Bank of Canada Governor acknowledges the threat of a recession, Prime Minister Mark Carney hosts Canada’s Premiers in Ottawa and both Nike and Fed X reacting to the trade war pressures.
Market Numbers (Futures)
TSX : Down (0.04%) 25,060.24
TSXV: Up (0.37%) 640.78
DOW: Down (0.03%) 41,953.32
NASDAQ: Down (0.33%) 17,691.63
FTSE: Down (0.65%) 8,645.08
In the Headlines
As trade wars continue to threaten the Canadian economy, Prime Minister Mark Carney is hosting Canada’s Premiers today in Ottawa. Topics on the table include discussing a single Canadian economy, and the effects of the Chinese and US tariffs.
This Sunday, Carney is also expected to announce the launch a federal election campaign as soon as April 28th.
As the looming threat of US tariffs move closer, the Bank of Canada Governor, Tiff Macklem has acknowledged a recession may be in the cards for Canada. He noted that the Canadian economy was in a strong position at the start of 2025 but, “Unfortunately we’re not going to stay on the tarmac for long.” The soft landing could be put in jeopardy by the length of time the tariffs are kept in place.
Several Company heavyweights declined in pre market trade. Nike down over 6 per cent, and is reporting a revenue decline of 9 per cent. Fed X is down 8 per cent after the company lowered its guidance for a third quarter. Both companies site weakening demand, rising inflation and President Trump’s trade war as reasons for the decline.
Johnson and Johnson plans to spend over US$55 to build 4 plants in theUS as a result of drug import duties from the Trump administration.
Currencies Update: (Futures)
In currencies today, the Canadian dollar edged down against the greenback, trading at US$0.69. Bitcoin reversed yesterday’s gain, dropping by nearly C$1900 and last trading at C$120,316.14.
Commodities: (Futures)
Natural Gas: Down (1.22%), 3.92
WTI: Down (0.06%), 68.02
Gold: Down (0.38%), 3034.89
Copper: Down (0.89%) 5.03
To stay up-to-date on all of your market news head to stockhouse.com
Join the discussion: Find out what everybody’s saying check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
