Key financial data and events to watch today: Monday, May 18, 2026
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Bank of Canada Issues Strongest Stagflation Warning: Tariffs May Push Q4 Growth Below 1%, High Oil Prices Intensify Inflation
Bank of Canada Governor Macklem stated on Monday that a new round of U.S. tariffs could halve Canada’s fourth-quarter economic growth, dropping it below 1%, while annual inflation will remain at 3%, exceeding the 2% target. He added that if oil prices continue to hover around $100 per barrel, prices could be pushed even higher. Macklem said that if inflation is manageable, he does not want to raise interest rates; however, if inflation exceeds expectations, he also does not want to react too slowly.
BNP Paribas gives Microsoft (MSFT.US) a "Buy" rating: Azure price increases will be gradually implemented after contract renewals, and a deal with SpaceX may be announced soon.
BNP Paribas has rated Microsoft as "Buy" with a target price of $549.
Iranian President will head to New York for UN meeting
"Big Short" Burry opens a position in QXO (QXO.US), betting on building products integration and undervaluation; stock price rises over 7%
Investor Michael Burry disclosed that he has purchased common and preferred shares of QXO (QXO.US), a building products company, citing its integration strategy and the currently depressed stock price. The stock surged 7.2% on Monday.
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