Stocks slide after Republicans 'press pause' on debt ceiling talks: Stock market news today – Yahoo Canada Finance + MORE May 19th

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Making sense of the markets this week: May 21, 2023Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.

What’s leading inflationary concerns? Groceries and housing

The disinflationary good-news momentum finally came to an end on Tuesday, when Statistics Canada announced that the annualized inflation rate for April hit 4.4%.

Not only is that slightly higher than March’s 4.3% inflation figure, but it’s substantially more than the 4.1% predicted by most economists.

Source: CBC News

Of course, the major concern for market watchers is that if this re-inflation trend picks up this summer (when do gas prices not go up this time of year?), it could renew pressure on the Bank of Canada (BoC) to raise interest rates again in order to cool down demand. Naturally, that would be bad news for both bondholders and shareholders. The S&P/TSX Composite Index was down 1.2%—its worst daily result in three weeks—after the data was released…

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Stocks slide after Republicans ‘press pause’ on debt ceiling talks: Stock market news today  Yahoo Canada FinanceWhat every Canadian investor needs to know today  The Globe and MailStocks Slide After Republicans Pause Debt Ceiling Negotiations  BarchartS&P 500 hits nine-month high on debt-deal signals  BNN BloombergNASDAQ 100, Dow Jones, S&P 500: Investor Confidence Grows Amidst Debt Ceiling Talks, Strong Earnings  FX EmpireView Full Coverage on Google News

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