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Making sense of the markets this week: September 15, 2024
– moneysense.ca
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
U.S. inflation rates are lowest since early 2021
In the U.S. on Wednesday, the Consumer Price Index (CPI) announcement from the U.S. Bureau of Labor Statistics revealed that August’s costs and services had increased at an annualized rate of just 2.5%. This continues the momentum toward a more “normal” inflation rate and gives the U.S. Federal Reserve some breathing room to cut rates in pursuit of addressing rising unemployment numbers.
Source: CNBC
Futures markets are now pricing in an 86% chance that there will be a 0.25% rate cut from the American central bank next week, and a 14% chance there will be a 0.50% cut.
Meanwhile, the long-term rate cut predictions are showing roughly an 85% chance that we may see at least a 2% cut over the next year—with the target range going from the current 5…
Sobeys/FreshCo parent company, Empire reports earnings
– moneysense.ca
Empire Co. Ltd. is planning for sunnier economic times on the horizon, as the parent company of Sobeys says it’s continuing to see the sales gap between its discount and full-service stores narrow.
The company’s growing FreshCo discount banner has been a “home run” for Empire, said president and CEO Michael Medline on a conference call with analysts discussing the company’s latest earnings on Thursday. “But having said that, we are increasingly confident that full-service is about to come into its day again, and we want to be there for our customers,” he said. “So we’re looking at ensuring that we’re going to be taking market share in the next few years, as the economy hopefully improves a little bit.”
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