Happy Holidays, Investors!
Happy Friday and Happy Holidays, Investors! 🎄🎁 As the year winds down, the markets are still making moves, which makes it the perfect time to stuff your portfolio’s stocking. Enjoy today’s BTV - Business Television update filled with stock market insights and investment opportunities in Mining, Tech, ETFs, Bio, and more.
Stay ahead this season with B-TV’s latest feature. Visit www.b-tv.com to receive push notifications for breaking news and exclusive updates so you can unwrap market potential before anyone else!
4 Minute Read:
Here's how some major markets/indexes performed in the last 5 days:
Dow Jones: 43,035 (-1.80%)
S&P 500: 5,958 (-1.74%)
Nasdaq 100: 21,445 (-1.99%)
TSX: 24,671 (-2.31%)
BTC: 97,634 (-6.38%)
Ethereum: 3,475 (-12.07%)
(USD)
As of 12/20/2024 at 11:30AM PST
📉 Inflation Cools, But Groceries Stay Hot
Canada’s inflation rate ticked down to 1.9% in November from 2% in October, marking a milestone as it edges below the Bank of Canada’s 2% target. However, grocery bills remain stubbornly high, climbing 2.6% year-over-year as food costs continue outpacing overall price growth.
Why it matters: The drop in inflation signals some success in the Bank of Canada’s efforts to stabilize prices, potentially paving the way for sustained rate cuts. However, the divergence in grocery costs highlights lingering pressures on household budgets, keeping many Canadians feeling the squeeze.
Bottom line: While falling inflation offers some relief, uneven price trends show that not everyone is feeling the benefits just yet. The BoC’s next move will shape how quickly households see broader cost-of-living improvements.
Centurion Asset Management Inc.
Centurion Asset Management, Canada’s largest private apartment REIT, provides a reliable investment solution through its diverse real estate portfolio, offering consistent income and long-term growth potential.
Lexaria Bioscience
(NASDAQ: LEXX)
Lexaria Bioscience is setting new standards in drug delivery with its patented DehydraTECH™ oral technology, optimizing absorption for GLP-1 and other high-demand drugs.
🚗 Retail Sales Rev Up with Auto Boost
Canadian retail sales edged up 0.6% in October, powered by strong demand for vehicles, according to the latest data from Statistics Canada. Auto sales led the charge with a 3.2% surge, offsetting declines in other categories like furniture and electronics.
Why it matters: The numbers highlight the resilience of Canada's economy amidst mixed signals. While rising car sales are good news for manufacturers and dealerships, the underlying data suggests discretionary spending remains subdued, reflecting cautious consumer sentiment in an environment of high borrowing costs.
Bottom line: The retail sector shows some glimmers of hope, but with interest rates still weighing on household budgets, the broader picture remains murky heading into 2025.
📢 This Week's Selected Company News:
Agnico Eagle Mines Limited Launches All-Cash Offer to Acquire O3 Mining
Agnico Eagle Mines Limited has commenced a friendly, board-supported all-cash offer to acquire O3 Mining Inc. for $1.67 per share, representing a 58% premium to O3’s closing price on December 11, 2024. The transaction, supported by shareholders holding 39% of O3’s outstanding shares, includes the Marban Alliance project in Québec, bolstering Agnico Eagle’s portfolio. The offer, open until January 23, 2025, highlights Agnico Eagle’s continued expansion in the gold mining sector.
GameSquare Holdings Inc. Teams Up with Nickelodeon for SpongeBob-Themed Fortnite Campaign
GameSquare, in collaboration with Nickelodeon, has launched an exciting new SpongeBob SquarePants-themed campaign in Fortnite using Unreal Editor for Fortnite (UEFN). This innovative campaign brings Bikini Bottom to life, offering fans an immersive gaming experience featuring iconic characters and environments. By blending cutting-edge technology with beloved pop culture, GameSquare continues to revolutionize branded content in the gaming space.
Lexaria Bioscience’s Registered GLP-1 Study #4 Begins Dosing
Lexaria Bioscience has commenced dosing in its registered GLP-1 Study 4, a significant step in evaluating its DehydraTECH™ technology for oral GLP-1 drug delivery. This cutting-edge study will focus on safety and pharmacokinetic performance, with potential implications for enhancing treatment options for diabetes and obesity. Lexaria continues to lead in innovation, aiming to revolutionize therapeutic delivery methods.
Sandstorm Gold Royalties
(NYSE: SAND, TSX: SSL)
Sandstorm Gold Royalties offers investors a unique opportunity to invest in gold through a diversified portfolio of mining royalties, providing a stable and promising avenue in the volatile investment landscape.
Stardust Power, Inc.
Stardust Power is establishing a major lithium refinery in Oklahoma to support the growing demand for battery-grade lithium in the U.S. energy sector.