Skip to main content

Featured

5 Things to Know Today — June 4, 2026

  What every Canadian should have on their radar this Wednesday morning. ①  RECESSION REALITY CHECK Canada Is Officially in a Technical Recession Statistics Canada confirmed last week what many economists had feared: Canada's economy contracted for a second consecutive quarter, meeting the standard definition of a technical recession — the first since the pandemic. Real GDP fell 0.1% on an annualized basis in Q1 2026, following a revised 1.0% drop in Q4 2025. That's three negative quarters out of the last four. The miss was striking — analysts had forecast growth of around 1.5%. Weakness in resource extraction, construction, and resale housing all dragged on the numbers, while business capital investment fell for a fifth consecutive quarter. The silver lining: per-capita GDP actually edged up 0.2% as Canada's population declined slightly. Some economists believe the worst may already be behind us, with April GDP tracking a modest rebound. ②  BANK OF CANADA Rate Decision C...
Post a Comment
Read more

article

Labels

Stock Market Today: S&P 500 and Nasdaq Surge as Tesla Leads Earnings Rally

 

In today’s stock market, the S&P 500 and Nasdaq Composite made significant gains, fueled by a fresh wave of earnings reports. Here are the highlights:

  1. S&P 500 Rebounds: The benchmark S&P 500 (^GSPC) rose more than 1% after staging a comeback from a six-day run of losses in the previous session. Investors are optimistic about tech-focused companies’ earnings, which could help pull stocks out of the slump they’ve faced since the start of the year.

  2. Tesla’s Impact: Tesla (TSLA), often referred to as one of the “Magnificent Seven,” is in the spotlight. The electric vehicle (EV) maker’s earnings report is highly anticipated, given its weight in the S&P 500 index. Tesla’s shares have faced headwinds due to a disappointing delivery outlook, the cancellation of plans for a sub-$30,000 model, and a shift in strategy toward robotaxis. As the first major tech company to report this week, Tesla’s results set the stage for other giants like Meta (formerly Facebook), Microsoft, and Alphabet.

  3. Other Earnings: Legacy automaker General Motors (GM) kicked off earnings season with strong first-quarter results and an upward revision to its full-year guidance. GM’s shares rose around 5%. Meanwhile, Spotify (SPOT) stock jumped after the audio streaming company swung to a profit, beating expectations.

  4. Market Bottom? Fundstrat’s head of research, Tom Lee, suggests that US stocks may be near a market bottom. Elevated inflation expectations and hedge fund short interest surging to 2022 levels are among the signs. Lee points to technical levels for the S&P 500 to watch: 5019.02 (a positive sign if surpassed) and 4953.56 (a potential setup for a buy signal).

Overall, today’s market performance reflects optimism driven by earnings reports and the anticipation of tech giants’ results. Keep an eye on Tesla and other major players as they continue to shape market sentiment.


Labels:

Comments

Post a Comment