TORONTO, April 23, 2024 (GLOBE NEWSWIRE) -- Equifax® Canada, a global data, analytics, and technology company, is committed to helping people live their financial best and to take steps to further financial inclusion for people in Canada with the continued support of rent reporting in credit scores.

Stocks surged higher on Thursday, with the S&P 500 index aiming to snap a four-day losing streak as investors assess the latest wave of corporate earnings. During midday trading in New York, all major indices were in the green. Notably, small caps, as tracked by the iShares Russell 2000 ETF (NYSE:IWM), outperformed, posting a 1% increase. Industry-wise, airline stocks continued their upward momentum, with the U.S. Global Jets ETF (NYSE:JETS) climbing 2.7%, building on Wednesday’s 3.9% surge. Tesla Inc. (NASDAQ:TSLA) had another lackluster session, declining over 3% and on track for its lowest close since January 2023. This decline followed Deutsche Bank’s downgrade of the EV-maker from Buy to Hold, citing concerns over the strategic pivot to autonomous vehicles. On the data front, the Philadelphia Fed Manufacturing Index posted ...Full story available on Benzinga.com

Fiverr's 9th Business Trends Index reveals that businesses are looking for solutions to elevate organizational performance and productivity

Wall Street can breathe a sigh of relief following the tense events on Saturday night, when Iran launched airstrikes against Israel. For now, the specter of escalation towards a larger conflict seems to have been mitigated, as both U.S. and U.K. allies have sternly cautioned Israeli Prime Minister Benjamin Netanyahu against any retaliatory actions towards Tehran. Major U.S. indices moved sideways in midday trading on Monday in New York, halting the significant losses recorded last Friday and the risks of a further extension following last Saturday’s heightened geopolitical tensions. The market sentiment was further bolstered by a retail sales report that significantly exceeded expectations, showing a 0.7% increase last month. However, this robust data slightly tempered ...Full story available on Benzinga.com

In a week already ablaze with market fervor sparked by inflation data surpassing expectations and prompting a jolting reassessment of Federal Reserve rate cut projections, Friday witnesses heightened volatility, fueled by escalating geopolitical tensions in the Middle East. Israel is bracing for an attack from Iran, which could occur within the next 48 hours or even earlier, according to various media sources. White House National Security Council spokesperson John Kirby stated that an Iranian attack on Israel poses a "real" and "viable" threat. According to the Times of Israel, Hezbollah has launched a rocket barrage into Northern Israel. Meanwhile, the USS Dwight Eisenhower aircraft carrier has sailed north through the Red Sea toward Israel in a show of deterrence from the Biden administration, as an attempt to intercept missiles and drones fired by Iran. Market volatility, as indicated by the CBOE VIX Index, experienced a sharp spike, with the fear gauge surging by 23%, marking the most significant daily increase since late April 2022 and surpassing the uptick observed during ...Full story available on Benzinga.com

The U.S. has accumulated a huge pile of debt, and this has raised an alarm among economists and the American public alike. Tesla CEO Elon Musk on Friday suggested a quick fix for the problem. What Happened: A X platform user shared the U.S. debt clock, which showed a staggering $34.65 trillion in outstanding dues owed by the U.S. government. “This can't be fixed. It's over,” the user captioned the post. Responding to the post, another user shared a reflective question: “Is there no turning back?” This can't be fixed. It's over. pic.twitter.com/25BfI9JbSR — Rothmus 🏴 (@Rothmus) April 12, 2024 Musk, who has previously commented on the precarious fiscal position of the U.S. joined in and said, “AI will solve this (slight chance of killing us).” Full story available on Benzinga.com

The latest April report on U.S. consumer confidence paints a bleak picture, showcasing a sharp decline in overall morale and a disturbing surge in inflation expectations among American consumers, according to data released Friday by the University of Michigan. "A slight uptick in inflation expectations in April reflects some frustration that the inflation slowdown may have stalled.” Surveys of Consumers Director Joanne Hsu, said. UMich Consumer Sentiment Report For March: Key Highlights The University of Michigan consumer sentiment index eased from 79.4 to 77.9 in April, missing expectations of 79. The sub-index for consumer expectations inched marginally down from 77.4 to 77, below the expected 77.6. The sub-index for current conditions fell from ...Full story available on Benzinga.com

The relief rally sparked by Thursday’s producer price index report is teetering on the edge. The mood has shifted back to cautiousness, with stock futures pointing towards a potential pullback in today’s final trading session of the week. Traders are meticulously analyzing each incoming piece of economic data to gauge the Federal Reserve’s next move. Upcoming consumer confidence data and speeches by Fed officials are likely to garner significant market interest. Big bank earnings released so far have triggered negative reactions, and this could cast a cloud on the upcoming reporting season and its impact on the market. Futures Performance On Thursday ( as of 6:30 a.m. EDT) Futures Performance (+/-) Nasdaq 100 -0.53% S&P 500 -0.43% Dow -0.27% R2K -0.52% In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.30% to $516.43, and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.43% to $443.45, according to Benzinga Pro data. Cues From Previous Session: Producer price data released on Thursday came in slightly lower than anticipated, initially triggering a knee-jerk negative reaction in the market. However, major averages reversed course later in the morning, steadily climbing before consolidating in late-day trading. The Nasdaq Composite and S&P 500 closed solidly higher, with the Nasdaq reaching a new closing high driven by strength in IT and communication services stocks. Conversely, the Dow Jones Industrial Average closed with a slight negative bias, marking its fourth consecutive down day.

Investors can breathe a sigh of relief on Thursday as last month’s Producer Price Index (PPI) inflation turned out slightly lower than expected, albeit with some caveats across different measures within the basket. Stocks rebounded by noon trading in New York, yet the surge fell short of recovering Wednesday’s losses, indicating lingering nervousness regarding the rate-path outlook. Traders have significantly adjusted their expectations for the Fed’s future actions in the past 24 hours, pushing the potential first-rate cut from June to September, with less than two cuts priced in by year-end. The tech-heavy Nasdaq 100 outperformed the broader market, up 1.2%, driven by a rally in the semiconductor industry, with Nvidia Corp. (NASDAQ:NVDA) surging 3.1% following a 2% increase the previous day. Treasury yields stayed flat in the short-end, while inching higher in the long-end of the curve, triggering further declines in long-dated Treasury bonds. The iShares 20+ Year Treasury Bond ETF ...Full story available on Benzinga.com

A bustling week of key economic events with two inflation reports will culminate in a flurry of earnings releases from top U.S. banks, offering crucial insights into the state of the economy and the health of U.S. consumers and firms. On Friday, investors will scrutinize the first-quarter financial results from major financial institutions such as JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co. (NYSE:WFC), BlackRock Inc. (NYSE:BLK), Citigroup Inc. (NYSE:C) and State Street Corp. (NYSE:STT). These earnings releases will pave the way for next week’s reports from Goldman Sachs Group Inc. (NYSE:GS) and Charles Schwab Corp. (NYSE:SCHW) on Monday, followed by Bank of America Corp. (NYSE:BAC) and Morgan Stanley (NYSE:MS) on Tuesday. What are the key expectations for first-quarter 2024 earnings reports from major U.S. banks? Q1 2024 Bank Earnings: What Market Consensus Expects According to the Benzinga Pro platform, the consensus among median Wall Street analysts are the following estimates for ...Full story available on Benzinga.com

American producers experienced a surge in price pressures last month, yet the increase was slightly below economist expectations, calming market concerns that spiked after a higher-than-anticipated consumer price inflation report on Wednesday. The Producer Price Index (PPI) climbed from 1.6% in February 2024 to 2.1% in March 2024, marking its highest annual rate since April 2023, albeit falling slightly short of the projected 2.2%. Meanwhile, the core PPI delivered a mixed picture, with a 0.2% monthly increase in line with forecasts, but a 2.4% annual rise, surpassing the expected 2.3%. Market reactions were mixed, with the SPDR S&P 500 ETF Trust (NYSE:SPY) flat for the day, and the tech-heavy Invesco QQQ Trust (NASDAQ:QQQ) rebounding 0.4%, after a 0.9% loss on Wednesday. What are the nuances of this PPI report, and what implications might it hold for future interest rates? Benzinga has compiled insightful reactions from economists, analysts, and market experts. PPI Doesn’t Shift The Fed Rate Outlook The Kobeissi Letter highlighted on social media platform X, formerly Twitter, that both the PPI and Consumer Price Index (CPI) inflation have risen steadily for two consecutive months, marking the first occurrence of such a trend since September 2023. This data ...Full story available on Benzinga.com

MCLEAN, Va., April 11, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.88 percent.

The Shockwave offer that DKI predicted in December happened this week with Johnson & Johnson (NYSE: JNJ)agreeing to pay $335 per share in cash. DKI subscribers celebrated! The PMI came in  hot. Don’t want to read the details? The conclusion is “higher for longer”. More insane calls by “experts” crying for lower interest rates in order to help homebuyers ignore the fact that  it was low rates that led to this particular housing bubble and the government “help” they  want will end up in the sellers’ pockets, not the buyers’ bank accounts. The Congressional  Budget Office projects US debt to GDP will be 166% 30 years from now. I’m prepared to make  a sizeable bet with anyone reading this that we hit that mark well before 2054. DKI Advisor  and real estate expert, Howard Freedland, contributes a guest “Thing” explaining the impact  of the new settlement on realtor commissions.  Plus, we have one big non-Thing. We’re not covering the new employment report out Friday  because the numbers are lies. We keep getting great reports which are then revised  downwards during the following months. Plus, all the new jobs are some combination of  government creations and more part-time work. Finally, there are reports that employment has been overstated by almost a million jobs. Reporting on that is an act of political advocacy,  not financial analysis.  This week, we’ll address the following topics:  - Shockwave Medical (NASDAQ: SWAV) gets the takeover offer. Definitive agreement announced. - The purchasing managers index (PMI) came in hot. Regular readers can prepare for a familiar conclusion.  - Economically illiterate people say silly things with great confidence. We’ll help you  identify the nonsense.  - The CBO releases projections that would be scary if correct. The good news is the projections are lies. The bad news is the CBO is being too optimistic.  - Want to know the impact of the change in realtor commissions on the real estate market. DKI Board Member and real estate expert, Howard Freedland, contributes a guest  “Thing”.  Ready for a new week of shocking information? Let’s dive in:  1) Shockwave Medical Being Acquired by Johnson & Johnson: Last week, DKI reported that Shockwave Medical was in takeover talks with Johnson &  Johnson. On Friday morning, the parties announced a definitive agreement. $JNJ is buying  $SWAV for $335 in cash. Another round of applause for cardiologist and DKI Board Member,  Dr. Paul Thompson and interventional cardiologist, Dr. Dan Fram, who were instrumental in suggesting the idea and explaining the medical implications of Shockwave’s devices. More than 70% in under 4 months. That worked out well.  DKI Takeaway: DKI recommended Shockwave Medical $SWAV to subscribers in December at  $190. Our positive thesis was based on an expected takeover for more than $300 per share.  Boston Scientific $BSX approached Shockwave last year. They could return to bid again, but  given that the $JNJ talks have been public for more than a week and that there’s now a  breakup fee, it’s possible but unlikely they re-enter the situation. DKI subscribers made more  than 70% in under four months. This is the second DKI portfolio company to be acquired  following Houghton Mifflin which was bought for more than 4x DKI’s initial purchase price. If  that’s of interest to you, you’re welcome to subscribe. Otherwise, we’ll be happy to keep  informing you after the fact.  2) Purchasing Managers Index Comes in Hot:  The ISM Purchasing Managers Index (PMI) came in high. ...Full story available on Benzinga.com

Inflation affecting American producers shows mixed readings in March, with the headline figure falling short of estimates Thursday while the underlying gauge exceeded them, maintaining market uncertainties about potential delays in interest rate cuts. The Producer Price Index (PPI) experienced a year-on-year increase of 2.1% last month, reaching its highest level in nearly a year. This followed the release of unexpectedly robust consumer inflation data on Wednesday, sending significant shockwaves across markets. March PPI Report: Key Highlights The headline PPI surged by 2.1% in March 2024 compared to the previous year, surpassing the previous annual rate of 1.6% and missing expectations of 2.2%. The month-on-month increase in the headline PPI was 0.2% in March, marking a deceleration ...Full story available on Benzinga.com

The S&P 500 Probably Isn't Going To Crash 50% Anytime Soon Raising the possibility of a 50% market crash always grabs attention, as does promoting the benefit of holding gold in a portfolio, as the title of Wealthion's recent Zero Hedge post does ("Will the S&P 500 Crash By 50%? How Gold Could Protect Your Portfolio"). I was all set to argue against the idea of a 50% market crash this year, but then I watched Wealthion's interview with market technician Chris Vermeulen, and it turns out he's not calling for that. I've set the video below to start at Vermeulen's global market prediction toward the end of the interview.  , It turns out Vermeulen isn't calling for a 50% drop in the market this year, which makes sense. The Fed not raising rates in spite of embedded inflation and the federal government running unprecedentedly large fiscal deficits are both inflationary, and stocks are inflating along with fast food worker salaries, Big Mac meals, and much else in our economy. Vermeulen sees the possibility of a 10% to 20% correction by the end of this year.  That seems possible in the following scenario. Let's say Trump wins the election in November, and then calls for major deficit reduction to rein in the inflation that got out of hand during Biden's tenure. That could send stocks down (and as far as Trump would be concerned, better to have stocks crash while he's still President-Elect than President).  Where Vermeulen sees the possibility of a stock market correction extending down to a 50% drop is in 2025. I guess it's possible, but I don't claim to have any ...Full story available on Benzinga.com

The March inflation report came in hotter than expected, stirring concerns among market participants and one section of the economists. Former Treasury Secretary Larry Summers, who is in “Team Persistent” when it comes to inflation, on Wednesday warned of the pitfalls of ignoring pricing pressure in the economy. Not A Surprise: “I was not hugely surprised by the numbers,” said Summers in an interview with Bloomberg. Consumer prices rose 0.4% month-over-month and 3.5% year-over-year in March, both coming in one-tenth of a percentage point above expectations. The core inflation came in at a monthly rate of 0.4% and annual rate of 3.8%. These were ahead of the 0.3% and 3.7% rates forecast by economists. “In an economy that was growing faster than potential, with an unemployment rate that has ...Full story available on Benzinga.com

Recent trade data has shown that the U.S. has now become the leading destination for Taiwanese exports, overtaking China. Recent trade data shows that the U.S. has become the leading destination for Taiwanese exports, overtaking China. What Happened: Taiwan’s exports to the U.S. increased by 65.7% year-on-year in March, totaling $9.1 billion. In contrast, exports to mainland China saw a modest increase of 6%, amounting to $7.9 billion. This is a marked change from the past, with China being the main recipient of Taiwanese exports since 2003, reported Bloomberg. The Finance Ministry in Taipei released the data on Wednesday, coinciding with a significant meeting between Chinese leader Xi Jinping and former Taiwan President Ma Ying-jeou. Despite the leaders emphasizing the close ties between the two sides of the strait, the trade data suggests a diverging narrative. See Also: Western Nations May Face $10 Trillion Defense Spending Surge Amid Russia-China Threat: Report This change in export destinations reflects ...Full story available on Benzinga.com

Minutes from the latest Federal Open Market Committee (FOMC) meeting in March underscore escalating uncertainties regarding the future of inflation among various Fed members, intensifying concerns about interest rates on a day marked by another unforeseen uptick in the consumer price index. March FOMC Minutes: Key Highlights Participants generally expressed uncertainty regarding the persistence of high inflation and conveyed the view that recent data “had not increased their confidence” in the sustained movement of inflation towards the 2% target. Some participants pointed out that the recent increases in inflation had been relatively widespread, indicating that they should not be dismissed as “merely statistical aberrations.” Several participants highlighted the strong labor market, ongoing wage gains, and generally healthy household-sector balance sheet as factors ...Full story available on Benzinga.com

An inflation surprise greeted investors on Wednesday, sparking significant apprehension about the future of interest rates. The discussion regarding Fed rate cuts seems to be postponed for the time being following a surge in the inflation rate to 3.5% in March 2024, surpassing estimates of a 3.4% increase. What’s even more concerning is that core inflation, which excludes volatile food and energy prices, remained steady at 3.8%, defying expectations of a decline to 3.7%. Many economists cautioned Wednesday there is no chance the Fed will reduce interest rates in June, with the likelihood of higher-for-longer interest rates gaining pace. Money markets are pricing in a 44-basis-point reduction in rates by year-end, with September being considered the most probable option for the onset of the easing cycle. Yet there are increasing risks that September could represent the sole reduction in 2024. By midday trading in New York, all major indices were in the red, with small caps underperforming large caps. Sector-wise, real estate stocks were the hardest hit, given their heightened sensitivity to interest rates. Yields on two-year Treasurys spiked by 20 basis points ...Full story available on Benzinga.com

To gain an edge, this is what you need to know today. Raise Cash It is time to increase cash by 4%. Hedges were recently raised. Please see the protection band section below. The bull market is intact, but the probability of a pullback has gone up. As full disclosure, the tentative plan for The Arora Report is to buy the pullback.   Hotter Inflation  Please click here for an enlarged version of the chart of SPDR S&P 500 ETF Trust (ARCA:SPY) which represents the benchmark stock market index S&P 500 (SPX). Note the following: The chart shows that the stock market has broken the upward sloping trendline that has defined the rally. The chart shows the Arora call to raise hedges prior to the drop. The chart shows the support zone from which the breakout occurred. The tentative plan is to buy if the stock market pulls back to the support zone. However, this will need to be adjusted – read the next point. The probability of the stock market pulling back to the support zone is less than 50%. The reason is that the buy the dip crowd is already aggressively buying the dip and is prepared to aggressively buy more.   The new data shows that inflation is hotter than expected. Here are the details: Headline CPI came at 0.4% vs. 0.3% consensus. Core CPI came at 0.4% vs. 0.3% consensus. As a reference, the new data equates to inflation at an annualized rate of 4.8%. The Fed’s target is 2%. In The Arora Report analysis, this time, the momo gurus are going to have difficulty persuading their followers to buy stocks. One reason is that momo gurus have been wrong at every step of the way this year.  Having said that, do not underestimate the cleverness of momo gurus to come up with a new narrative to persuade investors to buy stocks.  At the same time, do not underestimate the power of greed in the momo crowd. The momo crowd is very easy to influence because at best, the ...Full story available on Benzinga.com

Editor’s note: This story has been updated with additional details. Inflation in the United States surged again in March, surpassing economist expectations and disappointing investors who were anticipating imminent cuts in Federal Reserve interest rates. The annual inflation rate calculated on the Consumer Price Index (CPI) rose to 3.5% last month, according to Wednesday’s data from the Bureau of Labor Statistics. March Inflation Report: Key Figures The annual CPI inflation rate surged from 3.2% in February to 3.5% in March 2024, marking the second consecutive month of increase and exceeding expectations of a 3.4% surge. On a monthly basis, the CPI advanced at a pace of 0.4%, maintaining the momentum from the previous month and surpassing forecasts of 0.3%. The index for gasoline spiked by 1.7% on a monthly basis. On an annual basis, gasoline costs were 1.3% higher, sharply rising from the 3.9% ...Full story available on Benzinga.com

Amid a complex economic landscape, Fitch Ratings has adjusted its outlook on China’s creditworthiness, signaling caution over the nation’s fiscal health as it grapples with post-pandemic recovery efforts. What Happened: Fitch Ratings has revised its outlook on China’s sovereign credit rating to negative from stable while affirming an ‘A+’ rating, Reuters reported on Wednesday. The revision reflects concerns regarding China’s public finances amid prevailing economic uncertainties. The revision by Fitch follows a similar move by Moody’s in December. China is actively attempting to stimulate its economy, which has been sluggish in the aftermath of the COVID-19 pandemic, through various fiscal and monetary initiatives. “Fitch's outlook revision reflects the more challenging situation in China's public finance regarding the double whammy of decelerating growth and more debt,” said Gary Ng, a senior economist at Natixis in the Asia-Pacific region. Fitch predicts a substantial rise in China’s government debt, projecting it to reach 61.3% of GDP in 2024, up from 56.1% in 2023 and a significant leap from 38.5% in 2019. The agency also expects the general government deficit to widen to 7.1% of GDP in 2024, an increase from 5.8% in the previous year. See ...Full story available on Benzinga.com

Stock futures are all in the green early Wednesday as traders factor in tame March inflation data. A hotter-than-expected number may not result in a big pullback, given the recent consolidation, said value investor and New York University Professor Aswath Damodaran. If the data meets expectations or comes in tamer than expected, pent-up buying could result in positioning the market to retest its highs. Traders may also react to the Fed minutes due later in the day and a few Fed speeches. Futures Performance On Wednesday ( as of 6:30 a.m. EDT) Futures Performance (+/-) Nasdaq 100 -0.04% S&P 500 +0.03% Dow +0.12% R2K +0.01% In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged up 0.04% to $519.51, and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.01% to $442.17 according to Benzinga Pro data. Cues From Previous Session: Stocks went about in a lackluster manner on Tuesday, with the movement typical of a pre-inflation session. The major indices ignored a positive start and languished mostly below the unchanged. The pullback in bond yields helped nudge the indices higher in the final minutes of trading. While the Dow Industrials and the S&P 500 Index ended higher for the day, the Dow Industrials was marginally lower at the close, as interest-rate sensitive financial stocks ...Full story available on Benzinga.com

The highly anticipated consumer price index (CPI) report for March is due on Wednesday, and the data could cause market fluctuations due to its potential impact on near-term Federal Reserve interest rate decisions. Inflation Forecast: Economists generally predict a slight slowdown in the month-over-month inflation rate, with consumer prices and the core reading potentially rising by 0.3% in March compared to 0.4% in February. However, on a year-over-year basis, inflation is expected to pick up slightly, with an average forecast of 3.4% growth compared to 3.2% in February. The core annual rate, which excludes volatile food and energy prices, might show a slight decrease from 3.8% to 3.7%. Pretty Significant Event: Value investor and New York University Professor Aswath Damodaran said, “I am more worried than I was a couple of months ago..or even six weeks ago.” Although earnings estimates have been going up almost consistently over the past three months, inflation seemed to be much more stubborn than what people had factored in at the start of the year, he said in a CNBC interview. “So I think tomorrow’s [Wednesday’s] numbers are going to be pretty significant in where the market goes next, and to be quite honest, that’s where inflation goes the rest of the year,” the professor said. “It’s going to drive the market, not what the Fed does, [or] it does not do.” Damodaran said ...Full story available on Benzinga.com

A bond trader has just placed a record-breaking single bet by going long on December 2024 short-term interest rate futures. This strategy will pay off if the Federal Reserve cuts interest rates at least three times by the end of the year, a scenario that is not yet fully priced into the market following recent robust economic data and higher-than-expected inflation figures. The Secured Overnight Financing Rate (SOFR) futures — the tool used to assess market wagers on Fed interest rates — suggest that traders are anticipating a total of 68 basis points in rate cuts by the end of the year. What Happened: A significant transaction involving 75,000 December 2024 SOFR futures contracts through a block trade occurred shortly after 9 ...Full story available on Benzinga.com

All eyes will be on March's CPI numbers due Wednesday morning at 8:30am ET, which should give economists and investors a better idea of if inflation is picking up or falling closer to the Federal Reserve's 2% target rate. Scott Redler, Chief Trading Strategist at T3 Trading Group, joined Benzinga's PreMarket Prep Tuesday morning to discuss market trends ahead of the report.Redler outlined his charts, which he does every morning in his trading room, and expressed caution ahead of Wednesday's report. Redler explained that a lot of this year's market leaders, like NVIDIA Corp (NASDAQ:NVDA), Super Micro Computer (NASDAQ:SMCI) and other semiconductor names, have been losing steam.

MILWAUKEE, April 09, 2024 (GLOBE NEWSWIRE) -- Artisan Partners Asset Management Inc. (NYSE: APAM) today reported that its preliminary assets under management ("AUM") as of March 31, 2024 totaled $160.4 billion. Artisan Funds and Artisan Global Funds accounted for $77.4 billion of total firm AUM, while separate accounts and other AUM1 accounted for $83.0 billion.

Village Farms International, Inc. (NASDAQ:VFF) has successfully navigated its way back into compliance with NASDAQ’s minimum bid price requirement. The stock exchange has confirmed that Village Farms rectified its previous listing deficiencies by maintaining a minimum closing bid price of $1.00 per share, effectively closing the chapter on this regulatory hurdle. Journey To Compliance This achievement follows a critical period of financial scrutiny which began when the NASDAQ granted the company a 180-day extension on October 18, 2023, to meet the minimum bid price requirement. This lifeline for VFF, allowed the company until April 15, 2024, to demonstrate its financial viability and operational strength. Throughout this period, Village Farms’ shares continued to trade on the NASDAQ Capital Market, ...Full story available on Benzinga.com

Investors’ eyes are eagerly fixed on the March inflation data set to be released by the Bureau of Labor Statistics on Wednesday. According to the consensus among economists, the annual Consumer Price Index (CPI) inflation rate for March is expected to rise to 3.4%, up from the previous 3.2%, while core inflation, which excludes energy and food items, is anticipated to ease slightly from 3.8% to 3.7%. Both monthly readings are projected at 0.3%, a slight deceleration compared to the 0.4% observed in February. Wells Fargo sits at the high end of the forecast range, predicting a headline rate of 3.5% and a core rate of 3.8%. The robustness of headline figures is attributed, in part, to the uptick in gasoline prices, with expectations of a strengthening in food inflation as well. Analysts at Wells Fargo anticipate March’s report will reveal hints of two inflation dynamics: early-year noise and a longer journey of inflation back to the Fed’s ...Full story available on Benzinga.com

Stocks edged lower during midday trading on Tuesday as traders maintained a cautious stance in anticipation of the highly awaited Consumer Price Index (CPI) report scheduled for Wednesday, which could offer crucial insights into the potential course of actions by the Fed. The consensus expectation among Wall Street analysts is that the annual CPI rate to edge slightly higher from 3.2% to 3.4% in March, mainly due to rising gasoline prices. Core inflation, which excludes food and energy items, is anticipated to inch lower, from 3.8% to 3.7%. The S&P 500 index declined by 0.2%, dragged down by financials, industrials, and energy stocks, while the tech sector remained flat. The Dow lost 0.4%, while small caps managed to inch 0.1% higher. Treasury yields moved slightly lower amid rising demand for bonds, with the iShares 20+ ...Full story available on Benzinga.com

Gold prices are projected to jump to $3,000 per ounce by 2025, according to Bank of America, buoyed by strong demand from central banks and the anticipation of investors returning to the market once the Federal Reserve begins to slash interest rates. Michael Widmer, the bank’s commodity strategist, highlighted gold’s resilience as central banks tighten monetary policies. “Gold prices have been remarkably resilient in recent months, notwithstanding central banks around the world tightening monetary policy,” said Widmer. The Chinese central bank, in particular, has played a significant role in supporting the gold market, amassing over $200 tonnes of the yellow metal in 2023 alone. This elevated buying also depends on the heightened activity in China’s retail sector, with jewelry sales and non-monetary gold imports “hitting record highs earlier this year.”  “If the Fed ultimately starts cutting rates, investors should return to the market, also offsetting potentially lower Chinese investment demand as sentiment there improves and ...Full story available on Benzinga.com

Traders are bracing for a lackluster Tuesday, going by weak stock futures, as they navigate conflicting signals. Though lower bond yields could be encouraging, rising commodity prices may dampen sentiment ahead of Wednesday’s crucial inflation report. Analysts remain optimistic about corporate profits despite the market’s sideways movement. LPL Financial‘s Jeffrey Buchbinder predicts a 3-4% upside to current estimates, potentially pushing S&P 500 earnings growth to about 6% for the quarter. He attributes this growth to strong economic momentum and AI investment. Futures Performance On Tuesday ( as of 6:30 a.m. EDT) Futures Performance (+/-) Nasdaq 100 -0.08% S&P 500 -0.02% Dow -0.05% R2K -0.05% In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.05% to $518.45, and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.09% to $440.21 according to Benzinga Pro data. Cues From Previous Session: U.S. stocks went about in a lackluster fashion on Monday before closing mixed as elevated bond yields kept traders nervy about interest rates. While the tech-heavy Nasdaq Composite ended marginally higher, the broader S&P 500 Index and the 30-stock blue-chip average, the Dow Jones Industrial Average, settled marginally lower for the session. Small-caps ...Full story available on Benzinga.com

The CEO of Galaxy Investment Partners, Mike Novogratz, has voiced his concerns over the potential implications of a rate cut by the Federal Reserve on cryptocurrency and precious metals. What Happened: Novogratz on X, formerly known as Twitter wrote, “Call me crazy but I don't see one good reason for the fed to cut rates. Yet think they will. It's a great set up for $BTC, gold, silver, copper. It's not a great set up for the USA though. We need a politician who will cut spending dramatically! Sound of silence from DC….” Call me crazy but I don't see one good reason for the fed to cut rates. Yet think they will. It's a great set up for $BTC, gold, silver, copper. It's not a great set up for the USA though. We need a politician who will cut spending dramatically! Sound of silence… — Mike Novogratz ...Full story available on Benzinga.com

This week’s market spotlight is squarely fixed on the eagerly awaited Consumer Price Index (CPI) report for March, scheduled for release on Wednesday at 8:30 a.m. EST. Following two consecutive months of higher-than-expected inflation reports, which have tempered market expectations for Federal Reserve rate cuts in 2024, investors are on edge, anxiously awaiting the latest inflation figures. Presently, market-implied probabilities indicate an almost equal likelihood of either a rate cut or a hold in June, with the March inflation data potentially playing a pivotal role in tipping the scales one way or the other. What Do Economists Expect? The consensus among economists is expected the annual CPI inflation rate to edge higher from 3.2% in February to 3.4% in March. The monthly CPI inflation is forecasted to show a 0.3% surge, slightly decelerating from February’s 0.4% pace. The annual ‘core’ CPI inflation rate, which excludes volatile food and energy items, is seen easing from 3.8% ...Full story available on Benzinga.com

It’s a lackluster trading session on Wall Street, with the main indices experiencing slight declines as traders adopt a cautious stance ahead of a data-heavy week. The spotlight will be on Wednesday’s release of March inflation data, with consensus among economists anticipating another uptick in the annual inflation rate from 3.2% to 3.4%, potentially causing further turbulence in expectations regarding imminent Fed rate cuts. According to the CME Group Fed watch tool, there is currently nearly a 50-50 chance between a hold and a cut in June. The S&P 500, Dow Jones, and Nasdaq 100 showed little movement at midday trading in New York, while small caps managed to inch higher. In the bond market, Treasury yields continued to rise, with the 30-year yield surpassing 4.55%, on track to close at the highest level since late November 2023. Concurrently, the iShares 20+ Year Treasury ...Full story available on Benzinga.com

Jamie Dimon, chairman and CEO of JPMorgan Chase & Co. (NYSE:JPM), remains concerned about stickier inflationary pressures and higher interest rates than investors currently expect. What Happened: In his latest shareholder letter, Dimon identified several inflationary factors including the need for increased spending, the shift towards a greener economy, the restructuring of global supply chains, heightened military expenditures, and rising healthcare costs. Dimon’s letter also cited the ongoing conflicts in the Middle East and Ukraine, increasing terrorist threats, and escalating tensions with China. Despite these challenges, Dimon praised the U.S. economy’s resiliency, underscored by robust consumer spending. However, he remains skeptical regarding the prevalent market optimism for a soft economic landing. “Markets seem to be pricing in at a 70% to 80% chance of a soft landing — modest growth along with declining inflation and interest rates. I believe the odds are a lot lower than that,” he said. Dimon claimed that the company is ready for a wide spectrum of interest rate scenarios, ranging from 2% to 8% or possibly higher, ...Full story available on Benzinga.com

TORONTO—It looks like the good mood among gold miners at last month's Prospectors & Developers Association of Canada gathering was warranted. Gold prices notched another record above $2,300 on Friday, roughly a month after thousands of mining executives, analysts, financiers and investment bankers gathered in Toronto for the yearly conference and trade show. At that time, gold was trading around $2,100 but was on its way higher amid expectations that the Federal Reserve will lower interest rates. Lower rates make non-interest-bearing gold more attractive. The precious metal has also gained ground amid worries over China's economy and tensions surrounding the war in Ukraine and the escalating conflict in the Middle East. Gold is often considered a safe haven in times of economic or political uncertainty. Although gold mining stocks in general have been gaining ground, the industry is still lagging because of higher production costs. This suggests that if gold prices remain higher, mining stocks may play catch up, especially if inflationary pressures ease. Gold prices are up around 13% so far this year, but as of Friday’s close the VanEck Gold Miners ETF (NYSE:GDX) was up less than 11%. The VanEck Junior Gold Miners ETF (NYSE:GDXJ) is closer, with a 12.55% gain. Also Read: Global Mining Industry Faces ‘Trust Deficit’ Despite Being Asked To Produce More Metals For Energy Transition During the Toronto trade show in early March, gold mining companies were already celebrating gold's ascent as they pitched investors. They're undoubtedly celebrating more now. Here are some thoughts from their pitches. Alamos Gold Inc. (NYSE:AGI): The presentation from Scott Parsons, senior vice president of investor relations for intermediate gold producer Alamos Gold seemed particularly prescient. As he was speaking, gold was just shy ...Full story available on Benzinga.com

In light of the economic pressures on low-income households, leading food corporations are revamping their product lines and marketing strategies. This pivot aims to accommodate the changing spending habits as consumers face financial constraints. What Happened: Companies such as Kraft Heinz (NASDAQ:KHC) and Conagra Brands (NYSE:CAG) are altering their offerings in response to the decreased spending by Americans dependent on government assistance, Reuters reported on Monday. These changes are a reaction to the persistent price increases over recent years. Low-income consumers, typically earning below $35,000 a year, are now more inclined to cook from scratch or reduce their purchases, affecting sales volumes for major food and beverage producers. Dollar Tree (NASDAQ:DLTR) CEO Richard Dreiling emphasized the difficulties posed by reduced SNAP benefits during a recent earnings call. At Circle K stores, part of Alimentation Couche-Tard (TSX:ATD), there has been a notable 40% decline in food stamp sales year-over-year, as stated by CEO Brian Hannasch. Conagra is set to introduce budget-friendly Banquet chicken patties in late May, marking a departure from the premium-centric approach prevalent during the pandemic. Now food companies must "make sure they are attracting the value buyer back into the fold," said Duleep Rodrigo, U.S. consumer ...Full story available on Benzinga.com

In a significant development in the energy sector, Iraq is set to reactivate a previously dormant pipeline to Turkey, which could substantially impact regional oil exports and negotiations. What Happened: Iraq is reviving a pipeline to Turkey, potentially exporting 350,000 barrels per day by month’s end, Reuters reported on Sunday. This move comes amid stalled negotiations with the Kurdistan Regional Government (KRG). The Kirkuk-Ceyhan pipeline, inactive for a decade, offers an alternative to the KRG’s pipeline, which has been closed for a year. Baghdad views the KRG’s oil deals with foreign companies as illegal and demands that companies negotiate with the federal government for oil sales through the revived pipeline. Islamic State attacks halted the pipeline’s operations in 2014. It was responsible for about 0.5% of the world’s oil supply. “Major crude pumping station with storage facilities has been completed,” said Basim Mohammed,  Iraqi deputy oil minister for upstream affairs, indicating the pipeline’s readiness to restart flows soon. After an arbitration court ruling last year, the KRG’s pipeline was shut down, citing treaty violations. Discussions to ...Full story available on Benzinga.com

U.S. stocks are expected to open lower on Monday, reversing the gains made on Friday. This shift in sentiment is likely due to rising bond yields ahead of Wednesday’s key inflation report. The CBOE Volatility Index (VIX), a measure of investor anxiety, also rose sharply and currently sits above 16. While the recent market weakness may entice some investors to buy the dip, many may choose to wait until after Wednesday’s inflation reports for more clarity. These reports, along with a regional Federal Reserve consumer expectations survey and scheduled Fed speeches, will be closely watched by investors this week. Futures Performance On Monday ( as of 6:20 a.m. EDT) Futures Performance (+/-) Nasdaq 100 -0.12% S&P 500 -0.15% Dow -0.08% R2K -0.27% In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.04% to $518.12, and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.03% to $440.34 according to Benzinga Pro data. Cues From Last Week: Strong economic data and comments from Fed officials that poured cold water on rate-cut expectations triggered weakness in the week ended April 5. Curiously enough, stronger-than-expected payroll gains for March were largely ignored by traders on Friday as they piled back into stocks, taking advantage of the ...Full story available on Benzinga.com

The non-farm payrolls report released last week revealed a robust addition of 303,000 jobs to the U.S. economy in March. However, Ark Investment Management founder Cathie Wood expressed concerns regarding two labor market trends highlighted by economists. Low-Quality Job Gains: Economist Marko Bjegovic, founder of Arkomina Research, pointed out that private payrolls and total non-farm payrolls have mostly been revised down over the past 14 months since January 2023, while government jobs saw upward revisions. He noted that the government sector added 903,000 jobs since January 2023, one of the largest increases on record. However, he cautioned that an increase in government jobs might not necessarily be beneficial for the economy. Bjegovic also highlighted discrepancies between establishment survey employment, which increased by 2.927 million in the last 12 months, and household survey employment, which saw a more modest rise of 642,000. He emphasized that full-time employment decreased significantly by 1.347 million, with all job gains coming from part-time positions. “NFP figures have been strong but UR and other parts of the household survey tell a different (recessionary) story,” Bjegovic said. Commenting on ...Full story available on Benzinga.com

The stock market largely took a stronger-than-expected March job report in stride, but an economist warned on Friday that the data could dampen hopes of rate cuts. Neutral Rates: The U.S. payrolls gain in March suggests the economy is re-accelerating, said former Treasury Secretary Lawrence Summers in a Bloomberg interview last week. Considering other factors such as the “epic” loosening in financial conditions, “it seems to me the evidence is overwhelming that the neutral rate is far higher than the Fed supposes,” he said. A neutral monetary policy rate is one which is neither stimulatory nor restrictive to growth. The median estimate for the neutral policy rate issued by Fed officials following the March meeting was 2.6%, while Summers estimated it be at 4% or higher. The Fed funds rate is currently at a 22-year high of 5.25%-5.50%. Summers, a professor at Harvard University, suggested that the ...Full story available on Benzinga.com

As the weekend comes to a close, let’s take a look at the top stories that shaped the week. From the U.S. manufacturing sector hitting an 18-month high to a warning about a potential debt crisis, here’s what you need to know. US Manufacturing Activity Hits 18-Month High The U.S. manufacturing sector has seen a significant upturn, with March 2024 marking the highest growth rate since September 2022. This development has been attributed to the strong performance of the SPDR Dow Jones Industrial Average ETF (NYSE:DIA) and the SPDR S&P 500 (NYSE:SPY). Analysts had predicted a lower growth rate, making this surge a clear indication of improving conditions. Read the full article here. China’s March Manufacturing Growth Could Trigger Deflation China’s manufacturing sector experienced a substantial increase in March 2024. This led to a rally in shares of Chinese companies and metal commodities, potentially causing a deflationary impact on global markets. The Alibaba Gr Holding (NYSE:BABA) and the VanEck Gold Miners ETF (NYSE:GDX) were among the beneficiaries of this growth. Experts have warned that this surge could have a deflationary effect on global markets. Read the full article here. See Also: Wall Street Set To Stumble At Open ...Full story available on Benzinga.com

Remarks from Federal Reserve officials alongside new economic data significantly shaped investor sentiment over the last week. The U.S. economy continues to demonstrate resilience, with the manufacturing sector returning to expansion after 16 months of contraction and the labor market adding 303,000 new jobs in March, surpassing economist expectations. Buoyed by this positive economic momentum, recent public statements from Federal Reserve officials have tempered expectations of an imminent interest rate cut, with Fed governors reiterating the need to see more positive data on disinflation. Wall Street saw a varied performance this week, with uncertainty regarding monetary policy taking the spotlight. Energy stocks, as tracked by the Energy Select Sector SPDR Fund (NYSE:XLE), notably stood out as oil prices surged to their ...Full story available on Benzinga.com

To gain an edge, this is what you need to know today. Hot Jobs Report Please click here for an enlarged version of the chart of SPDR S&P 500 ETF Trust (NYSEARCA:SPY) which represents the benchmark stock market index S&P 500 (SPX). Note the following: The chart shows that the stock market has broken below the upward sloping trendline. The chart shows that was a perfect setup for the stock market to drop yesterday when Israel went on high alert due to the prospect of Iranian retaliation.   As is their pattern, the momo crowd was buying stocks this morning ahead of the mother of all numbers, the jobs report, on hope strategy. Jobs report came much hotter than expected. Here are the details: Non-farm payrolls came at 303K vs 200K consensus.  This indicates that the economy is strong and a large number of new jobs are being created.  The vast majority of these jobs are at the low end such as in hospitality. Jobs remain weak in information technology as more workers are replaced by AI. Nonfarm private payrolls came at 232K vs 160K consensus.  This indicates that there is no need to cut interest rates at this time. Unemployment rate came at 3.8% vs 3.8% consensus.  The unemployment rate remains low. Average hourly earnings came at 0.3% vs 0.3% consensus.  This indicates that reducing inflation from here will be difficult. Average work week came at 34.4 vs 34.3 consensus. The stock market briefly lost the gains but the momo crowd aggressively bought the dip. In The Arora Report analysis, the hot jobs report is reducing the probability of rate cuts starting in June.  Keep in mind that momo gurus claim to know for sure that rate cuts will start in June.  You may remember that the same momo gurus knew for sure that there would be six rate cuts this year starting in March.  Clearly, momo gurus have been wrong.  However, prudent investors need to understand that momo gurus ...Full story available on Benzinga.com

It’s a day of broad-based rallies on Wall Street, with both stocks and commodities showcasing robust performances in the wake of a hotter-than-expected labor market report, seemingly unfazed by growing fears over delays in the Federal Reserve’s rate cut plans. In March, the U.S. economy added 303,000 new employees, the highest level since May 2023, and well above the expected 200,000, the Bureau of Labor Statistics reported Friday. Yet, annual wage growth eased as expected, partially alleviating inflationary fears. Traders have adjusted their expectations for a Federal Reserve rate cut in June downwards, with money market pricing currently suggesting nearly a 50-50 probability between a rate cut and maintaining rates steady, according to the CME Group Fed Watch. The S&P 500 soared 1.3%, rebounding after Thursday’s 1.2% decline. The tech-heavy Nasdaq 100 rallied 1.7%, after losing 1.6% a day earlier, and ...Full story available on Benzinga.com

Demand for copper from the energy transition may eventually help the red metal diverge from other industrial commodities that are often seen as economic bellwethers. As the energy transition from fossil fuels to renewables gains steam, copper's role as a leading economic indicator may decouple somewhat from aluminum and zinc, Eric Saderholm, managing director of exploration with American Pacific Mining Corp. (OTC:USGDF), told Benzinga. Copper, aluminum and zinc are gauges of the world economy because they are used in a vast array of products manufactured and shipped around the globe, said Saderholm, whose company is a precious and base metals explorer and developer with projects in Alaska, Montana and Nevada. "However, copper is the most important of these metals, serving as an economic bellwether and as the most fundamental in industrialization due to its role in electrification," he said. "Without copper, our planet slowly grinds to a halt." Also Read: Will Copper Reach $10,000? ‘An Essential Metal That Faces An Uncertain Future’ Over ...Full story available on Benzinga.com