The Daily Chase: Markets point to positive open, Trudeau faces inflation outrage

Here are five things you need to know today.

Here are five things you need to know today:

Climbing out of a hole: Canadian and U.S. markets ended lower last week with the TSX Composite around a 1.5 month low and the S&P 500 at a one month low. As the string of weekly losses add up south of the border, we are seeing the worst rout since Silicon Valley Bank collapsed. Today, global investors seem disappointed with modest stimulus efforts out of China. Chinese banks cut loan rates, but it was less than expected. Nevertheless, futures have got some pep courtesy of some of the magnificents. Shares of Nvidia are rising in pre-market ahead of earnings Wednesday. We have the second most bullish analyst on at 11:20 a.m. EDT on why he thinks the stock can double from here. Tesla is also rising on a positive note from Baird. Oil could help out our index today, it is up for a third session in a row. Of course, this enthusiasm could come crashing down Friday when Jay Powell speaks at Jackson Hole. Right now markets don't think there will be another rate hike in September but we will watch for what he has to say about that, and any guidance on our “higher for longer” future.

Huddle up: Prime Minister Justin Trudeau is set to meet with his new cabinet at a three day retreat in Prince Edward Island. New numbers from Bloomberg suggest this comes at a time when some Canadians are blaming the government for inflation. According to a Nanos poll 30 per cent of Canadians blame government spending for a rise in consumer prices. The government is getting the blame more than any other factor like the Bank of Canada or Russia's war in Ukraine. We will use this as a jumping off point to discuss concrete solutions on the fiscal side to deal with inflation and the difficulty it has posed for Canadians.