Five things to watch for in the Canadian business world in the coming week
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Hey there, time traveller!
This article was published 02/06/2024 (558 days ago), so information in it may no longer be current.
TORONTO – Five things to watch for in the Canadian business world in the coming week:
Home sales
Several of Canada’s big cities are expected to release home sales figures for May this week. Calgary is expected to release its numbers on Monday followed by Vancouver on Tuesday. Home sales figures for Toronto are expected on Wednesday. The results will offer a look at how the spring real estate market has been faring ahead of the Bank of Canada interest rate decision later this week.
Rate decision
The Bank of Canada is scheduled to make its interest rate announcement on Wednesday. The central bank’s key interest rate target is currently set at five per cent. Central bank governor Tiff Macklem has said a rate cut is within the realm of possibilities, but that the decision will be based on the economic data.
Lululemon earnings
Lululemon Athletica Inc. will report its first-quarter financial results on Wednesday and hold a conference call with investors and financial analysts. Shares in the company came under pressure last month after it said its chief product officer, Sun Choe, was leaving the company. Choe was named global brand president for Vans by VF Corp.
Transat results
Travel company Transat A.T. will report its second-quarter results and hold a conference call with financial analysts and investors on Thursday. The Montreal-based company warned last month that it expected to fall short of its financial guidance for the year. The parent company of Air Transat said challenges related to Pratt & Whitney’s GTF1 engines, market dynamics and the consequences of union strike threats have created a volatile environment.
Jobs report
Statistics Canada will release its latest reading on the job market on Friday when it publishes its labour force survey for May. The Canadian economy added 90,000 in April as the unemployment rate held steady at 6.1 per cent. The April employment gain was the largest monthly increase since January 2023.
This report by The Canadian Press was first published June 2, 2024.
Companies in this story: (TSX:TRZ)