–Student competition sponsored by leading online brokerage creates next gen investors as commitment to financial education —
TORONTO, Dec. 21, 2020 (GLOBE NEWSWIRE) — Questrade (www.questrade.com) – Canada’s fastest growing online brokerage – is proud to announce that one of its sponsored teams, QuestradeTeam Success Inc. of John Cabot Secondary School in Mississauga, Ontario was the overall winner of the national, Investment Strategies Program (ISP) run by JA Canada. The goal of the six-week initiative was to educate grade 9 – 12 students on investing basics and principles, so they can make sound financial decisions, and ultimately, achieve success in both work and life. The simulated online competition saw participation from 2,585 students from 114 classrooms in more than 60 schools in Central Ontario alone.
As an ongoing sponsor of JA Central Ontario, Questrade volunteers conducted virtual learning sessions with students to facilitate hands-on learning and activities. Each team, with a unique ‘company’ name, competed to build effective stock portfolios and trade with a mock $100,000 in real-time markets to build their skills during the contest. Questrade TeamSuccess Inc., run by a single grade 11 student, Julian Kokhanovskyy, ranked first in the national competition comprised of 2049 teams with a winning total of $502,468.00 in equity.
“In our second year of sponsoring JA Central Ontario’s Investment Strategies Program, we’re not only honoured to enhance our long-standing partnership with the organization for one of their key financial literacy programs but thrilled to have our own team win the program,” explained Edward Kholodenko, president and CEO, Questrade. “Given it’s our mission to help Canadians achieve financial success and security, there is no better investment than in our youth and their future. We’re proud to play a continued role in their financial literacy, so young Canadians can make smart investing choices when they are ready.”
In addition to the real-life experience and knowledge gained, the winning student received $1,000 towards a TFSA account from Questrade. Questrade presented the prize to the winner in a virtual presentation due to safety protocols, on December 15.
“Once again, we are grateful for Questrade’s support with this important program,” said Jennifer Holmes Weier, president & CEO, JA Central Ontario. “Together we are inspiring students to realize the power and importance of investing, as well as creating the next generation of expert investors.”
About JA Central Ontario JA Central Ontario’s mission is to inspire and prepare young people to succeed in a changing global economy. It does this by bridging the gap between education and the world of work through expert online programs. Focusing on entrepreneurship, financial literacy and work readiness, JA Central Ontario empowers young people to grow their entrepreneurial ideas, hone their work skills, manage their earnings, and secure better lives for themselves, their families, and their communities. JA Central Ontario is accredited by Imagine Canada for excellence in non-profit accountability, transparency, and governance. It is a member of JA Canada and part of JA Worldwide, the world’s largest not-for-profit organization dedicated to educating young people about business. For more information, visit www.jacentralontario.org
About Questrade Questrade (www.questrade.com) is Canada’s fastest growing online brokerage that is changing the Canadian financial services industry by leveraging technology to lower fees and providing a viable alternative to traditional financial investment options, thereby allowing Canadians to “Keep More of their Money.” As a leader and innovator in financial services, Questrade is a trusted ally that advocates for consumers, focused on improving value. Ranked Canada’s #1 rated online broker (MoneySense 2019) and #1 in Investor Satisfaction by J.D. Power (2020), Questrade has been challenging the status quo for more than 20 years. With over $18 billion in assets and more than 100,000 accounts opened every year, Questrade and its companies provide financial products and services: securities, foreign currency investment and online wealth management. For more information visit www.questrade.com, or follow @Questrade.
For more information, visuals, or to arrange an interview with Questrade or JA Central Ontario, contact Susan Willemsen at The Siren Group Inc. Tel: 416-461-1567 or M: 416-402-4880. Email: susan@thesirengroup.com. Visit www.thesirengroup.com or @thesirengroup.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.