Sadiq Adatia, CIO of BMO Global Asset Management, joins BNN Bloomberg and talks about how the TSX outlook enters its trading day as it enters near record high.
“We’ve crossed the Rubicon and we’re in for a hard landing,” James Thorne, chief market strategist at Wellington Altus, said in an interview. The wealth management firm has an underweight in Canada and is encouraging investors in domestic equities to be selective, focusing on defensive names and rate-sensitive sectors such as real estate investment trusts. Indeed, real estate stocks are up 20% since the first Bank of Canada rate cut, and financials have been on a tear too, gaining 12%.
National Bank of Canada strategists led by Chief Economist Stefane Marion called rising unemployment levels “a red flag for equities,” saying that analysts are overly optimistic about earnings growth for Canadian companies. The bank recommends adding bonds and trimming equity exposure as it reinforces its defensive stance.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Dow hits record, S&P 500, Nasdaq rise despite fall in Nvidia sharesThe dust is settling after Nvidia's solid but disappointing earnings, as investors reassessed the prospects for techs.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Tumbling bond yields highlight a stock market bargain: Canadian telecomsThe yields on Canadian telecom stocks, while off their recent peaks as share prices have rebounded modestly this year, remain curiously high despite rate cuts
Source: globeandmail - 🏆 5. / 92 Read more »
Stock market today: US stock futures tread water in wait for Fed's rate callInvestors are bracing for a crucial week dominated by the Fed's first interest-rate cut in four years.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Dow, Nasdaq seesaw amid more soft jobs market dataLabor data is in focus as the prospect of rate cuts fails to offset growing doubts about the health of the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street rises as market focus turns from Nvidia to the US economyNEW YORK (AP) — Stocks rose on Wall Street Thursday as markets shift their focus back to the U.S. economy. The S&P 500 rose 0.8% in morning trading and is less than 1% away from its record set in July.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street opens higher as market focus turns from Nvidia to US economyNEW YORK (AP) — Wall Street is opening with gains as markets shift their focus back to the U.S. economy. The S&P 500 rose 0.4% in early trading Thursday, while the Dow Jones Industrial Average added 148 points, or 0.4% and the Nasdaq rose 0.8%.
Source: SooToday - 🏆 8. / 85 Read more »