DOCSLIB.ORG

Finance Recruit: Careers in Banking

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Finance Recruit: Careers in Banking Finance Recruit: Careers in Banking Financial Planner / Investment Advisor (from CMC’s “Careers in Business” Guide) Financial Planning and Investing The terms “Financial Planner” and “Financial Advisor” will be used interchangeably, although the meaning of these titles can vary somewhat from one financial services setting to another. Financial Planners work with clients to plan and achieve certain financial goals. Financial Planners offer a variety of services such as analyzing client assets, liabilities and cash flow, current insurance coverage, investments, or tax strategies. After recommendations have been set by the planner they will either follow through or coordinate the process between the client and other professionals like attorneys. Depending how long the relationship lasts, Financial Planners usually meet with clients yearly or after any life changes like marriage, disability, or retirement. Much of a personal financial advisor’s time is taken up by marketing, as it is very important to build a strong client base by word of mouth referrals. Planners have to make sales calls, and some even give seminars or lectures to potential clients to market their services and expertise. Financial Advisors can either work for financial services firms or independently. They can also specialize in a number of areas such as retirement and estate planning or risk management. To work as a Financial Advisor, a bachelor’s degree in accounting, finance, economics, business, mathematics, or law is recommended. In Canada, Financial Planners also need certain credentials such as the Canadian Securities Course (CSC) and Personal Financial Planner (PFP), which are administered through the Canadian Securities Institute. Another useful credential is the Certified Financial Planner (CFP), which is administered by the Certified Financial Planner Board of Standards, and requires a bachelor’s degree, three years of relevant experience, passing an examination, and adherence to the organization’s code of ethics. There are also Investment Advisors, who advise clients about which individual securities to invest in. They earn their fees on a commission basis: for every purchase or sale they make, the brokerage house with which they work charges a fee and pays them part of that fee. Given that Investment Advisors work on commission, people sometimes fear that they put "making the sale" above the client's best interest (of course, if they "churn" clients' accounts - that is, make trades for no good reason - they are in violation of provincial securities regulations and are operating against their long-term interests since they depend on referrals for new business). Given that Financial Planners and Investment Advisors are in a position to either help or hurt clients dramatically, and they labour against the suspicion that they may really be serving their own interests first, they need exceptionally good interpersonal skills. Gaining clients' trust is critical for retaining them as customers and obtaining new referrals from them. Because their clients are not highly skilled investors with whom institutional securities salespeople interact, it is particularly important that Financial Planners and Investment Advisors know how to communicate information well. Also, given that clients can sometimes become very emotional when it comes to their own money, Financial Planners and Investment Advisors must be able to navigate their relationships with customers in a sensitive and diplomatic manner. Finance Recruit: Careers in Banking Financial Planner / Investment Advisor (from CareerLeader) Careers in financial planning and stock brokerage cover a wide range of activities. Professionals in these arenas include: retail stock brokers who sell stocks, bonds, and other investment instruments to individual clients independent financial planners who help clients decide how much life insurance they should have, what kinds of mutual funds they should invest in, how much they should save for retirement and their children's education, etc. personal investment managers who make investment decisions on behalf of clients whose funds they manage (including trust-fund accounts) private bankers, or private client-services providers Financial planning and stock brokerage differ in: the training and legal licensing they require the breadth and depth of their responsibilities their compensation methods However, they share a focus on managing the finances of individual clients. This focus contrasts with that of investment fund managers, who make investment decisions for entire groups of people (such as investors in a mutual fund, or employees who have retirement funds). As such, financial planning and stock brokerage are professional service businesses, like medicine or law. Financial planners help clients make decisions about long-term financial issues. They typically charge an hourly or flat fee -- though some who offer advice regarding mutual funds charge a percentage of the assets a client has invested. Stock brokers advise clients about which individual stocks and bonds to invest in. They earn their fees on a commission basis. For every purchase or sale they make, the brokerage house they work with charges a fee and pays them part of that fee. Because brokers work on commission, people sometimes fear that they put "the sale" above their clients' best interest. Of course, if brokers "churn" client accounts -- that is, make trades for no good reason other than to earn commissions -- they violate Securities and Exchange Commission regulations. They also operate against their own long-term interests, since they depend on referrals for new business. Personal investment managers are compensated based on the amount of money they manage (their "assets under management"). As a result, they have no reason to make trades that might not be in their clients' best interest. On the other hand, since they earn a percentage of client assets regardless of how well they manage those investments, some clients worry that there's no incentive for these managers to work as hard as they can. Financial planners and stock brokers need extraordinary interpersonal skills for several reasons: They're in a position to help or hurt clients dramatically. Their clients are always suspicious that they may be serving their own interests first. Their clients aren't highly skilled investors, and may become very emotional when making decisions about their own money. Finance Recruit: Careers in Banking Therefore, to keep existing customers and get new referrals from them, professionals in this field have to win their clients' trust. They can do so by communicating complex information clearly to clients, and by using sensitivity and diplomacy in navigating their relationships with customers. INTERESTS The key factor for a career in Financial Planning and Stock Brokerage is a high interest in Quantitative Analysis (compared to other Business Core Interests). Most satisfied, successful business professionals working in this career hold this as a very strong interest. If your interest is relatively weak, this is likely to present a problem. One of the reasons these professionals chose this career -- and are successful and satisfied in it -- is precisely because it matches their interests. Financial planners and stockbrokers will also have an interest in Influencing Others. In working with individual investors, these professionals have to constantly focus on building and maintaining relationships with their clients. In some careers, becoming a "rainmaker" and bringing in new clients is the key to success at more senior levels (for example, management consulting and law). But, to succeed in a career in Financial Planning and Stock Brokerage, you have to be a rainmaker from the beginning. If this is a strong interest, this is a part of the career you will enjoy. If it is not, you have to be willing to do it anyway. People who underestimate the importance of "sales" in this career, or who are simply not willing to accept that it is a critically important part of their job, will not succeed. Enterprise Control will be an interest for some people in this career -- specifically, people who are drawn to it out of a sense that as financial planners and stock brokers, they are essentially entrepreneurs running their own businesses. Finally, Coaching and Mentoring is a strong interest for some. In their role as trusted advisors, these professionals learn a great deal about their clients' lives, concerns, ambitions, dreams, and fears, and tailor their recommendations to each clients' unique needs. MOTIVATORS The ways people are rewarded in this, or any other career, can vary greatly from company to company, group (within the organization) to group, even manager to manager. Like what is required of you, the rewards you are likely to get early in your career are likely to be different in your mid- or later career years (and not only in pure compensation). In addition, how people define rewards differs - and sometimes dramatically, from person to person. One person's "exceptional financial reward" (Financial Gain) may make another cringe, and turn away. One person's good Lifestyle means no travel, no weekends, and no evenings. While another's good Lifestyle means no travel on weekends, home by 10:00, and weekend work mostly being done from home. These are the rewards that are, by most people's definition, generally found in this career. But, remember to take into account how you define each of the motivators CareerLeader
Load more

Recommended publications
  • CIBC Smart Plus Account Fee Rebate Terms and Conditions
    December 2019 Page 1 of 3 CIBC Smart™ Plus Account Fee Rebate Terms and conditions We will automatically rebate the monthly account fee for the month in which you open or convert to your first CIBC Smart Plus Account and for the next two months after that, even if you do not meet any of the eligibility conditions during this three month period. This three month fee rebate does not apply to any subsequent CIBC Smart Plus Accounts opened by you alone or jointly. Below explains how you can earn an on-going monthly fee rebate. Eligibility To benefit from the CIBC Smart Plus Account fee rebate, the following conditions must be met each month: • Your CIBC Smart Plus Account must be open at the time the fee rebate is applied; and • Maintain a minimum balance of: • $6,000 at the end of each day during the month in your CIBC Smart Plus Account to rebate the monthly fee on that account; or • $100,0001 of Savings and Investments (see definition and calculation below) at the end of each day during the month to rebate the monthly fee on one CIBC Smart Plus Account. If you have more than one CIBC Smart Plus Account, CIBC will determine which one will receive the Savings and Investments fee rebate. If you are a client with assets at CIBC Wood Gundy, CIBC Private Investment Counsel or CIBC Private Banking you automatically qualify to receive the monthly fee rebate on one Smart Plus Account. If you have more than one Smart Plus Account, CIBC will determine which one will receive the monthly fee rebate.
    [Show full text]
  • Macro View Canadian Markets U.S. Markets
    INVESTMENT STRATEGY GROUP MARKET BEAT Friday, September 18, 2020 MACRO VIEW Market Indicators Index Level* Change YTD YTD (C$) North American equity benchmarks are trading flat to higher. The U.S. S&P/TSX 16,296.32 0.31% -4.5% -4.5% Department of Commerce announced this morning that it will ban U.S. S&P 500 3,355.73 -0.04% 3.9% 5.4% business transactions with Chinese social media apps TikTok and WeChat NASDAQ 10,876.06 -0.31% 21.2% 23.0% starting on Sunday, meaning Americans will no longer be able to Dow Jones 27,882.86 -0.07% -2.3% -0.9% download the apps. In macro data releases, Canada’s retail sales in July Nikkei 225 23,360.30 0.18% -1.3% 4.2% grew by 0.6% month-over-month but missed analysts’ forecasts of 1.0%. Euro Stoxx 50 3,297.12 -0.59% -12.0% -5.6% Excluding automobiles, retail sales declined by 0.4% compared to FTSE EM 2,334.58 0.30% 1.0% 2.5% estimates of a 0.5% increase. Shifting to commodities, West Texas Intermediate crude oil Canadian Market Movers ( +0.3%) prices are little changed but they have already had a very K Kinross Gold 4.6% positive week due to the impact of Hurricane Sally in the U.S. and also comments from yesterday’s OPEC meeting saying that the group will SHOP Shopify Inc 3.9% clamp down on countries not complying with production curbs. Gold CCL/B Ccl Inds B 3.3% ( +0.3%) is trading higher even as government bond yields and the U.S.
    [Show full text]
  • List of Financial Institutions Offering Locked-In Pension Products Issued: September 5, 2018
    Superintendent’s List of Financial Institutions Offering Locked-In Pension Products Issued: September 5, 2018 This list is to be used for the purposes of sections 104-120, 105, 122-139, 141 and 162 of the Alberta Employment Pension Plans Regulation (154/2014, Consolidated up to 224/2014). The Financial Institutions that appear on this list, as indicated in bold typeface, have been acknowledged by the Superintendent to accept locked-in funds into the types of contracts indicated. The companies listed in regular typeface have been authorized by the Financial Institutions to accept locked-in funds on their behalf, and payments may be made directly to those listed agents. There may be institutions that have applied to appear on this list but whose application was still being processed at the time this list was updated. Please contact our office to verify the status of any Financial Institution with respect to this list. Questions may be directed to: Alberta Treasury Board and Finance Superintendent of Pensions #402, 9515 – 107 Street Edmonton, AB T5K 2C3 Phone: 780-427-8322 Fax: 780-422-4283 Email: [email protected] Website: www.finance.alberta.ca/business/pensions/ SUPERINTENDENT’S LIST OF FINANCIAL INSTITUTIONS OFFERING LOCKED-IN PENSION PRODUCTS BANKS LIRA LIF Canadian Western Bank 21-Dec-15 CIBC (Canadian Imperial Bank of Commerce) 1-Feb-07 23-Oct-07 Concentra Bank 20-Sep-06 20-Sep-06 Home Bank 6-Feb-18 HSBC Bank Canada 14-Sep-07 National Bank of Canada 11-Dec-07 Tangerine Bank 13-Nov-07 20-Jun-12 CREDIT UNIONS LIRA LIF BlueShore
    [Show full text]
  • Cibc Self Directed Investment Account
    Cibc Self Directed Investment Account Irrelevant Amory enkindle some microspores and catenating his grads so restrainedly! Creaking or germinant, Hercule never sovietize any pendragonship! Is Lincoln tawnier when Franklin chute obstructively? What you purchase mutual funds either remember using a td canada inc, and account investment accounts is summarized and US for example and an a TD Direct Investing account. Python with every thing: import requests from oauthlib. Online and mobile access to shower your CIBC banking and investing accounts. This slab is saturated to the trustee to crawl the administrative costs of overseeing the RRSP. That only among their chosen field is in touch id and paying a self directed account or on the ability to clear title to bring to. The Fidelity Growth Company Commingled Pool execute a collective investment trust project the. Friday that its automated phone surveillance and ATMs had begun working again, after public service outage on Thursday impacted millions of customers. Bloomberg found once they get been outperforming their conventional peers. For beginners and other brokerages to focus on the cerlox bound handout. Pricing CIBC Investor's Edge. Cibc offers investment account types, cibc is no call shortly, but only if you invest in the investments? How risky are investing. This trail include differing underwriting guidelines, product features, terms, fees, and pricing. Get rates of iron and performance over grass for CIBC Mutual Funds including savings income growth and managed. Columbia threadneedle investments typically, what is king although cse is very solid business from nps investment options are. Who Is CIBC's Self Directed Discount Broker Best for.
    [Show full text]
  • Speaker Biographies
    CIBC INVESTOR DAY SPEAKER BIOGRAPHIES Victor G. Dodig President and Chief Executive Officer, CIBC Victor Dodig is President and Chief Executive Officer of the CIBC group of companies, one of North America's largest financial services institutions. Mr. Dodig joined CIBC in 2005 as Executive Vice-President, CIBC Wealth Management. In 2007, he became Executive Vice-President, Retail Distribution, CIBC, where he led the bank’s retail banking distribution and sales teams. He was appointed Group Head, Wealth Management in 2011, taking on responsibility for the bank’s brokerage, private wealth, and asset management businesses in both Canada and the US. Mr. Dodig was named President and Chief Executive Officer and a member of CIBC's Board of Directors in September 2014. He also serves on the Board of Directors for the C.D. Howe Institute and is a member of the Catalyst Canada Advisory Board. Prior to joining CIBC, Mr. Dodig was Managing Director and Chief Executive Officer in Canada for UBS Global Asset Management. Earlier in his career, he spent five years as Managing Director in Canada, the US and the UK for Merrill Lynch and Company, where he gained international experience, following three years as a Management Consultant with McKinsey and Company. Mr. Dodig is a past recipient of Canada's Top 40 Under 40™ award. He holds an MBA from Harvard University where he was a Baker Scholar, and a Bachelor of Commerce from the University of Toronto (St. Michael's College). He also holds a Diploma from the Institut d'études politiques in Paris. CIBC INVESTOR DAY SPEAKER BIOGRAPHIES Kevin Glass Senior Executive Vice-President and Chief Financial Officer, CIBC Kevin Glass has overall responsibility for financial, management and regulatory reporting; maintenance of accounting records; financial analysis and planning; tax planning and compliance; Treasury; and liaising with CIBC investors.
    [Show full text]
  • Global-Crossing-Complaint.Pdf
    THE GLOBAL CROSSING ESTATE REPRESENTATIVE, FOR ITSELF AND AS THE LIQUIDATING TRUSTEE OF THE GLOBAL CROSSING LIQUIDATING TRUST, By Special Litigation Counsel, ENTWISTLE & CAPPUCCI LLP 299 Park Avenue, 14'~Floor New York, New York 10171-1499 (2 12) 894-7200 Andrew J. Entwistle (AE-65 13) Harold F McGuire, Jr. (HM-2440) Arthur V. Nealon (AN-0629) William W. Wickersham (WW-5501) Helen Chung (HC-3552) Peter Morgenstern (PM-5021) BRAGAR WEXLER EAGEL & MORGENSTERN, LLP 885 Third Avenue, Suite 3040 New York, New York 10022 (212) 308-5858 Of Counsel with respect to claims against Continental Casualty Company UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK X GLOBAL CROSSING ESTATE : 04 Civ. 2558 (GEL) REPRESENTATIVE, FOR ITSELF AND AS THE LIQUIDATING TRUSTEE OF THE GLOBAL CROSSING LIQUIDATING TRUST, Plain tiff, GARY WINNICK, LODWRICK COOK, DAN J. COHRS, JACK M. SCANLON, JOSEPH P. CLAYTON, THOMAS J. CASEY, DAVID A. WALSH, S. WALLACE DAWSON, JR, JOSEPH P. PERRONE, GKW UNIFIED HOLDINGS LLC, THE WIMYICK FAMILY FOUNDATION, INC., ANDERSEN WORLDWIDE S.C., ARTHUR ANDERSEN LLP, MARK FAGAN, JOSEPH F. BERARDINO, THOMAS L. ELLIOTT, ANTHONY J. AMORUSO, SCOTT TAUB, BENJAMIN NEUHAUSEN, CARL E. BASS, AMY RIPEPI, JOHN STEWART, EDMUND JENKINS, DORSEY L. BASKIN, JR., MICHAEL CROOCH, KEN RIGELSFORD, RICK PETERSON, ROBERT HODGKINSON, ROS LINDSEY, ISOBEL SHARP, HAZEL POWLING, THOMAS HOEY, ODNAL L. WEEKS, CITIGROUP, INC., JACK GRUBMAN, MICHAEL CARPENTER, KEVIN MCCAFFREY, THE GOLDMAN SACHS GROUP, INC., MORGAN STANLEY DEAN WITTER, THE BEAR STEARNS COMPANIES, INC., PACIFIC CAPITAL GROUP, PCG TELECOM, ULLICO, INC., MRCO., INC., CANADIAN IMPERIAL BANK OF COMMERCE, CIBC WOOD GUNDY CAPITAL (SFC) INC., CIBC OPPENHEIMER CORP., CIBC WORLD MARKETS CORP., and CONTINENTAL CASUALTY COMPANY, Defendants.
    [Show full text]
  • Superintendent's Register / Registre Du Surintendant
    SUPERINTENDENT'S REGISTER / REGISTRE DU SURINTENDANT September 22, 2021 / le 22 septembre, 2021 BANKS / BANQUES LIRA/CRI LIF/FRV BANK OF NOVA SCOTIA (See Bank of Nova Scotia Trust Co. (Scotiatrust)/Voir Societe de Fiducie Banque de Nouvelle-Ecosswe) X X CANADIAN IMPERIAL BANK OF COMMERCE (see CIBC Trust Corporation/Voir Compagnie Trust CIBC) X X CANADIAN WESTERN BANK X CONCENTRA BANK X X HSBC BANK CANADA X TANGERINE BANK X X NATIONAL BANK FINANCIAL GROUP X CREDIT UNIONS / CREDIT UNION ET CAISSES POPULAIRES LIRA/CRI LIF/FRV Central 1 Credit Union X X • Aldergrove Credit Union X X • Bulkley Valley Credit Union X X • CCEC Credit Union X X • Columbia Valley Credit Union X X • Compensation Employees Credit Union X X • Creston & District Credit Union X X • Cumberland & District Credit Union X X • East Kootenay Community Credit Union X X • Enderby & District Credit Union X X • First Credit Union X X • First West Credit Union X X • Fisgard Capital Corporation X X • Grand Forks District Savings Credit Union X X • Greater Vancouver Community Credit Union X X • Gulf and Fraser Credit Union X X • Heritage Credit Union X X • Integris Credit Union X X • Khalsa Credit Union X X • Kootenay Savings Credit Union X X • Ladysmith & District Credit Union X X • Lake View Credit Union X X • Mount Lehman Credit Union X X • Nelson & District Credit Union X X • Northern Savings Credit Union X X • North Peace Savings Credit Union X X • Osoyoos Credit Union X X • Revelstoke Credit Union X X • Salmon Arm Savings Credit Union X X Superintendent's Register / Registre du Surintendant 1 of 9 CREDIT UNIONS / CREDIT UNION ET CAISSES POPULAIRES (cont) LIRA/CRI LIF/FRV • Sharons Credit Union X X • Spruce Credit Union X X • Summerland & District Credit Union X X • Sunshine Coast Credit Union X X • Union Bay Credit Union X X • V.P.
    [Show full text]
  • Advisor Managed Accounts: February 2021 Commentary
    CIBC WOOD GUNDY BLUE HERON ADVISORY GROUP www.blueherongroup.ca I 250 361-2284 [email protected] ADVISOR MANAGED ACCOUNTS: FEBRUARY 2021 COMMENTARY February continued the fretful trend of January but with overall better performance from equity markets. We have gone from worried that the market will never recover to the anxiety that the recovery will be too robust and lead to higher inflation and interest rates. We would like to actually see the recovery before deciding upon whether it has inappropriate vigor. We tend to be trend followers rather than trend leaders so this period in the doldrums – lacking in defined direction and strength – is absolutely no fun. This is the sort of unsettled and fickle market that punishes the swift and decisive. We feel compelled to move a little slower and to watch a lot closer. Our models currently look upon equity markets as very favorable but the forefront of that rosy backdrop is very unsettled, bubbling and roiling. We are following our rules, exercising discipline but mostly watchfully waiting. Watchfully waiting may be the theme of both our lives, the economy and the market through the end of the summer as we await for vaccine supply and delivery to lead us out of lockdown and into a somewhat uncertain reopening. Much like how the pandemic downturn was distributed unevenly to sectors of the economy we can expect similar unevenness in recovery. We are again reminded that the economy and the stock markets do not move in lock step and so we can experience market strength and weakness that would not be dictated by what the economy is presently experiencing.
    [Show full text]
  • Macro View Canadian Markets
    INVESTMENT STRATEGY GROUP MARKET BEAT Monday, November 09, 2020 MACRO VIEW Market Indicators Index Level* Change YTD YTD (C$) The TSX (+1.9%) hit a two-month high and Wall Street’s main indices S&P/TSX 16,590.29 1.89% -2.8% -2.8% rallied after the pharmaceutical company Pfizer said its experimental S&P 500 3,620.68 3.17% 12.1% 11.8% COVID-19 vaccine was more than 90% effective in drug trials. West NASDAQ 12,097.34 1.70% 34.8% 34.5% Texas Intermediate crude oil (+10.1%) prices rose, supported by a Dow Jones 29,587.54 4.46% 3.7% 3.4% Saudi oil minister’s comment that OPEC output cuts could be adjusted Nikkei 225 24,839.84 2.12% 5.0% 8.1% to offset rising supply and weak demand. Gold (-4.3%) retreated as Euro Stoxx 50 3,426.85 6.95% -8.5% -3.5% stock markets rallied on positive vaccine news. North American bond FTSE EM 2,505.24 1.75% 8.4% 8.1% yields jumped in morning trade with the U.S. 10-year at 0.96% and the Canadian 10-year at 0.78%. The Canadian dollar strengthened against Canadian Market Movers the greenback to a 2-year high following news of a promising COVID-19 vaccine development. SU Suncor Energy 17.7% CVE Cenovus Energy 14.6% CANADIAN MARKETS CNQ Can Natural Res 14.2% IMO Imperial Oil 11.7% Air Canada (AC, +19.6%) reported Q3 revenue of $757 million but missed BAM/A Brookfield Ass 10.9% consensus by 29%.
    [Show full text]
  • Canadian Privacy Policy Revised March 2021
    Canadian privacy policy Revised March 2021 Your privacy is protected Your privacy is important to us: You have chosen CIBC to provide your financial services. We value the trust and confidence you place in us. At CIBC, protecting the privacy and confidentiality of your personal information is very important to us and an integral part of our commitment to service excellence. To help us meet this commitment to you, CIBC has appointed a Chief Privacy Officer to oversee CIBC’s privacy practices and this policy. Your privacy is important to you: We encourage you to read this privacy policy so that you can understand how we collect, use, share and protect your personal information and how you can manage your information in a way that best suits you. To help you understand our privacy policy, here are some important terms you should know. Important terms • Personal information” or “information” means information about an identifiable individual such as contact information, account numbers or details, such as age, marital status and financial information. This information can be in any form including paper, electronic, audio, video or biometric, such as voiceprints, photographs and signatures. This information can also include information collected through digital activities, such as device model, browser type and IP address. • “CIBC,” “we,” “our” or “us” means collectively Canadian Imperial Bank of Commerce and its Canadian affiliates that offer deposits, loans, mutual funds, securities trading, portfolio management, investment counseling, mortgages, credit cards, trust services, insurance and other products or financial products and services, including Simplii Financial. • “CIBC Foreign Affiliates” means CIBC’s businesses, affiliates, subsidiaries and branches of CIBC located outside of Canada, such as CIBC Bank USA.
    [Show full text]
  • Macro View Canadian Markets U.S. Markets
    INVESTMENT STRATEGY GROUP MARKET BEAT Monday, January 04, 2021 MACRO VIEW Market Indicators Index Level* Change YTD YTD (C$) The TSX (+0.7%) is higher helped by a rising energy sector while Wall S&P/TSX 17,547.87 0.66% 0.7% 0.7% Street's main indices are modestly lower after hitting a record high S&P 500 3,740.87 -0.40% -0.4% -0.3% earlier in the trading session. West Texas Intermediate crude oil (- NASDAQ 12,879.06 -0.07% -0.1% 0.0% 0.2%) prices are slightly down, while OPEC meets to discuss capping Dow Jones 30,324.83 -0.92% -0.9% -0.9% output at current levels in February, as COVID-19 keeps worries about Nikkei 225 27,258.38 -0.68% -0.7% -0.6% demand elevated. Gold (+2.2%) prices started the new year by Euro Stoxx 50 3,581.81 0.82% 0.8% 1.3% surpassing the key US$1,900 level, as rising COVID-19 cases have FTSE EM 2,700.64 1.16% 1.2% 1.1% investors turning to the metal. North American bond yields have steadied in morning trade with the U.S. 10-year at 0.93%, and the Canadian Market Movers Canadian 10-year at 0.68%. The Canadian dollar strengthened against the greenback as oil prices climb and domestic data showed factory BPY-U Brookfield Prope 16.2% activity expanding in December at its fastest pace on record. WEED Canopy Growth Co 8.8% Canadian factory activity grew at its fastest pace on record in K Kinross Gold 7.1% Decembe r as new orders and production expanded, while manufacturers ABX Barrick Gold Crp 6.8% remain optimistic that output would continue to rise.
    [Show full text]
  • Macro View Canadian Markets
    INVESTMENT STRATEGY GROUP MARKET BEAT Monday, July 13, 2020 MACRO VIEW Market Indicators Index Level* Change YTD YTD (C$) The TSX (+0.5%) edged higher on positive economic data while Wall S&P/TSX 15,784.28 0.45% -7.5% -7.5% Street's main indices gained following an upbeat start to Q2 earnings. S&P 500 3,213.79 0.90% -0.5% 3.7% West Texas Intermediate crude oil (-0.8%) prices dipped on demand NASDAQ 10,772.12 1.46% 20.1% 25.1% concerns after a record daily rise in global COVID-19 cases over the Dow Jones 26,413.82 1.30% -7.4% -3.5% weekend, with traders waiting for an OPEC meeting expected to reduce Nikkei 225 22,784.74 2.22% -3.7% 1.7% output. Gold (+0.5%) prices rose, and are trading above the key Euro Stoxx 50 3,336.87 1.23% -10.9% -5.9% US$1,800/oz level, supported by a declining dollar and worries over FTSE EM 2,277.85 0.82% -1.4% 2.7% surging COVID-19 cases. North American bond yields rose with the U.S. 10 -year at 0.65%, and the Canadian 10-year at 0.58%. The Canadian Canadian Market Movers dollar strengthened against the greenback as stock markets rallied and ahead of an interest rate decision from the Bank of Canada. SJR/B Shaw Comm-B 5.5% Canadian producer prices gained 0.4% in June from May, TECK/B Teck Resources-B 3.5% primarily on higher prices for energy and petroleum products, that NTR Nutrien Ltd 2.8% jumped 11.7%, however, excluding energy and petroleum products, the K Kinross Gold 1.6% industrial product price index fell 0.6% on lower prices for recreational FM First Quantum 1.6% vehicles, electronics and pulp and paper products.
    [Show full text]