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RBC forecasts historic correction, lowers outlook for housing
... decline seen in the country in the past 40 years, and has downgraded its outlook for the housing market. The Bank of Canada is going to hikes that will take its policy rate to restrictive levels by the fall, according to the report released Friday by RBC assistant chief economist Robert Hogue . He said that this will send more buyers to the sidelines, especially in British Columbia and Ontario, where affordability is extremely stretched. RBC now expects home sales to fall more than 23% this year ...
Updated: 07/27/2022
Meta’s upcoming reels, Ad system, short-video offerings to beat TikTok
.... Meta has the strongest first-party user data in the industry, but it also has credibility to restore before investors can get comfortable with maintaining its leadership position in digital advertising's secular growth, according to analysts from RBC Capital Markets . Zuckerberg told employees that the economy had worsened since executives first planned the Reels and Ad changes, and that they planned to expedite the transitions so that profits from the core business could fund Meta's long-term ...
Updated: 07/27/2022
Why Meta is betting big on short-video, ads
... to get through the period. Meta has the strongest user data in the industry, but it also has credibility to restore before investors can get comfortable with its leadership position in digital advertising's secular growth, according to analysts from RBC Capital Markets . Zuckerberg told employees that the economy had worsened since executives first planned the Reels and Ad changes, and that plans to expedite the transitions could fund Meta 's long-term metaverse bets. He said that our job is to ...
Updated: 07/26/2022
Walmart's inflation warning didn't surprise investors
... Evercore ISI cut their Walmart price target to $120 from $135. The magnitude of the miss is likely to keep them in the penalty box in the third quarter, according to analysts led by Greg Melich, although we thought Walmart would lower guidance in August. RBC analyst Steven Shemesh cut his price target to $135 from $153. Walmart is not immune to macro pressures but we remain of the view that it would fare better in a more pronounced slowdown than many of its peers, he said. The other question that analysts ...
Updated: 07/26/2022
RBC forecasts historic correction for housing market
... than any national decline seen in this country in the past 40 years. Inflation has put the Bank of Canada Bank of Canada on a course of aggressive hikes that will take its policy rate to restrictive levels by the fall, according to Robert Hogue , RBC assistant chief economist. He said that this will send more buyers to the sidelines, especially in British Columbia and Ontario, where affordability is extremely stretched. RBC believes home sales will fall more than 23% this year and 15% next year,...
Updated: 07/25/2022
Brent crude flat as EU allows Russian state-owned firms to ship oil
... India's demand for gasoline and distillate fuels rose to record highs despite higher prices, with total refined product consumption running at 18 per cent more than a year ago, and Indian refineries operating near their busiest levels ever, according to RBC analysts. Concerns about interest rate hikes that could slash demand and the resumption of Libyan crude oil output held back prices. Libya's oil production is more than 800,000 barrels per day bpd and will reach 1.2 million barrels per day by the ...
Updated: 07/23/2022
Twitter, Meta, Snap fall as Ad spending cuts hit growth
... shares were down 34.6% and were the most heavily traded across U.S. exchanges, as the company said it was looking for new sources of revenue to grow. The QQ of Snapchat owner's weak quarterly outlook confirms the fears that Ad spending is worsening, RBC Capital Markets said in a note. We believe there are signs of further Ad spending cuts for Snap and the digital ad sector. Meta and Alphabet are going to post quarterly results next week, while Pinterest is expected to report second quarter results ...
Updated: 07/22/2022
Oil steadies as demand weakens, supply picks up
... June, demand for gasoline and distillate fuels in India increased to record highs despite higher prices, with total refined product consumption at 18% more than a year ago and Indian refineries operating near their busiest levels ever, according to RBC analysts. RBC analyst Michael Tran said that this signaled a much more than a recovery from COVID-plagued years. On the supply side, the restart of output at several oilfields in Libya this week kept a lid on Brent 's gains. The European Central ...
Updated: 07/22/2022
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