It has been some time since I actually wrote a weekly news watch, so here it goes. This past week we saw different news released which had a few interesting pieces, but most importantly, we had the first of the Big Six report their first quarter earnings this week.
The interesting article I am speaking of relates to how emotions lead to spending, the happier you are, the more you will spend. (More information on this topic can be found here)
In other news we have Ottawa preparing to rein in debt as next week we are expected to see the federal budget lay out spending cuts. (More information can be found here)
We have the World Bank President releasing a statement that says that we have moved out of the recession, and a double dip is unlikely, however the pace of recovery is quite uncertain at the moment.
Both Canadian Imperial Bank of Commerce (CIBC) and National Bank Financial Group released their quarterly earnings for the new year this week, and we saw both banks do exceptionally well. (Information on CIBC’s quarterly report can be found here, and National Bank’s can be found here)
Next week you can expect to see the other Big Six release their quarterly reports, and if this trend keeps up, we should be seeing more positive reports.