Stocks Set to Break 4-Day Losing Streak

Futures for Canada’s resource-heavy main stock index rose on Wednesday as commodity prices climbed, while investors awaited U.S. economic data that could boost the chances of more big interest rate hikes from the world’s largest economy.

The TSX Composite dropped 366.45 points, or 2%, to close Tuesday at 18,216.68.

December futures grabbed 0.6% on Wednesday.

The Canadian dollar fell 0.15 cents to 72.49 cents U.S.

Cameco Corp and Brookfield Renewable Partners said after markets closed on Tuesday that they would acquire nuclear power plant equipment maker Westinghouse Electric in a $7.9-billion deal including debt, as an energy crisis in Europe renewed interest in nuclear power.

ON BAYSTREET

The TSX Venture Exchange floundered 20.12 points, or 3.3%, Tuesday to 587.90.

ON WALLSTREET

Stock futures rose Wednesday as investors awaited the latest inflation numbers and the minutes from the Federal Reserve’s latest meeting.

Futures the Dow Jones Industrials rocketed 159 points, or … Read more

Potential $1 Trillion Space Travel Could Provide Big Thrust for these Top Stocks

Space tourism stocks are ready for take-off. Should all go well, the industry could be worth up to $800 billion by 2030, says UBS, as reported by Forbes. By 2040, the industry could be worth $1 trillion, added Morgan Stanley. Plus, there’s already a good deal of pent-up demand. According to analysts at Cowen, 39% of people with a net worth of more than $5 million are already interested in paying at least $250,000 for a flight, says CNBC. Even billionaire-run companies, like Amazon (NASDAQ: AMZN), Tesla (NASDAQ: TSLA) CEO Elon Musk’s SpaceX, Virgin Galactic (NYSE: SPCE) are ready for lift-off. Even companies, like Maxar Technologies (NYSE: MAXR) (TSX: MAXR), and Maritime Launch Services Inc. (NEO: MAXQ) (OTCQB: MAXQF) are gearing up for big launches of their own. In fact, on August 29th, 2022, Maritime Launch announced that the company has satisfied the conditions related to the approval and construction … Read more

TSX Plunges on Day, Positive on Week

All the promise of recovery from the week before went a-glimmer when the closing bells rang Friday on both sides of the border.

The TSX Composite dropped 395.88 points, or 2.1%, to close Friday and the week at 18,583.13. Still, over the last five sessions, the TSX gained 139 points, or 0.75%.

The Canadian dollar inched up 0.06 cents to 72.77 cents U.S.

Markets in Canada will be shuttered Monday for Thanksgiving Day.

Health-care stocks took the most punishment, with Canopy Growth hurtling lower $1.33, or 25.8%, to $3.83, while Tilray lost $1.02, or 19%, to $4.35.

In tech stocks, Lightspeed Commerce tumbled $2.72, or 10%, to $24.36, while Telus International moved downward $2.90, or 7.8%, to $34.61.

In gold stocks, Iamgold gave up a dime, or 6.3%, to $1.48, while OceanaGold dipped 16 cents, or 6.9%, to $2.16.

On the economic slate, Statistics Canada says employment grew but 21,000 … Read more