- Stephen Poloz sees signs of ‘real progress’ in Canada’s economy . – Stephen Poloz – Bank of Canada Governor is predicting Oil prices may stagnate around $50 . I own ENB and have made a decent gain on it to date. This makes me wonder if I should maybe sell. I will hold till I find another opportunity and then I will sell.
- US Fed keeps Rates Steady – Initially they had predicted last year that they will be raising the rates 4 times this year, however due to the overall state of the global economy they are keeping the rates steady. If you ever wonder what happens when a rate hike occurs : you can find out here . As many things in the market there is no set path, however overall it is not good for equities. Rising rates discourages investment into equities and discourages consumer spending. The cost of borrowing is higher.
- Stocks I looked at based on BNN’s top picks: EFN-T. One year target is $19/20 , it is currently trading at $14.93. I didn’t find anything interesting about this stock.
- Stocks I looked at based on BNN’s top picks: ATD-B.TO – Grocery Store Industry. Not finding it interesting.
Based on the limited time I had to prepare for market open today, I was not able to find a pick for today. Will need to allocate more time to make some picks.