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多伦多证券交易所午盘下跌11点,能源板块表现最差。

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-- 多伦多证券交易所午盘下跌11点,其中能源板块跌幅最大,下跌1.2%。 信息技术板块(+2.4%)和公用事业板块(+0.8%)表现最佳。 加拿大帝国商业银行(CIBC)在5月份题为“十大最佳投资理念”的报告中指出,与美国市场相比,其针对多伦多证券交易所指数的因子映射“更倾向于质量、价值和自由现金流收益率,而较少关注人工智能增长因子”。该银行补充道:“在当前市场广度受限的环境下,高评级和杠铃策略可能成为有效的多元化投资手段。将动量和趋势因子用于资本增值,同时结合价值和收益率因子用于降低成本和获取收益,有助于风险管理。” 加拿大帝国商业银行指出,大型股S&P/TSX 60指数近期开始跑赢更广泛的S&P/TSX综合指数和小型股TSX创业板指数。报告指出,这种按规模划分的相对强度变化可能表明投资者更倾向于质量和流动性,而高评级通常与防御性策略相关。加拿大帝国商业银行(CIBC)表示,其4月份最佳投资组合的回报率为8.53%,命中率为80%,相对于多伦多证券交易所(TSX)指数的超额收益(alpha)为488个基点。今年迄今为止,该投资组合的月度回报率为12.75%,比基准TSX指数高出564个基点。相比之下,TSX指数的回报率为7.1%,标普500指数(SPX)的回报率为5.3%。 以下是其5月份十大最佳投资组合:Cenovus Energy (CVE.TO)、Keyera (KEY.TO)、Whitecap Resources (WCP.TO)、蒙特利尔银行 (BMO.TO)、宏利金融 (MFC.TO)、Power Corp (POW.TO)。 Magna International (MG.TO)、Restaurant Brands (QSR.TO)、Methanex (MX.TO)、Granite Real Estate (GRT-UN.TO)。

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Commodities

US Oil Update: Futures Drop as Iran Proposes Peace Framework via Pakistan

Crude oil futures slipped in midday trading on Friday as Iran delivered a fresh proposal for peace talks to the US through Pakistani mediators, fueling hopes for a diplomatic breakthrough that could eventually reopen the Strait of Hormuz.Front-month West Texas Intermediate crude futures dropped by 2.94% to $101.96 per barrel, while Brent futures were down by 2.04% to $108.12/bbl."With Hormuz remaining largely shut, oil prices have surged more than 25% over the past two weeks, driven by tightening supply and heightened geopolitical risk," Soojin Kim, research analyst at MUFG, said.Tensions between the US and Iran remain elevated despite a ceasefire. President Trump expressed displeasure with the current state of peace talks with Iran on Friday, blaming the country's disjointed leadership for preventing a deal to end the conflict that has roiled global energy markets.Iran sent its latest proposal for negotiations with the US to Pakistani mediators on Thursday, according to media reports, as Trump threatens to maintain the blockade of Iranian ports amid behind-the-scenes diplomacy to end the Middle East conflict.US envoy Steve Witkoff reportedly sent a list of amendments on Monday to reinsert the nuclear issue into the agreement under discussion, with one of the amendments demanding that Iran commit to not attempting to move any enriched uranium.On Friday, the US Department of the Treasury said it could sanction vessels that pay tolls to Iran for safe transit through the Strait of Hormuz, even if those payments are made as charitable donations to Iranian NGOs.The Department said Iranian demands for toll payments may include fiat currency, digital assets, offsets, informal swaps, or charitable donations made to the Iranian Red Crescent Society, Bonyad Mostazafan, or Iranian embassy accounts.Traffic through the Hormuz was cut by half on Apr. 30 to seven crossings from the previous day, with traffic split between four commercial and three non-commercial movements, according to Kpler.OPEC+ is expected to agree at the group's meeting over the weekend on another symbolic production increase of 188,000 barrels per day for June, following the UAE's surprise departure.Rystad analysts said the departure removes one of the few producers in the alliance with meaningful spare capacity and a strong compliance record, undermining OPEC+'s role as a coordinated supply manager.

International

Cargo Traffic to Los Angeles Port Expected to Rise in Week Ending May 16

Cargo traffic at the Port of Los Angeles is expected to rise in the week ending May 16, according to data from the ship-tracking system Port Optimizer.A total of 124,885 20-foot equivalent units, a standardized measure of cargo capacity, are projected to reach the port in the week, the data showed. That volume reflects a roughly 18% increase from the previous week and a 48% rise from a year earlier.Twenty-three freight vessels are scheduled to arrive at the port in the week ending May 16, the data showed. That is more than the 19 vessels each during this week and the week ending May 9.President Donald Trump said Friday he will raise tariffs to 25% next week on European Union cars and trucks being exported to the US, as the EU is not fully complying with their trade deal.Trump said Thursday on Truth Social he is removing tariffs and restrictions on whiskey "having to do with Scotland's ability to work with the Commonwealth of Kentucky on Whiskey and Bourbon," in honor of the UK's King Charles III and Queen Camilla.

Research

Research Alert: CFRA Maintains Sell Opinion On Shares Of Vulcan Materials Company

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our 12-month target by $12 to $266 on an EV/EBITDA of 16.0x our 2026 EBITDA estimate, a discount to its five-year forward average of 16.4x. We lower our 2026 EPS by $0.12 to $9.13 and our 2027 EPS by $0.07 to $10.72. Diesel costs are expected to be a headwind, with an estimated $25M direct impact in Q2. Elevated fuel costs over a sustained period could lead to construction budget constraints and prohibitive financing costs in a higher-for-longer interest rate environment. Labor challenges remain a concern in terms of both availability and cost. While Vulcan markets are seeing much more favorable public construction trends than national averages, the September 2026 IIJA expiration carries spillover risk even to the most favorable markets. If reauthorization faces delays or results in a continuing resolution, states may slow new project lettings despite having access to remaining funds. We think valuation is far too stretched and does not fully reflect macro risks despite strong company fundamentals.

$VMC