Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
The other stocks on the list are Bank of Montreal, Bombardier Inc., Brookfield Corp., Brookfield Infrastructure Partners LP, Canadian Natural Resources Ltd., Canadian Pacific Kansas City Ltd., CCL industries, Constellation Software, Dollarama, Element Fleet Management Corp., First Capital REIT, GFL Environmental, Intact Financial Corp., National Bank of Canada, Nutrien Ltd., Pembina Pipeline, Shopify Inc., Suncor Energy, Telus Corp., Thomson Reuters Corp., Toromont Industries Ltd.
“We remain bearish the complex over the next three months, particularly nickel and zinc — We see approximately 0-5-per-cent downside from current spot prices vs our 0-3 mt pt price targets for copper , aluminium and tin with 10-15-per-cent downside over the same period for nickel and zinc and lead .
“Net 44 per cent of Americans now support labor unions, highest since ‘72 … 10-year Treasury on course for 3rd consecutive loss … has never occurred in 250-year history of US republic; reflects staggering 40-per-cent jump in US nominal GDP since ‘20 COVID lows … 40-per-cent surge US nominal GDP past 3 years surpassed only in ‘49-’52 & ‘75-’79 ; stocks love booms…S&P500 up 136 per cent in ‘49-’52, +97% in ‘75-78, up 113 per cent since Mar’20 lows; big difference…in prior 2 nominal booms...
“The chief outcome of last week’s somewhat ballyhooed meeting of the BRICS countries in Johannesburg was the announcement that Saudi Arabia and the UAE, among other countries, have been invited to join the grouping.
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