BNN - Thursday, May 23, 2024 - 09:00 a.m. (ET) - Segment #5

hasn't really leaned into fanatics are these types of etfs year. And the fact that we're seen catch interests so quickly. And the cpa just lost the couple about a month ago. So it's very new to, so to see that adoption very, very quickly is is a great side. And I think which launches we're going to see more products like this when you there's a plenty of benchmark type etf. Sure, you know, sort diversified bomb want or once do more playing the no. I think that the market is going to start to more maddux, more non-traditional things like active, smart beta exeter. So I think overall, it's a good sign in terms what types of products we expect from the, from the market. And what's interesting to me is I feel like I don't know how you feel about it, but I feel like in all the conversations I have with investors right now. >> That trend investing like where we're going to go over the next 10 years is more pronounced that it's been a long time. And even earlier in the program, when asked somebody, how do you go about investing in the nvidia world, but you're concerned about investing in a stock that's already gone up a lot. The ideal is well, you can look at the etf market trends or what ets are all about. So imagine this trend investing theme is is benefitting the etf community. That's exactly right. And I think why investors like etf says because to your point about having single stock risk year to you really like and then all of a sudden. >> In the earnings turn or what not and you're not so reliant just on one company. So I think it's just a natural gravitation towards these types of it, like a theme, whether its ai, robotics, cyber cetera. Think it's very easy spy. The etf, you get pretty close exposure, get a lot of names you spreading your risk around and not just so reliant on one name. All right, thanks for much good contacts is always appreciated figures from the bloomberg intelligence team joining us on. So the etf trends. >> Coming up, we'll get a little bit more on that to the big corporate stories of the day here in canada, watching tv's latest quarterly results. And in the united states, big numbers from nvidia will be right back with more coverage. Champion Iron offers a rare solution to decarbonize the steel industry. Which represents up to 10% of global emissions. The company recently doubled production capacity at its mine in eastern Canada. It is now investing to produce one of the world's purest iron ore. Enabling green steelmaking without the use of coal. Controlling a large portfolio of high purity iron ore resources. Champion is considering strategic partnerships to further develop the region. Champion Iron. Find a great deal foryour ideal hotel.Open trivago, type inwhere you want t select your check-in andcheck-out dates and search. Compare prices forthe same hotel and save up to $50 a night. Hotel? trivago. Harvest Healthcare leaders Enhanced Income etf. Maximize your monthly cash flow from Canada's leading healthcare etf. More income from Healthcare Leaders. Harvest ETFs, income happens here. We know you care. But if this is all too real for you and your loved ones. Make the call. Because we care too. Home Instead. To us, it's personal. At Pet Valu, we treat your pet like our pet. Well, Georgie, it's time for adult food. And there's a lot of great options to choo... too choose from. They grow up so fast. I know... I do this like ten times a day. Invest in the top performing Canadian bank etf, hcal from Hamilton ETFs. Hcal offers enhanced growth potential and higher monthly income for long term investors. Get more with hcal, the top performing Canadian Bank etf. The future is zero Carbon. Mayfair Gold is developing Canada's first carbon neutral gold project with offsets funding residential solar panel installation across the country. Mayfair Gold. (Funky hip hop music) >> Well, welcome to our number 2 here on the open. I'm jon erlichman right now watching the markets story in north america. The tsx having a tough time for a second day here. In us, we've seen all-time high for the nasdaq on those nvidia quarterly results. We'll dive deeper into the markets as we roll

through the hour will also take a look at financial crime in canada, why canadian institutions have become preferred destination for money laundering. We'll speak with the call and your of dirty money a little bit later in the hour. Plus in today's edition of the list. I mentioned nvidia. Which had some standout profit margins in the latest quarter, will see how those nvidia profit margins compared to the rest of the magnificent 7. And are there other technology companies that have even bigger profit margins. All that coming up, let's get into our newscast this hour. Let's start with td bank, which says a comprehensive overhaul of its U.S. money laundering program is underway. The statement was included as part of the bank's quarterly earnings. No new provisions were announced today associated with that tt reported adjusted profit that beat analyst estimates that was helped by its capital markets unit. Td did provision more for credit losses and those were higher than expected. Topping a billion dollars. On the nvidia stock story at this hour. This year's surpassing $1000. The chip maker at the centre of the ai boom. Reporting revenue and profit in latest quarter that soared and sharing revenue forecast that also topped analyst estimates. In addition, nvidia unveiling 10 for one stock split, which will take place in the coming weeks and boosted its quarterly dividend. And then the name we've been tracking today's live nation. The number of outlets, including bloomberg reporting, the U.S. justice department and a group of states will sue the company for anti-trust violations tied to the control of concert tickets. Sales by live nation's ticketmaster unit. The report says the lawsuits will seek remedies, including breaking up the company. Taking a look at the broader markets right to a new all-time high for the nasdaq intraday trading the heels of the nvidia results. Kind of a mixed story, though, overall with the s&p close of the flat line. The dow actually negative at this hour. And in toronto, we're seeing some negative action as well after initial boost. Well, our consumer staples and energy stocks are higher tech to a lesser degree. We've seen the rest of the subgroups in the red led by health care, utilities and communication services. The oil front today. Have seen some gains after 3 down days, traders were assessing the rise in crude stockpiles in the U.S. yesterday. Right now, wti it 78 10 gold still struggling after its biggest one-day drop this month on wednesday, the minutes from the latest fed meeting suggesting U.S. interest rates will need to stay higher for longer. The currency story in expectations for a rate cut here is you probably know, are growing and our loonie had weakened against the greenback for 3 sessions based on that. But we have advanced a little bit today where 73 0, 5, us and a quick look at bitcoin at this hour. Now on intraday basis, we had to trade above 70,000. There was some excitement earlier this week, but the possible approval if you're in the etf at this hour, we're looking at bitcoin down. However, it saw off about 2%. (Upbeat electronic music) all right, let's get to some of the movers that paul bagnell has been tracking in our newsroom this morning. And celestica is one of the names on your list. Yeah, I'm sure you've taken viewers through the big tech names in the U.S. that are soaring today, jon, for reasons that we know a reason that we know, I guess. And that's me. >> Results from nvidia after the close of trading. And that forecast as well as you've told viewers, the nasdaq composite has touched an all-time high in today's trading on that dynamic. Well, one of the big get tech stocks in this country, which has been soaring for about a year and a half. Now celestica is up again to a new multi year high. And as far as I can tell, there's no company specific catalyst for this as far as I can tell, this is just a tech euphoria coming from the nvidia results, which are affecting this tsx-traded

about whether manufacturer electronic components. Ida's do work for a so-called hyperscalers big big companies building huge data centers, often driven by initiative, send ai objectives. There's celestica trading up by 4.3% to 76 92. That may not be an all-time high because the stock soared way back when when it first hit public markets back in the early 2 thousands, but definitely is a a multi multi-year high for shares of celestica up 400% over the past 52 weeks. The other when we looked at there was constellation energy. That is a U.S. power provider. It's a green power of ire refined or wind power and non carbon. A durham drive. Sources of electricity are what it specializes in is based in baltimore. I don't see a catalyst for this move either but yeah, what's remarkable is the run that the stock has been on recently. We can take a look at its one year graph, constellation energy in the u.s.. We don't have. And it's a big in trading sessions. Okay. As for decliners, where you know, well, there is one U.S. technology name that's down, jon. And it appears to be on the comments made on the nvidia conference call yesterday. It is a risk networks. This is a cloud networking provider of data centre a data centre company that provides networks used in data centres. There's that stock down 6% now appears to be the reaction to comments made on the nvidia call about the pending launch of nvidia spectrum acts, products. I'm a risk to has a competing product. Now bloomberg intelligence analyst says he doesn't think that a re still be knocked off course here in terms of its goal of selling a 750 million dollars U.S. worth of its back and networking solutions in 2025. But it sounds like comments from nvidia, a call similar products from nvidia have investors have that word. So that stock is down about 6 and a half percent. Otherwise is a mid cap. Canadian mining company or a minerals. This stock also has risen very sharply recently, as you see right there, but losing some altitude today. It's announced a deal in brazil where it's purchased a couple of projects. And the look explore for gold and copper on those properties. All right, paul, thank you very much for the breakdown on some of those movers this morning. And we did want to come back to the tv story, which we've been covering the company's latest quarterly results. >> Topped they were helped by their capital markets business in particular, but does appear as if the latest quarterly results were overshadowed by the multiple law enforcement and regulatory investigations. And us into. The laundering of funds tied to illegal drug sales. Now td had already set aside hundreds of millions of dollars coming into this quarter. It's been investing to improve internal controls but on the conference call this morning with analysts ceo bharat masrani called the bank's money laundering shortfalls unacceptable. He said the bank hopes to resolve the matter as soon as possible. We also mentioned in our newscast that he had set aside. More money for potentially bad loans, credit loss provisions and that's going to be interesting team to watch with all the other banks tv is kicking off bank earnings season. Many of the big banks in this country have been setting aside more money against the risk of low losses. I just given that borrowers in this country are feeling squeezed by higher interest rates right now. So a broader macro theme to be watching. As for the road ahead for team outside more clarity on the financial penalties associated the issues they're dealing with in the united states. Certainly the analysts are interested in that. We spoke with christine dobby earlier in the program about some of the other comments that came up on the conference call that he had with the analysts, there were some indications that I guess the growth that they pushing through the united states might cool down a little bit as they in the united states to certain degree after some massive expansion in that market will continue to track the td story on the other side of this break, though, white income seeking investors should be taking a closer look at the bond market. Will talk to clissold, the chief U.S. strategist at ned davis research next. Champion Iron offers a rare solution to decarbonize the steel industry. Which represents up to 10% of global emissions. The company recently doubled production capacity at its mine in eastern Canada.

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