Trending Stocks, Investing Tips, and Market Insights on Stockchase
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The company is about to go public.
The big banks make up 24.33% of the TSX; metals and mining 17%, oil/gas 14.5%, software 7.14%, insurance 7%. The budget offers slightly more headwinds than benefits, such as more competition for the banks, but more of the beneficiaries will be in the private sector, not public. Metals: this sector will grow, but mining is cyclical. Also, critical minerals mining is very small in Canada. So supporting this sector doesn't benefit the TSX much overall. Energy boils down to commodity prices, so the budget can't control that. The outlook for oil/gas is negative. It doesn't matter if we build more pipelines, though getting oil and gas to foreign markets will increase Canadian market share. Overall, the best play is the utilities sector and he recommends the XUT ETF.
It is a Michigan utility company.Its growth of 7 to 8% is locked in through regulation which means it can't grow much faster, or slower either. The next best competitor to utilities is treasury bonds but as yields go down people move money back to utilities. Dividend is 3%
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Stocks rally, except Nvidia
Following a week of extreme highs and lows after the U.S. Midterms, markets firmly rallied on Monday, led by tech. The Nasdaq surged 2.74%, the S&P 2.35%, the Dow 2.15% or over 1,100 points, and the TSX 1.84% or more than 650 points. The outstanding exception amid this euphoria was Nvidia, which sunk 4.27% after bombshell allegations that CEO Jensen Huang was having an affair with a Singapore tech executive and alleged spy for China. Nvidia has launched an internal investigation. NVDA shares closed off the lows of the day, suggesting the market isn’t panicked. However, benefitting from the news were Nvidia’s competitors: Intel jumped 5.49%, AMD 13.26% and Broadcom 8.78%. Meanwhile, Apple climbed 2.43%. The U.S. 10-year yield inched up to 4.88% while Bitcoin rose 1% to US$75,000.
In commodities, silver popped 2.75% to US$53.25 and gold added US$68 to US$4,139. In Toronto, materials were by far the strongest sector, followed by financials and discretionary while energy lagged the most as WTI sank 4.25% to US$87. Major movers were Suncor at -2.01%, Hammond Power Solutions 10.55%, Energy Fuels 9.79%, Silvercorp Metals 9.14% and Hudbay Minerals 9.09%.
💾 NVIDIA Corporation (NVDA) -4.27%
💾 Intel (INTC) +5.49%
💾 Advanced Micro Devices (AMD) +13.26%
🧬 Broadcom (AVGO) +8.78%
🍎 Apple Inc (AAPL) +2.43%
🅱 Bitcoin (BTCUSD) (BTC-USD) +1%
🛢 Suncor Energy Inc (SU.TO) -2.01%
🧬 Hammond Power Solutions Inc. (HPS.A.TO) +10.55%
⛏ Energy Fuels Inc. (EFR.TO) +9.79%
⛏ Silvercorp Metals Inc. (SVM.TO) +9.14%
⛏ Hudbay Minerals (HBM.TO) +9.09%
Most Anticipated Earnings: FRU-T, NXE-T and more Canadian Companies Reporting Earnings this Week (Nov 09-13)
Here are the Canadian companies listed on Stockchase who are reporting earnings this week: 🏛 Financial 🛢Basic Materials ⚡ Energy 👨⚕️ Healthcare 🚚 Industrials 💡 Utilities 💻 Technology 🛍 Consumer Use this list wisely to identify buying opportunities.Happy trading !!! read more
