Author: Alexander Lee

Enbridge (TSX:ENB) has gained momentum following the recent interest rate cut by the Bank of Canada. Investors who may have missed the initial rebound are now considering whether ENB stock remains undervalued and suitable for inclusion in a self-directed Tax-Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP) portfolio. The Enbridge share price reached a high of $59 in June 2022 before experiencing a gradual decline due to interest rate hikes in Canada and the United States. The stock dropped to $43 last fall but has since seen an upward trend, with bargain hunters expecting further rate cuts in…

Iron ore prices have recently hit the lowest level since 2022, reflecting concerns over a potential oversupply in the market. The decrease in prices can be largely attributed to reduced steel production in China, the largest importer of seaborne iron ore, as well as increased exports from major mining companies. Futures for iron ore have declined for a fourth consecutive day, dropping below US$94 a ton. Steel mills in China produced approximately 83 million tons of steel last month, marking a nine percent decrease compared to the same period last year. This reduction in steel production in China, coupled with…

The artificial intelligence (AI) sector in Canada is steadily growing, with a projected compound annual growth rate (CAGR) of about 25% from 2023 to 2028. While AI-specific stocks make up a smaller portion of the Toronto Stock Exchange (TSX), Canadian companies are increasingly incorporating AI into their operations, attracting the attention of investors. One company to watch in this space is OpenText (TSX:OTEX), a leader in Information Management that is at the forefront of integrating AI into its product offerings. With a market capitalization of approximately $10.97 billion and a history of innovation, OpenText is establishing itself as a key…

In a recent article, it was highlighted how advancements in the medical field are enabling individuals like Casey Harrell, who had lost his ability to speak due to a medical condition, to communicate once again. Reconnecting the brain to the body through innovative technologies has made a significant impact on individuals facing similar challenges. Harrell, who was diagnosed with amyotrophic lateral sclerosis in 2019, underwent a surgical procedure where researchers implanted 256 tiny electrodes in his brain. This brain-computer interface technology allowed him to regain his ability to speak, a development that has been praised for its potential to transform…

The stable employment levels reported in July may not accurately reflect the state of the Canadian labor market, as there are some concerning indicators. Most economists anticipate that these figures will prompt the Bank of Canada to implement further interest rate cuts. Statistics Canada revealed that the national unemployment rate remained at 6.4 per cent in July, with a minimal change in total employment. A modest loss of 2,800 jobs was recorded for the month, marking the second consecutive month of job losses in the country. However, there has been an overall increase of approximately 346,000 positions compared to the…

Investors focusing on the artificial intelligence (AI) industry have primarily looked at companies producing chips, computer servers, and cloud services. However, the impact of AI extends beyond the tech sector and is expected to boost earnings in various other industries in the near future. Enbridge, a company known for its oil transmission infrastructure, has made strategic investments in natural gas and renewable energy sectors. These areas are poised to benefit from the expansion of AI data centers due to the high energy consumption of computers running AI programs. Existing electricity generation and transmission networks may struggle to meet the increased…

Atco (TSX:ACO.X), a diversified industrial company, continued its profitable track record in the second quarter of 2024. The company has shown significant growth in adjusted earnings and dividends since the early 1990s, resulting in a more than 1,100 percent return for shareholders. With a workforce of around 20,000 employees, Atco is committed to addressing global challenges in energy, housing, security, and transportation. Despite experiencing some volatility in demand for its services, especially in macro-sensitive sectors, Atco has consistently delivered strong financial performance. Although the stock has seen a 18.11 percent increase year-over-year, it has declined by 2.94 percent since 2019,…

The stock of a prominent technology company experienced a significant decline on Friday following the release of its second-quarter financial results, which fell short of investor expectations. Net sales for the company increased by 10% to US$148 billion in the second quarter that ended on June 30. Despite this growth, the company’s stock dropped by more than 12% to US$161.68 per share. Looking ahead, the company has forecasted net sales to range between US$154.0 billion and US$158.5 billion in the third quarter of 2024. The company also reported an increase in operating income, net income, operating cash flow, free cash…

Following the publication of our top stock picks for the first half of 2024, it is essential to provide a comprehensive view by highlighting the worst-performing stocks of the year thus far. These stocks, despite their performance, may still hold value and deserve consideration for inclusion in investment portfolios. The five worst-performing stocks of 2024 are: 1. Decibel Cannabis: A decline of 57.69% in returns. 2. AnalytixInsight: A decrease of 61.11% in returns. 3. Draganfly: A drop of 64.3% in returns. 4. Goldflare Exploration: A loss of 66.67% in returns. 5. Global Compliance Applications: An 83.33% decrease in returns as…

Oil prices experienced a significant increase this week following the announcement from Hamas regarding the assassination of their political leader, Ismail Haniyeh, in Iran as a result of an Israeli airstrike. This event escalated geopolitical tensions in the Middle East, a region that contributes around one-third of the world’s crude oil production. In response to the assassination, West Texas Intermediate (WTI) crude oil prices rose by up to 3.8%, surpassing US$77 per barrel. The conflict’s escalation included a Hezbollah attack in the Golan Heights, controlled by Israel, resulting in 12 fatalities. This development also jeopardized ongoing ceasefire negotiations between Israel…