📈 Canada's Economy Grows, But Are Consumers Feeling the Pinch?
Happy Friday, Investors! Enjoy today's BTV - Business Television weekly update with stock market news and investment opportunities, covering Mining, Tech, ETFs, Bio, and more.
4 Minute Read
Here's how some major markets/indexes performed in the last 5 days:
(USD)
As of 08/30/2024 at 1:00pm PST
Stay ahead with B-TV's latest feature.
Visit www.b-tv.com to receive push notifications for breaking news and exclusive investment updates. Be the first to know about companies before they hit the air and make informed investment decisions.
Canada’s Economy Grows, but Spending Tightens
Canada’s economy grew at a 2.1% annualized rate in Q2, outpacing forecasts and dodging recession fears. But it's not all rosy—household spending per capita dropped for the first time since 2021, signaling that high interest rates are pinching wallets.
Why It Matters: Business investment and exports are driving growth, but belt-tightening consumers suggest the Bank of Canada’s rate hikes are starting to bite. As policymakers prep for their next move, the data sends mixed messages: the economy’s holding up, but cracks are starting to show.
Eyes now turn to the BoC's upcoming decision—will they pause or press on?
Discover how Harvest ETFs, led by Michael Kovacs, focuses on wealth creation & preservation through quality investments and high monthly income.
Recommended by LinkedIn
(TSX.V: MFL)
Explore Mawson Finland's ongoing efforts in gold and cobalt exploration in Northern Finland, driving sustainable resource development.
Nvidia’s Reality Check: Even Record Earnings Can’t Meet Sky-High Expectations
Unreal Growth: Nvidia, the world’s largest chipmaker, just posted stellar quarterly results—revenue skyrocketed by 122% to $30 billion, and profits nearly tripled to $17 billion. Gross margins? A stunning 75%. Yet, Nvidia's forecast of 80% growth for the next quarter isn't enough to keep investors satisfied.
Market Shock: The company’s stock fell more than 8% after-hours, wiping out over $200 billion in market value. Why? Concerns are mounting over production challenges with its upcoming Blackwell chip, leading some to fear delays in future revenue streams.
High Bar: With Nvidia's stock already up 200% this year after a massive 239% rise in 2023, some analysts suggest investor expectations have become “lofty and unsustainable.” As the stock surges ahead of reality, even a perfect performance may not be enough to keep it on track.
📢 This Week's Selected Company News:
Arizona Sonoran Copper Company Inc. (ASCU:TSX | ASCUF:OTCQX) Reports Promising PEA for Cactus Open Pit Project
Arizona Sonoran Copper Company (TSX: ASCU) has released a Preliminary Economic Assessment (PEA) for its Cactus Open Pit Project in Arizona, revealing a post-tax Net Present Value (NPV8) of US$2.03 billion (C$2.77 billion) and an Internal Rate of Return (IRR) of 42%. The study outlines a 20-year mine life with potential average annual copper production of 56,000 tonnes. The project is estimated to have an initial capital cost of US$1.27 billion and boasts a payback period of just 2.6 years, underscoring its strong economic viability.
Lexaria Bioscience Reports Positive GLP-1 Study Results
Lexaria Bioscience (NASDAQ: LEXX) announces promising results from its second GLP-1 human study, showing zero adverse effects. The study highlights the safety of Lexaria's oral formulation for diabetes and obesity treatment, paving the way for potential partnerships.
Japan Gold Corp. and Barrick Expand Gold Exploration Efforts in Japan
Japan Gold (TSXV: JG) has announced significant progress in its exploration alliance with Barrick Gold, targeting gold discoveries across Japan. The companies have advanced exploration activities across multiple projects, including geophysical surveys and drill programs in key prospective regions such as Hokkaido and Kyushu. Early results indicate potential for high-grade gold mineralization, with the next phase focusing on drilling targets identified from the extensive data gathered. This strategic partnership aims to capitalize on Japan's untapped mineral potential and establish a new frontier for gold exploration.