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Last Tuesday, Finance Minister Chrystia Freeland tabled the federal government’s 2024 budget, which included changes to capital gains taxes that have created a frenzy of discussion, worry and anxiety.
The government announced in the budget that it intends to raise the inclusion rate on capital gains taxes from 50% to 66.7% for all gains realized by corporations and trusts, and for capital gains over C$250,000 realized by individu...
The government announced in the budget that it intends to raise the inclusion rate on capital gains taxes from 50% to 66.7% for all gains realized by corporations and trusts, and for capital gains over C$250,000 realized by individu...
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Good morning mooers! Here are things you need to know about today's market:
● S&P/TSX 60 Index Standard Futures are trading at 1,316.60, up 0.42%.
● As inflation cools, Macklem says different countries will cut rates at own pace
● Crude oil prices drop as Israel, Iran downplay attacks, easing market concerns, ANZ bank says
● Honda nears deal with Canada to boost electric ve...
● S&P/TSX 60 Index Standard Futures are trading at 1,316.60, up 0.42%.
● As inflation cools, Macklem says different countries will cut rates at own pace
● Crude oil prices drop as Israel, Iran downplay attacks, easing market concerns, ANZ bank says
● Honda nears deal with Canada to boost electric ve...
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The rising tension in the Middle East had a significant impact on US stocks. The Nasdaq Composite Index fell 1.8%, the biggest one-day decline in two months. The S&P 500 index fell more than 1% for two consecutive days, the biggest two-day decline since the Bank of Silicon Valley went out of business. The Dow fell for the sixth day in a row, and Salesforce's stock price plummeted by more than 7%.
Tesla's stock price fell 5.6% to an 11-month low, leading the decline of the “Seven Sisters” in the tech industry. Although Nvidia rose nearly 3% in early trading, it eventually closed down 2.5%. Furthermore, benefiting from a strong rebound in the investment banking business, Goldman Sachs net profit surged 28% year over year in the first quarter, and the stock price eventually closed up nearly 3%.
The US government said it did not support Israel's retaliatory attacks against Iran. Meanwhile, after the US retail sales data was released, the yield on 10-year US Treasury bonds rose by more than 10 basis points in the intraday period, breaking 4.60%, reaching a five-month high. The US dollar index also jumped to a new five-month high, while the yen continued to fall, hitting a new low since 1990.
Increased instability in the Middle East prompted investors to seek safe haven assets. Gold prices surged nearly 3% intraday, hitting a record high for the third day in a row. After experiencing fluctuations in crude oil prices, the decline narrowed somewhat. Affected by global political uncertainty, the price of Bitcoin also experienced a sharp drop, falling below $63,000 at one point.
At the same time, due to the release of the new “National Nine Rules” policy, China's A-share market generally rose, but small stocks and ST shares experienced sharp declines. China Securities also performed well in the US stock market...
Tesla's stock price fell 5.6% to an 11-month low, leading the decline of the “Seven Sisters” in the tech industry. Although Nvidia rose nearly 3% in early trading, it eventually closed down 2.5%. Furthermore, benefiting from a strong rebound in the investment banking business, Goldman Sachs net profit surged 28% year over year in the first quarter, and the stock price eventually closed up nearly 3%.
The US government said it did not support Israel's retaliatory attacks against Iran. Meanwhile, after the US retail sales data was released, the yield on 10-year US Treasury bonds rose by more than 10 basis points in the intraday period, breaking 4.60%, reaching a five-month high. The US dollar index also jumped to a new five-month high, while the yen continued to fall, hitting a new low since 1990.
Increased instability in the Middle East prompted investors to seek safe haven assets. Gold prices surged nearly 3% intraday, hitting a record high for the third day in a row. After experiencing fluctuations in crude oil prices, the decline narrowed somewhat. Affected by global political uncertainty, the price of Bitcoin also experienced a sharp drop, falling below $63,000 at one point.
At the same time, due to the release of the new “National Nine Rules” policy, China's A-share market generally rose, but small stocks and ST shares experienced sharp declines. China Securities also performed well in the US stock market...
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$Rivian Automotive(RIVN.US$ trades lower on a Teslarati report that the EV maker will delay future deliveries of its R1T all-electric pickup and R1S all-electric pickup SUV until 2022.
Teslarati sources and members of the Rivian Owners Forum have received emails stating that their pre-ordered R1S SUVs won't be delivered until March 2022 or later, months behind the original projection date of January 2022. Some R1T pre-orders have also been delayed according to sources.
The email did not mention the production start date for the R1S, which was supposed to be in December 2021 but may not be on track given the delays.
The breakdown through an informal poll on the Rivian forum:
$Lucid Group(LCID.US$ $Tesla(TSLA.US$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$
Teslarati sources and members of the Rivian Owners Forum have received emails stating that their pre-ordered R1S SUVs won't be delivered until March 2022 or later, months behind the original projection date of January 2022. Some R1T pre-orders have also been delayed according to sources.
The email did not mention the production start date for the R1S, which was supposed to be in December 2021 but may not be on track given the delays.
The breakdown through an informal poll on the Rivian forum:
$Lucid Group(LCID.US$ $Tesla(TSLA.US$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$
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$SPDR S&P 500 ETF(SPY.US$ Has anyone noticed the U.S. stock market is trading at 209% of GDP versus an average (across cycles) of 85%?
When the housing bubble burst, this ratio fell all the way down to 50%.
Inflation is rising.
Rates are rising.
Markets will...de-risk.
There's a yawning gap between 209% and 85%...or 50%.
The window is closing.
Time to sell.
When the housing bubble burst, this ratio fell all the way down to 50%.
Inflation is rising.
Rates are rising.
Markets will...de-risk.
There's a yawning gap between 209% and 85%...or 50%.
The window is closing.
Time to sell.
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I am drawn to the comparison between the two most innovative CEOs of the last three decades: Musk $Tesla(TSLA.US$ and Bezos $Amazon(AMZN.US$.
The commonalities are huge:
• both are visionary & brilliant;
• both are distinguished by their execution not just their ability to see where the puck is going;
• nothing modest about their ambitions -- world domination is the only ambition that counts;
• when they see a legacy impediment, they see it as an extraordinary opportunity to reinvent and disrupt -- from the ground up;
• they attract talent;
• both are fearless about entering new sectors in which they have zero demonstrated expertise (insurance, healthcare & logistics are the tip of the iceberg;
• they both have the intergalactic space bug so bad it hurts.
The differentiators are more nuanced. To me, they mostly involve style. One loves smoking pot on the telly, inciting the SEC on TW and generally being a bad boy. The other is decidedly less flamboyant. One has staked out an enormous philanthropic ambition; the other . . . not so much.
The commonalities are huge:
• both are visionary & brilliant;
• both are distinguished by their execution not just their ability to see where the puck is going;
• nothing modest about their ambitions -- world domination is the only ambition that counts;
• when they see a legacy impediment, they see it as an extraordinary opportunity to reinvent and disrupt -- from the ground up;
• they attract talent;
• both are fearless about entering new sectors in which they have zero demonstrated expertise (insurance, healthcare & logistics are the tip of the iceberg;
• they both have the intergalactic space bug so bad it hurts.
The differentiators are more nuanced. To me, they mostly involve style. One loves smoking pot on the telly, inciting the SEC on TW and generally being a bad boy. The other is decidedly less flamboyant. One has staked out an enormous philanthropic ambition; the other . . . not so much.
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$Bitcoin(BTC.CC$ The government wants the freedom to continue to dilute the dollar and screw over the people. We the people see right through it.
If there ever was any doubt who the Fed works for, let it be known that it works for the bankers. If you want a reminder of this from today, please google "Fed terminates 2016 enforcement action against Goldman Sachs for confidential data misuse". They basically have a revolving door with GS. The Fed hires GS employees who then hire more GS employees; it works for both, just not for the people.
If there ever was any doubt who the Fed works for, let it be known that it works for the bankers. If you want a reminder of this from today, please google "Fed terminates 2016 enforcement action against Goldman Sachs for confidential data misuse". They basically have a revolving door with GS. The Fed hires GS employees who then hire more GS employees; it works for both, just not for the people.
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