Canadian Federal Budget Conversation With Melissa Caouette

Reformed Millennials - Learn Earn and Invest

📈Canadian 2024 Budget Highlights with Mel Caouette📉

Welcome back.

We apologize for the inconsistent email and podcast schedule over the last few months. We will be back this summer in full force!

This week’s podcast brings back our most popular guest - Melissa Caouette. We talk about the Canadian Federal Budget and its impact on Canadian entrepreneurs, home owners new and old, and those looking to plan their financial lives.

Twitter links to reference for the pod:

* Professional Canadians impacted by the Capital Gains Inclusion policy.

* Incorporated people deciding on how to pay themselves post-budget policy changes.

* What the new budget means for Canadian Farmers.

* Budget Link that covers the housing portion of the policy.

Quick Market Update:

By now it should be clear to everyone that the Fed doesn’t have a specific plan for when they will cut rates this year. Powell keeps saying they are taking the data one month at a time and adjusting their view. This is why stocks rallied when the jobs number on Friday came well below estimates. A weakening jobs market improves the prospects for an earlier rate cut.

We are already starting to see some easing.

The pace of the Fed’s balance sheet reduction is slowing down.

The Treasury plans to start buying $2Bn worth of Treasuries weekly.

This is why the dips in the stock market continue to be bought.

Earnings season:

Two trends stood out so far – upside gaps often faded while downside gaps followed through. These are both bearish reactions. And yet, the indexes are holding relatively well.

SPY, QQQ, and IWM have made a couple of higher lows and higher highs in the past two weeks. Small caps are firmly back above their YTD VWAP.

SPY and QQQ rallied to their 50-day moving average.

Going above their Friday highs will likely lead to FOMO chasing as many market participants are underinvested. Losing Friday’s low will likely lead to a quick gap close.

In the meantime, Chinese stocks had a second strong week in a row. Sentiment towards Chinese names has been extremely bearish for a long time. F

We are in a market of stocks environment. The popular, well-known stocks have had some troubles this earnings season. They either gap up and then quickly close their gaps or gap down.

Podcast & YouTube Recommendations🎙

* Great recap of the most recent Apple Event and Quarter:

* Justin Lin interviewed by YAV podcast:

* Market update from the guys at RenMac:

Best Links of The Week🔮

* “Trung offers up many examples of how the best athletes in the world across almost every sport are both learning and educating on YouTube. I have seen it in golf and I know if I had the time or inclination I could rapidly improve my game.” Youtube - The learning machine - Source: Trung Phan

* “Over the last thirty-plus years, each major technology wave, like the PC and then the Internet, evolved as a series of technologies in a tech value stack that came to define the full ecosystem with huge collective value over time.” Source: AI - Building Value Over Time

* Disney shares tumbled 9.5 percent on Tuesday even as it reported the first profit in its core streaming business since it leapt into a battle with [NFLX] five years ago. The Disney+ and Hulu streaming unit earned an operating profit of $47mn in the quarter to the end of March, compared with a $587mn loss a year earlier. Disney achieved the milestone months earlier than expected thanks to cost-cutting and the popularity of Hulu programs including Shogun and The Bear. But investors appeared to be more focused on a potential slowdown in the company’s theme parks." Source: FT

"Apple announced new versions of its iPad Air and iPad Pro tablet computers on Tuesday. They’re the first new iPad models Apple has released since October 2022. “This is the biggest day for iPad since its introduction,” Apple CEO Tim Cook said in a video posted on the company’s website." Source: CNBC

"The Biden administration has revoked export licences that allow Intel and Qualcomm to supply Huawei with semiconductors as Washington increases the pressure on the Chinese telecoms equipment company. The move by the US Department of Commerce affects the supply of chips for Huawei’s laptop computers and mobile phones." Source: FT

"TikTok sued the federal government on Tuesday over a new law that would force its Chinese owner, ByteDance, to sell the popular social media app or face a ban in the United States, stoking a battle over national security and free speech that is likely to end up in the Supreme Court." Source: NYT

"Reddit shares rallied 14% in extended trading on Tuesday after the company released quarterly results for the first time since its IPO in March. Revenue increased 48% to $243 million for the first quarter. Reddit reported 82.7 million daily active users for the period." Source: CNBC

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