Skip to main content

Featured

Gas Prices Are Finally Falling in Canada — Here's How Much You're Saving and What Comes Next

After weeks of painful price spikes driven by the U.S.-Iran conflict, Canadians are finally catching a break at the pump. The national average gas price dropped to 169.1 cents per litre on Monday, April 20 — down from a peak near 198 cents — as two things happened at once: Iran reopened the Strait of Hormuz to commercial traffic, and Prime Minister Mark Carney's federal fuel excise tax suspension came into effect. National Average 169.1¢/L ▼ Down from ~198¢/L peak Gas savings (excise tax) 10¢/L off gasoline until Sept. 7 Diesel savings 4¢/L off diesel until Sept. 7 WTI Crude (current) ~$87 ▼ Down from $120 peak What just happened — and why Since the U.S.-Iran conflict began in late February, Brent crude surged more than 55%, briefly topping $120 a barrel — the largest oil supply shock in the history of global markets, according to the Interna...
Post a Comment
Read more

article

Labels

US Futures Recover as Tech Sector Leads the Way

 

US stock futures are pointing to a rebound from recent losses, with investors looking to fresh quarterly earnings for inspiration amid dwindling hopes for an early 2024 interest rate cut. S&P 500 futures added around 0.4%, while those on the tech-heavy Nasdaq 100 jumped 0.7%. Dow Jones Industrial Average futures hugged the flatline. 

Techs are in the vanguard after a bullish AI-fueled revenue outlook from TSMC, a key supplier to Apple and Nvidia. The Taiwanese contract chipmaker’s profit fell but beat Wall Street estimates. Shares of AMD and other chipmakers stepped higher in premarket as TSMC put on almost 7%. 

Stocks are still struggling to get off the ground this year as central bankers’ comments and mixed economic data put investors’ faith in a Federal Reserve pivot to the test. The odds of a rate cut in March as seen by traders have dropped 10 percentage points from a week ago, per the CME FedWatch Tool (Chicago Mercantile Exchange Group).

Investors are on the lookout for fresh data to feed their expectations, so Thursday’s release of readings on weekly jobless claims will be in focus. Housing starts and building permits for December are also on the docket. Eyes will also be on Atlanta Fed President Raphael Bostic, scheduled to appear twice today and closely watched for any deviation from his colleagues’ pushback on rate-cut bets.


Labels:

Comments

Post a Comment