Canada’s economy grew in April, with growth expected to continue in May – Yahoo Canada Finance

Reuters

US inflation cools in May; consumer spending rises moderately

U.S. prices were unchanged in May while consumer spending rose moderately, a trend that could draw the Federal Reserve closer to start cutting interest rates this year. The flat reading in the personal consumption expenditures (PCE) price index last month followed an unrevised 0.3% gain in April, the Commerce Department’s Bureau of Economic Analysis said on Friday. In the 12 months through May, the PCE price index increased 2.6% after advancing 2.7% in April.

Reuters

Trump Media shares climb after Biden’s faltering show in first presidential debate

Biden’s allies scrambled to contain the fallout from his shaky performance after he struggled to stem a barrage of attacks and false claims from Trump. Shares of Trump Media & Technology Group (TMTG), which owns Trump’s social media platform Truth Social, was last up 5.5% at $38.62, while software developer Phunware, which worked on Trump’s 2020 election campaign app, climbed 1.6% to $6.4.

Yahoo Finance Video

Trump Media stock climbs post-debate, PCE data: Yahoo Finance

Markets (^DJI, ^IXIC, ^GSPC) are reacting to the latest Personal Consumption Expenditure (PCE) report released this morning. Investors are looking to the data for insights into the economy’s health and potential Federal Reserve rate decisions. Meanwhile, Trump Media & Technology (DJT) shares are up following last night’s presidential debate. Yahoo Finance’s trending tickers include Nokia Oyj (NOKIA.HE), Chewy, Inc. (CHWY), and Palantir Technologies (PLTR). Key guests include:9:10 a.m. ET Jennifer Lee BMO Senior Economist and Managing Director9:45 a.m. ET Amanda O’Neill, Consumer Products Director, S&P Global Ratings10:50 a.m. ET  Clayton Allen, Eurasia Group Director United States11:05 a.m. ET Michael Green, Simplify Asset Management Chief Strategist11:30 a.m. ET Daryl Fairweather, Redfin Chief Economist

Yahoo Finance Video

Hidden gems in tech that investors need to know: Opening Bid

While tech giants such as Apple (AAPL), Microsoft (MSFT), Alphabet’s Google (GOOG, GOOGL), Meta (META), Amazon (AMZN) and Nvidia (NVDA) dominate markets, a new group of innovative tech companies is emerging, set to capitalize on the AI trade. This episode explores the untapped potential of lesser-known firms such as Hubspot (HUBS) and Micron (MU) that can stand with the likes of the tech sector’s biggest contenders. Today on Opening Bid, Yahoo Finance Executive Editor Brian Sozzi sat down with Goldman Sachs Asset Management portfolio manager Brook Dane to discuss identifying high-potential tech investments amid market hype, strategies for navigating the tech sector during an election year, while evaluating which up-and-coming names are best positioned to thrive in the AI-driven future. This post was written by Angel Smith

Reuters

Canada’s economy expands 0.3% in April; another gain seen in May

OTTAWA (Reuters) -Canada’s gross domestic product increased 0.3% in April, matching market expectations, as growth rebounded in sectors including wholesale trade and manufacturing, and the economy likely expanded further in May, data showed on Friday. Analysts polled by Reuters had forecast 0.3% GDP growth in the month, after growth stalled in March. The growth in April, fastest since the 0.5% clocked in January, was driven by rebounds in wholesale trade, mining, quarrying, and oil and gas extraction and manufacturing sectors, Statistics Canada said.

Bloomberg

Polestar Loss Deepens to $1.46 Billion Amid Slowing Demand

(Bloomberg) — Polestar Automotive Holding UK Plc reported deepening losses for last year as the EV maker faced weaker demand amid organizational challenges that delayed its earnings report. Most Read from BloombergBiden’s Disastrous Debate Accelerates Doubts Over CandidacyDemocrats Question Replacing Biden: Here’s How It Could WorkBiden Struggles as He Spars With Trump on Economy: Debate TakeawaysGavin Newsom Is Ready for the Biden EmergencyBiden Struggles Against Trump in High-Stakes 2024 Deba

The Motley Fool

2 Top REITs in Canada for Trustworthy Dividends

H&R REIT (TSX:HR.UN) and another top play for income investors seeking huge yields. The post 2 Top REITs in Canada for Trustworthy Dividends appeared first on The Motley Fool Canada.

Reuters

Aircraft delivery delays having ‘brutal’ impact on Lufthansa, says CEO

Speaking at the business press club in Stuttgart late Thursday, Spohr said the aircraft shortage could be costing Lufthansa some 500 million euros ($535.00 million) a year, although he did not provide an exact figure. Lufthansa has ordered 250 new aircraft from Airbus and Boeing to modernize its fleet, with deliveries scheduled between 2024 and 2029. However, “no plane arrives on time,” said Spohr, adding that around 100 of Lufthansa’s 750 aircraft were grounded either for maintenance reasons or because they had been decommissioned.

Bloomberg

Junior Bankers Log 100-Hour Weeks Again, And Tensions Are Rising

(Bloomberg) — To see the stress mounting again on Wall Street’s junior bankers, just look a half-rung higher, at staffers.Most Read from BloombergBiden’s Disastrous Debate Accelerates Doubts Over CandidacyDemocrats Question Replacing Biden: Here’s How It Could WorkBiden Struggles as He Spars With Trump on Economy: Debate TakeawaysGavin Newsom Is Ready for the Biden EmergencyBiden Struggles Against Trump in High-Stakes 2024 DebateNot staff, as in employees, but staffers, the unheralded deputy ma