BNN - Monday, May 27, 2024 - 09:00 a.m. (ET) - Segment #3

okay, before I let you I was a longtime beetle owner. No, I don't, I feel the beetle has a doesn't really have a path forward with will. So I can, but but but maybe in the electric vehicle world are no haha of surprises coming for the far but in the meantime, if you love the jewell off the correct know the I I do, I you get the look at the end of the chair, jon. >> We're going to launch the completely new. It boasts food electric. And B.C. is going to be at I make car and do you feel like based on some of these steps you're taking, you're you're in a position to win market share in the canadian it's not just a matter getting my chair to be event into the canadian market. I really been playing to the canadian market. That's edition of the 4 2nd brent. Okay, edgar, thanks very much for that. I'm thinking a strata president of volkswagen canada joining us here in studio. And a reminder as we get ready for the opening bells, that it's going to be a more quiet day. North american trading no U.S. activity with the memorial day long weekend playing out. But the tsx comes into this trading session. >> On a recent role ended up being a losing week last week. But friday was a positive session. And we're not too far from the all-time highs. We're already seeing a little bit of interest in the price of oil and gold this morning. So that could rub off on some of the energy and materials stocks. We'll see how that plays out in trading as well. Today, we'll have those opening bells on the other side of this break. You're watching the open on bnn bloomberg. - [Narrator] The Ninepoint Web3 Innovators Fund. Get exposure to digital assets and to innovative companies leveraging Web3 technologies today. The Ninepoint Web3 Innovators Fund. Available on the tsx, ticker tkn. Ninepoint. As the host of theSmart World PodcastI have the chance of speakingwith some interesting, successful people. I'm grateful to have theopportunity to share their amazing stories. Join me, Thane Stenner,every month on Smart Wealth availableon iHeart. (upbeat music plays) ( ) ( ) ( ) (vo) Sail through the heart of historic cities and unforgettable scenery with Viking. Unpack once, and get closer to iconic landmarks, local life, and cultural treasures. Because when you experience Europe on a Viking Longship, You'll spend less time gettingthere and more time being there. Viking. Exploring the World in Comfort. Text on Screen The Harvest Diversified Monthly Income etf. Consistent monthly income. The Harvest Diversified Monthly Income etf. Hdif on the tsx. (Dramatic music) I am Paul Atreides! Duke of Arrakis! Let me fight beside you. I'll show you the way. Okay, it is opening bell time in downtown toronto. The canadian council for aboriginal business celebrating its 40th anniversary ahead of the national indigenous peoples day on june, 21st. It's time for the first 15. >> Is brought to you global innovation meets invest.

>> Great to have you with us on a quieter trading day on this monday. Let's get right to the tsx story because it is a memorial day holiday in the united states, which means no regular trading stateside gives the attention to the canadian market, which has been rock and roll and recently. Now keep in mind, we're coming off a week where yes, we to friday again. But overall, we were down on the week, but generally speaking in recent weeks, we've seen this canadian market trending higher. As a result, as we're now coming to the end of may, with a little bit of a positive start today. We're continuing our winning ways are roughly 3% so far in the month of may. And we'll be watching a couple of the key sectors today. I'm already seeing a little bit of interest and utilities and consumer discretionary. Our financials group is a modestly weaker at this hour, we'll be watching the bank stocks throughout the week. We're going start to kick off a more officially bank earning season moving into tomorrow. We're already at td numbers last week, but obviously will be watching all the big banks. Bit of quiet day today, but materials as a group training a little bit higher today, and we're also seeing and part of that is is to, to gold. And we all see energy ever so slightly higher right now. Oils got bouncing around, will let probably increasingly hear more about the plans for opec+ nations as we come to the end of this month as well, because a lot of people are. Squarely focused on what kind of production plans from some of the biggest producers the world are going to look like over the next few months. Now beyond what's happening in some of the commodities today. We've had a relatively active day in the cryptocurrency market which is gotten the lion's share the tension over the last week, at least with all the increasing focus on the road towards the fury of ets. It's up again today, gaining around one and a half percent. And since may 10th, we have seen that cryptocurrency ad give or take $1000 in value per coin. So pretty huge run called the last month, the bitcoin price itself, which really open the door towards us, even talking about a ets because a successful launch earlier this year. Those spot bitcoin etf. It is right now to basically a 10th of a percent so far on the day. And because this is the a day of focus on the canadian market as opposed what's happening in new york. Let's take a look at some of the stocks might be worth. Tracking in trading today. Hut 8 mining might be one of those crypto plays its modestly higher right now. Temp player shopify a little bit higher at this hour. We mentioned that gold prices are trending upwards. So barrick itself is gaining around 7 tenths of cent looking at so the other world markets today, we are still seeing some french and german trading today. They're nearing the end of their session. Both clues. It closed before noon eastern time. I should remind you that the U.S. the U.K. market is also closed today. So it's kind of set us up for a fairly quiet global stage, but it is a positive session in europe. There was a little bit of debate about ecb official suggestions higher rates for the duration of the year will be something the market has to get ready for. As for how things wrapped up in the asian session, we did see some. Needed to positive performance. And bloomberg's april hong filed this report on the asian trading day. >> Just stocks were mostly in the green today, if you will, by renewed optimism off the federal reserve, potentially having room for rate cuts this year against the backdrop of data out of the U.S. from last week, we showed consumers paring back their inflation expectations. The nikkei rose about 6 tenths of a percent rally on the south korean benchmark of more than one percent. We also saw solid gains in the afternoon session in china as well as hong kong added fuel from data, which showed industrial profits rose that came against the backdrop of exports growth returning as well as domestic demand improving. Another added tailwind, so to speak for chinese equities from that multi-billion dollar chit fund that the government is molding in order to help support the company's in that sick tup. Now in terms of risk, we did see some can sign off to doj official spoke says that they will move cautiously when it comes to really angry inflation expectations. We also have from his deputy when she died as he said that the end also battle against d

flation is inside. That seems to suggest father tightening in the resort. Reid is in a we bracing for an acceleration of normalisation of monetary policy from the doj. The yen, been 0, 1, 5, 7, against the green that and stay there for much of the session. Do know here, though, that the trading volumes within as the U.S. was on holiday from bloomberg news. I'm able hong in singapore. >> All right, we will get back to the markets after this break. And a quick update on the road ahead for canadian investors. Martin pelletier will join us with his insight analysis. Stay with us. The opening bells continue after this short break. At the cse, we're always invested in public markets, in business, in growth, in you. Discover amur capital. Amur capital's track record of consistent performance has delivered industry leading returns since inception. Why play games with your financial future? Choose amur capital - a Simpler Approach to Investing. ( ) ( ) The infiniti qx60 exemplifies modern luxury. With powerful suv performance, three rows of comfort, and a sleek-yet-daring design. ( ) Lease a 2024 qx60 from 0.99% apr for up to 24 months. Visit INFINITI.ca. ( ) all right, it's a live look what's happened in toronto trading so far this morning. And it's a positive start for the canadian stock market on quiet north american day with the memorial day holiday in the united states limiting action. But it's great opportunity to 0 in on the canadian stock market, which took a bit of pull back over the week last week, but is still not too far from its record highs. And we're continuing to see some of the recently strong sectors out perform again today like materials and energy. Joining us with more on the markets is martin pelletier. She your portfolio manager at trivest wealth at wellington altus private counsel, right? Thanks as always. Good to see it on, on on asleep your day for the market. If you know, hasn't been a sleepy run up here for the canadian stock market. What's been your assessment of what's happening with the equity world here in canada? I think I get dragged out with the U.S. market. U.S. markets. >> Leading most global markets and bringing up little confidence in the economies like in and canada and domestic markets. And I think what is benefitting from that general overall trends happening south of the border. And you know, you said with the tempered response to and these like for like today where it's quite us. Markets are closed. >> Yeah, and I guess at the end of the day, it's a good chance to slice and dice and remind our audience that is as a as as weightings go sometimes so go the markets and you know, the U.S. for better or for worse as that huge component that is tied to technology. Our market has some outperform some individual tech stocks that had huge rallies, but it's less influential in the overall market because we've got sectors like materials and energy. The carry a bigger waiting. What do you think is the waiting that's going to carry investors the for this over the course of this year. >> Well, I'm still very optimistic about. >> The energy sector, the commodities the resurgence of inflation having a little bit of that in your for floyd's. I think that's going to be beneficial to the tsx. >> I am worried about the canadian economy. Certainly in comparison to what's happening. And the u.s., isn't the same level of strength, especially among the average household that is financially weaker and more susceptible to higher interest rates. And so that shooting pack some of the more broader segments, the market, even as the canadian banks that are reporting more recently. And so I guess that opens the door to a conversation around the canadian banks they have plenty of exposure to the canadian consumer. We're going to get a flood of canadian bank earnings this week. >> What are you going to be watching for? Well, looking for some excitement. Something think to get a hold out. >> I mean, from what mean to you reported a they did beat on revenue and adjusted earnings, the any money anti-money laundering uncertainties, no running there we think that the flat, the low single digit year-over-year cash earnings and slow loan growth, but stable margins. And is described to you is, is not

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