Making sense of the markets this week: May 7, 2023 May 5th

The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.

Latest News

The 11 best travel credit cards in Canada for July 2023 + MORE Jul 13th

Credit Cards The 11 best travel credit cards in Canada for July 2023 Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required. Find my perfect card* .... More »

Vision Pro: Apple's new augmented reality headset unveiled - BBC Jun 5th

Vision Pro: Apple's new augmented reality headset unveiled BBCApple unveils augmented-reality headset, revamped Mac lineup at annual conference The Globe and MailApple Announces Very Fancy 'Facial Computer' KotakuApple stock: Why a headset could send shares even high.... More »

The best high-interest savings accounts in Canada for 2024 + MORE May 21st

Save The best high-interest savings accounts in Canada for 2024 Here are the accounts offering the highest interest rates and lowest fees. Compare now Tap the button for more details. W.... More »

Japan's Nikkei jumps 6%, rebounds from rout on market recovery hopes - Reuters Apr 8th

Japan's Nikkei jumps 6%, rebounds from rout on market recovery hopes ReutersAsian shares gain and Japan’s Nikkei 225 jumps 6.5 per cent despite uncertainty over tariffs The Globe and MailJapan’s Nikkei 225 stock index up 5.5% as world markets gyrate under tariffs uncertaint.... More »

TFSA contribution room calculator Jan 1st

Find out your current tax-free savings account (TFSA) contribution limit by using this calculator. powered by Tax-free savings account is a bit of a misnomer. While you can use it for straightforward savings, think of it more accurately as an investment holding account to store things like&nb.... More »

Making sense of the markets this week: May 7, 2023

– moneysense.ca

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.

A big thanks to Diamond Hands Dale Roberts for so ably stepping in to cover the big market news over the last couple of weeks!

Powell sticks to forecasted script as Fed hikes interest rates

On Wednesday, U.S. Federal Reserve chair Jerome Powell announced that key interest rates would go up from 5% to 5.25%. This rate hike was widely forecasted, and it appeared to have only a minor effect on the broader markets; the Dow Jones Industrial Average (DJIA) declined 0.8% on the day, but the larger Russell 2000 index (reflecting small-cap stocks) actually finished up 0.41%.

In addition to the hike, notable comments from Powell’s announcement include:

“Inflation remains well above our longer run goal of 2%. Inflation has moderated somewhat since the middle of last year, nonetheless inflation pressures continue to run high and the process of getting inflation back down to 2% has a long way to go…

Continue Reading On moneysense.ca »

Banks.ca constantly finds the best and most current Investment information available in Canada.

Share