Author: Consultant

  • Carney says he’s seen U.S.-Iran framework to end war, calls it a ‘game changer’ in CNN interview

    Prime Minister Mark Carney says he’s seen a copy of the preliminary deal struck between the U.S. and Iran to end hostilities in the Middle East and is calling it a “game changer.”

    “I have to say, it’s exceeded my expectations. We’re very pleased with the deal that’s been struck,” the prime minister said in an interview with CNN’s Kaitlan Collins on the sidelines of the G7 summit in France.

    The precise terms of the deal haven’t been made public, and Carney didn’t say specifically how he came across the copy he reviewed other than “sources.” He also didn’t address criticism of the deal, namely that negotiations didn’t include Israel or Hezbollah.

    U.S. President Donald Trump is also attending this week’s G7 summit, and Carney said Iran was a top priority for himself and other world leaders.

    Officials have sometimes offered contradictory interpretations of what’s in it. One portion of the agreement that has been publicly reported is that negotiations over Iran’s nuclear program will need to take place over a 60-day period once the deal is signed.

    Carney didn’t get into too many details of what is included in the deal in the brief interview. But he told Collins that it “sets the groundwork to ensure Iran doesn’t have a nuclear weapon.”

    “The Rubicon, if I can use that metaphor, has been crossed,” the prime minister said of that portion of the agreement.

    Other details, including the fate of its stockpile of highly enriched uranium, will still need to be addressed during the 60-day negotiating window.

    One point of the deal on which officials have offered conflicting views is how it impacts Israel’s military presence in Lebanon. Carney said the agreement offers a groundwork for “a solution in Lebanon,” but didn’t offer any further details.

    Carney also said that the G7 and larger international community should have a role in ensuring the deal remains intact.

    The unpublished agreement provides for the opening of the Strait of Hormuz and lifting of the blockade, according to a senior U.S. official who spoke to reporters on condition of anonymity to discuss outlines of the agreement on Monday.

    The strait is a key corridor for the world’s oil supply. Typically about 20 million barrels of oil pass through the strait every day. But that supply was cut off during the 100-day conflict, sending gas prices skyrocketing.

    In the past Carney has suggested Canada could help with removing mines from the strait, but he told Collins there are other aspects with which the country can assist once the deal is signed.

    “One of the big lessons here is don’t be held hostage to one choke point in the global economy,” Carney said.

    “In some of these cases, we can really help with that,” he said, specifically mentioning oil, gas and critical minerals.

    Part of the 60-day negotiations would address the potential lifting of sanctions.

    The prime minister told Collins that Canada could also help on the “financial” portions of the agreement — specifically mentioning the unfreezing of assets.

  • June 16/26: TSX hits record high as U.S.-Iran deal optimism boosts risk sentimen

    Canada’s main stock index rose to a record high on Tuesday after U.S. President Donald Trump said at the ⁠G7 summit ​that Washington’s deal with Tehran was moving ahead.

    At 10:42 a.m. ET, the Toronto Stock Exchange’s S&P/TSX Composite index was up 40.65 points, or 0.12 per cent, at 35,316.22.

    The interim agreement would extend a tenuous ​ceasefire announced in April by another 60 days ‌and reopen the Strait of Hormuz, which has been effectively blocked since February, after U.S.-Israeli strikes against Iran.

    “The Middle East conflict deal is definitely supporting markets, and the rally is based on hopes that a final signing will ‌happen, but ​it is more of ‌a memorandum of understanding, not an official document, with key details ​still to be discussed,” said Allan Small, ⁠senior investment advisor at Allan Small Financial Group with iA ⁠Private Wealth.

    The materials index, which includes stocks of metal miners, was up ​2.2 per cent, leading gains on the resource-heavy TSX. SSR Mining, NovaGold Resources and Seabridge Gold rose between 5.6 per cent and 10.2 per cent.

    Mining stocks were also supported by a rise in gold prices as expectations of interest rate hikes from the U.S. Federal Reserve ⁠this year eased, following news of the interim U.S.-Iran deal.

    Heavyweight financials rose 0.4 per cent, adding to gains.

    Six of the 10 TSX sectors were in the green, with the energy sub-index being the biggest drag, down 0.8 per cent, after oil prices fell to a three-month ⁠low on the prospect of renewed supplies against ​weak physical demand.

    “The price of oil is falling quite rapidly and ⁠if there is some sort of deal, I anticipate it going back to where it ‌was before the conflict,” Small said.

    Meanwhile, Canadian home sales rose 5.5 per cent in ​May, making up some ground after a slow start to the typically active spring market, and prices edged lower, data from the Canadian Real Estate Association showed.

    Apparel maker Gildan Activewear (GIL-T -23.80%decrease) ​fell 5.1 per cent after Jehoshaphat Research said it is shorting the stock.

    The blue-chip Dow touched an intraday record high on Tuesday as oil prices slid further on optimism around a U.S.-Iran peace deal, while SpaceX surpassed Amazon’s market value to become ⁠the fifth-most ​valuable U.S. firm.

    Shares of SpaceX climbed almost 9.5 per cent, helping the company overtake Amazon’s market value.

    The Elon Musk-led company said it would acquire software firm Anysphere for US$60 billion in a bid to ramp up its presence in the enterprise AI market.

    Memory chip stocks rose, with Western Digital and Seagate Technology adding 9 per cent and 6 per cent, respectively.

    Still, the ​S&P tech index was down 0.5 per cent after a sharp rally in ‌the previous session.

    Seven out of 11 major S&P 500 sector indexes moved higher as investors rotated into economically sensitive pockets of the market. Financial shares led gains with a 1.1 per cent rise.

    Goldman Sachs gained 1.3 per cent, aiding the Dow, while JPMorgan and Bank of America added 1.8 per cent and 1.2 per cent, respectively.

    The energy index lost 0.4 per cent as oil prices dropped to nearly a three-month low.

    U.S. ‌stocks rallied in ​the previous session after U.S. President ‌Donald Trump said a preliminary agreement to end the conflict had been signed.

    Still, doubts swirled around the ​deal as shippers said it could take weeks for confidence to return ⁠after any reopening of the Strait of Hormuz.

    Markets will next turn to the Federal Reserve’s ⁠monetary policy decision on Wednesday.The central bank is widely expected to hold interest rates at the 3.50-3.75 per cent range, with investors closely watching Warsh’s ​comments on inflation, unemployment and the economic outlook.

    “All eyes are on Warsh’s press conference, guidance and expectations for the market. But given the (U.S.-Iran) deal seems to be inked he has a little bit more latitude to be balanced,” said Thomas Hayes, chairman at Great Hill Capital.

    “Historically, the market gets tested with a new Fed chair in the first year or so. There’s usually ⁠some market volatility.”

    Inflation, in particular, is stuck more than a percentage point above the Fed’s 2 per cent target, and Warsh’s characterization of whether and when it is likely to fall will be a key first step in the evolution of monetary policy under his leadership.

    Traders see a 42 per cent chance of a 25-basis-point rate hike in December, as per CME Group’s FedWatch tool, with rate cuts seen coming only after mid-2027.

    The ⁠Dow Jones Industrial Average rose 360.77 points, or 0.70 per cent, to 52,031.80, ​the S&P 500 gained 7.49 points, or 0.10 per cent, to 7,561.78 and the Nasdaq Composite gained 35.07 points, or 0.13 per cent, to ⁠26,719.01.

    The benchmark S&P 500 was also near early June record highs after a slump driven by concerns about high valuations in the technology sector ‌and the U.S.-Iran conflict.

    Qualcomm rose 3.6 per cent after the Information reported that the chipmaker was in talks to acquire AI ​chip startup Tenstorrent for US$8 billion to US$10 billion.

    Robinhood was up 1.1 per cent as the trading platform said it would cut 10 per cent of its full-time workforce and close remaining open roles.

    Reuters

  • SpaceX stock jumps 20% in first full day of trading after record debut

    • Shares of SpaceX climbed on Monday, their first full day of trading after jumping 20% in their debut on Friday.
    • SpaceX completed the biggest IPO in history, raising $75 billion before underwriters exercised their overallotment.
    • CEO Elon Musk posted on X on Sunday that the company “might be able to reach approximately” $1 trillion revenue in 2030, up from $18.7 billion last year.

    SpaceX shares climbed 20% on Monday, the first full day of trading following a record-breaking debut last week on the Nasdaq.

    Roughly 244 million shares changed hands. Trading volume on Friday topped 500 million shares, approaching Facebook’s debut in 2012, when close to 580 million shares were traded.

    SpaceX on Friday saw its stock closing at around $161 after being priced at $135 per share. That put the company’s market capitalization above $2 trillion, after the biggest initial public offering in history. The stock added about $31 on Monday to close at $192.50.

    Elon Musk, CEO of SpaceX, posted on X on Sunday that the company “might be able to reach approximately” $1 trillion revenue in 2030.

    “And I would be surprised if revenue is not greater than $1T in 2031,” Musk added in a follow-up post.

    SpaceX reported $18.7 billion in revenue in 2025.

    Musk’s space company operates the Starlink satellite internet service and a fleet of reusable rockets. In February, Musk merged the company with his artificial intelligence startup xAI. SpaceX lost nearly $5 billion in 2025 and the blockbuster IPO has sparked debate over whether the company’s huge valuation is justified.

    https://www.cnbc.com/2026/06/15/spacex-stock-record-ipo-debut.html

  • Manufacturing sales up 4.2 per cent in April, Statscan says

    Statistics Canada says manufacturing sales rose 4.2 per cent to $77.1-billion in April, as the petroleum and coal product group hit a record high.

    Petroleum and coal product sales jumped 22.6 per cent to $11.8-billion, following a 25.5 per cent increase in March, helped by higher volumes as several refineries ramped up production after maintenance shutdowns.

    Total manufacturing sales in constant dollars rose 1.8 per cent in April.

    In a separate report, Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.6 per cent to $89.3-billion in April. 

    The building material and supplies subsector was up 4.3 per cent at $12.7-billion, while the mineral, ore and precious metal industry group rose 15.7 per cent to $1-billion. 

    In volume terms, wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, fell 0.3 per cent in April.

  • Oil falls 5% to three-month low as US, Iran reach peace deal to reopen Strait of Hormuz

    Oil prices slumped 5 per cent to a three-month low on Monday amid a broad selloff after the U.S. and Iran said they agreed terms to end their war and reopen the Strait of Hormuz.

    Brent ⁠crude futures ​fell US$4.38, or 5.02 per cent, to US$82.95 a barrel by 10:54 a.m. EDT and U.S. West Texas Intermediate was at US$80.28, down US$4.60, or 5.42 per cent.

    Both contracts fell to their lowest levels since March 10 on Monday after tumbling more than 3 per cent on Friday. WTI futures fell as much as US$5 during the session.

    The U.S. and Iran will sign a memorandum of understanding in Switzerland ​on Friday, said the prime minister of Pakistan, whose country has served ‌as a mediator. Trump said on Sunday that the Strait of Hormuz would be open “toll free” and that a U.S. naval blockade of Iranian ports would also end, though it remains in effect pending completion of the ceasefire agreement.

    Iran’s semi-official Mehr news agency said the draft deal called for reopening the Strait of Hormuz within 30 days under Iranian arrangements.

    “With a wall of oil supply very possibly on the ‌way, the sell-off looks ​justified,” said Dennis Kissler, senior vice president ‌of trading at Bok Financial.

    The world has lost millions of barrels of oil and gas supply since the war ​closed the Strait of Hormuz, a chokepoint for a fifth of the ⁠world’s oil and liquefied natural gas supplies, for more than three months.

    It is unclear, however, how ⁠quickly those barrels will return to market once the waterway is opened.

    “Getting the vessel supply chain in place and the restarts all running smoothly within the ​Arab Gulf will be tough. And some vessel owners will be hesitant to ballast towards the Arab Gulf until we hear from insurers,” said Neil Crosby, head of research at Sparta Commodities.

    Investors are also watching cautiously how quickly Middle Eastern producers can resume oil production and exports following damage from the war and whether more ships will enter the region.

    “If we look at the pre-war range being around US$60 to US$70 in Brent, I ⁠would expect that the new price floor has moved higher from 60 back in the December/January window, perhaps as high as US$75 or US$80 going forward, with some risk to the upside,” Saxo Bank analyst Ole Hansen said.

    Lower oil inventory levels, a slower process to restart production and the refilling of strategic oil inventories should support oil prices in the longer term, said UBS analyst Giovanni Staunovo.

    Stockpiles in the world’s largest economies are headed toward their lowest levels since at least 2003, ⁠squeezed at a record pace due to the lost Gulf output, according to ​the U.S. Energy Information Administration.

    More than 14 million bpd of oil output is shut, or about 14 per cent of world demand, according ⁠to the International Energy Agency’s most recent report. A full return to pre-war production and refining levels is likely to take weeks, months or even years, industry officials ‌say.

    However, Israeli Defense Minister Israel Katz said the military would remain in security zones in Lebanon, Syria and Gaza indefinitely in order to ​protect the border and Israeli settlements.

    The fate of Iran’s nuclear program, another thorny issue, will also be addressed in those later talks, sources previously told Reuters. E4 nations, which include the UK, France, Germany and Italy, said on Sunday the countries were prepared to lift sanctions on Iran in response to steps on its nuclear program.

  • U.S.-Iran deal explained: What we know — and what remains unresolved

    • The U.S. and Iran agreed to a memorandum of understanding on Sunday to end their war after nearly four months.
    • Stocks surged, while oil prices and bond yields fell, after the agreement was announced.
    • The deal has not been signed, the text is unreleased and Israel is not party to the agreement.

    Markets are celebrating a preliminary U.S.-Iran agreement intended to end their war that triggered a global economic downturn and lasted nearly four months. Stocks surged on Monday, as oil prices and bond yields fell.

    No deal has yet been signed, though the sides have agreed to a “memorandum of understanding” and stood down militarily, and the critical Strait of Hormuz is to be reopened as part of the deal, according to U.S. President Donald Trump.

    Here is what we know about what’s been agreed and what could happen next.

    Did Iran sign a peace deal?

    Iran’s deputy foreign minister, Kazem Gharibabadi, said the text has been finalized and will be signed on Friday in Geneva. He added, “A permanent and immediate end to the war has been declared on all fronts.” Trump also said the U.S. naval blockade of Iran would stand down.

    The text of the memorandum of understanding has not, as of Monday, been released. What we know is from statements by those involved in the talks.

    Is the Strait of Hormuz open?

    The Strait of Hormuz isn’t officially open yet, but both Trump and Iran’s deputy foreign minister have said it would reopen Friday after the signing in Geneva.

    Trump’s reaction to the agreement on Truth Social focused almost entirely on the strait, saying it would reopen without tolls.

    He posted on Truth Social: “I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!”

    He later posted to say the strait would open “upon the signing of the Deal on Friday, for purposes of mine removal.”

    Iranian state news agency Mehr later reported the strait reopening would be subject to “Iranian arrangements.”

    Qatar said Monday it welcomed the deal between the U.S. and Iran “on addressing the outstanding issues between them, including ensuring freedom of navigation in the Strait of Hormuz.”

    Is the war over?

    U.S. stock futures jump on Iran deal to end the war

    watch now

    VIDEO01:09

    U.S. stock futures jump on Iran deal to end the war

    The U.S. and Iran have paused immediate hostilities. The agreement would extend the ceasefire for 60 days to create a framework for future negotiations about Iran’s nuclear program, sanctions and regional security.

    These negotiations could create a final peace settlement. Gharibabadi said that the 60-day nuclear negotiations could only begin if the U.S. releases billions of dollars in frozen Iranian funds. The U.S. dismissed the claim.

    Trump reiterated Sunday that “Iran will never have a nuclear weapon.” He also told The New York Times that the U.S. could attack Iran again if negotiations failed to produce a resolution on its nuclear ambitions.

    “The threat of renewed conflict will remain in the coming months. Pushing the most difficult issues into later negotiations prolongs uncertainty and leaves the underlying confrontation unresolved,” Torbjorn Soltvedt, principal Middle East analyst at risk intelligence company Verisk Maplecroft, told CNBC.

    Crucially, Israel is not party to the agreement. The country has been a combatant since the first strikes on Feb. 28. Its attacks on targets in Lebanon have shaken the ceasefire at times. Earlier, Gharibabadi said the “permanent and immediate end to the war” he announced included Lebanon. It’s unclear whether Israel accepts that.

    On Monday, Israeli Defense Minister Israel Katz said in a statement that the Israel Defense Forces would remain in the so-called security zones in Lebanon as well as Gaza and Syria, adding that Israel would retaliate if Iran attacks the country in response to events in Lebanon.

    Who could attend the Geneva signing?

    Tehran has not released a list of attendees, which could hint at what backing the deal has from parts of the Iranian political establishment.

    Abbas Araghchi, the country’s foreign minister, was central in the negotiations mediated by Pakistan and is the most likely senior Iranian signatory.

    If parliamentary speaker Mohammad Bagher Ghalibaf attends, it could signal buy-in from Iran’s conservative and security establishments. If senior security chief Mohammad Bagher Zolghadr attended, it would signal that Iran’s supreme leader approved. Zolghadr is, however, subject to sanctions.

    No official U.S. delegation has been confirmed.

    Vice President JD Vance was reportedly under consideration for a signing ceremony if a deal materialized. Trump could also travel there directly from the G7 summit in Évian-les-Bains, France. White House envoy Steve Witkoff, who has led much of the U.S. negotiating track with Iran, is a likely participant.

    The conflict has involved many more parties and countries than just the U.S. and Iran.

    One of the most important signals will be whether Saudi Arabia and the United Arab Emirates, which were both drawn into the war, send representatives from their Cabinets. That would suggest the agreement has broader backing from countries in the region.

    Israeli officials are not expected to attend.

  • June 13/26: Trump says Iran deal will be signed Sunday, Strait of Hormuz to open immediately after

    President Donald Trump on Saturday said in a Truth Social post that a deal to end the war with Iran will be signed on Sunday, with the Strait of Hormuz opening up immediately after.

    “The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL,” the president wrote.

    This is breaking news. Please refresh for updates.

    https://www.cnbc.com/2026/06/13/trump-iran-deal-strait-of-hormuz.html

  • TSX: Things To Look Out for Week Ending June 19, 2026

    Executive Summary — TSX Watchlist for Next Week

    • Main macro event: the U.S. FOMC meeting on Wednesday, June 17. This will affect U.S. yields, CAD/USD, Canadian banks, real estate, utilities, and growth stocks.
    • Main Canada data: housing starts, wholesale trade, manufacturing shipments, home sales, producer prices, and Canadian retail sales on Friday, June 19.
    • Main geopolitical risk: U.S.–Iran / Middle East peace-deal headlines. Oil fell recently on hopes of a deal, but any reversal could quickly lift oil and pressure broad equities.
    • Most sensitive TSX sectors: energy, materials/gold, financials, consumer discretionary, consumer staples, industrials, and technology.
    • Base case: TSX may remain supported if oil stays lower, copper/gold stabilize, and the Fed avoids a hawkish surprise.

    Key Things to Watch

    DateEventTSX Impact
    Mon Jun 15Canada housing starts, wholesale trade, manufacturing shipmentsAffects banks, industrials, housing-linked names, materials
    Mon Jun 15U.S. Empire Manufacturing, industrial productionAffects cyclicals, industrials, commodities
    Tue Jun 16Canada MLS home salesBanks, REITs, mortgage-sensitive stocks
    Tue Jun 16U.S. housing starts / building permitsLumber, materials, industrials, rate-sensitive stocks
    Wed Jun 17U.S. retail salesConsumer discretionary, staples, USD/CAD, rates
    Wed Jun 17FOMC decisionBiggest weekly macro catalyst: banks, tech, gold, CAD, bonds
    Thu Jun 18Canada IPPI / RMPI producer pricesInflation signal; affects CAD, BoC expectations, industrial margins
    Thu Jun 18U.S. Philadelphia Fed, leading indicatorsCyclical sentiment
    Fri Jun 19Canada retail salesConsumer discretionary, staples, banks, CAD

    Geopolitical Watchlist

    1. U.S.–Iran / Strait of Hormuz

    This is the largest geopolitical variable for the TSX. Reuters reported that a U.S.–Iran deal may be close and could reopen the Strait of Hormuz to normal oil traffic.

    TSX impact:

    If peace deal holdsIf deal fails
    Oil likely stays lowerOil risk premium returns
    Energy stocks may lagEnergy stocks may rally
    Financials/consumer stocks may benefitBroad TSX may face risk-off selling
    Gold may softenGold miners may rebound

    2. Oil price volatility

    Brent recently fell to its lowest level since March on expectations of a peace deal.

    Watch: WTI, Brent, CAD/USD, CNQ, SU, IMO, CVE, ENB, TRP.

    For the TSX, lower oil is mixed: it hurts energy earnings sentiment but reduces inflation fears and helps consumer sectors.

    3. Gold and safe-haven demand

    If Middle East risk keeps falling, gold and gold miners may lose momentum. If talks break down, gold could rebound quickly.

    Watch: AEM, ABX, FNV, WPM, K, BTO.

    Economic Watchlist

    1. FOMC — Wednesday, June 17

    This is the most important macro event. The market will focus on:

    Fed SignalLikely TSX Reaction
    Dovish / rate cuts closerPositive for financials, tech, REITs, utilities, gold
    NeutralTSX likely sector-driven
    Hawkish / inflation concernNegative for tech, REITs, discretionary; CAD may weaken

    2. Canada housing and retail data

    Canada has housing starts, home sales, and retail sales next week. These matter because they show whether the Canadian consumer is stabilizing or weakening.

    Data Stronger Than ExpectedData Weaker Than Expected
    Positive for banks, retailers, housing-linked stocksSupports rate-cut hopes but may hurt banks/retailers
    Could support CADCould pressure CAD
    May lift CTC.A, ATD, L, WN, REITsMay favour defensives over cyclicals

    3. Manufacturing and industrial data

    Canada manufacturing shipments and U.S. industrial production will matter for TSX industrials and materials.

    Watch: CNR, CP, WSP, MG, LNR, TIH, TFII.

    Sector-by-Sector TSX Impact

    SectorWhat to WatchBias for Next Week
    EnergyOil, Iran deal, Hormuz trafficVolatile; upside if peace deal fails, downside if oil keeps falling
    Materials / GoldGold, copper, USD, China demandMixed; gold vulnerable if risk premium fades
    FinancialsFOMC, Canadian housing, credit riskPositive if yields stable and housing data improves
    Consumer DiscretionaryU.S./Canada retail sales, oil, ratesPositive if lower oil + stable consumer data
    Consumer StaplesDefensive flows, grocery/retail spendingStable but may lag if risk-on rotation continues
    TechnologyU.S. yields, Nasdaq, AI sentimentSensitive to Fed tone and U.S. tech direction
    IndustrialsManufacturing data, rail volumes, tradePositive if growth data improves
    REITs / UtilitiesBond yieldsBenefit if yields fall after FOMC

    Bull / Base / Bear Scenarios

    ScenarioTSX Setup
    BullU.S.–Iran deal holds, oil stays controlled, Fed sounds neutral/dovish, Canadian retail/housing data stable. TSX leadership broadens beyond commodities.
    BaseTSX consolidates near recent highs. Sector rotation continues: financials, industrials, consumer names firm; energy and gold choppy.
    BearPeace talks fail, oil spikes, Fed sounds hawkish, yields rise. TSX gives back recent gains; energy may outperform while tech, banks, consumers weaken.

    Actionable Takeaways

    • Top 5 indicators to monitor daily: WTI/Brent, gold, copper, U.S. 10-year yield, CAD/USD.
    • Top TSX sectors to watch: energy, materials, financials, consumer discretionary, technology.
    • Most important day: Wednesday, June 17 — U.S. retail sales and FOMC.
    • Most important Canadian data: Friday, June 19 — retail sales.
    • Key risk: TSX rally has been partly headline-driven. A reversal in Middle East peace optimism could change sector leadership quickly.
  • ECONOMIC CALENDAR: June 15 – June 19, 2026

    Monday June 15

    Euro area industrial production and trade surplus

    815 am ET: Canada housing starts for May. Consensus is for a drop of 8.6% on an annualized basis.

    830 am ET: Canadian manufacturing sales and new orders for April. Consensus is for sales to be up 4.5%.

    830 am ET: Canadian wholesale trade for April

    915 am ET: U.S. industrial production and capacity utilization for May

    Earnings include: Canopy Growth Corp.


    Tuesday June 16

    China retail sales and industrial production

    Canadian existing home sales and average prices for May. The MLS home price index is expected to be down 4% from a year ago.

    815 am ET: U.S. ADP employment report

    830 am ET: U.S. housing starts and building permits for May

    830 am ET: U.S. import prices for May

    Earnings include: Groupe Dynamite Inc.


    Wednesday June 17

    830 am ET: Canadian new housing price index for May

    830 am ET: U.S. retail sales for May. Consensus is for a rise of 0.5%, holding steady from April.

    2 pm ET: FOMC announcement and summary of economic projections. Fed chair Warsh holds first press briefing at 230 pm ET.

    Earnings include: Andrew Peller Ltd.


    Thursday June 18

    830 am ET: Canadian industrial product price and raw materials indexes

    830 am ET: U.S. initial jobless claims for last week

    Earnings include: Accenture PLC, Empire Co. Ltd., Kroger Co.


    Friday June 19

    830 am ET: Canadian retail sales for May. Consensus is for a rise of 0.6%

    830 am ET: Canadian household credit

    U.S. markets closed for holiday