a day ago
iShares S&P / TSX 60 Index ETF Stock (TSE:XIU) Makes Small Gains, Along With Wholesale Prices
Prices are going up in Canada again, or so says the latest word from Statistics Canada. Thankfully, though, the boost will be comparatively small, and some households may never be able to tell the difference between normal high prices and these slightly higher wholesale prices. The iShares S&P / TSX 60 Index fund (TSE:XIU) counted good enough as good enough, and posted a fractional gain in Monday morning's trading.
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Wholesale prices—except for oilseed, petroleum, petroleum products, and assorted hydrocarbons—gained 0.1% in May. That brought the overall basket of materials involved to $84.2 billion. The gains were hardly universal; the same study noted that the personal goods and household goods sectors saw increases of 3.5%, which meant sales were on the rise. That gave some explanation for the small uptick in prices.
Some parts gained more than others; the motor vehicle sector, for example, gained just 2.2%. Some sectors even managed to lose ground, though these were a bit less seen in typical Canadian household shopping. For instance, forestry, mining and industrial machinery, equipment and supplies dropped 3.9%. Farm, lawn and garden machinery and equipment, meanwhile, plummeted down 17.1%.
A Quantum Computing Revolution
But despite this unexpected shift in wholesale prices, Canada also delivered a noteworthy advance in quantum computing. SuperQ recently opened the first-ever quantum computing Super Hub location in Lethbridge, Alberta. Opened at the Tecconnect Innovation Centre therein, the Super Hub gives clients access to its Super platform. Super is similar to ChatGPT in nature, reports note, though also offers quantum computing services as well as '…high-performance computing capabilities.'
SuperQ picked Lethbridge for the honor thanks to what SuperQ called '…a proven track record of pioneering AI, blockchain and IoT programs catering to industry needs.' The fact that Lethbridge was also '…a convergence point of Canada's Premiere Food Corridor and Western Gateway that comprise major manufacturing and supply chain activities…' did not hurt either.
Is the iShares S&P / TSX 60 Index ETF a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSE:XIU shares based on 52 Buys and nine Holds assigned in the past three months, as indicated by the graphic below. After a 18.27% rally in its share price over the past year, the average TSE:XIU price target of $44.18 per share implies 8.26% upside potential.
