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What To Watch In The Canadian Markets This Week

Published 2019-10-21, 09:31 a/m
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Canadians Head To The Polls

The big story, of course, is the federal election. As Canadians cast their ballots today, the polls suggest the big question doesn’t appear whether there will be a minority or majority government, rather which party will form the minority.

On the economy, the Andrew Scheer's Conservatives are promising to balance the budget in five years, while Justin Trudeau’s Liberals is not offering a firm timeline. Then, of course, there are Scheer’s out-and-out lies. Last week, he repeatedly claimed a coalition Liberal-NDP government would raise the Goods and Services Tax. It’s a move neither the Liberals nor the NDP have mentioned, and both party leaders have since made clear is not in the offing.

Third-Quarter Earnings Season

Canadian stocks have had a strong year so far, so as this week marks the beginning of the onslaught of third-quarter earnings, the pressure will be on.

Among the big Canadian companies reporting this week are Canadian National Railway Co (TSX:CNR), Canadian Pacific Railway Ltd (TSX:CP), Restaurant Brands International Inc (TSX:QSR), Rogers Communications Inc (TSX:RCIa) and Husky Energy Inc . (TSX:HSE).

So far this year the S&P/TSX Composite is up 14.3%. It is the best showing the index has had in the same first almost 10 months of the year since 2009. Yet, it is still being outperformed by the S&P 500, which is up just over 19%.

BoC’s Business Outlook Released

The Bank of Canada will release its latest business outlook tomorrow.

The central bank's previous survey predicted that businesses expected to see an increase in sales in the latter half of the year.

Cannabis 2.0 Marks Its Official Start

Marking the first anniversary of the legalization of marijuana in Canada is the official beginning of what is being called the cannabis 2.0 marketing blitz. These derivative products, which include edibles, infused beverages and topicals, will not be offered for retail sale until mid-December, however, due to regulatory delays. But with the timeline in clear view of having these products on store shelves, the cannabis sector is revving up to meet the demand.

Among the major cannabis companies that will be reporting this week is Quebec-based Hexo Corp (TSX:HEXO), which will unveil its fourth-quarter earnings on Thursday. Hexo, which has entered into a joint venture with beer-maker Molson Coors, will be an active mover in the cannabis 2.0 sector. It is expecting to launch drinks that contain TCH, the component of marijuana that produces to the so-called high, and CBD-infused spring water in the coming months.

Cannabis Investors Conference in Chicago

The who’s who of cannabis entrepreneurs and investors from Canada and the U.S. will be in Chicago on Tuesday and Wednesday for the Benzinga Cannabis Capital Conference.

I will be representing Investing.com, moderating panel discussions during the two-day convention. Among those who will be speaking: former Canopy Growth CEO Bruce Linton, Acreage Holdings CEO Kevin Murphy, Cresco Labs co-founder and CEO Charlie Cachtell, Cowen analyst Vivien Azer, and actor, comedian and founder of Belushi’s Farm, Jim Belushi.

Canadian companies reporting this week:

Monday:

Rockwell Diamonds Inc (TSXV:RDIh)

Thunderbird Entertainment Group Inc (TSXV:TBRD)

West Fraser Timber Co. Ltd . (TSX:WFT)

Tuesday:

Accord Financial Corp. (TSX:ACD)

Canadian National Railway Co.

NanoXplore Inc (TSXV:GRA)

Wednesday:

Agnico Eagle Mines Limited (TSX:AEM)

Axis Auto Finance Inc (TSXV:AXIS)

Canadian Pacific Railway Ltd.

Canfor Corporation (TSX:CFP)

Canfor Pulp Products Inc . (TSX:CFX)

Centamin PLC (TSX:CEE)

Constellation Software Inc . (TSX:CSU)

FirstService Corp (TSX:FSV)

Green Growth Brands Inc (CSE:GGB)

Lundin Mining Corporation (TSX:LUN)

Mullen Group Ltd . (TSX:MTL)

Restaurant Brands International

Rogers Communication Inc.

theScore Inc. (TSXV:SCR)

Thursday:

Atrium Mortgage Investment Corp (TSX:AI)

Celestica Inc. (TSX:CLS)

Hammond Manufacturing Co Ltd (TSX:HMMa)

Husky Energy Inc . (TSX:HSE)

PFB Corporation (TSX:PFB)

Postmedia Network Canada Corp A (TSX:PNCa)

Precision Drilling Corporation (TSX:PD)

Sangoma Technologies Corporation (TSXV:STC)

TFI International Inc (TSX:TFII)

Teck Resources Ltd A (TSX:TECKa)

Tree Island Steel Ltd. (TSX:TSL)

Winpak Ltd. (TSX:WPK)

Yamana Gold Inc (TSX:YRI)

Friday:

Domtar Corporation

Hammond Power Solutions Inc.

Mason Graphite Inc.

NexJ Systems

Orocobre

Shaw Communications

Sulliden Minerals

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