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2024-12-14 00:39:59

Macy's opened down 11%, the biggest drop since August 21st. On the news, the company lowered its profit forecast.Toronto stock index GSPTSE rose 0.21% to 25,558.81.Canadian Prime Minister Trudeau: The Bank of Canada's interest rate cut of 50 basis points is a correct step towards reducing the cost of living for Canadians.


The Dow Jones Internet Composite Index reported 1159.70, up 0.85%.Mackler, Governor of the Bank of Canada: As expected, the high housing inflation continued to ease, and the downward pressure of commodity prices on inflation eased.Barclays: M&A and cooperation between banks and financial technology companies will grow.


Damascus, the capital of Syria, lifted the curfew, and the "Syrian Sham Liberation Army" announced the lifting of the curfew in Damascus on the 11th, and called on the Syrian people to return to work. The political situation in Syria changed dramatically on the 8th. On the same day, the "Syrian Sharm Liberation Armed Forces" announced "the liberation of Damascus and the overthrow of the Assad regime" and curfew measures. The Syrian transitional government, with Mohamed Bashir as caretaker prime minister, officially took over power on the 10th. (Xinhua News Agency)Bank of Canada: Wage growth shows signs of slowing down, but wage growth related to productivity is still at a high level.If the Bank of Canada cuts interest rates by 50bp as expected, it is expected that the pace of interest rate cuts will slow down. The Bank of Canada cut interest rates sharply for the second time in a row this month, and hinted that policymakers are prepared to slow down the pace of monetary easing. The bank cut interest rates by 50 basis points to 3.25%, bringing borrowing costs to the upper part of their expected range of neutral interest rates. However, they also hinted that after the sharp interest rate cut expected by the market and most economists, there may be a smaller interest rate cut again in 2025. Officials dropped their previous statement that they expected to further reduce borrowing costs. "With the policy interest rate greatly reduced, we expect that if the economic development is generally in line with expectations, monetary policy will adopt a more gradual approach," Bank of Canada Governor Mackler said in a prepared speech. "Looking ahead, we will evaluate the necessity of further reducing the policy interest rate one by one."

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