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Noah Zivitz

Managing Editor, BNN Bloomberg


The S&P/TSX Composite Index notched a new intraday record above 21,000 points in early trading this morning, after entering the day riding a nine-session winning streak. The gains have been broad based during this stretch, with all but one (Health Care) of the major subgroups in positive territory as the index climbed 4.65 per cent. We'll get insight into the outlook for Canadian stocks from Allan Small at 8:10 a.m.


Oh, to be a fly on the wall at the next meeting of Rogers Communications’ board of directors. The airing of dirty laundry continues, now with Chairman Edward Rogers telling our Bloomberg News partners that he recognizes there’s “room for improvement” at the telco, and that his “responsibility [is] to put the interests of RCI first.” Meanwhile, the drip, drip, drip of leaks continues, with The Globe and Mail reporting that Edward is requesting a list of Rogers’ shareholders, which could be a sign he hasn’t given up on overhauling the company’s board. The Globe is also reporting Edward has spoken with potential candidates to join the board if he gets his way after previously being blocked from unseating Joe Natale as the company’s CEO.  


The price of Bitcoin has been adding to gains this morning, coming within US$2,000 of its record high, ahead of today’s launch of America’s first (futures-based) Bitcoin exchange-traded fund on the New York Stock Exchange. We’ve got ProShares’ global investment strategist on The Street; can’t wait to hear what he has to say about lessons learned from Canada’s experience with crypto ETFs.


The Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy are scheduled to expire on Saturday, barring an 11th hour extension by the federal government. Which begs the question of whether they’re still needed for all or some sectors of the economy. Temur Durrani gathered a range of views on the need (or not). Watch for that at and live interviews on the network today with some of the stakeholders he spoke with.


The U.S. Securities and Exchange released its deep dive on the trading frenzy in shares of Gamestop without reaching a single, definitive conclusion as to what caused the mayhem. However, the regulator pointed to game-like features used by trading platforms to attract users as being a factor. It also dismissed the notion that a short squeeze alone was the sole drive. “Whether driven by a desire to squeeze short sellers and to profit from the resultant rise in price, or by a belief in the fundamentals of Gamestop, it was the positive sentiment, not the buying-to-cover, that sustained the weeks-long price appreciation,” according to the SEC.


  • Procter & Gamble was stung by inflation and supply chain woes in the latest quarter. The giant consumer goods company’s fiscal first-quarter earnings per share slipped one per cent despite an uptick in sales. P&G said in a release that its margins were hurt by “higher commodity and freight costs as anticipated.” It also warned that it’s expecting a full-year US$2.3-billion hit from those higher cost inputs.  
  • Former Liberal Natural Resources and Infrastructure Minister Amarjeet Sohi is going to be the next mayor of Edmonton after yesterday’s municipal elections in Alberta, which also saw Jyoti Gondek voted into power in Calgary.
  • Sleep Country Canada today announced it’s buying a 52 per cent stake in Hush Blankets for $25 million up front. Under the arrangement, Sleep Country will buy the rest of the company in annual increments of 16 per cent.
  • Tilray is adding a veteran of the consumer packaged goods industry to its leadership team, with the appointment of Blair MacNeil as president of its Canadian operations. MacNeil was most recently general manager of Bacardi’s Canadian unit


  • Notable data: U.S. building permits and housing starts
  • Notable earnings: CN Rail, Netflix, Kansas City Southern, Johnson & Johnson, Procter & Gamble, United Airlines  
  • 8:30: Onex virtual investor day
  • 10:30: CIBC CEO Victor Dodig participates in Public Policy Forum roundtable                 
  • 11:00: CMHC releases residential industry mortgage report