Nov Financial News

By Lewis Krauskopf

The federal government appears to have a perception problem: Most Canadians don’t understand what the carbon tax is costing them while others believe they are paying more than they receive in rebates, a new poll suggests.

Are Canada’s big banks just taking their usual conservative approach or are there signs of more trouble ahead in the sector?

The US stock market just posted its best month in almost a year and a half, and one of its best Novembers in decades, defying skeptics and fueling hopes for more gains to come.

power consumption grew nearly 8.5 per cent to 119.64 billion units (BU) in November, showing a surge in electricity demand due to festivities and increased economic activities. In the year-ago period, power consumption stood at 110.25 BU, higher than 99.32 billion units recorded in November 2021, according to the government data. The peak power demand met — the highest supply in a day — rose to 204.60 GW in November.

sugar since the current season began on Oct. 1, down 10.7% year on year, as mills in two key states started operations later than usual, a leading trade body said on Friday. Lower sugar production could lead the world's second-largest producer to refrain from allocating export quotas and support global prices, that are trading near multi-year highs. The start of sugar cane crushing in the western state of Maharashtra and neighbouring Karnataka was delayed to Nov.

Further, last month, as many as 322 smallcap stocks hit fresh 52-week highs. All the midcap and smallcap indices of BSE outperformed the benchmark Sensex and gave about 9-11% returns in November. The easing of US bond yields and crude oil prices contributed to the recovery in the market last month. Bond yields eased following encouraging inflation data in the US, which strengthened the view that the interest rate hike cycle is closer to the peak.

world cup final frenzy did not help the month register more passengers than November 2019. In the end, the traffic this year was 2% lower than the traffic in November 2019. This makes November the only month in 2023 when the traffic dropped below the corresponding month in 2019.

economy, India's housing market barely suffered a scratch from the Reserve Bank of India's 2.5 percentage points of interest rate rises from May 2022 through February this year. Average home prices were forecast to rise 6.8% this year and next, poll medians from a Nov. 16-30 survey of 12 property market experts showed, more than double the just over 3% increase in 2022 according to Reuters calculations based on the RBI's House Price Index.

Corey Perry released a statement regarding his mysterious contract termination Thursday, apologizing to his fans, teammates and family, but failed to shed any more light on why he was dropped from the Chicago Blackhawks.

Avenue Supermarts Ltd (D-Mart), part of the diversified retail industry, has given a breakout from a Descending Triangle pattern on the weekly charts and has opened room for the stock to head towards 4000 levels. Short to medium-term traders can look to buy the stock now for a possible target of Rs 4500-4600 in the medium term, suggest experts. The stock hit a 52-week high of Rs 4225 on 15th December 2022, but it failed to hold on to the momentum and witnessed some profit taking. The retail giant gave a breakout from a 2-year Descending Triangle formation on the weekly charts formed since November 2021 last week. The momentum also helped the stock to climb above the 50-week Moving Average. In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts. The daily Relative Strength Index (RSI) is at 61.1.

investors bought Indian equities worth more than ₹9,000 crore in November, reversing two consecutive exit runs in the previous two months, as a decline in energy prices and stable US yields burnished the allure of risk assets in Emerging Markets. Experts believe the trend will continue as India's economic growth is likely to surprise on the upside while interest rates are expected to be stable, with the policy-influencing price gauge now trending close to the central bank's target. In the past ten years, overseas investors have purchased Indian stocks on six occasions in December, and have been net sellers on four occasions.

Slightly more Americans filed for jobless claims last week, but the overall number of people in the U.S. collecting unemployment benefits rose to its highest level in two years

RBC chief executive Dave McKay made some of his most forceful comments yet on the importance of the federal government approving the bank’s $13.5-billion takeover of HSBC Canada as the deal attracts rising opposition.

Elon Musk told advertisers that have fled social media platform X over antisemitic content to «Go f… yourself» in a fiery Wednesday interview. His profanity-laced remarks followed a moment of contrition in a New York Times DealBook Summit interview. Musk said repeatedly he was sorry for publishing a tweet on Nov.

DFW housing and macro econ analyst Amy Nixon discusses the future of the housing market on Making Money.

A federal judge has accepted confidential materials from Jump Crypto Holdings in discovery as part of the Securities and Exchange Commission’s lawsuit against Terraform Labs.

Toronto-Dominion Bank missed analysts’ earnings estimates after setting aside more money than forecast for potentially souring loans and announcing a restructuring charge related to a planned three per cent cut to the lender’s workforce.

Historic levels of household debt are straining the finances of Canadians to the point that it will be impossible for the Bank of Canada to keep interest rates at current levels for long, according to prominent economist David Rosenberg.

(Reuters) -Some major banks expect global economic growth to ease further in 2024, squeezed by elevated interest rates, higher energy prices and a slowdown in the world's two largest economies.

By Shristi Achar A and Amruta Khandekar