It appears the Bank of Canada’s inflation-busting battle plan is gaining some traction.
Headline inflation slowed to 5.9 per cent in January – down from 6.3 per cent a month before, and below the average economist estimate of 6.1 per cent for the month – as prices for cellular services and cars led the reading lower. Now, it’s not all roses – core inflation, which strips out volatile items like food and fuel held pretty much firm at about five per cent in the month, and that’s the measure Tiff Macklem & Co. pay close attention.
Shares of Molson Coors are gaining a bit of ground in the premarket after the beer-maker posted a 4.1 per cent increase in net sales in the fourth quarter. Worth noting that it was a net loss in the quarter, but that’s tied to a US$845 million non-cash goodwill impairment charge. A new report from Robert Half says 85 per cent of workers are interested in hybrid or fully-remote work, and 73 per cent of those with flexible working conditions say they’re putting in more hours as a result. That said, they don’t appear to be entirely done with the office – about two-thirds say they have more effective relationships with coworkers they’ve met face-to-face.Notable data: Consumer Price Index, Retail Sales, New Housing Price Index, U.S.
Notable earnings: Teck Resources, Walmart, Home Depot, Molson Coors Beverage, Caesars Entertainment, Gibson Energy, Toll Brothers, Ritchie Bros Auctioneers, Equinox Gold, Chesapeake Energy, La-Z-Boy, GFL Environmental
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