Day: June 8, 2021

Credit Card Debt Down to its Lowest Level in 6 Years TORONTO, June 08, 2021 (GLOBE NEWSWIRE) — While most consumers are ratcheting back on their credit card debt, homebuyers have pushed new mortgage volumes to unprecedented levels according to Equifax Canada’s most recent report on consumer credit conditions. New mortgages are up 41.2 per cent in Q1 compared to Q1 2020 and the average limit on new mortgages grew by 20.5 per cent to $326,930.  Overall consumer debt now stands at $2.08 trillion, up 0.62 per cent from last quarter and up 4.78 per cent from Q1 2020. Much of the new mortgage growth adding to the overall debt was driven by B.C. and Ontario, which saw jumps of 59.2 per cent and 44.3 per cent in volume respectively compared to Q1 2020. “Low interest rates and speculation around U.S. inflation impacting our interest rates...

VANCOUVER, British Columbia, June 08, 2021 (GLOBE NEWSWIRE) — P2 Gold Inc. (“P2” or the “Company”) (TSX-V:PGLD) reports it has initiated a metallurgical program for its gold-copper Gabbs Project, located on the Walker-Lane Trend in Nevada, and plans to undertake a drill program at Gabbs in the third quarter. Sullivan Zone Metallurgical Program Two 36-kilogram metallurgical samples have been collected from surface locations within the Sullivan Zone. Assay results from the two metallurgical samples have returned gold and copper values consistent with historic drilling by prior operators in this location. See Table 1 below for assay results. Table 1: Sullivan Zone Composite Sample Results, June 2021 (1)Sample Gold Grade(gpt) Copper Grade(%)Met – 1 0.88 0.50Met – 2 1.32 0.54(1)      Samples were submitted for...

The company’s technologies and services are often used in the development, design and production of different industries, such as aerospace automotive, dental, entertainment, healthcare and ever durable goods. In 2020, the 3D Systems stocks (DDD) have been trading almost flat for a whole year without much change. However, since Jan 2021, the stocks started climbing and the reason behind are several factors. The 2020 Q4 earnings report showing better than expected was the starting boost that the company received, which reflects Q4 revenue of about 3% to 7% exceeding analyst estimates by as much as 24% at midpoint range, allowing their stocks to jump start on January 7 of 2021. 4th quarter profits also went above the expected $140 million to the revenue amounting $170 million to $176 million. The increase that day was more than 100%...

Its business model revolves in having sellers paying Redfin a fee, about 1 or 1.5%, to list the sellers home, which is a big discount compared to other competition’s rates. Last May 6, Redfin’s shares started to drop after the company posted their first quarter earnings report which reflects strong revenue growth. Though the company was called out for missing the targets on the bottom-line losses, resulting to being guided to bigger losses on the second quarter. Redfin stock market value dropped by 17.6% on May 6. A housing boom was experienced on the first quarter of 2021, reflecting positive outlook of Americans about the vaccine rollout and pandemic recovery. Amidst this, Redfin was able to deliver a top-line growth with its revenue recording 40% increase to $268 million, which exceeded the expected $253.3 million by analysts. The...

Tech stocks outperformed pulling NASDAQ ahead of the other 2, while investors continue to contemplate if the inflation will be able to curb the rebound from the increase in economic activity from pandemic recovery. The data presented last Tuesday about consumer confidence dropping last April even after most of the pandemic standards are being pulled back is also affecting the movement in the market. FOMC continues to be firm that such inflation is short-term and does not require policy updates as of the moment. They also mentioned that it will definitely be part of the upcoming meetings but implementation will depend of the flow of data. Stocks continue to trade in a choppy market with a mixture of ups and downs. Traders are given a heads up that these inflationary pressure and price increase signals are just part of the economic recovery. Stocks: •...

This print from April’s consumer confidence was released Tuesday, along with the headline sentiment index for the Conference Board which is also lower compared to last month. The Conference Board noted that some of the declines are temporary or short-term due to inflation concerns that is widely affecting the market. Another report released Tuesday morning was about the home prices surging the most in about 15 years last March, reflecting the current status of the economy where the supply is not meeting the demands causing price increase. Despite this, the Federal Open Market Committee (FOMC) strongly believes that all of these are short-term and if ever that the rising prices continues, minor changes for the monetary policy shall be implemented temporarily. They also stated that it is not good to be overly reliant on historical...