By Ketki Saxena
Investing.com --- The TSX tracked the Dow lower this afternoon, weighed down by crude prices on a bigger than expected US crude stockpile build, and as no word was received from the US Government about refilling the national reserve.
Meanwhile in Canada, nearly half a million barrels of oil worth of production has been taken offline as wildfires continue to blaze in Albert.
The S&P500 and Nasdaq however gained a boost from today’s US inflation reading. Despite a month-over-month increase in CPI to 0.4% from 0.1% in March, the reading was cooler than expected and solidified bets staying on pause for now.
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Brookfield Asset Management (TSX:BN) Ltd reported a profit of US$516 million in the quarter, up from US$348 million this time last year. Revenue totalled US$966 million, up from US$755 million in the first three months of 2022. Brookfield Asset Management, was spun off from Brookfield Corp. in December last year.
Nuvei (TSX:NVEI) reported a net loss of US$8.3 million or seven cents per diluted share for the quarter ended March 31, comparing with profit of US$4.5 million or two cents per diluted share a year earlier. Revenue for the quarter totalled US$256.5 million, up from US$214.5 million in the first three months of 2022.
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Statistics Canada reported that the total monthly value of building permits in Canada advanced 11.3% to $11.8 billion in March. On a constant dollar basis, the total value of building permits went up 12.2% to $6.9 billion.