June 17, 2024

CPS

Travel Adventure

Canada becomes first G7 central bank to cut interest rates this cycle; Nvidia’s market value crosses $3tn

1 min read

Lululemon: The sportswear retailer is expected to report a 6 per cent increase in first quarter net income on 9.6 per cent revenue growth compared to a year ago, as demand for its apparel holds up despite persistent inflation.

Other companies: Dollar Tree, Brown Forman and Campbell Soup will report earnings before the bell. Five Below will report results after the markets close.

Canada rate decision: The Bank of Canada is expected to cut rates at its meeting today by 0.25 percentage points, becoming the first G7 nation to cut rates this year. Last month, government data showed that headline inflation in April eased to 2.7 per cent from 2.9 per cent.

ISM services: Activity in the US services sector is expected to have rebounded in May to a reading of 50.8 from a reading of 49.4 in April. A figure above 50 indicates that the sector is expanding.

US private payrolls: ADP will release its US employment report for May, which will give insight into the labour market before the official government figures on Friday. Private payrolls are expected to have added 175,000 jobs in May, compared with the 192,000 added in April.

Biden: The US president will arrive in France as he joins other world leaders for the 80th anniversary of D-Day on Thursday.

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