TORONTO — Five things to watch for in the Canadian business world in the coming week:
Markets close out 2021:
Trading is expected to be volatile next week due to low volumes as we head into the holiday season. The S&P/TSX composite index was up nearly 25 per cent this year, the best performance since 2009, until fears about the Omicron variant caused a 5.4 per cent drop in the Toronto market in just a few days in late November.
October retail sales:
Statistics Canada is scheduled to release retail sales figures for October on Tuesday. The agency’s previous report found that Canadian retail sales fell 0.6 per cent to $56.6 billion in September as sales of new cars slowed amid a shortage of semiconductor chips. Its preliminary estimate for October pointed to an increase in retail sales of one per cent for the month.
BlackBerry earnings:
BlackBerry is set to hold a call to discuss its third-quarter results on Tuesday. The Waterloo, Ont., based company saw its net loss surge to US$144 million in the second quarter as revenues fell 32 per cent. It also announced at that time that John Giamatteo, former president and chief revenue officer at McAfee, had been appointed president of its cybersecurity business effective Oct. 4.
October GDP:
Statistics Canada is scheduled to release gross domestic product figures for October on Thursday. The agency previously reported that the economy had bounced back sharply in the third quarter of the year, growing at an annual rate of 5.4 per cent after taking a walloping in the preceding three-month stretch.
Holiday hours:
The TSX and TSX Venture Exchange will close early at 1 p.m. ET on Friday for Christmas Eve. It will also be closed the following Monday and Tuesday in lieu of Christmas Day and Boxing Day falling over the weekend.
This report by The Canadian Press was first published Dec. 19, 2021.
The Canadian Press
