Noah Zivitz

Managing Editor, BNN Bloomberg

Archive

Fed fallout is still rippling through the market this morning, with the U.S. dollar sagging against its major counterparts, gold ripping toward US$1,400/ounce, and stocks moving higher across the globe. The central bank’s vow to “act as appropriate to sustain the expansion” has helped pushed the probability of a rate cut next month to 100 per cent. But the dot plots underscore this is a divided Federal Reserve. We’ll gauge the outlook this morning and watch for U.S. President Donald Trump’s reaction via Twitter.

TRUDEAU VISITS TRUMP

Prime Minister Justin Trudeau is in Washington, D.C. for meetings with U.S. President Donald Trump and top Congressional leaders. Worth pointing out the PM is holding a news conference solo this afternoon, as opposed to addressing the media side-by-side with Trump. At their meeting, Trudeau and Trump are expected to discuss the ratification process for the new continental trade deal (which was ratified in Mexico yesterday) as well as other trade issues (including the threat of tariffs on Canadian uranium exports), and the status of detained Canadians in China.

DON’T MISS THESE INTERVIEWS

BNN Bloomberg's Greg Bonnell has a pair of Canadian pension fund legends today. Ex-OTPP CEO Claude Lamoureux joins The Real Economy, fresh off being inducted into the Canadian Business Hall of Fame. Ex-CPPIB CEO David Denison, chancellor of the Canadian Business Hall of Fame, will also join The Real Economy. And Jon Erlichman has an interview with BlackBerry CEO John Chen, in which he makes it clear data is the new currency for social media users.

OTHER NOTABLE STORIES

-West Texas Intermediate and Brent oil prices are rising this morning with heightened Middle East tension among the drivers after Iran said it downed a U.S. drone.

-Not every central bank is leaning toward looser policy. Norges Bank raised its benchmark policy rate this morning, citing “solid” domestic growth. It also said rates will have to rise “somewhat further.”

-Meanwhile, the Bank of England left its benchmark rate at 0.75 per cent today.

-Slack Technologies will begin trading on the NYSE later today (note it’s a direct listing – not an initial public offering). If you missed it, check out this Bloomberg feature on the Canadian who founded the group messaging platform: 

-Montreal’s Fontaine Santé is buying Campbell Soup’s Garden Fresh Gourmet unit. Terms weren’t disclosed.

NOTABLE RELEASES/EVENTS

-Notable earnings: Canopy Growth

-StatsCan releases EI report

-7:00 a.m. ET: Bank of England releases interest rate decision

-10:00 a.m. ET: Parliamentary Budget Officer releases reports “Preliminary Findings on International Taxation” and “Election Proposal Costing Baseline”

-10:00 a.m. ET: Supreme Court Chief Justice Richard Wagner holds news conference in Ottawa to discuss SCC's work and take questions​

-10:30 a.m. ET: Ontario Premier Doug Ford, Lieutenant Governor Elizabeth Dowdeswell hold cabinet shuffle ceremony (plus Ford media avail at 12:00 p.m. ET)

-Prime Minister Justin Trudeau meets with U.S. President Donald Trump in Washington, D.C. (12:00 p.m. ET arrival at White House, 12:05 p.m. ET bilateral meeting with Trump, 1:00 p.m. ET luncheon with Trump, 2:00 p.m. ET bilateral meeting with House Speaker Nancy Pelosi, 3:00 p.m. ET bilateral meeting with Senate Majority Leader Mitch McConnell, 4:30 p.m. ET media avail at Canadian embassy)

Every morning BNN Bloomberg's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnnbloomberg.ca/subscribe.