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Brazil ETFs in Focus as Central Bank Cuts Rates Again

Despite disappointing economic data and uncertainties stemming from Trump's triumph in the U.S. elections, Brazil's central bank announced a modest quarter-point cut in its benchmark interest rate, contrary to expectations of a significant cut.

The bank opted for a slow easing cycle and trimmed its Selic rate to 13.75% from 14%. The bank targets to lower inflation to 4.5% in 2017 and 2018 from a near-decade high level earlier this year.

Thursday, December 01, 2016 | 02:20 PM

Parker Hannifin buying Clarcor for about $4.03 billion

NEW YORK - Parker Hannifin is buying Clarcor, a maker of mobile, industrial and environmental filtration products, in a deal valued at about $4.03 billion so it can expand its filtration portfolio.

Parker Hannifin Corp. will pay $83 for each Clarcor share. That's an approximately 18 per cent premium to the Franklin, Tennessee-based company's Wednesday closing price of $70.45.

Thursday, December 01, 2016 | 02:12 PM

Donating money can make a big difference for a charity and your tax bill

TORONTO - The last few weeks of the year are the busiest for Canadian charities with people who rush to get in their last-minute donations before the Dec. 31 deadline.

More than 24 million Canadians gave away a total of $12.8 billion to charities in 2013, with the average gift per donor being $531, according to the most recent data from Statistics Canada

Thursday, December 01, 2016 | 01:07 PM

US 30-year average mortgage rate rises to 4.08 per cent

WASHINGTON - Long-term U.S. mortgage rates marked a fifth week of surges in the aftermath of Donald Trump's election win, reaching their highest levels this year.

Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed rate loan rose to 4.08 per cent from 4.03 per cent the previous week. The benchmark rate topped its 3.93 per cent level of a year ago.

Thursday, December 01, 2016 | 12:13 PM

Top ETF Stories of November: Spotlight on Election & OPEC

The month of November was special with two high-profile events, namely the U.S. presidential election and the OPEC meeting on output freeze decision. In fact, the outcome of these two events can prove to be real game changers for the rest of this year and even the next.

In any case, a consensus carried out from 1950 to 2014 shows that November ended up offering positive stock returns in 43 years and negative returns in 23 years, per moneychimp.com, with an average return of 1.35%.

Thursday, December 01, 2016 | 12:11 PM

OPEC Finally Cuts Output: Energy Stocks & ETFs Up 10% or More

Amid rising speculation, anticipation and skepticism, OPEC leaders were finally in tune with an output cut on November 30 in Vienna. The deal sent oil prices soaring the most in nine months and global energy stocks to the highest levels since January. Though Iraq and Iran were hurdles to this historic agreement, the cartel was finally able to cut the output cut deal for the first time in eight years.

WTI crude ETF United States Oil USO added about 8.7% on the day the deal was announced while Brent crude ETF United States Brent Oil BNO climbed about 9.1%. The largest energy ETF Energy Select Sector SPDR ETF XLE jumped 5.1% on November 30 while the S&P 500 lost about 0.3% (read: Oil ETFs Jump on Renewed Hopes of OPEC Cut).

Thursday, December 01, 2016 | 11:16 AM

Requests for US jobless aid rose last week, but still low

WASHINGTON - More Americans filed for unemployment benefits last week. But claims are still at low levels that point to greater job security.

THE NUMBERS: The Labor Department said Thursday that applications for jobless aid rose by 17,000 to a seasonally adjusted 268,000. The less-volatile four-week average ticked up 500 to 251,500. The overall number of people collecting unemployment checks was 2.08 million, down more than 5 per cent from a year earlier.

Thursday, December 01, 2016 | 11:10 AM

US Labor Market Upbeat

Sandwiched between yesterday's ADP ADP private sector jobs report and tomorrow's Bureau of Labor Statistics' (BLS) non-farm payroll report, weekly Initial Jobless Claims were released before the bell today. Claims have ballooned up from an unchanged 251K last week to 268K this week. This keeps us within the 4-week moving average of a 250-275K range, which remains consistent with a strong U.S. labor market.

However, the 17K jump is pretty substantial, especially coming as it does at the dawn of a new holiday season, when temporary jobs appear by the bushelful in retail, leisure and logistics spaces. Glancing back at yesterday's ADP numbers, 216K private sector jobs was well ahead of the 170-180K analysts had expected — and they were factoring in holiday seasonality already.

Thursday, December 01, 2016 | 10:38 AM

Jobless Claims Up, but U.S. Labor Market Stays Strong

Thursday, December 1, 2016

Sandwiched between yesterday's ADP ADP private sector jobs report and tomorrow's Bureau of Labor Statistics' (BLS) non-farm payroll report, weekly Initial Jobless Claims were released before the bell today. Claims have ballooned up from an unchanged 251K last week to 268K this week. This keeps us within the 4-week moving average of a 250-275K range, which remains consistent with a strong U.S. labor market.

Thursday, December 01, 2016 | 10:13 AM

Stock Market News for December 01, 2016

Benchmarks finished mixed on Thursday as decline in utilities and telecommunications offset energy's gain. Investors expect the Fed to raise benchmark U.S. interest rates at its December meeting. Dividend payers like utilities and telecom fell as rise in rates dragged bond prices lower, while U.S. bond yields jumped. Energy shares, on the other hand, climbed due to surge in oil prices. OPEC's production cut decision helped oil prices gain traction. Meantime, all the three major indexes ended with big gains for November thanks to a sharp post-election rally.

For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article.

Thursday, December 01, 2016 | 10:10 AM