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Globe and Mail
2 hours ago
- Globe and Mail
Amber Kanwar's Weekly Setup: Big tests are coming for the markets
My husband got taken down by a nasty summer bug but has reintegrated into the family. He stayed in the guest room to avoid infecting me and the kids. He passed his time watching TV and having meals delivered. I'm glad he is back in the fold, but I would be lying if I didn't admit there is a small part of me that thought about licking one of his spoons to get a few days alone in a quiet room. This is not the week to call in sick with huge catalysts on deck. Here are the five things to watch: Magnificent week: With the S&P 500 sitting atop a record high, the resilience of the Magnificent 7 (also at a record) will be the next test for the markets. Four of the seven companies report this week, including Meta Platforms Inc. META-Q, Microsoft Corp. MSFT-Q, Apple Inc. AAPL-Q and Inc. AMZN-Q They represent a combined US$14-trillion in value. The big question for all of them will be how much each company is spending on AI. Although for Apple, it will be more like, 'Have you heard of AI?' Apple is the second-worst-performing Mag7 after Tesla Inc. TSLA-Q, down about 14 per cent so far in 2025. The reason Apple is in the dog house is because it lacks a clear AI strategy, according to Needham senior analyst Laura Martin. She said 'calls to replace Tim Cook as Apple CEO are getting louder every quarter that Apple doesn't lay out a comprehensive GenAI strategy.' After Alphabet Inc. GOOGL-Q surprised investors with a US$85-billion spending plan, there is a good chance the others follow suit. Is it any wonder that Nvidia Corp. NVDA-Q is back at a record high and the best-performing Magnificent 7 in 2025? Decisions, decisions: If mega-cap earnings weren't enough, the Bank of Canada and U.S. Federal Reserve are delivering interest-rate announcements on Wednesday. The BoC is expected to keep rates on hold at 2.75 per cent for a third time in a row. Core inflation, which is hanging around 3 per cent, and the oddly robust jobs data from earlier this month make it an easy bet that the BoC will hold. It is also an easy bet that the Federal Reserve won't cut this month, although U.S. President Donald Trump may think otherwise after meeting with Fed Chair Jerome Powell this week on a tour of the central bank's renovations. Mr. Trump said Mr. Powell congratulated him on a strong economy, which he took to mean that rate cuts are coming. Watch for dissenters on the decision; those are the ones auditioning for Mr. Powell's job when his term expires next year. Hold your breath: In the past three months, UnitedHealth Group Inc. UNH-N has slashed its profit forecast, announced that its CEO is leaving, then suspended its profit forecast altogether and endured a 50-per-cent drop in the value of its shares. And just last week, it confirmed that it is the subject of a Department of Justice investigation into its Medicare practices. Talk about a season to forget. The embattled health insurer is set to report quarterly results Tuesday morning as its stock languishes at the lowest level in five years. However, that now means it sports a low-teens multiple. Before you let that lure you in, like yours truly, value investor Michael McCloskey, founder and president of GreensKeeper Asset Management, said on my podcast this week that this has the markings of a value trap. 'When you see the suggestion that maybe they're playing games with Medicare, it's the cockroach theory,' he said. 'I might be totally wrong, but when I see that, I tend to stay away.' Flying close to the sun: Bombardier Inc. BBD-B-T reports this week and talk about a comeback story. The stock is up 1,400 per cent over the past five years compared with just 100 per cent for the TSX over that time. It went from a universally unloved stock with high debt levels to a Bay Street favourite with a new investment-grade debt rating. Its transformation into a business-jet company has paid off big time. But some analysts say the setup from here gets harder. TD Cowen analyst Tim James downgraded the stock last week on the runup and says it has a bad habit of falling on earnings days regardless of the results. '[The] recent share-price strength may heighten Q2 hurdle for driving further short-term upside,' said Mr. James in a note downgrading the stock from buy to hold. Hot commodity: MEG Energy Corp. MEG-T reports results Thursday after the close. The energy producer is subject to a hostile bid from Strathcona but reports last week suggest Cenovus is preparing a rival bid. The company will likely be tight lipped about what it can say, but analysts and investors may pry to see where the companies are in the process and how many other bidders have kicked the tires. In the Money with Amber Kanwar brings you actionable insights from top portfolio managers and business leaders. New episodes out Tuesdays and Thursdays. Subscribe now!
CBC
2 hours ago
- CBC
'It's very fun': DiverseCity Festival hosts 4th event in Summerside
Social Sharing Quincy Cumayas has been in Canada for a year, but she found herself centre stage at Sunday's DiverseCity festival event in Summerside, P.E.I., singing for the attendees. It was the 10-year-old's first time attending one of these events, but she has sung at other events in the past where she sang things like O Canada and the Filipino national anthem. The event brought a wide range of different cultures together at the Lefurgey Cultural Centre. "It's very fun actually. I can, like, meet other people, like, other cultures," said Cumayas, who started singing when she was just three years old. She said she liked the event and would come back to another. The event, put on by the Immigration and Refugee Services Association, is set up to help connect Islanders with newcomers, allowing both to learn more about their respective cultures. Longtime attendee Said Akbar Sadat has been coming to DiverseCity events since 2018. He's originally from Afghanistan, but came to the Island in 2007. He was at the festival serving up traditional Afghani food. "They love it, they said it's a unique food, Afghani food," said Sadat. He started preparing food at 4 a.m. and then drove to the event five hours later. Sadat said he enjoyed trying different foods, such as Filipino, Indian and Mexican options. Event co-ordinator Hai Nguyen, who is originally from Vietnam, said he enjoys seeing people from other backgrounds come together. "I feel so happy when I see them, you know, with different kind of languages," he said. Even if Nguyen can't understand the languages in the musical performances, he still enjoys it. "We have dancing, we have singing, and we have instruments ... but actually I really enjoy the melody," said Nguyen.
CTV News
3 hours ago
- CTV News
Troubadour Festival Summer Concert Series shines through the rain
The second edition of this years Troubadour Festival Summer Concert Series was took over Meridian Place Saturday night. The local artist showcase began at 5:00 p.m. featuring Doofus, Sydney Riley, Dorene and The 99s who finished off the night. Halfway through the local showcase, the skies opened with rain, but it did not stop the artists from giving it their all on the stage. the skies opened up during the Troubadour Festival on July 26, 2025 Rain fell on the crowd during the Troubadour Festival Summer Concert Series in Barrie on July 26, 2025 (CTV NEWS/ Luke Simard) 'It was awesome to see everyone stick around until the very end it was amazing so happy we did this,' said Sydney Riley. Dorene kept the crowd together as the rain lightened. It was the groups first time playing as a duo and the pair said their gig was a success. 'This was our first time playing as a duo so that experience definitely solidified our belief in our abilities as a duo, so I think were definitely going to keep going,' said drummer Gray Laine. Dorene took the stage as the skies lightened after a heavy rainfall Dorene rocks the stage at the Troubadour Festival local artist showcase in Barrie (CTV NEWS/Luke Simard) The sun slowly peaked through the clouds as The 99s took the stage to finish the night off. Barrie native and vocalist Carleigh Aikins always appreciative of performing in her hometown. 'Its always amazing to return home and feel that everyone still supports me and supports what were doing and supports the arts here in our community,' said Aikins. With another successful summer concert series, executive director of Barrie Downtown BIA Craig Stevens said the local music scene is alive and well. The 99s headlined Troubadour Festival Summer Concert Series on July 26, 2025 in Barrie The 99s headlined Troubadour Festival Summer Concert Series on July 26, 2025 in Barrie (CTV NEWS/ Luke Simard) 'The local acts are just its amazing to see you don't realize the talent that you've got locally and it provides an opportunity to showcase it and have the community come out and support it,' said Stevens. With the performers inspired to keep going and improving their music careers thanks to the Troubadour Festival Summer Concert Series. 'So many local musicians came out just to see me so there was a lot more talent than anyone even knew so just keep on supporting local,' said Riley. With Aikins praising the Troubadour Festival and the opportunity it offers to artists and the community. 'The troubadour has so many iterations this is a really great version of it because the community gets to participate for free so that's wonderful and I hope it continues for many years to come,' said Aikins. The Troubadour Summer Concert Series will return to downtown Barrie on August 16 with multiple Juno Award winner Hawksley Workman. A local artist showcase will once again open the festival. Open Air Dunlop will feature an 'Eats on the Streets' festival throughout the day before the local opener showcase.
