Jennifer Sor Andrew Kelly/Reuters Stocks traded mixed on Wednesday following Powell’s hawkish two-day testimony before Congress. The Fed Chair warned steeper rate hikes may be needed due to strong economic data. Higher interest rates could also raise the risk of recession, which is weighing on investors. Loading Something is loading. Thanks for signing up! Access… Continue reading US stocks trade mixed as investors assess outlook for rates after Powell testimony
The dollar is spiking against rival currencies as Fed boss Powell delivers tough talk on rate hikes
A key dollar benchmark reached its highest so far in 2023 on Wednesday. Investors are preparing for the Fed to ramp up the pace of interest rate hikes. The dollar has inflicted “technical damage” to some of its rivals, says one strategist. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading The dollar is spiking against rival currencies as Fed boss Powell delivers tough talk on rate hikes
Google, Meta, and Snap would be the biggest winners if TikTok is banned, with shares set to rise on billions in new ad revenue, CFRA says
Some US lawmakers are working to ban TikTok. That would be a boon to Snap, Meta, and Google, CFRA says. The research firm says TikTok could make $9 billion-$10 billion in US revenue in 2024. The probability TikTok will be banned is still low but it’s gone up significantly over the last six months, the… Continue reading Google, Meta, and Snap would be the biggest winners if TikTok is banned, with shares set to rise on billions in new ad revenue, CFRA says
Housing market sentiment is nearing all-time lows as Americans fret over mortgage rates and employment outlook
US housing-market sentiment is edging back to an all-time-low, according to Fannie Mae. That’s because Americans are worried over rising mortgage rates and the unemployment outlook. Markets are expecting more interest rate hikes from the Fed, which could help keep mortgage rates elevated. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Housing market sentiment is nearing all-time lows as Americans fret over mortgage rates and employment outlook
Manitoba pre-election budget offers tax cuts, higher spending
Fiscal plan boosts spending on health care, social services and other areas by an average of close to 10% Author of the article: Published Mar 07, 2023 • Last updated 7 hours ago • 2 minute read Join the conversation Manitoba Finance Minister Cliff Cullen listens to a question during a pre-budget press conference at Cityplace… Continue reading Manitoba pre-election budget offers tax cuts, higher spending
Bank of Canada set to pause interest rates before U.S. Federal Reserve
Tiff Macklem is expected to hold the benchmark overnight rate at 4.5% on Wednesday Author of the article: Bloomberg News Erik Hertzberg Published Mar 07, 2023 • Last updated 9 hours ago • 3 minute read Join the conversation Bank of Canada Governor Tiff Macklem in Ottawa. Photo by Adrian Wyld/The Canadian Press files The Bank… Continue reading Bank of Canada set to pause interest rates before U.S. Federal Reserve
Skeptical investors worry whether advances in AI will make money
Investors are caught between excitement over AI and a broader tech downturn that has led to falling investment in startups Author of the article: Financial Times George Hammond in San Francisco Published Mar 07, 2023 • 4 minute read Join the conversation The recent launch of “generative AI” tools such as OpenAI LLC’s ChatGPT chatbot… Continue reading Skeptical investors worry whether advances in AI will make money
Posthaste: Housing market correction is hitting these cities the hardest — and they’re not Toronto or Vancouver
Economists see another 10% fall in home prices this year A sign post in St. Catharines, Ont,. shows the distances in nautical miles to ports near and far. Many small cities across Ontario are experiencing the worst hit from the housing correction. Photo by Denis Cahill/Postmedia Good Morning, Advertisement 2 This advertisement has not loaded… Continue reading Posthaste: Housing market correction is hitting these cities the hardest — and they’re not Toronto or Vancouver
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