What a difference a day makes, oil drags TSX lower... Consumers may over-borrow against their homes warns FCAC... BlackBerry has developed new vehicle software...
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What a difference a day makes, oil drags TSX lower
Following strong gains for the energy sector in the previous session, it was the biggest drag on the main TSX index Wednesday.
The 3.3 per cent slump for energy was due to oil prices plummeting 5 per cent as US data showed a larger-than-expected rise in stockpiles. That was not the news a market already concerned about the global glut needed.
Gold prices also eased, tipping the materials sector group into the red while telecoms, healthcare, utilities and consumer discretionary also ended lower.
Wall Street closed higher ahead of Thursday’s testimony to the Senate by sacked FBI box James Comey. Markets are hoping that the damage to Trump will be less than previously expected.
European markets were lower ahead of the ECB meeting and UK election Thursday.
The S&P/TSX Composite Index closed down 92.42 (0.60 per cent)
The Dow Jones closed up 37.46 (0.18 per cent)
Oil is trending lower (Brent $48.15, WTI $45.75 at 4.25pm)
Gold is trending lower (1289.50 at 4.25pm)
The loonie is valued at U$0.7396
Consumers may over-borrow against their homes warns FCAC
The use of home equity lines of credit (HELOCs) could put some homeowners at risk of over-borrowing.
A report published Wednesday by the Financial Consumer Agency of Canada warns that lenders are increasingly offering readvanceable mortgages, which combine term mortgages with HELOCs and other credit products, to customers.
While they can be a good credit solution when used responsibly, the agency says that some homeowners may take interest-only options and increase their debt load when household debt is already a concern.
“HELOCs may lead Canadians to use their homes as ATMs, making it easier for them to borrow more than they can afford,” said FCAC commissioner Lucie Tedesco. Consumers carrying high levels of debt are more vulnerable to the impact of an unforeseen event or economic shock.”
BlackBerry has developed new vehicle software
Software which runs vehicle computer systems has been developed by BlackBerry, the firm said Wednesday.
Details were minimal but Blackberry’s John Wall said that “multiple” auto makers are already using the product QNX Hypervisor 2.0, which offers enhanced security against cyber-hacking, a major concern among consumers, especially as autonomous vehicles proliferate.
Following strong gains for the energy sector in the previous session, it was the biggest drag on the main TSX index Wednesday.
The 3.3 per cent slump for energy was due to oil prices plummeting 5 per cent as US data showed a larger-than-expected rise in stockpiles. That was not the news a market already concerned about the global glut needed.
Gold prices also eased, tipping the materials sector group into the red while telecoms, healthcare, utilities and consumer discretionary also ended lower.
Wall Street closed higher ahead of Thursday’s testimony to the Senate by sacked FBI box James Comey. Markets are hoping that the damage to Trump will be less than previously expected.
European markets were lower ahead of the ECB meeting and UK election Thursday.
The S&P/TSX Composite Index closed down 92.42 (0.60 per cent)
The Dow Jones closed up 37.46 (0.18 per cent)
Oil is trending lower (Brent $48.15, WTI $45.75 at 4.25pm)
Gold is trending lower (1289.50 at 4.25pm)
The loonie is valued at U$0.7396
Consumers may over-borrow against their homes warns FCAC
The use of home equity lines of credit (HELOCs) could put some homeowners at risk of over-borrowing.
A report published Wednesday by the Financial Consumer Agency of Canada warns that lenders are increasingly offering readvanceable mortgages, which combine term mortgages with HELOCs and other credit products, to customers.
While they can be a good credit solution when used responsibly, the agency says that some homeowners may take interest-only options and increase their debt load when household debt is already a concern.
“HELOCs may lead Canadians to use their homes as ATMs, making it easier for them to borrow more than they can afford,” said FCAC commissioner Lucie Tedesco. Consumers carrying high levels of debt are more vulnerable to the impact of an unforeseen event or economic shock.”
BlackBerry has developed new vehicle software
Software which runs vehicle computer systems has been developed by BlackBerry, the firm said Wednesday.
Details were minimal but Blackberry’s John Wall said that “multiple” auto makers are already using the product QNX Hypervisor 2.0, which offers enhanced security against cyber-hacking, a major concern among consumers, especially as autonomous vehicles proliferate.
