News

[ad_1] Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors. Cooling inflation leads to red-hot day for the markets Part of being neighbours with the most powerful country in the world is that sometimes their news tends to get reported with a louder megaphone than our own—even in our own backyard. That was certainly the case in business news this week as the U.S. consumer price index (CPI) data was released. October’s year-over-year inflation came in below expectations at 7.7%, which is down from 8.2% in September. The S&P 500 shot up 5.5% in response, the 15th-largest daily gain for the index since 1950.  The TSX also rose that day, up a strong 3.3%. Expectations of a 0.75% rate increase at the next U.S. Federal Reserve funds meetings decreased as traders started to lean towards only a 0.5% increase. The drastic movement we saw in the markets around the world illustrates just how important U.S. interest rate moves are right now. Hopefully this deceleration of prices allows the Fed the breathing room they feel they need to stand back and observe before taking more dramatic actions. Several really smart investment folks are getting nervous or downright hostile about the risks that the Fed is courting by raising interest rates so quickly.  On a recent Masters in Business podcast, guests chief investment officer Jeremy Schwartz and investing prof Jeremy Siegel broke down why they’re scared of overtightening. Considering these two market gurus just put the finishing touches on the sixth edition of Stocks for the Long Run, I’d say their predictions are much more worthy of consideration than most. This book is commonly cited as the most authoritative text on historical returns of the U.S. stock market. The other big news story this week was, of course, the U.S. midterm elections. When we get past the pageantry that is the U.S. electoral process, we see that the markets generally embrace the idea of a “split government.” This is due to the fact that investors enjoy stability. And, in this polarized age, it is quite unlikely that major corporate tax legislation is bound to change much with a Democratic president likely to veto any proposed changes from the Republican House of Representatives. Perhaps some of this “no changes needed” psychology is behind the fairly large outperformance of the U.S. stock market in years that follow midterm elections. That said, the S&P 500 dropped 2% on Wednesday (before skyrocketing on Thursday) likely due to a mix of general unease with the yet-to-be-determined makeup of the new Congress, along with a slight pro-business bias that a stronger Republican turnout would have spurred. Source: Forbes Disney’s returns aren’t magical To wrap up U.S. markets before moving on to Canadian happenings, earnings season is beginning to tail off for our neighbours to the south. Here’s a look at a few notable reports this week. (Disney and Mosaic report in U.S. dollars, while BioNTech reports in euros.) Disney (DIS/NYSE): Earnings per share of $0.30 (versus $0.55 predicted) and revenues of $20.15 billion (versus $21.24 billion predicted). BioNTech (BNTX/NASDAQ): Earnings per share of €6.98 (versus €3.42 predicted) and revenues of €3.46 billion (versus €1.90 billion predicted). Mosaic (MOS/NYSE): Earnings per share of $3.22 (versus $3.40 predicted) and revenues of $5.35 billion (versus $5.78 billion predicted). Disney’s substantial earnings miss was a pretty big surprise and share prices fell 8% on Tuesday after earnings. While Disney+ had a solid quarter in terms of adding more accounts than analysts predicted, Disney’s streaming companies still aren’t even close to profitable. With the rest of the company not bringing in quite the anticipated profits, investors were quick to punish “The House of Mouse.” German company BioNTech (listed on the NYSE via depositary share) also had a rough quarter.  With COVID-19 waning, analysts had predicted a massive earnings drop. While the biotech standout did see profits drop 43% year-over-year, that wasn’t quite as bad as many in the industry had predicted. Consequently, shares actually rose 4.2% on Tuesday after the earnings announcement. Mirroring its Canadian competitor Nutrien’s (NTR/TSX) disappointing earnings results from last week, potash and fertilizer heavyweight Mosaic also saw their share price take a hit. That said, despite the massive fall from $78 per share in April to today’s $49.63, Mosaic is still up over 23% on the year. Here’s a quick comparison of the Canadian versus American plays on potash/fertilizer scarcity. Source: Google Finance Source: Google Finance  Canadian pipelines continue to pump profits If you want to profit from Canada’s natural resource bonanza without direct exposure to the volatile price of oil, then pipelines seem like a logical choice. As long as oil and natural gas flow, these companies should continue to make money and pay dividends. All values in this section are in Canadian dollars. Enbridge (ENB/TSX): Earnings per share of $0.67 (versus $0.66 predicted) and revenues of $11.57 billion (versus $12.97 billion predicted). Keyera (KEY/TSX): Earnings per share of $0.56 (versus $0.46 predicted). TC Pipelines (TRP/TSX): Earnings per share of $1.07 (versus $0.99 predicted) and revenues of $3.80 billion (versus $3.65 billion predicted). Pembina Pipelines (PPE/TSX): Earnings per share of $1.32 (versus $0.61 predicted) and revenues of $2.78 billion (versus $2.53 billion predicted). Investors largely got what they paid for this quarter. Sometimes no news is good news. Demand for pipeline capacity remains strong, and supply remains severely constrained. (For more reading, visit milliondollarjourney.com.) As long as oil and natural gas companies are willing to do anything they can to get their products to market, the profit margins and overall revenues for these midstream operators should stay at their peak. With all four companies paying a dividend close to 6%, getting what you paid for is a pretty good deal! The best ETFs in Canada read now Insurance company investors need coverage for their portfolio  Here’s looking at other Canadian earnings this week. Stay tuned next week for a roundup of the Brookfield family

[ad_1] There are many ways to build long-term wealth without an actual J-O-B. Having enough income-producing assets working in your favor can make it possible to “live rich” – or at least get by – without ever having to clock in for an employer again. It’s why you see all kinds of wealthy people retiring early without having to change their lifestyles. These people have income-producing assets spinning off profits or dividends, and they use those funds to pay for their bills and lifestyle. When it comes to income-producing assets, more is always better! In fact, having multiple income sources is the best way to feel secure when you’re relying on alternative income sources to leave your 9 to 5. Table of Contents What Are Income-Producing Assets? #1: Dividend Paying Stocks #2: Real Estate Crowdfunding #3: Rental Properties #4: Digital Real Estate #5: Online Savings Vehicles  #6: Traditional Stock Market Investing #7: Farmland Investments with FarmTogether #8: Digital Products  #9: Renting Your Car #10: Renting Out Your Own Home #11: Mineral Rights #12: Short-Term Vacation Rentals #13: Annuities #14: Owning Your Own Business #15: Investing in Small Businesses #16: Art Investing #17: Bonds  #18:  Alternative Investments  #19: Cryptocurrency #20: Online Brands #21: Royalties The Bottom Line on Adding Income Generating Assets What Are Income-Producing Assets? But what are income-producing assets, anyways? While the definition can be somewhat vague, they are assets that generate reliable income or cash flow over time. Income-producing assets help you earn money while you sleep, and we all know what Warren Buffet had to say about that: “If you don’t find a way to make money while you sleep, you will work until you die.” – Warren Buffet If you want to avoid working until you die, you must have some income-producing assets working on your behalf. Let’s review some of the best ones to consider for your portfolio and how they work. #1: Dividend Paying Stocks Dividend stocks are one of the easiest income-generating assets to get into because you can start with small sums of money. What separates dividend stocks from other types is the fact that they pay out dividends, or recurring income, to their investors. Dividend stocks are also issued by the most profitable companies, so they are seen as less risky. A wide range of stocks from various sectors, along with ETFs and mutual funds, can all offer dividends, making it possible to craft a dividend stock portfolio that suitds your needs and goals. Conversely, expense ratios for dividend mutual funds and ETFs can be higher than for non-dividend options. With that in mind, you’ll want to do plenty of research and compare ongoing expenses carefully before you dive in. If you’re looking for a place to invest in dividend stocks, I recommend you check out Robinhood since it lets you invest with no fees or commissions, or M1 Finance, which lets you invest in fractional shares of dividend stocks. #2: Real Estate Crowdfunding Real estate crowdfunding is another option to consider if you want an income-producing asset with a low barrier to entry. With crowdfunding, you are pooling your money with other investors, and the company overseeing the plan invests that money into different types of real estate. Fundrise, one of the most popular real estate crowdfunding platforms, allows you to get started with as little as $10. Your investment is placed into commercial and residential real estate developments. From there, you can secure a regular return on your funds based on the rental income produced by the underlying real estate investments in your portfolio. While Fundrise hasn’t been around forever, they do have solid gains to report so far. For example, Fundrise clients achieved an average return of 7.31% in 2020, 22.99% in 2021, and 5.52% during the first half of 2022. #3: Rental Properties If crowdfunding real estate isn’t for you, consider becoming a landlord. This strategy can work with both commercial and residential real estate, although the barrier to entry is much higher than real estate crowdfunding. In most cases, you’ll need a minimum of 20% down to purchase an investment property – to buy a rental property worth $300,000, you would need a minimum of $60,000 in cash just to get started. Many people leverage a strategy known as house hacking to get around real estate’s high barrier to entry. Here’s how it works. You purchase a multi-unit property and live in one of the units while renting the others out. This way, you can qualify for more traditional mortgage products with lower down payment requirements. Buyers can even use a first-time homebuyer program like the FHA loan to purchase properties with up to four units and as little as 3.5% down. Whichever way you go, rental properties are an ideal income-producing asset as they generate regular monthly income. Just remember that being a landlord isn’t for everyone – there will always be bumps in the road if you manage your properties yourself. #4: Digital Real Estate Another income producing asset comes in the form of digital real estate. Funny enough, you are currently occupying space on my own piece of digital real estate – this website. You are on my lawn right now, and that’s okay with me! Why? Because I earn commissions when you click on affiliate links and buy stuff, and from the display ads you see on the page. Good Financial Cents has been around for over a decade, and I have used it to earn millions of dollars blogging along the way. In addition to websites like mine that earn income through traffic and affiliate sales, other types of digital real estate include: Assets held in the metaverse Authority websites that focus on a specific niche eCommerce stores that sell physical products Digital products such as courses and printables Domain names bought and sold for profit Email lists that are built and sold for profit Membership groups that require a monthly or annual fee While getting started in digital real

[ad_1] Democrats seal control of U.S. Senate with win in Nevada  Reuters Catherine Cortez Masto defeats Adam Laxalt in Nevada, clinching control of Senate for Democrats  Yahoo News Democrats maintain control of the Senate  KTLA 5 Catherine Cortez Masto wins Nevada Senate election in 2022 midterms  MSNBC Midterms Updates: Democrats Keep Control of Senate With Victory in Nevada  The New York Times [ad_2]

[ad_1] If you’re a part of the military community, don’t miss out on all of these Veterans Day freebies you can score! {Love free stuff? Don’t miss out on this big list of 50 FREEBIES you can also sign up for right now, plus be sure to check out our latest Free Food Deals!} Veterans Day Freebies 2022 Are you a veteran or know someone who is? Don’t miss all of these great Veterans Day freebies and deals that you can score on Friday, November 11th! All of these deals are valid for veterans and active duty military on Friday, November 11th, unless specified otherwise. Applebee’s: FREE entree of your choice from a special menu selection. California Pizza Kitchen: FREE entree and beverage of your choice from a special menu selection. Chili’s: FREE entree of your choice from a special menu selection. Dunkin’ Donuts: FREE donut of your choice. Golden Corral: FREE meals on Monday, November 14th, from 5 p.m. to close. IHOP: FREE Red, White, and Blueberry Pancakes. Little Caesars Pizza: FREE lunch combo. Pilot Flying J: FREE meal. Red Lobster: FREE Walt’s Favorite Shrimp, Fries, and Coleslaw meal. Red Robin: FREE Red’s Tavern Double Burger and Bottomless Steak Fries. Shoney’s: FREE All-You-Care-To-Eat Breakfast Bar until 11 a.m. on November 11th. Wendy’s: FREE Breakfast Combo. White Castle: FREE Combo Meal. U.S. National Parks: FREE entry for all visitors. Military ID is typically required for these Veterans Day Freebies. Valid only on November 11, 2022. Do you know of any other freebies we missed? Let us know in the comments! [ad_2] Source link

[ad_1] Musk warns of Twitter bankruptcy as more senior executives quit [ad_2] Source link

[ad_1] Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the peak of inflation and close to the end of the Fed rate hike cycle? Let’s take a look at today’s data. From the CPI report: The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a seasonally adjusted basis, the same increase as in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all-items index increased 7.7 percent before seasonal adjustment. The estimates for the CPI inflation data were for 7.9% year-over-year growth. Some people in the markets had speculated that the data would come in even hotter than anticipated —some whisper numbers were for 8.2% – 8.4% year-over-year growth. This of course led some people to believe that bond yields and mortgage rates would go much higher today. However, the report came in at 7.7% — lower even than the forecast. As a result, mortgage rates went from 7.37% yesterday to 6.67% as of this writing. On Thursday morning, the 10-year yield had a big rally, and bond yields headed lower (see above) and mortgage rates will be below 7% today. What a difference a year makes — now we’re excited to see mortgage rates getting below 7%! But it makes sense when you consider that over the last 52 weeks, mortgage rates have ranged from 3.14% to 7.37%. One of my talking points with inflation data is that the biggest driver of core inflation is shelter, and this data line lags. It lagged back in August 2020 when it was still down, and it’s crawling now on the CPI data. We already have more current data lines to show that the growth rate of inflation is cooling off. Some Federal Reserve members have commented on the fact that they know the shelter inflation data on the CPI lags — that’s a positive. Some people feared the Federal Reserve didn’t understand the lag in the CPI data, but this doesn’t appear to be the case. So, we need to understand that the CPI shelter data lags, and the cooldown will be more of a 2023 story, especially in the second half of the year. Back in September, I went on CNBC before the CPI report came out to make this point and explain that shelter inflation did have legs to grow but the growth rate couldn’t be sustained. Shelter CPI inflation data As we can see in the graph below, the growth rate of shelter inflation is moving up and this has the potential to keep going higher. One thing to remember is that we have 910,000 two-unit housing that will come on line in 2023 and this will help cool the growth rate of inflation down next year. We already see the growth rate of shelter cooling off in the data lines that are more current, so this will be a positive story in 2023.  When this data line starts to cool down, it will be the biggest factor in core inflation cooling down. This is why I wrote about how we all need to root for housing completion data to get better so we get more supply into the marketplace. The best way to deal with housing inflation is more supply, and we have a lot of two-unit construction in the pipeline.  We see some inflation data cooling off recent peaks; food and energy are not part of core inflation data as they can have wild swings. As we can see below the growth rate of the Mad Max inflationary basket is cooling off, mostly due to energy prices coming off the recent highs. Other inflationary data is also cooling off. We all know that used car prices exploded during the pandemic as supply crashed. That is already changing and has room to go lower. If you’re trying to defeat inflation by killing demand and losing jobs, you don’t have the proper supply in the market. The history of global pandemics traditionally means supply chains are stressed for two years. Now that we are all walking the earth freely (outside of China), the production supply levels are returning to normal. For today’s CPI report, the new vehicle price index, which also went parabolic during the pandemic, is coming down. Again, the best way to deal with inflation is to get more supply in the market. So does this data represent a turning point? Have we seen the peak growth rate in inflation? I would say this about this topic. Last year at this time the growth rate of a lot of inflationary data was still rising and then, on top of everything else, we had the Russian Invasion of Ukraine in February. Since then we have had massive Fed rate hikes in the system and the biggest driver of core inflation in America is set to cool down in 2023. Those facts are here today where they weren’t in November of 2021. But, the Federal Reserve feels pressure to create a job-loss recession to get the inflation data back down toward 2% and even with today’s CPI inflation data being lower, they’re still going to push us into a job-loss recession. I raised my sixth and final recession red flag as of Aug. 5, but I did write about two ways we could still avoid a nasty job loss recession. Here are two things that I would be looking for: 1. Rates fall to get the housing sector back in line. Mortgage rates falling toward 5% can stabilize housing if they have duration. Traditionally, mortgage rates below 4% boost housing demand. The bleeding needs to stop and what we have seen in the data is that buyers did come into the housing market when rates got back down toward 5%. However, 5% rates

[ad_1] Trump grapples with 2024 questions amid GOP midterm letdown  CNN Opinion | Trump Is the Republican Party’s Biggest Loser  The Wall Street Journal Opinion | If You’re Breathing a Sigh of Relief About the Midterms, Just Wait  POLITICO What Americans really told Democrats and Republicans on election night 2022  Fox News Midterm elections results 2022 see Democrats outrun history  MSNBC View Full Coverage on Google News [ad_2]

[ad_1] Some of the best things in life are free—so why should you expect any different from your credit card? Canada has an impressive array of no-fee credit cards that don’t charge cardholders an annual fee, while also delivering respectable rewards like cash back and travel points. Many of these no-fee cards also boast attractive extras like solid welcome bonuses, no foreign transaction fees and useful travel insurance. Individuals who don’t always pay off their balance every month will be happy that a few of these cards even feature a standard low interest rate or an attractive balance transfer promo. Here are our picks for the best no-fee credit cards in Canada. Find your next credit card* See cards tailored for you from over 12 banks and card issuers No impact to your credit score Get an answer in under 60 seconds Find my perfect card You will be leaving MoneySense. Just close the tab to return. .credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow {padding: 4rem;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow span.content {font-weight: 800;margin-bottom: 2.75rem;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext p {margin-bottom: 0;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext {margin-bottom: 0 !important;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext div {margin: 0 0 2.5rem;line-height: 1.75rem;font-weight: 500;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext div .sub-text {margin-bottom: 10px;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext .btn-group {font-size: 1.125rem;font-weight: 500;text-transform: uppercase;margin-bottom: 1.25rem;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext span.fineprint {font-size: 0.875rem;font-weight: 500;line-height: 1.125rem;}@media ( max-width: 900px ) {.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow {padding: 3rem 1.25rem;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow span.content {font-size: 1.25rem;margin-bottom: 2rem;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext div {line-height: 1.25rem;font-size: 1rem;margin-bottom: 2rem;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext div ul {margin: 0 0 0 15px;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext .btn-group {font-size: 1rem;}.credit-card-cta-scenario-chooser .cta-v2.shortcode-cta-yellow .subtext span.fineprint {font-size: 0.625rem;line-height: 0.75rem;}} The best no-fee credit cards in Canada 2022 Card Best for Rewards / Feature Tangerine Money-Back Credit Card(get more details)*  Cash back 2% in up to 3 categories of your choice0.5% on everything else AMEX SimplyCash(get more details)* Base-rate cash back 2% cash back on gas and groceries (up to $300 annually)1.25% cash back on everything else Brim Mastercard(get more details)* No FX fees 1 pt/$1 on everyday purchasesNo FX feesBonus points at eligible retailers1 pt = 1% in cash back MBNA Rewards Platinum Plus Mastercard(get more details)* Travel 2 pts/$1 on groceries & dining11 pt/$1 on everything else1 pt = 1 cent in travel rewards MBNA True Line Mastercard(get more details)* Low APR 12.99% purchase interest rate BMO CashBack Mastercard(get more details)* Groceries 3% cash back on groceries21% on recurring bills20.5% on everything else PC Financial World Elite(get more details)* Retail rewards 45 pts/$1 at Shoppers Drug Mart30 pts/$1 at PC affiliate stores30 pts/litre at Esso/Mobil0 pts/$1 on everything else10 pts = 1 cent in store credit Triangle World Elite Mastercard Retail rewards 4% in CTM at Canadian Tire, Mark’s & Sport Chek3% at most grocery stores5 cents/litre CTM at Gas+ and Essence+1% on everything else Home Trust Secured Visa(get more details)* Rebuilding credit Virtually guaranteed approvalMin. $500 deposit Rogers World Elite Mastercard Travel insurance 1.5% cash back on all purchases3% cash back on USD purchases 1 On the first $5,000 spent annually per category2 On the first $500 per month Best no-fee credit card for cash back Tangerine Money-Back Credit Card* At a glance: The Tangerine Money-Back Mastercard is a perennial no-fee favourite thanks to its automatic 2% cash back on purchases in two spending categories, with a third category available if you set up an automatic rewards deposit into a Tangerine Savings Account. What makes this card really stand out is that cardholders get to personalize their extra-earn categories from among a whopping 10 options. Welcome offer: Earn 15% cash back (up to $150) when you spend $1,000 on everyday purchases within the first two months of having the card. Transfer your balance from another credit card to receive a low interest rate of 1.95% for the first six months (1% balance transfer fee applies). Must apply by November 18, 2022. Interest rates: 19.95% on purchases, 19.95% on cash advances, 19.95% on balance transfers Earn rate: 2% cash back in up to three spending categories of your choice from 10 different options; 0.5% on all other purchases; cash back can be applied monthly, either towards your credit card balance or deposited into your savings account Annual income requirement: $12,000 Additional benefits: Purchase protection and extended warranties Pros You get to choose your own cash-back categories from 10 everyday spending categories, and there is no cap on earnings. The Tangerine Money-Back Mastercard features a generous welcome offer and balance transfer promotion. The card has a low income-qualification threshold. Cons Spending outside of cash back categories earns a base rate of only 0.5%. The card features no rental car or travel insurance. Get more details about the Tangerine Money-Back Credit Card* Go to Site Best no-fee credit card for base-rate cash back SimplyCash Card from American Express* At a glance: An ideal card for those who spend much of their budget on groceries and gas, the SimplyCash American Express gets you 2% cash back in those two categories. The card also has a pretty generous base rate of 1.25% for all other spending. Especially notable is the $100,000 in travel accident protection, a rare perk for a no-fee card. Welcome offer: Earn a $10 statement credit for each monthly billing period in which you spend $300 on purchases. This could add up to $100 in your first 10 months of having the card. Interest rates: 20.99% on purchases, 21.99% on cash advances Earn rate: 2% cash back on eligible gas and grocery purchases up to $300 annually; 1.25% cash back on everything else Additional benefits: Access to virtual events and special offers with American Express Experiences Pros  The Front of the Line and American Express Experiences programs give cardholders access to presale tickets and exclusive invites to entertainment and dining events. Unique referral program offers an added opportunity to earn $50 for referring approved applicants (up to $750 cash back annually). $100,000 in travel accident protection, as well as buyer’s assurance and purchase protection.  Cons American Express cards aren’t as widely accepted at merchants as Visa and Mastercard cards. SimplyCash American Express’ accelerated earn rates are each capped at $300 annually. Get more details

[ad_1] Love playing games as a family? Check out these hot deals on board games at Walmart! Walmart has select Board Games for the Family for just $6 right now as part of their Early Black Friday Deals! Choose from Sorry!, Connect 4, Trouble and more. Hurry – these are selling out really quickly. Choose free in-store pickup to avoid shipping costs. [ad_2] Source link

[ad_1] Colombia's Ecopetrol Q3 net profit doubles as oil demand, prices rise [ad_2] Source link