Author: Alexander Lee

The recent interest rate cuts by the central bank have not had a significant impact on the Canadian housing market, according to data from July. While experts anticipate that lower borrowing costs will attract more buyers in the fall, creating pockets of affordability in certain markets across Canada, the overall housing activity in July saw a decline in home sales after a brief uptick following the initial rate cut. Despite two consecutive quarter-percentage-point rate cuts in back-to-back months by the Bank of Canada, the effects were only felt in the final week of July’s sales. This decrease in the benchmark…

The use of Artificial Intelligence (AI) has become a prominent topic in the stock market in 2024, with the potential to streamline work processes and enhance business efficiencies. The applications of AI are vast and diverse. While U.S. stocks have seen significant gains due to the excitement surrounding AI, Canada also has companies benefiting from this trend. For investors looking to allocate $3,000 into AI stocks, here are three options for long-term investment. One promising AI stock in its early stages is Zedcor (TSXV:ZDC), with a market cap of $167 million. Zedcor specializes in mobile surveillance and security solutions, utilizing…

Canada’s primary stock index experienced steady gains on Wednesday amidst cautious investor sentiment surrounding key U.S. inflation data. The TSX saw a rally driven by the performance of the technology and financial sectors, which offset declines in oil and metal prices. In the U.S. market, stocks showed growth, with the three major averages surpassing their August 2 levels before the global market selloff. The Bureau of Labor Statistics reported a 2.9% year-over-year increase in consumer prices, a slight decrease from June’s 3% and the lowest reading in approximately three years. The Canadian dollar was trading at 72.91 U.S. cents, down…

The Canadian government recently implemented a new 30-year amortization plan for insured mortgages, which took effect on August 1. In a recent interview with The Market Online, Michael Succurro, CEO of Fluent Capital Management and co-founder and president of Spark Financial Group, discussed the implications of this change. Succurro explained that individuals purchasing properties under a million dollars, particularly first-time homebuyers, can now make down payments ranging from 5 to 99 percent. The extended amortization period from 25 to 30 years allows for greater flexibility in payment schedules, ultimately reducing costs for buyers. To learn more about eligibility requirements and…

Global Atomics’ Dasa uranium project in Niger remains supported by the government, as indicated in the company’s Q2 2024 results, unaffected by recent political developments. During a recent site visit, Osumane Abarchi, the mines minister and commissaire colonel, expressed optimism about Dasa becoming a flagship mining project in Niger, benefiting the state in terms of revenue, employment, and environmental management. Significant progress has been made at the Dasa project, with over 1,200 meters of ramp development completed since November 2022, and 7,000 tons of development ore brought to the surface to date. At present, the uranium spot price stands at…

The Toronto Stock Exchange (TSX) has shown signs of recovery, reaching pre-selloff levels after the recent market turbulence. Investors are closely monitoring TSX-listed stocks that have experienced setbacks but are striving to regain their previous momentum. These companies have been making headlines with their recent developments, prompting the question of whether they will successfully turn things around. Tilray Brands Inc., listed on the TSX, has been making strategic moves to strengthen its position in the craft beer market. A recent acquisition agreement with Molson Coors has allowed Tilray to expand its beer portfolio, potentially leading to substantial revenue growth. Additionally,…

Victoria Gold, a miner based in Yukon, will be liquidating its assets and selling them to the highest bidder following a significant cyanide solution spill at its Eagle gold mine on June 24. This decision was made by the Ontario Superior Court of Justice, which appointed PricewaterhouseCoopers to oversee the management of the company’s property, assets, and operations on behalf of creditors. The Government of Yukon has expressed a lack of confidence in Victoria Gold Corporation’s management team due to their perceived lack of urgency in addressing the environmental and safety concerns arising from the spill. The company’s stock has…

The Vice President of the United States, Kamala Harris, is set to deliver a policy speech outlining a series of proposals aimed at reducing consumer costs. One key proposal is a federal ban on food and grocery price gouging, as part of a broader effort to address the high prices that have burdened American households and contributed to dissatisfaction with the current economic climate. Harris intends to prioritize the investigation and penalization of “big corporations” engaged in price fixing and other anti-competitive practices within the food and grocery industries. In addition, she plans to scrutinize proposed mergers between large food…

Lenovo Group Ltd. reported a stronger-than-anticipated quarterly profit, indicating a promising outlook for the computing industry’s gradual recovery, supported by increased global investment in artificial intelligence. Net income saw a 38% growth to US$243 million in the quarter ending in June, surpassing the estimated $231 million. Revenue also increased by 20% to $15.4 billion. The company’s performance is reflective of the rising demand for servers crucial in AI development, which is helping boost the computing hardware market following the post-Covid downturn. Major tech companies like Amazon.com Inc., Google, and Baidu Inc. are ramping up their spending on data centers to…

The U.S. Department of Commerce has announced a significant increase in the combined duty rate on Canadian softwood lumber products, raising it to 14.54 per cent from 8.05 per cent. This decision comes as a response to concerns regarding Canada’s alleged subsidization and dumping of softwood lumber products into the U.S. market. The new duty rate will apply retroactively to exports made in 2022 and will impact future exports of softwood lumber products to the United States. Canadian lumber producers have already paid over C$9 billion in duties, which are being held in deposit pending the resolution of this dispute.…