S&P/TSX composite creeps higher in late-morning trading, U.S. stock markets up
By The Canadian Press on June 15th, 2023
TORONTO – Canada’s main stock index crept higher in late-morning trading, boosted by strength in the energy and base metal stocks, while U.S. stock markets also climbed higher. The S&P/TSX composite index was up 4.90 points at 20,019.99. In New York, the Dow Jones industrial average was up 350.58 points at 34,329.91. The S&P 500 ... Read More »
Be the first to comment!Stock market today: Wall Street opens mixed amid unclear signs on the economy
By Yuri Kageyama And Matt Ott, The Associated Press on June 15th, 2023
NEW YORK (AP) – Wall Street is off to a mixed start following a messy mix of economic reports that yielded no clear sign about where the economy and inflation are heading. The S&P 500 was little changed in early trading Thursday, coming off its highest level since April 2022. The Dow was up 45 ... Read More »
Be the first to comment!European Central Bank hikes rates again and vows more after US Fed hits pause
By David Mchugh, The Associated Press on June 15th, 2023
FRANKFURT, Germany (AP) – The European Central Bank pressed ahead with another interest rate hike Thursday and pledged more are on the way, aiming to crush inflation that is driving up the cost of groceries even after the U.S. Federal Reserve took a break from its own string of increases. The quarter-point rate boost, to ... Read More »
Be the first to comment!CREA says home sales in May post first year-over-year increase since June 2021
By The Canadian Press on June 15th, 2023
OTTAWA – The Canadian Real Estate Association says home sales in May rose compared with the same month last year to post the first year-over-year sales increase since June 2021 as prices also climbed higher. The association says the number of home sales In May gained 1.4 per cent compared with the same month last ... Read More »
Be the first to comment!Ottawa commits $25M to create Canada’s first-ever LGBTQ entrepreneurship program
By The Canadian Press on June 15th, 2023
KINGSTON, Ont. – The federal government says it will invest $25 million to create Canada’s first-ever LGBTQ entrepreneurship program. Small Business and Economic Development Minister Mary Ng is expected to announce the funding Thursday in Kingston, Ont. The program will be run by the CGLCC, a chamber of commerce for Canada’s LGBTQ community, and will ... Read More »
Be the first to comment!Manufacturing sales up slightly in April on strength in auto parts sales
By The Canadian Press on June 15th, 2023
OTTAWA – Statistics Canada says manufacturing sales rose 0.3 per cent to $72.3 billion in April, helped by higher sales of auto parts and petroleum and coal products. The agency says sales of motor vehicle parts rose 25.1 per cent to a record $3.8 billion in April as sales of engines and other motor vehicle ... Read More »
Be the first to comment!CMHC reports annual rate of housing starts in Canada fell in May
By The Canadian Press on June 15th, 2023
OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in May dropped 23 per cent compared with April as starts of apartments, condos and other types of multi-unit housing projects in Vancouver, Toronto and Montreal fell. The national housing agency says the seasonally adjusted annual rate of housing starts was ... Read More »
Be the first to comment!Number of Americans filing for jobless claims is elevated for second straight week
By Matt Ott, The Associated Press on June 15th, 2023
The number of Americans applying for unemployment benefits remained elevated last week, a possible sign that the Federal Reserve’s interest rate hikes over the past year may taking hold in what’s proved to be a resilient job market. U.S. applications for jobless claims were 262,000 for the week ending June 10, the Labor Department reported ... Read More »
Be the first to comment!Retail sales rose 0.3% in May despite pressure from higher inflation and interest rates
By Anne D'innocenzio, The Associated Press on June 15th, 2023
NEW YORK (AP) – Americans increased their spending at retailers last month despite pressure from still-high inflation and rising borrowing costs. Thursday’s report from the Commerce Department showed that retail sales rose 0.3% from April to May, boosted by stronger sales of auto and parts dealers. Economists had been expecting a decline in sales for ... Read More »
Be the first to comment!European Central Bank hikes rates again to battle inflation after US Fed hits pause
By David Mchugh, The Associated Press on June 15th, 2023
FRANKFURT, Germany (AP) – The European Central Bank pressed ahead with another interest rate hike Thursday, aiming to crush inflation that is driving up the cost of groceries, utility bills and summer vacations even after the U.S. Federal Reserve took a break from its own string of increases. The ECB’s governing council, which decides interest ... Read More »
Be the first to comment!Inflation, interest rates weighing on Canadians’ retirement plans: survey
By Rosa Saba, The Canadian Press on June 15th, 2023
TORONTO – Canadians are struggling to save for retirement, with many planning to push back the next phase of their life amid inflation and higher interest rates, according to a new survey from the Healthcare of Ontario Pension Plan. “With a prolonged period of rising inflation and interest rates, Canadians of all ages are finding ... Read More »
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