX
Middle East
Hamas
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THE
Associated Press
Federal Reserve Board
Nojoad
Mallees
Nvidia
Advanced Micro Devices
Microsoft
Trevor Bonot
Thunder Bay
Trevor.bonot
Nbc
National Bank Financial Wealth Management
NBFWM
National Bank Financial Inc
NBF
National Bank of Canada
Canadian Investment Regulatory Organization
CIRO
Canadian Investor Protection Fund
CIPF
Toronto Stock Exchange
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