Surges

Loonie Surges After Hawkish Bank Of Canada Sees Faster Recovery, Warns Of Upside Inflation Risk

As expected, the Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank also kept its guidance and QE program unchanged at its current pace of at least $4 billion…

Beyond Meat Surges On Reports Of Deal With Taco Bell

In what appears to be Taco Bell’s unconventional answer to McDonald’s bringing back the Crispy Chicken Sandwich, the “Mexican-inspired” fast-food giant has introduced several popular vegetarian options, including a partnership with Beyond Meat, that it hopes will entice more millennial and Gen Z customers. The Yum Brands-owned chain is resurrecting its popular potatoes dishes, while…

Ethereum Surges As Bitcoin Tops $28k and Crashes

Bitcoin  has been stealing the spotlight in recent weeks as it has soared to record-er and record-er heights, but overnight saw a ‘regime-shift’ as Bitcoin topped $28,500… Source: Bloomberg …before crashing over $2,000 lower, only to be bought back… Source: Bloomberg Bitcoin’s surge had pushed it above its stock-to-flow model estimate… Source Some still have…

Bitcoin Surges Towards $27k As Short Squeeze Accelerates

Update (1715ET): It seems like only yesterday, Bitcoin was trading at $24,000… And now, as short liquidations accelerate, the leading cryptocurrency is rapidly approaching $27,000… As CoinTelegraph notes, according to data from Bybt.com, more than $131 million worth of Bitcoin futures contracts were liquidated in the last 24 hours… As long as the derivatives market…

Brent Crude Surges Above $50 For First Time Since March

While stocks are creaking on the back of continued weakness in the tech sector, the energy complex is having a great day as Brent crude rises above $50 for the first time since March. While there is no immediately catalyst, Bloomberg cites strong demand from Asia as the major driver for today’s strong commodity market….

Euro Surges To 18 Month High Amid Speculation ECB Is “Out Of Policy Tools”

While many have focused on the ongoing collapse of the dollar, a big reason for the persistent weakness in the greenback, which is now below the Nov 9 “Pfizer vaccine” level… … is the grind higher in the EURUSD which this morning hit 1.2168, the highest since April 2019, and a level well above the…

Market Surges As Election Turns Into Optimal Outcome

Authored by Lance Roberts via RealInvestmentAdvice.com, After reducing equity risk in portfolios over the last few weeks, we suggested last week the “selling” was likely overdone. “All of our “sell signals” have been intact for the last few weeks suggesting more downside risk near term. Those signals have now reversed to the point where we are likely to see a…

Land O’Lakes Profit Surges 22% In Q3 As Consumers Cooking-At-Home Spur Butter Boon

While we have watched a lot of the obvious beneficiaries of the pandemic see their company’s respective stocks soar (not the least of which was Zoom, who passed Exxon in market cap last week), there’s still one place people haven’t necessarily shed a light on yet: butter.  Butter sales at dairy companies like Land O’Lakes have been…