Stockchase Insights
Stockchase Insights on 5i Research 22/06/2024 at 03:21am

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Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research

Market Update:

The Bank of Canada officials discussed whether to wait until July to cut interest rates to gain further assurance inflation is still on track to reach the central bank’s 2% target. On the other hand, the Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% even though inflation has fallen to its target of 2%, as policymakers are concerned a premature cut could fuel another price rise. The Canadian dollar was 73.00 cents USD. The U.S. S&P500 ended the week up 0.4%, while the TSX was down 0.5%. 

It was a mixed week of greens and reds. Materials rose 2.2%, while energy and industrials gained 1.2% and 0.2%, respectively. Real estate, consumer staples and technology all edged down by 1.7%. Financials slid by 0.7%, while consumer discretionary gave up 0.4%. The most heavily traded shares by volume were Canadian Natural Resources, Bitfarms, and Power Corporation of Canada.
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Shannon Saccocia, CIO, Boston Private
Shannon Saccocia, CIO, Boston Private on Halftime Report on CNBC 21/06/2024 at 09:44pm

US EQUITIES

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They're focused on their growth projects in Arizona and Indonesia, and are not focused on M&A, despite talk of the M&A cycle in materials heating up. This is driven by copper prices, but FCX is worth watching.

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Stephen Weiss, Founder, Short Hills Capital Partners
Stephen Weiss, Founder, Short Hills Capital Partners on Halftime Report on CNBC 21/06/2024 at 09:42pm

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87% recurring revenues. He spoke to the CEO last week and confirmed and beat his expectations.

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Jason Snipe, CIO, Odyssey Capital Advisors
Jason Snipe, CIO, Odyssey Capital Advisors on Halftime Report on CNBC 21/06/2024 at 09:40pm

US EQUITIES

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Their sports business has grown nicely and Las Vegas spending is picking up. Likes it.

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Bill Baruch, Founder, Blue Line Capital
Bill Baruch, Founder, Blue Line Capital on Halftime Report on CNBC 21/06/2024 at 09:38pm

US EQUITIES

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Peak negativity is fading now as this bottoms. He targets $200 in the near future. It's not just a car story, but an AI one and a charging one. He will buy more soon.

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with Alan Tong

After the close

With Allan Tong

21/06/2024 at 09:14pm

Nvidia weakens, markets wobble

Markets ended the week on a very mixed note as leader Nvidia sank 3.22%. The S&P closed -0.16%, the Nasdaq -0.18% and the Dow was flat, adding only 15 points. For the week, the S&P gained 0.57%, the Nasdaq 0.12% and the Dow 1.3%.

Elsewhere, Apple finished Friday -1.04%, Intel 1.53%, Etsy 3.38% and Broadcom -4.38%. The U.S. 10-year yield held at 4.257% while Bitcoin slipped 1% to US$64,200.

Similarly, the TSX shed 0.12% on Friday and declined 0.4% for the week as the Canadian index continues to lag its Wall Street peers. Sectors were mixed with staples and tech leading, but materials and energy lagging. Big movers: Bombardier 4.05%, CNQ -1.42%, Suncor -1.24%, Lightspeed 3.13% and IGM Financial 3.02%. Gold fell US$38 to US$2,321 and WTI gave back 0.8% to US$80.60.

💾 NVIDIA Corporation (NVDA-Q) -3.22%

🍎 Apple Inc (AAPL-Q) -1.04%

💾 Intel (INTC-Q) +1.53%

🛍 Etsy Inc. (ETSY-Q) +3.38%

🧬 Broadcom (AVGO-Q) -4.38%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1%

🛫 Bombardier Inc (B) (BBD.B-T) +4.05%

🛢 Canadian Natural Rsrcs (CNQ-T) -1.42%

🛢 Suncor Energy Inc (SU-T) -1.24%

💾 Lightspeed Commerce Inc (LSPD-T) +3.13%

🏛 IGM Financial Inc. (IGM-T) +3.02%

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Brian Madden
Brian Madden on Market Call (BNN TV) 21/06/2024 at 07:25pm

NORTH AMERICAN

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Believes large tech names have carried majority of market gains, and broader markets gains appear to have narrowed. TSX index not keeping up to performance of S&P 500 market cap weighted index. Interest rate cuts have not spurred performance in rate sensitive sectors within Canada. Over the medium term - presenting buying opportunity for real estate and other rate sensitive industries. Over the short term - expecting further pain in depressed sectors. Tech multiples are exceeding 2000's era multiples - however - would advise investors not too be too hasty on opinions. Quality tech names are generating cash flows unlike the 2000 era cash. 

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