BMO chief says US economy improving, calls California 'a strategically important market'

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Darryl White,California,Market Capitalization

The U.S. economy was showing signs of stronger than expected growth, with California being a strategically important market, said the head of Bank of...

FILE PHOTO: The logo of the Bank of Montreal is seen on their flagship location on Bay Street in TorontoTORONTO - The U.S. economy was showing signs of stronger than expected growth, with California being a strategically important market, said the head of Bank of Montreal, which has rapidly expanded in its southern neighbour.

He said that trade and investment between Canada and the U.S. is key to economic competitiveness noting that it is one of the largest bilateral trade relationships in the world."The relationship is significant. Put into context, just counting the Great Lakes region… would be the world’s third largest economy, nearly equal to that of Japan and Germany combined, and the region employs about a third of the U.S.-Canadian combined workforce," he said.

White cautioned about a higher-for-longer interest rate environment as borrowing costs remain high and demand weakens. But when rates begin to ease, the market could see a "new normal, an environment with fundamentally different characteristics than that of the past two decades," he said.

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NEW YORK — The stock price for Donald Trump's social media company slid again Monday, pushing it more than 66% below its peak set late last month. Trump Media & Technology Group closed down 18.4% at $26.61 as more of the euphoria that surrounded the stock fades. It's a sharp comedown since nearing $80 after the owner of Truth Socialmerged with a shell company to get its stock trading on the Nasdaq under the symbol “DJT,” for Trump's initials.

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