Canadian banks to provide financial update in Q4 results ahead of possible recession – National

Canadian banks to provide financial update in Q4 results ahead of possible recession – National

Canadian banks are set to reveal how they’re faring in the lead up to a possible recession as they report quarterly earnings this week. As central banks raise interest rates to slow inflation, economic fears have held bank stocks back compared with the overall market, so analysts will be looking to see how well set … Read more

December Could Offer ‘The Mother Of All Buying Opportunities’ For Oil

December Could Offer ‘The Mother Of All Buying Opportunities’ For Oil

Oil traders and speculators could see the “mother of all buying opportunities” for WTI crude oil in December, as oil prices are about to dip further in the coming days, CNBC’s Jim Cramer says. Oil prices have traded down so far this month, as fears of recession and China’s surging Covid cases have weighed on … Read more

Fitch: This Is The Biggest Downward Risk For Oil Markets In 2023

Fitch: This Is The Biggest Downward Risk For Oil Markets In 2023

Short-term oil price forecasts have been persistently bullish this year, with most forecasters expecting benchmarks to top $100 sometime next year. Over the longer term, however, things change. Goldman Sachs, for instance, this week said in a note that it expected oil could surge to $125 per barrel if China ended its Covid restrictions. Its … Read more

Unemployment to almost double, recession to end by 2024 – Alfonso Peccatiello

Unemployment to almost double, recession to end by 2024 – Alfonso Peccatiello

The US unemployment rate rose to 3.7 percent in October, and industry data suggests that such job trends will continue, with companies like Twitter, Amazon, and FedEx laying off thousands of workers. This will result in unemployment almost doubling to “six-and-a-half percent,” while the ensuing recession will last until 2024, said Alfonso Peccatiello, Author and … Read more

Why Demand Destruction Is More Worrying Than A Supply Crunch In Oil Markets

Why Demand Destruction Is More Worrying Than A Supply Crunch In Oil Markets

It seems that the global economy has been in a continuous state of flux this year. The headlines are repetitive to the point of being preposterous. This uncertainty has translated into high volatility that sent the fear gauge, VIX, to a 150-day high last month. It still remains elevated (albeit down from its recent peak), … Read more

Amazon is planning to lay off around 10K employees starting this week: source – National

Amazon is planning to lay off around 10K employees starting this week: source – National

Amazon.com Inc is planning to lay off around 10,000 employees in corporate and technology roles beginning this week, a person familiar with the matter said on Monday, in what would amount to its biggest such reduction to date. The cuts, earlier reported by the New York Times, would represent about three per cent of Amazon’s … Read more

A ‘perfect storm’ has more Canadians surrendering pets. Here’s how to help – National

A ‘perfect storm’ has more Canadians surrendering pets.  Here’s how to help – National

As the cost of living continues to increase across the country, more and more Canadians are surrendering their pets — and shelters are beginning to reach capacity. “The economic stress that’s coming, and is getting worse, is putting people at risk of not knowing what to do, where to turn and how to get help, … Read more

A Little Known But Powerful Recession Indicator Is Flashing Red

A Little Known But Powerful Recession Indicator Is Flashing Red

The latest in a number of recession indicators has just begun flashing red. getty While last week’s consumer inflation (CPI) reading may have cracked open the window for avoiding recession, it might be too little and too late as a little-known but powerful recession indicator began flashing red last week. The 10-year Treasury minus 2-year … Read more

‘Airbnbust’? Why Canada’s short-term rental hosts are in for a harsh winter – National

‘Airbnbust’?  Why Canada’s short-term rental hosts are in for a harsh winter – National

When Tamara Saeed and her husband were looking for a way to save for their children’s education a few years ago, the allure of Airbnb caught their eye. The family bought a cottage near Grand Bend, Ont., in late 2019, with plans to host the property on the short-term rental platform. They almost second-guessed the … Read more

Fed will create ‘real pain’ as it ‘breaks’ the economy in 2023 – Lobo Tiggre

Fed will create ‘real pain’ as it ‘breaks’ the economy in 2023 – Lobo Tiggre

The Fed raised its benchmark rate on Wednesday by 75 bps, a move that was accompanied by hawkish rhetoric from Fed Chairman Jerome Powell. As the Fed continues to raise rates and weaken demand, this will “break” markets, said Lobo Tiggre, editor of TheIndependentSpeculator.com. “I’ll be very surprised if we get too far into 2023 … Read more