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5 Things to Know Today: Canada’s Money Headlines

1. Bank of Canada expected to hold rates amid Iran‑war price pressures The Bank of Canada is preparing its next rate decision, with policymakers weighing inflation risks tied to the Iran conflict. Markets expect a hold as the Bank releases its new monetary policy report this week.  2. Oil & energy costs rise as global uncertainty persists Oil prices climbed more than US$2.50 as geopolitical tensions continue to influence global supply expectations. Canadian producers are also facing scrutiny, including Cenovus’s Newfoundland oilfield extension, which is projected to increase emissions by 21%. 3. Inflation pressures remain elevated for Canadian households Canada’s annual inflation rate rose to 2.4% in March , driven largely by higher gas prices. Rising costs continue to squeeze consumers, with food and essentials remaining stubbornly expensive.  4. Retail sales slow as Canadians pull back New data shows retail sales growth is losing momentum as households tighten bu...
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Wall Street Nervously Awaits Key Inflation Data

 

Wall Street is treading cautiously today as investors eagerly anticipate the latest inflation report. The Federal Reserve’s hawkish stance on monetary policy has kept the market on edge, and this data release could provide crucial insights.

What’s Happening?

  • Modest Losses: Futures for the S&P 500 and the Dow Jones Industrial Average are down by 0.3% ahead of the opening bell. Despite this, Wall Street remains on track for a positive February, even after a somewhat challenging week.

  • Inflation Focus: The Commerce Department is set to release its report on consumer spending, which includes a closely watched measure of inflation. The Federal Reserve has recently paused its interest rate hikes after raising rates to a 22-year high. The central bank’s primary goal is to manage inflation, and any surprises in today’s data could impact their next moves.

  • Analyst Expectations: Economists predict that year-over-year inflation ticked down in January to 2.3%, compared to December’s 2.6%. The Fed’s target is 2%, so any deviation from this level will be closely scrutinized.

  • Corporate Highlights: Processed food maker Hormel surprised the market by beating profit targets, leading to a nearly 5% premarket jump. However, cloud-computing company Snowflake faced a different fate, plummeting over 22% after announcing the immediate retirement of CEO Frank Slootman. Sridhar Ramaswamy will take the reins.

  • Global Markets: In Europe, Germany’s DAX and Britain’s FTSE 100 are showing resilience, each adding 0.4%. Tokyo’s Nikkei 225 index closed 0.1% lower, with factory output declining at the fastest pace since May 2020.

Investors are keeping a close eye on inflation data, hoping for clarity on the Fed’s next steps. As the market navigates uncertainty, it remains to be seen how Wall Street will react to the numbers. Stay tuned for further updates!


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