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TORONTO, May 8 (Reuters) - Canada's oil and gas producers shut down some production after Alberta was hit by an unprecedented wildfire season, although rain and cooler weather are expected to bring some relief on Monday. Canada is home to the world's third-largest reserves, and most of these are in northern Alberta's vast oil sands. NuVista Energy (NVA.TO) said on Monday it had temporarily shut in about 40,000 boepd as a precaution. In neighboring British Columbia, several communities remained under evacuation orders after heavy rain last week and flood warnings stayed in place. ($1 = 1.3319 Canadian dollars)Reporting by Denny Thomas; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ These 21 cheap stocks have strong momentum and can deliver double-digit gains while the market stays stagnant, according to BMO Capital Markets
▼ + stars: | 2023-05-06 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

Investors should get used to directionless trading, according to BMO Capital Markets. The S&P 500 has bounced between technical support and resistance levels, especially recently. BMO Capital MarketsBulls or bears hoping for a breakout in one direction or another will both be disappointed, according to BMO Capital Markets. 21 cheap quality stocks to buy nowBut even if US stocks stay stagnant for months, BMO believes investors can outperform by targeting high quality companies that have reasonable valuations and price momentum. Such stocks typically log double-digit returns while the S&P 500 is in a tight range, Belski noted.

☆ Macy’s opens more strip mall stores as expansion strategy faces pivotal test
▼ + stars: | 2023-05-04 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +11 min

The shops, called Market by Macy's and Bloomie's, are about one-fifth of the size of the retailer's typical Macy's and Bloomingdale's stores. It has not announced the locations of the four Market by Macy's stores, but said the additional Bloomie's store will be in Seattle. By opening the strip-mall shops, the retailer could steal business away from its larger namesake mall stores. Market by Macy's stores have worked best in shopping centers with grocery anchors or stores such as off-mall retailers that draw traffic, Mastronardi said. Melissa Repko | CNBCInside of Market by Macy's, shoppers find a narrower mix of merchandise than in the mall stores.

☆ Novo Nordisk rivals see room to compete in $100 billion weight-loss drug market
▼ + stars: | 2023-05-04 | by ( Michael Erman | ) www.reuters.com time to read: +6 min

The company has two oral GLP-1 drugs in mid-stage trials, and aims to choose one for a late-stage trial this year. He forecasts GLP-1s or similar drugs topping $100 billion in annual sales early in the 2030s, with Lilly's product accounting for more than $50 billion in sales. Smaller biotechs are also vying for a piece of the obesity market and hope large pharmaceutical companies will pay up for partnerships. "I don't know if it's $90 billion or $80 billion or $50 billion. The current GLP-1 drugs can cause nausea and vomiting.

☆ Positive Alzheimer's drug trial data pushes Eli Lilly shares to another all-time high and brightens our outlook
▼ + stars: | 2023-05-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

LLY 1Y mountain Shares of Eli Lilly over the past 12 months. The FDA granted accelerated approval to an anti-amyloid drug — developed by Japanese pharmaceutical firm Eisai and U.S.-based partner Biogen (BIIB) — in early January. For Eli Lilly, specifically, Seigerman said the donanemab data appears to be a "home run." Eli Lilly said two participants in the Phase 3 trial died due to ARIA side effects, while a third patient did after a serious ARIA incident. The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

☆ AbbVie's weak newer drug sales fan worries as Humira faces rivals
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

April 27 (Reuters) - AbbVie Inc (ABBV.N) on Thursday missed quarterly revenue estimates for its newer treatments, fueling concerns over the drugmaker's attempts to cushion the blow to sales from blockbuster Humira losing patent exclusivity. The company's shares tumbled 6% in premarket trade as investors shrugged off a raised annual profit forecast. In the first quarter, Humira recorded sales of $3.54 billion, compared with analysts' average estimate of $3.58 billion. That helped Abbvie beat sales expectations. AbbVie had trimmed its full-year profit expectations earlier this month by 8 cents, citing a $150 million hit from acquired in-process research and development (IPR&D) and milestone expenses.

☆ This video game stock could struggle after the blocking of Microsoft's Activision Blizzard takeover, BMO says
▼ + stars: | 2023-04-27 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

BMO Capital Markets thinks Electronic Arts could be negatively impacted from the blocking of the Microsoft - Activision Blizzard deal. The firm downgraded EA stock to market perform from outperform Thursday. But BMO says because the UK Competition and Markets Authority's stopped Microsoft's takeover attempt of Activision Blizzard , the failure will be a cautionary tale for company's seeking large deals in the space. EA YTD mountain Shares of Electronic Arts could face more pressure after the fallout of the takeover deal from Microsoft of Activision Blizzard. However, the regulatory body did stipulate that Microsoft could make Activision games exclusive to cloud gaming platform Xbox Game Pass.

☆ Analysts are getting even more bullish on Microsoft's A.I. prospects after latest earnings report
▼ + stars: | 2023-04-26 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Microsoft's big swings on artificial intelligence are paying off, and analysts are even more bullish on the tech giant. Rangan has a buy rating on Microsoft and a price target of $335, implying upside of 21.6%. "Azure growth was ahead of expectations with MSFT showing ability to protect margin/EPS in a tough backdrop," Turrin said, who rates the stock as overweight. He also hiked his price target to $345 from $320, pointing to a 25.2% potential gain. Keith Weiss of Morgan Stanley also reiterated an overweight rating on the stock, and hiked his price target to $335 per share from $307.

☆ Bank of Canada rate-cut bets recede as core inflation proves sticky
▼ + stars: | 2023-04-26 | by ( Fergal Smith | ) www.reuters.com time to read: +3 min

[1/2] A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. The BoC has made greater progress in slowing inflation than some major peers, including the Federal Reserve and European Central Bank. Still, the rise in inflation expectations could be another reason for the Canadian central bank to be cautious about easing rates. The central bank has left its benchmark interest rate on hold for two straight meetings after lifting it to a 15-year high of 4.50%. Those rate hikes have contributed to inflation, by driving up mortgage borrowing costs, but the main aim is to slow the economy.

☆ US consumer confidence hits nine-month low; housing market bottoming out
▼ + stars: | 2023-04-25 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Consumers have shown resilience despite high inflation and a rise in interest rates, keeping the economy afloat, thanks to a strong labor market. The Conference Board said its consumer confidence index fell to 101.3, the lowest reading since July 2022, from 104.0 in March. The survey's so-called labor market differential, derived from data on respondents' views on whether jobs are plentiful or hard to get, rose to 37.3 from 36.5 in March, consistent with a tight labor market. "Take consumer purchase plans with a grain of salt," said Tim Quinlan, a senior economist at Wells Fargo in Charlotte, North Carolina. That skepticism also extended to home purchase plans.

REUTERS/Brendan McDermidNEW YORK, April 20 (Reuters) - A debt ceiling fight is looming in the U.S. yet again, giving investors another worry for markets this year. Here is a Q&A about the implications for markets:WHAT IS THE DEBT CEILING? The debt ceiling is the maximum amount the U.S. government can borrow to meet its financial obligations. Outstanding government debt, nominal gross domestic product and federal limit to borrowWHEN WILL THE U.S. HIT THE DEBT CEILING? Some Treasury bills (T-bills) are featuring a premium in their yields that may be tied to an elevated default risk, according to some analysts.

☆ Canadian housing starts slow as BoC rate hikes weigh
▼ + stars: | 2023-04-19 | by ( Fergal Smith | ) www.reuters.com time to read: +1 min

TORONTO, April 19 (Reuters) - Canadian housing starts fell more than expected in March, contributing to a slower trend in recent months that follows a rapid increase in borrowing costs, data from the national housing agency showed on Wednesday. The seasonally adjusted annualized rate (SAAR) of housing starts fell 11% to 213,865 units from a revised 240,927 units in February, the Canadian Mortgage and Housing Corporation (CMHC) said. "The SAAR of housing starts and the trend appear to be returning to pre-pandemic levels," Bob Dugan, CMHC's chief economist, said in a statement. The Bank of Canada has lifted its benchmark interest rate to a 15-year high of 4.50% to tackle inflation. For the first quarter, starts averaged 223,000, the weakest quarter since the depth of the COVID-19 pandemic in early-2020, Robert Kavcic, a senior economist at BMO Capital Markets, said in a note.

☆ Analysis: Rates shift gives European currencies fresh legs
▼ + stars: | 2023-04-19 | by ( Alun John | ) www.reuters.com time to read: +5 min

But markets expect another 75 bps of European Central Bank rate hikes, with the deposit rate rising to a peak in the autumn. Expectations for higher official interest rates typically drag money market and government bond yields higher, attracting investor cash into a country and boosting its currency. "An interest rate differential that is flat between the two regions would be equivalent to a euro/dollar move up to around 1.20." TURNAROUNDThe Federal Reserve's relentless rate hikes sent the dollar to 20-year highs last year as other big central banks moved more slowly. "But interestingly last month has seen the pound stronger, because of limited spillovers and declining U.S. and European rate expectations."

☆ US retail sales post second straight monthly drop; factory output falls
▼ + stars: | 2023-04-14 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Retail sales dropped 1.0% last month, the Commerce Department said. Data for February was revised up to show retail sales falling 0.2% instead of 0.4% as previously reported. Retail sales are mostly goods, which are typically bought on credit, and are not adjusted for inflation. Sales at food services and drinking places, the only services category in the retail sales report, edged up 0.1%. Excluding automobiles, gasoline, building materials and food services, retail sales slipped 0.3% last month.

☆ Bank of Canada seen holding on rates amid cooling inflation, financial turmoil
▼ + stars: | 2023-04-12 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

[1/2] Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. Last month the Bank of Canada became the world's first major central bank to pause its tightening campaign, leaving its benchmark rate at 4.50%. However, bank failures in the United States and Europe have put central bankers on guard against a widespread credit crunch. All 33 economists polled by Reuters agree that the Bank of Canada (BoC) will hold its key overnight rate steady. "Hiking in this environment would put markets on high alert," said Jay Zhao-Murray, FX Market Analyst at Monex Canada, in a note.

[1/2] Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. The Bank of Canada (BoC) last month became the world's first major central bank to pause its tightening campaign. All 33 economists polled by Reuters agreed that the bank would hold its key overnight rate steady. At the same time, the BoC raised its growth forecast for this year to 1.4% from 1.0% in January. The bank cut its 2024 growth forecast to 1.3% from 1.8% in January, and said the economy would expand by 2.5% in 2025.

☆ The resilient job market is finally showing signs of cooling off
▼ + stars: | 2023-04-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The job market is clearly starting to slow down. Mohamed El-Erian said March's jobs report was a win-win for both the stock market and the Fed. "We are making this transition where the stock market was obsessed with interest-rate risk to one that is concerned about credit risk." What's your take on the latest job data? In other news:Traders works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.

☆ Buy these 13 stocks now to bet on a rebound in the unfairly punished financials sector, according to BMO Capital Markets
▼ + stars: | 2023-04-07 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

But strategists at BMO Capital Markets think the selling has gone too far. And while some economists are warning that storms are still on the horizon for the sector, that gloomy sentiment is nothing more than fear-mongering, according to BMO Capital Markets. BMO Capital MarketsThat weakness opens the door for traders to get deals in the beaten-down sector, Belski wrote. BMO Capital MarketsFinancials broadly are also historically cheap by any measure compared to the market, according to BMO, even though valuations aren't as heavily discounted as they were last fall. BMO Capital MarketsAnother sign of the sector's financial health is that the growth outlooks for both dividends and earnings look rosy.

☆ S&P 500 futures and Treasury yields gain on Friday as March labor report shows resilient economy
▼ + stars: | 2023-04-07 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

S&P 500 futures and Treasury yields increased on Friday during a holiday-shortened trading session after the March jobs report showed a resilient economy and moderate inflation. Futures on the Dow Jones Industrial average gained 55 points. The 2-year Treasury yield jumped 10 basis points to 3.93%. The 10-year Treasury yield added 8 basis points to 3.37%. Friday's jobs report runs counter to that weak data and is likely to divide investors.

The economy gained a net 34,700 jobs, almost entirely in the private sector, and the unemployment rate held steady at 5.0%, Statistics Canada reported. Analysts surveyed by Reuters had forecast that a net 12,000 jobs would be gained in March and the unemployment rate would edge up to 5.1%. Since December, the jobless rate has stayed just a notch above the record low of 4.9% observed in mid-2022. Thursday's jobs figures as well as robust GDP data released last week are likely to complicate the central bank's plans to avoid further rate moves. There were 18,800 full-time jobs added in the month, and 15,900 part-time jobs.

☆ US services sector growth slows; price pressures abating
▼ + stars: | 2023-04-05 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Despite the pullback in growth in the services sector, Anthony Nieves, chair of the ISM Services Business Survey Committee noted that "the majority of respondents report a positive outlook on business conditions." The services sector is being supported by consumers switching spending from goods, which are typically bought on credit. ISM services PMITRADE DEFICIT WIDENSWhile accommodation and food services businesses reported that "traffic is recovering and nearly flat," they added "we are optimistic about the coming months." With demand cooling, services sector inflation continued to subside, though it remains elevated. Services sector employment growth also moderated.

☆ U.S. consumer spending retreats in February; inflation cools
▼ + stars: | 2023-03-31 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

The slowdown in consumer spending reported by the Commerce Department on Friday followed the largest gain in nearly two years in January. Consumer spending, which remains supported by a tight labor market, appears on track to pick up this quarter after growing at its slowest pace in 2-1/2 years in the fourth quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2% last month. In the 12 months through February, the PCE price index advanced 5.0% after rising 5.3% in the 12 months through January. The so-called core PCE price index rose 4.6% on a year-on-year basis in February after gaining 4.7% in January.

OTTAWA, March 31 (Reuters) - The Canadian economy grew more than expected in January and is seen expanding further in February, data showed on Friday, results that are likely to fuel concern by the central bank that inflation has yet to be fully tamed. The economy gained by 0.5% in January, ahead of analysts' forecasts of a 0.3% rise, after contracting 0.1% in December, Statistics Canada said. The Bank of Canada became the first major central bank to pause interest rate hikes in March after increasing them at eight consecutive previous meetings. With the key overnight rate now at 4.5%, the bank said it would not raise rates again if inflation came down as forecast. While inflation has eased, falling to 5.2% in February from a high of 8.1% last year, the economy is expanding faster than the central bank had forecast in January.

☆ Apollo assures investors deposit flight won't spill over to Athene
▼ + stars: | 2023-03-30 | by ( Chibuike Oguh | ) www.reuters.com time to read: +5 min

Reuters GraphicsIn a quarterly update to shareholders published on March 13, Apollo outlined how Athene's funding model is different than a bank's. In the wake of the banking crisis, however, Apollo has been fielding questions from analysts and investors about Athene's funding model. Following a meeting with Apollo executives, Hone wrote in a note last week that he does not anticipate a spike in withdrawals from Athene's annuity holders and that Athene's funding base was stable. Apollo said in its March 13 presentation to investors that it had seen inflows of $8.8 billion to Athene from the start of the year to March 10. Questions from investors and analysts to Apollo have focused on this subset of annuity policies that have a potentially higher flight risk.

With markets increasingly volatile, BMO Capital Markets thinks investors should turn to a two-way strategy that provide returns and protection at the same time. The S & P 500 gained more than 1% last week, but it wasn't a smooth ride. Given this uncertain backdrop, BMO suggests relying on a dual-tiered approach encompassing growth at a reasonable price strategy, or "GARP," and a dividend growth barbell. The firm compiled a list of outperform-rated stocks that fit into the GARP or dividend growth themes. CF Industries and ConocoPhillips were also highlighted by BMO under their dividend growth strategy.

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