Money Sense

[Anonymous]

The markets have been tanking the past ten days. What the hell is going on.

The US had five hundred thousand new infections in the past week. Europe had eight hundred thousand new cases. Countries are going back into lock downs.

[Anonymous]

U.S. stocks rose sharply on Monday after news broke of a major development in producing a COVID-19 vaccine.



The Dow Jones Industrial Average skyrocketed more than 830 points, or approximately 3%, by the time markets closed Monday. The index shed some earlier gains by the afternoon but briefly hit an intraday record high.



Pharmaceutical giant Pfizer and partner Biotech said in a statement Monday morning that their vaccine was "found to be more than 90% effective in preventing COVID-19" according to an early analysis that included 94 confirmed cases of COVID-19 in trial participants, which seemed to spark the morning market rally.



Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, called that this news a "game-changer" in a commentary Monday morning.



"To the extent that consumer spending and economic activity have been suppressed by concerns of the increasing Covid cases, anything that can reverse that trend will be welcomed by the markets," Zaccarelli added.

[Anonymous]

U.S. stocks surged on Nov. 16 as news of vaccine breakthroughs continue to fuel the market rally.



The Dow Jones Industrial Average rose more than 470 points, closing at a record high of 29,950, after biotech firm Moderna Inc. announced that its coronavirus vaccine candidate was 94.5 percent effective in an preliminary look at study results.



Since the start of this month, the Dow has risen more than 10 percent and is edging toward the 30,000 mark, a key milestone for the index.

[Anonymous]

Canada's main stock index surged higher Tuesday alongside other North American markets, as the Dow Jones industrial average passed the 30,000-mark for the first time.



The S&P/TSX composite index was up 179.72 points at 17,274.25, still shy of its February record high of 17,970.51.The S&P 500 index was up 57.82 points at 3,635.41, while the Nasdaq composite was up 156.15 points at 12,036.78.



The energy sector is helping the TSX on the path to its own record. Energy stocks gained nearly four per cent on Tuesday, with shares of Suncor Energy up 4.88 per cent and Enbridge Inc. up 3.98 per cent.



Suncor has announced a plan to become the operator of Syncrude's oilsands mine and upgrader works, while Enbridge Inc. received approvals for U.S. federal permits for its Line 3 project. The January crude contract was up US$1.85 at US$44.91 per barrel and the January natural gas contract was up 7.7 cents at US$2.90 per mmBTU.



The Canadian dollar traded for 76.73 cents US on Tuesday, compared with 76.44 cents US on Monday.



There are still a lot of tough months ahead of us. On the virus front, lockdowns are expanding. Investors should be aware of that and not get too ahead of themselves.

[Anonymous]

If you're working from home because of the pandemic, you may qualify for a tax credit up to $400.



The amount is up to $400 and it's going to be based on the amount of time someone works from home, and there's going to be no need to track or detail your expenses

[Anonymous]

Shareholders of two rival energy companies voted overwhelmingly in favour of joining forces today, clearing the way for Cenovus Energy Inc.'s $3.8-billion friendly takeover of Husky Energy Inc.



The endorsement by investors of both Calgary-based companies was resounding, with more than 90 per cent of votes cast in favour of the acquisition.



The combined company would create the third-largest Canadian oil and natural gas producer by total production.



The transaction announced in October is expected to close in the first quarter of 2021, pending regulatory approvals.

[Anonymous]

A report from Deloitte Canada says there's reason to believe the energy sector is poised for a rebound in 2021 as demand starts to exceed supply.



International crude oil prices have been relatively level over the last few months and Deloitte is forecasting the price of WTI crude oil will average $46 US per barrel in 2021, a level that Botterill says will take some pressure off companies.



"It's at a point where it allows companies the flexibility to look at spending money again, and getting rigs out and trying to spend some capital," he said.



Deloitte sees the price of WTI rising to $54 US in 2022 and reaching $61 US by 2024.



The report also notes that prices for natural gas rose in 2020, with prices at their strongest in years, up 25 per cent year-over-year as Canadian producers increased shipments to the United States and eastern Canadian markets and accessed storage in summer months.



The higher prices have boosted winter drilling schedules and increased production volumes above those of one year ago, the report said.

[Anonymous]

Shares of Twitter on Monday dropped 12 percent, after the company banned President Donald Trump and a slew of other conservatives.



Shares dropped after the market opened on Monday, reaching a low of $45.17. Twitter shares closed at $51.48 on Jan. 8.

[Anonymous]

On Trump's inauguration in January 2016, markets looked like this:



The Dow was at 19,827.25



The Standard & Poor's 500 2,271.31.



The Nasdaq 5,555.33.





Here's the closing day numbers on Trump's last day in office:



The Dow- 30, 930.52



S&P 500 index 500- 3,798.91



Nasdaq- 13,197.18





Even with the once in a century pandemic, the Dow was up over 56 percent, S&P was up over 57 percent and the the Nasdaq soared nearly 238 percent all under Trump's watch.

[@realAzhyaAryola]

On Trump's inauguration in January 2016, markets looked like this:



The Dow was at 19,827.25



The Standard & Poor's 500 2,271.31.



The Nasdaq 5,555.33.





Here's the closing day numbers on Trump's last day in office:



The Dow- 30, 930.52



S&P 500 index 500- 3,798.91



Nasdaq- 13,197.18





Even with the once in a century pandemic, the Dow was up over 56 percent, S&P was up over 57 percent and the the Nasdaq soared nearly 238 percent all under Trump's watch.

I suppose that's a good thing for Trump, eh?

[@realAzhyaAryola]

I am trying to follow this GameStop issue but I can't wrap my mind around it.

[Anonymous]

On Trump's inauguration in January 2016, markets looked like this:



The Dow was at 19,827.25



The Standard & Poor's 500 2,271.31.



The Nasdaq 5,555.33.





Here's the closing day numbers on Trump's last day in office:



The Dow- 30, 930.52



S&P 500 index 500- 3,798.91



Nasdaq- 13,197.18





Even with the once in a century pandemic, the Dow was up over 56 percent, S&P was up over 57 percent and the the Nasdaq soared nearly 238 percent all under Trump's watch.

I suppose that's a good thing for Trump, eh?

It was good for us and our retirement savings.

[Anonymous]

I am trying to follow this GameStop issue but I can't wrap my mind around it.

Neither can I.

[Anonymous]

Canadian Pacific bought Kansas City Southern for $25 billion or $275 per share. They will also assume $3.8 of their debt. We shall see how this affects CP's share price on Monday.

[Anonymous]

It is the top merger and acquisition deal announced in 2021 and the biggest merger involving two rail companies, though it ranks behind Berkshire Hathaway's purchase of BNSF in 2010 for $26.4 billion.  No doubt, cancelling KXL hastened CP's purchase of KCS.