News and Updates

Canadian Cannabis Index Jumps 68% in 10 Weeks

Canadian Cannabis Index Jumps 68% in 10 Weeks

2017 is turning out to be another great year for cannabis stocks as the sector rallies back to the all-time high on a steady stream of good news. After falling into a bear market this spring cannabis stocks have been on a tear. The Canadian cannabis index is up 68% in the last 10 weeks, jumping back to the all-time high.

Third-Quarter Earnings Hit Record, S&P 500 Now up 17% in 2017

Third-Quarter Earnings Hit Record, S&P 500 Now up 17% in 2017

Third quarter earnings season is peaking – and the results have been excellent.

More than half of the S&P 500 has reported earnings. According to data from Zacks Investment Research earnings are up 8.7% from the same period last year on 6.7% revenue growth. 76% of company’s have beaten earnings estimates while 66% have beaten revenue estimates.

Canadian Cannabis Index Jumps 68% in 10 Weeks

S&P 500 up 2.3% in Second Quarter and 9.2% in 2017

The second quarter of 2017 is history. That means it’s time for me to drop in for an update to let all my clients and friends know what is happening in the market – and what to expect in the third quarter and rest of the year. It was another solid quarter for US and global stocks. And I am expecting a strong second half of the year.

Canadian Cannabis Index Jumps 68% in 10 Weeks

S&P 500 up 7.7% in 2017 on Awesome First-Quarter Earnings

First quarter earnings season is almost over – and the results have been excellent. With 90% of the S&P 500 reporting, earnings are up 14.2% from the same period last year. That’s a huge year-over-year increase. Revenue is up 7.7%. 73.3% of reporting companies have beaten earnings estimates. This earnings growth represents an important turning point for the S&P 500.

S&P 500 Closes Strong First Quarter with a 6% Gain

Despite challenges, I still see plenty of reasons to be optimistic. Global economic growth is set to accelerate in 2017. Global GDP is expected to increase 2.7%, up from 2.3% in 2016. Same story with the US. GDP is expected to climb 2.1%, up from 1.6% in 2016. 2.1% growth is nothing to write home about. But it’s still safely in positive territory and tells me there will be no recession this year.

Canadian Cannabis Index Jumps 68% in 10 Weeks

S&P 500 up 6% in November and 12% in 2016

Since the election, the S&P 500 has gained more than 6% – giving the index a 10% price gain on the year. That’s not including the S&P 500’s 2% dividend yield. When factoring in dividends, the S&P 500 is up 12% and on pace for a total return between 10% and 14% in 2016.