I have this theory that all ideas for consumer companies sound dumb. Airbnb is a runaway success but started with someone saying, “I’m building a website that lets strangers sleep at your house.” We couldn’t “Netflix and chill” if Reed Hoffman didn’t’ think “I’m going to start mailing DVDs to people’s houses.” So when I heard there was a company that was selling water in a can and calling it Liquid Death, I was pretty dismissive.
June was the first time in 29 months that the monthly core inflation print had been beneath two per cent on an annualized basis. The U.S. dollar hit a 15-month low. This lit a fire under a bunch of commodities and thus the TSX. What does this mean for rates? We’ll we got our answer from the Bank of Canada yesterday, but for the U.S. Federal Reserve the market is still pricing in a 90 per cent chance of a rate hike come July 26. What does change, however, is what happens next.
As for the Bank of Canada, another rate hike later this year is getting about one in three odds right now.Shares of Pepsi are rallying in the pre-market after the snack and drink maker beat earnings expectations and boosted its forecast. Sales and profit for Q2 grew faster than anticipated and the company says its bottom line will grow 12 per cent this year — which is also higher than expected. This is an example of an inflation story that is still working.
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