Trade Figures Due Next Week on Both Sides of Border

Monday

U.S.

Economic Lookahead

Consumer Credit (April)

Featured Earnings

Marvell Technology Inc. (NASDAQ:MRVL) (Q1) EPS projected for 19 cents, compared to nine cents in the prior-year quarter.

Coupa Software Incorporated (NASDAQ:COUP) (Q1) EPS projected for loss of $1.01, compared to a loss of 14 cents in the prior-year quarter.

Vail Resorts, Inc. (NYSE: MTN) (Q3) EPS projected for $6.67, compared to $3.74 in the prior-year quarter.

Canada

Featured Earnings

Advantagewon Oil Corp. (C.AOC) (Q1) EPS projected for loss of seven cents, compared to a loss of one cent in the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

Trade Deficit (April)

Job Openings (April)

Featured Earnings

GameStop Corporation (NYSE:GME) (Q1) EPS projected for loss of 56 cents, compared to a loss of $1.61 in the prior-year quarter.

Casey’s General Stores, Inc. (NASDAQ: CASY),(Q4) EPS projected for 67 cents, compared to $1.67 in the prior-year quarter.

Thor Industries (NYSE THO) (Q3) EPS

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The environmental case for remote working

During the pandemic, the environmental and societal benefits of working at home quickly became apparent. How can businesses protect these benefits in the future?

Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19. 

There have been related societal benefits, too – the result of people cutting the commute and working at home. And while nobody denies that these are good things, the question is whether businesses will choose to protect them once the crisis has passed. 

The environmental impact

When the world went into lockdown in March 2020, the impact on the environment was seen almost immediately. On 19 March, researchers from Colombia University told the BBC that carbon monoxide, mainly from cars, in New York had been … Read the rest

TSX Falls Just Short of Breakeven

Stocks in Toronto got to the precipice of breaking even to Thursday, but then fall back, with resource stocks weighing heavy on proceedings.

The TSX fell 29.76 points to conclude Thursday at 19,941.39.

The Canadian dollar docked 0.44 to 82.61 cents U.S.

Among utilities, Boralex gained 69 cents, or 1.8{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $37.76, while Altagas took on 38 cents, or 1.6{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $24.70.

In the financial area, Canaccord Financial Group zoomed 81 cents, or 6.1{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $14.14, while Intact Financial jumped $5.59, or 3.4{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $169.22.

In techs, Descartes Group popped $4.53, or 6.4{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $75.00, while Alithya Group prospered 20 cents, or 6.6{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $3.22.

Resource stocks did not do so well, however, with Alamos Gold dropping 45 cents, or 4{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $10.72, while Equinox tumbled 53 cents, or 4.7{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $10.67.

Elsewhere, Endeavour Silver lost 54 cents, or 6{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $8.48, while New Gold dipped 19 cents, or 7.1{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, … Read the rest

How Thai economy began to be affected by the third wave of COVID-19

In April 2021, the Thai economy began to be affected by the third wave of the COVID-19 outbreak according to a report published by the Bank of Thailand.

Private consumption indicators declined from the previous month in all spending categories. Private investment indicators dropped from the machinery and equipment category. Meanwhile, the tourism sector has not recovered as international travel restrictions remained.

However, merchandise exports continued to improve in line with trading partners’ demand which subsequently supported production in the manufacturing sector. Public spending continued to play a role in supporting the economy.

On the economic stability front, headline inflation rate accelerated as the government’s subsidies on electricity and water bills were terminated as well as due to the low level of energy prices in the same period last year.

The labour market remained vulnerable. The current account posted a slightly higher deficit than the previous month.

Details of the

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S&P Still Hover Near Record

Stocks rose slightly on Wednesday with the S&P 500 hovering near an all-time high.

The Dow Jones Industrials gave back some of its gains but still finished positive 25.07 points at 34,600.38

The much-broader index gained 6.08 points to 4,208.12.

June is historically a weak month for stocks, but Instinet points out that the S&P 500 has had a better track record recently, gaining every June since 2016.

The NASDAQ grabbed 19.85 points to 13,756.33.

All three indexes are fairly close to record levels. The Dow is to within 1.4{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8} of its all-time peak, while the NASDAQ is 3.2{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8} below its record.

Energy stocks again outperformed the broader market on Wednesday as crude prices continued their recent rebound. Investors have snapped up shares of some of the nation’s largest oil and gas companies in recent sessions as optimism about the economic rebound in the U.S. fosters demand for crude, airfare … Read the rest

Asia Pacific: Recovery delayed but not derailed

The ASEAN-6 economies have experienced a surge in Covid-19 cases since the start of 2021, which has led to the reinstatement of social distancing measures.

Thailand has recorded over 120,000 cases since April against less than 7,000 in all of 2020. At the other end of the spectrum Singapore and Vietnam averaged 5 and 1.1 per million new cases a day in May, which is still very low regionally and globally. In the case

This has dimmed, but not derailed the regional economic recovery; we have lowered our 2021 GDP growth forecast to 4.9{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8} (from 5.5{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8} previously). Our forecast is for growth to improve to 6.5{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8} in 2022 as countries move closer to herd immunity and the recovery becomes more synchronised across sectors.

After being lauded for their successful containment of Covid-19 in 2020, the ASEAN-6 economies have experienced a surge in cases since the start of the year.

New … Read the rest

Stocks Start June Flat Despite Oil Rally

U.S. stocks posted modest gains on Tuesday as optimism about the economic reopening managed to offset lingering angst about inflation and price pressure.

The Dow Jones Industrials gained 46.25 points to close Tuesday at 34,575.70, after gaining as many as 300 points after the opening bell in New York.

The S&P 500 deleted 2.04 points to 4,202.07, as weakness in technology stocks offset gains made in energy, materials and financials.

The NASDAQ dipped 12.26 points to 13,736.48,

Markets in the U.S. were shuttered Monday for Memorial Day.

The Dow gains came as COVID cases continue to decline and vaccinations rise in the U.S. In a major milestone, more than half the U.S. population has received at least one dose of a COVID vaccination, according to data posted by the Centers for Disease Control and Prevention.

The improving domestic coronavirus situation, coupled with the arrival of summertime weather, sparked another day … Read the rest

Thailand confirms Phuket’s reopening date of July 1st

The Thai government has confirmed its plan to reopen Thailand to foreign tourists, starting with Phuket province as a pilot destination on July 1st, using the Phuket Sandbox model.

Visitors who travel by air to Phuket must provide documents to prove that they have received both COVID-19 vaccine doses. They are required to undergo rapid antigen tests, or reverse transcription polymerase chain reaction (RT- PCR) tests, at their place of origin, and to register on www.gophuget.com and the MorChana application.

129,000 visitors

The TAT aims to attract 129,000 visitors to Thailand in the third quarter of this year, through the “Phuket Sandbox” project, where fully vaccinated tourists, who have tested negative for COVID-19, can visit Phuket for a minimum period of seven days, before travelling to other provinces with airports.

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Winning Streak on TSX Cools off a Mite

It was just a matter of time, but elements threw cold water on the upward momentum of Canada’s largest market as weakness in health-care and consumer stocks outdid gains by energy issues.

The TSX tumbled 121.19 points from Friday’s all-time high to conclude Monday at 19,730.99

The Canadian dollar eked up 0.10 cents to 82.88 cents U.S.

Even so, Reuters poll of strategists predicted that the main index will climb above the 20,000 mark by the end of 2021 as a recovery in the global economy from the coronavirus crisis boosts the outlook for resource stocks.

Health-care stocks weighed heaviest on the index, with Cronos Group fading 59 cents, or 5.5{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $10.22, while Organigram Holdings lost 16 cents, or 4.2{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $3.68.

Consumer discretionary stocks also got pounded, Sleep Country handing back 63 cents, or 2.1{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $29.39, while Aritzia descended 42 cents, or 1.4{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8}, to $29.33.

In consumer … Read the rest

Thai exports rise 13{144f68ac4ecc1edec14c4f3869e0ee83d6cd3317dcfb7aededc0da78b8f74bc8} in April

BANGKOK (NNT) – Despite the continuing hindrance of COVID-19, expanding exports and state consumption have turned the Thai economic trend positive.

Fiscal Policy Advisor Wuttipong Jittangsakul, reported today that Thai exports rose to over 21 billion USD in value in April, growing 13.1 percent on-year, the highest rate in 36 months.

Best performing goods included vehicles and automotive accessories, agricultural and goods and foods, and related work-from-home items. The nation’s top trading partners continued to be the United States, China, the European Union and South Asia.

Private consumption also improved on the same period last year. New car registrations soared 65.8 percent, in line with a 9.8 percent expansion in agricultural revenue.

Passenger car sales grew a huge 92.4 percent despite dropping slightly from March as consumer confidence fell from 48.5 points to 46, due to concerns to do with the latest wave of COVID-19 infection. Nonetheless, stimulus measures such … Read the rest