Skip to main content
The Globe and Mail
Support Quality Journalism.
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99 per week for the first 24 weeks
Just $1.99 per week for the first 24 weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); } //

Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow

CIBC analyst Shaz Merwat uncovers the Canadian companies that would benefit from a President Biden green energy plan,

“The Biden Climate Plan is an ambitious four-year, US$2-trillion climate agenda most beneficial to Canadian Engineering and Construction (E&C) companies, notably WSP and Stantec … The most progressive elements include both a target for carbon-free electricity by 2035 and putting the nation on an irreversible pathway to netzero emissions by 2050. This would be done through a wide-ranging, US$2 trillion spending package coupled with the push for renewable power and clean transportation… The embrace of renewable power and the desire to be the global leaders in the manufacture and adoption of clean vehicles should also be directionally positive for the Canadian Renewables names (Algonquin the standout) and NFI Group”

Story continues below advertisement

“@SBarlow_ROB CIBC: “The Biden Climate Plan is an ambitious four-year, US$2 trillion climate agenda most beneficial to Canadian Engineering and Construction (E&C) companies, notably WSP and Stantec” – (research excerpt) Twitter

“Dividend-rich Canadian and U.S. renewable energy stocks: Good under Trump, better under Biden?” - David Berman, Globe Investor

“California power outages are a canary in the mine” – Reuters

***

Bespoke Investment Group reported that 2020 is the worst year for financial stocks relative to the index since 1940,

“It’s been a rough run for the Financial sector of the S&P 500. The sector is trailing the broad market by more than 25% YTD. Through 161 trading days, that’s a record degree of underperformance dating back to 1940 … Even during the worst years of the global financial crisis, YTD relative performance through mid-August wasn’t this bad. It may be tempting to jump in to bank and insurance stocks because the sector has been hit so hard this year, but unfortunately underperformance YTD isn’t a great signal for performance over the rest of the year”

Domestically, the S&P/TSX Financials Index is down 11.8 per cent year to date, including dividends, compared with the broad benchmark’s -0.6 per cent mark.

Story continues below advertisement

" @SBarlow_ROB Bespoke: historically weak U.S. financials” – (research excerpt) Twitter

***

BofA Securities economist Michelle Meyer is using available real-time data to gauge the speed of the U.S. economic recovery. The three major observations are listed under the good, the bad and the ugly,

“Good: a weekly index from the New York Fed and dining data show the economy continues to grow, albeit at a much slower pace. Bad: a wide range of data measuring the degree of “mobility” show the economy leveling off. Ugly: claims remain disturbingly high, particularly given the plunge in unemployment insurance benefits.'

“@SBarlow_ROB BoA: The good, the bad and the ugly in U.S. real-time data” – (research excerpt) Twitter

***

Story continues below advertisement

Diversion: On innovation and (mostly military) incentives, “When The Magic Happens” – Collaborative Fund

Tweet of the Day: “@AndyHomeMetals Metal markets caught out by strength of Chinese stimulus” – Twitter

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow the author of this article:

Follow topics related to this article:

View more suggestions in Following Read more about following topics and authors
Report an error Editorial code of conduct
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies