FILE PHOTO: Media tour at the assembly line factory of Zoox, a self-driving vehicle owned by Amazon, in Fremont
The Federal Reserve has maintained its benchmark overnight interest rate in the current 5.25%-5.50% range since last July. Financial markets expect the U.S. central bank to start its easing cycle in September, though policymakers recently adopted a more hawkish outlook. The Fed has hiked its policy rate by 525 basis points since 2022 to quell inflation.
Orders for durable goods, items ranging from toasters to aircraft meant to last three years or more, edged up 0.1% in May after a downwardly revised 0.2% gain in April.Durable goods orders were previously reported to have advanced 0.6% in April. Transportation orders rose 0.6%, reflecting a 0.7% increase in motor vehicle orders.
There were decreases in orders for machinery, primary metals as well as electrical equipment, appliances and components. Orders for computers and electronic products nudged up 0.1%.This dividend stock is sure to benefit from ongoing cuts in the key interest rate and is already seeing some major opportunities ahead. The post 1 Dividend Stock to Buy if the Bank of Canada Keeps Cutting Rates appeared first on The Motley Fool Canada.
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May sales up 5.7% in May amid 'somewhat concerning' data, says DesRosierspNumbers in the background of Canadian new-vehicle sales are sending mixed messages about the health of the industry./p
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