‘Get Out of Canada': Some Strategists Turn Defensive After TSX Rally [BNN Bloomberg (Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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cibc.com/en/about-cibc/investor-relations.html
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Source: BNN Bloomberg
The world's 10th largest economy is flashing some warning signs. Unemployment is rising and private sector output is flagging. The Bank of Canada has lowered rates three times so far, and economists increasingly view economic growth as so weak that the central bank will have to start cutting faster. “We've crossed the Rubicon and we're in for a hard landing,” James Thorne, chief market strategist at Wellington Altus, said in an interview. The unemployment rate is 6.6% nationally and above 7% in Alberta and Ontario, two of the most economically important provinces. That “cannot be described as a soft landing,” Thorne said. “Get out of Canada. Don't own in the TSX.” Thorne has some company. “We do see and have seen a slowing of the Canadian economy,” said Philip Petursson, IGM Financial's chief investment strategist. The wealth management firm has an underweight in Canada and is encouraging investors in domestic equities to be selective, focusing on defensive names and rate-sen
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News
- CIBC and The Cognizant Classic in The Palm Beaches announce multi-year partnershipPR Newswire
- CIBC and Chicago Blackhawks renew partnership: A 15-year relationship strengthenedPR Newswire
- Canadian Imperial Bank of Commerce (NYSE: CM) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- CIBC donates US$100,000 to support Hurricane Milton relief effortsPR Newswire
- Canadian Imperial Bank of Commerce (NYSE: CM) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
CM
Earnings
- 8/29/24 - Beat
CM
Sec Filings
- 11/5/24 - Form 424B2
- 11/5/24 - Form 424B2
- 11/5/24 - Form 6-K
- CM's page on the SEC website