Here are five things you need to know this morning.
I learned about a new fashion aesthetic on my drive to work from Marilyn Denis and Jamar on Chum 104.5. Move over “Barbiecore,” enter the “grocery girl” aesthetic. Grocery girl can be seen at all the hot spots wearing a sweatshirt with images of mortadella all over it. Gold pineapples dangle from her ears. Her socks have lemons all over them. You know food inflation is bad when produce has become the latest luxury statement in fashion.Markets are looking to shake off overnight woes from China.
Adding to that, the country’s biggest property developer asked for more time to make debt payments. Tonight could fan the flames when we get industrial production, retail sales and fixed asset investment data. In Canada, we will watch for the Bank of Canada’s senior loan officer survey at 10:30 a.m., and tomorrow we get inflation data. In markets, I am looking at 50-day moving averages. The NASDAQ just broke below its 50-day moving average for first time in 103 days.
The company blames a shift in consumer spending toward travel and leisure versus our little brown Amazon boxes . The company doesn’t expect this to be a permanent state of affairs but in the meantime it’s focusing on cost containment. The stock is bouncing around the lowest level since 2020. We will see how the market reacts at the open.Shares of U.S. Steel are surging after the company rebuffed a takeover from Cleveland-Cliffs. Their offer was at a 43 per cent premium to Friday’s close but U.S.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Daily Chase: Inflation higher than expected; Suncor annual profits downHere are five things you need to know this morning.
Read more »
The Daily Chase: Canadian Tire, Cineplex deliver earnings; U.S. inflation acceleratesHere are five things you need to know for Aug. 10, 2023.
Read more »
The Daily Chase: Canopy selling facility; More Teck bids reportedly brewingHere are five things you need to know this morning.
Read more »
The Daily Chase: More Tesla price cuts; NFI Group's debt loadHere are five things you need to know this morning.
Read more »
Hedge funds slow value exodus as AI hype drives up growth stocksJPMorgan Chase questions if outperformance will return
Read more »
Scotiabank analyst sees big second half ahead for copper mining stocksDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Read more »