U.S. crude oil has erased most gains for the year and is now up just under 2% in 2024. In a surprise move, eight OPEC+ producers laid out a plan […]
Author: Consultant
Oil alliance OPEC+ extends collective crude production cuts into 2025
The influential Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, on Sunday agreed to extend their official crude output cuts into 2025, also stretching two […]
Canada’s economy grew at weaker-than-expected pace in Q1, raising odds of June BoC cut
Canada’s economy grew at a slower pace in the first quarter of the year than economists and the Bank of Canada expected, increasing the possibility that the central bank will […]
Calendar: June 3 – June 7
Monday June 3China PMIJapan manufacturing PMI and capital spending(9:30 a.m. ET) Canada’s S&P manufacturing PMI for May.(9:45 a.m. ET) U.S. S&P manufacturing PMI for May.(10 a.m. ET) U.S. ISM manufacturing […]
May 31, 2024: Oil Futures Settle Lower On Demand Concerns
Oil prices fell on Friday, extending losses to a third straight day, amid concerns about the outlook for demand. Expectations of interest rate cuts by central banks, and hopes that […]
CWB Financial Group raises dividend as second-quarter profit up from year ago
CWB Financial Group CWB-T +1.38%increase raised its quarterly dividend to 35 cents per common share, up one cent from its previous quarter, as it reported its second-quarter profit rose compared with a year […]
U.S. economic growth revised lower for first quarter; unemployment claims edge up
The U.S. economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer spending, the Commerce Department reported on Thursday.Gross domestic product – the broadest […]
RBC profit beats analyst estimates as it absorbs HSBC Canada
Royal Bank of CanadaRY-T +3.01%increase reported higher second-quarter profit that beat analysts’ estimates on a boost from its capital markets business as the lender set aside lower-than-expected provisions for potentially sour loans.RBC […]
CIBC earnings beat estimates, building on earlier momentum
Canadian Imperial Bank of CommerceCM-T +3.28%increase reported second quarter earnings that beat analyst estimates, helping the lender build on the positive momentum it has established in recent months.CIBC made $1.7-billion last quarter, […]