Joe Bel Bruno March 29, 2008 - 02:33 a.m. NEW YORK (AP) - One of the casualties of the ongoing credit crisis is a long-held notion on Wall Street — that the investment banking community can…
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5.40 TORONTO, NEW YORK (CP) - The Toronto stock market snapped a five-session winning streak Friday, closing sharply lower mainly because of bank stocks that hit the skids following a warning of …
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NEW YORK (MarketWatch) — Stocks will continue to test the market’s newfound resilience next week, as investors look to close the first quarter and cast aside jitters from the credit crisis. However, …
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Last Update: 7:35 PM ET Mar 28, 2008 SAN FRANCISCO (MarketWatch) — Major Latin American stock markets closed mixed Friday, but a jump in shares of Brasil Telecom Participacoes helped cap losses in Br…
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NEW YORK (AP) — Wall Street finished the week with a decline Friday as the financial health of the consumer came into focus following a report that showed personal spending at its weakest growth…
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Hong Kong’s benchmark Hang Seng Index extended the rally Friday on the boost mainland market, which gained support from the rumors of stamp duty cut. The Hang Seng index closed up 621.73 points or 2.7…
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In a recent article published in the Toronto Star, a Canadian columnist outlined five reasons why the Canadian economy is in trouble. Only a couple factors are unique to Canada, and several can be subsumed under the credit crunch, but the pessimists are sounding broad alarm bells. First on the list is the looming drop in prices for commodities, the cornerstone of Canada’s economy. Oil recently sank below $100/barrel, and gold dropped 5% in one day! In addition, China is threatening to curb demand in order to rein in inflation.
The second and third causes for concern are a decline in bank credit and loss of confidence, respectively. Neither of these factors are endemic to Canada, as banks around the world have suddenly developed an aversion to risk and have tightened lending accordingly. Next, corporate expansion (namely of American companies) is stalling; Home Depot and Proctor & Gamble have already announced a temporary hold on opening new stores in Canada. The final factor(s) are American consumers, which collectively spend $9 Trillion per year. The recent tightening of wallets could spell massive trouble for Canada, since some of its provincial economies are primarily driven by cross-border sales to Americans.
In short, the Canadian economy could actually contract in 2008. But perhaps the resulting decline in Canada’s currency, the loonie, would make Canadian exports comparatively more attractive and return the economy to firm footing in 2009.
Read More: 5 reasons to start worrying
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ETF is a basket of securities that is traded on the stock exchange, akin to a stock
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There’s something about a top-performing fund. The glowing reviews, self-congratulatory advertisements by the fund house and a host of stars (read ratings) and awards. It’s a pretty heady mix. Sadly, the NAV performance in isolation presents a one-dimensional picture i.e. it may conceal more than it reveals. In this article, we make a case for looking beyond just the NAV performance by listing instances, when top-performing funds could potentially be bad investments.
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The Canadian Press March 28, 2008 - 7:05 p.m. TORONTO - Some of the most active companies traded Friday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (down 171.9…