The TSX continued its 45-day, 12-per-cent rally closing with a gain of 0.2 per cent.
The benchmark traded above its 200-day moving average, buoyed by Wednesday’s U.S. Fed minutes in support of more moderate rate hikes, as well as today’s reduction of reserve requirements for cash lenders by China’s central bank, both of which raise the probability of a protracted bull market on the back of easing inflation.
While they remain down by 3.8 per cent YTD due to a slowing global economy, Canadian stocks have been tracking similar rallies from their U.S. and Developed International counterparts, generating optimism for upcoming Canadian economic growth data for September and earnings from the Big Six banks.
To provide a dose of balance, former Bank of Canada Governor Stephen Poloz, stated that higher Canadian debt levels will make the ongoing tightening cycle more impactful than anticipated. He made the remark at a conference hosted by Western University’s Ivey Business School in Ottawa on Thursday.
These impacts may come in the form of higher unemployment, lower wages, and increased foreclosures, which could bring about a correction in Canada’s overpriced real estate market.
Though Poloz admits that supply chain disruptions are beginning to ease, he believes it will take up to two years to determine whether monetary policy was heavy-handed or undershot its mark.
In his estimation, the key to minimizing current market uncertainty is a clear trade policy, enabling consistent investment and productivity regardless of the economic climate.
Analyst consensus forecasts a 0.25-per-cent hike by the Bank of Canada during its meeting on December 7, which would match its lowest of the cycle on March 2, 2022.
The step-down in hawkishness, compared to July’s 1-per-cent hike, aligns with current Bank of Canada Governor Tiff Macklem’s statements at a Senate committee earlier this month, where he affirmed that the central bank is nearing the end of its tightening campaign.
With tentative optimism in the air, our investor community has been busy considering allocation opportunities in prospective industries. These include energy, a beneficiary of higher prices; internet media and entertainment, a marketing vertical with a long runway amid increasing global connectivity; and health care, an industry riding a wave of positive post-pandemic sentiment:
Trillion Energy (CSE:TCF) announces flow test results for the Akcakoca-3 natural gas well
Trillion Energy announced flow test results for its Akcakoca-3 natural gas well at the SASB gas field in Turkey.
The company identified three sands with a total of 34 m of natural gas pay. Upon the first perforation of the upper 7-metre zone, the well experienced a pressure buildup up to 7 MMcf/d (32/64” choke). Wellhead pressure measured 1,400 psi.
The news coincides with oil price resilience at 5-year highs and tightening supply into the winter months due to sanctions on Russian crude and Russian retaliatory measures, namely the curbing of Nord Stream pipeline flows from European consumers.
CEO Arthur Halleran sat down with Daniella Atkinson to discuss new production and next steps moving forward.
Trillion Energy (TCF) closed up by 3.13 per cent over the past week, trading at $0.50 per share.
Gamelancer’s (CSE:GMNG) owned & operated network exceeds 34 million followers
Gamelancer’s community of 27 channels has surpassed 34 million followers on TikTok, Instagram and Snapchat.
Growth has been steady at over 1.2 million new followers per month.
The company has also amassed over 486 million likes on TikTok since 2019.
President and COO Mike Cotton joined Sabrina Cuthbert to discuss the numbers.
Gamelancer’s total network garners 1.8 billion views per month, representing a key catalyst for brands seeking to expand their audiences through the company’s analytics-enabled short-form content creation service.
The company already boasts long-term partnerships with Samsung, Belkin and RBC, positioning it for long-term growth through the generation of positive shareholder value.
Gamelancer Media (GMNG) closed down by 6.45 per cent over the past week, trading at $0.14 per share.
PreveCeutical (CSE:PREV) files an application for D-amino acid peptides
PreveCeutical has filed a Patent Cooperation Treaty application for D-amino acid peptides.
The patent aims to protect the purported ability of certain peptides to treat brain cancer.
These peptides, isolated from Caribbean Blue Scorpion venom, have the potential to work as MMP inhibitors based on anecdotal findings.
CEO Stephen Van Deventer sat down with Sabrina Cuthbert to discuss the news.
The company’s positive results from preliminary peptide screening are expected to lead to therapeutics that inhibit a target protein implicit in the progression of certain brain cancers.
Given that the company is actively seeking partners to bring potential treatments to market, investors keen on exposure to asymmetric returns may stand to benefit, contingent on due diligence and the results of future comprehensive screening assays.
PreveCeutical (PREV) closed unchanged over the past week, trading at $0.025 per share.
