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[music] >> Hello, I'm Greg Bonnell. Welcome to MoneyTalk Live, brought to you by TD Direct Investing.
Every day, I'll be joined by guests from across TD, many of whom you'll only see here.
We're going to take you through what's moving the markets and answer your questions about investing.
Coming up on today's show, TD Direct Investing's Bryan Rogers is going to answer your questions about how to get more out of the WebBroker platform.
And MoneyTalk's Anthony Okolie is going to have a look at a new TD Economics report on why consumers remain downbeat despite some pretty strong economic data south of the border.
Here's how you can get in touch with us.
Just email moneytalklive@td.com or fill out the viewer response box under the video player on WebBroker.
Before we get to all that and our guest of the day, let's get you an update on the markets.
Let's start here at home with TSX Composite Index.
Even though we have the price of crude oil benefiting some of the energy names we have a downdraft.
Had 22,005 points, the TSX Composite Index is down 180 points, almost one full percent. Let's check in on Baytex energy and see if the trade is holding up.
At $5.21, it's up about 3%. We have some heavyweights in the telecom space today.
Sentiment has not been kind towards these names on the street in recent days and weeks. Right now at $44.09, you got BCE down about 4%.
Also looking at Rogers and Telus to the downside today as well.
South of the border, since we kicked off the second quarter, very strong first quarter for the S&P 500, bond yields have kicked higher the last couple of days and equities have pull back. Right now we are 53 points in the hole on the S&P 500, down about one full percent.
Tech heavy NASDAQ, a bit more down, one and 1/4%.
The chipmakers can pull us out of this today. Let's look at Nvidia, it is pulling back about 1.3%.
And that's your market update.
In today's show, we are going to be answering your questions on how to get more out of the WebBroker platform.
Joining us now to help out with all that, Bryan Rogers, senior client education instructor with TD Direct Investing. Great to have you on for the entire program.
>> I'm glad to be here. It's always fun.
>> Let's start having some fun. That's all about the viewer questions. Let's get to the first one. A viewer wants to know, how do I follow which stocks have been upgraded or downgraded today?
>> Yes, speaking of fun, this is an interesting addition to a broker not that long ago where it was and asked from a lot of clients who would say, we want to see, what are the analysts saying? If you pulled up a stock symbol, he would see two or three different analysts, it wouldn't show who was analysing the stock so we added a feature onto WebBroker that is called analyst centre. If you haven't explored this yet, it will be something you really like.
Even if you have, I can show you some tips and tricks on using that, looking at what has been upgraded or downgraded, you can look at trending stocks in a number of different things. Let's jump over to a broker and show that first one where we are in stocks from the beginning, you can see I am under research and stocks, you can go into analysts to see what they are doing from a stock perspective. We have Apple pulled up right now. You can see that there is a price target, a high, a low and an average and it shows the number of analysts, they are showing 28 ratings overall, 16 five, 11 hold, etc. That's the way you can do it stock specific. If you want to see the analysts below, you can see what they are rated at, you can click on the name of the analyst to get more information. It will show you a price target.
You can follow these analysts, like if you wanted to follow someone on social media.
You can follow an analyst here.
The way we are talking on the question, how do we see what has been upgraded and downgraded, today is what you want to do is ego from the beginning, you go to research and then the analyst centre at the top or on the far left side, analyst centre right here, that's going to take you to the analyst centre in general and now you can see it will automatically default to most recent so you can see today it showing the date that it happened, it showing for this one that there is a buy rating, this is the analyst that gave that rating, the company therewith, the price target. You can click this and will take you into the same overview that we saw for Apple as an example.
It's giving you a list as a starting point where you can see the upgrade or downgrade for today's you can see some of them are hold, some of them are by, some could be sell.
You can also filter it.
I only want to see analysts that are five star rated. I want to see their ratings, and not the others.
Most of these are five star rated.
But then I want to see only by ratings or I want to see only sell ratings and so on.
You can go by country, you can go by market cap, so ton of filtering you can do and what I would say Greg is you can go into if you want to see trending stocks, this is one of my favourite things to see to. You can filter this, you can filter by. Like the last 72 hours. You can see the stocks overall, is it a strong body or a bike? You can see what analysts have rated the stock. I have followed some analysts in the past as well.
You can see all of the stocks they have looked at as well. So that is it in a nutshell, the analyst centre.
You can do it on an individual stock basis. The analyst centre will be over available in the overview for each stock you can also do an overall general basis and will give you some ideas of a stock you might want to explore further if it is trending or it has been upgraded or downgraded or anything like that.
>> Lots of useful tools there for the audience to use as they go about doing the research. I've got another one here for you, Bryan. This one is about CDRs, Canadian Depository Receipts. Can you explain them?
>> This question comes up all the time.
It always seems to be a viewer question when we do the sessions. We love answering this question because it's a neat product that is available.
When you think of where it came from, the idea is though stocks like Nvidia, you mentioned Nvidia earlier, it might be something that's out of your price range in terms of being able to buy 100 shares so you may still want to get involved, you could buy one share, and maybe you also want to hedge for Canadian versus US dollars so this product is an all-in-one.
They allow you to buy a fractional piece of those companies, those ones that have really large prices, 800 or $500 per share, whatever ones were really popular that the NEO Exchange put them out to Canadians to be able to purchase these US stocks and buy a fractional piece.
So we jump in there. There is an easy way to understand which ones are which.
You can Google it as well, you can Google the list, look up CDRs and what are the CDRs available.
In WebBroker, if you have a stock you are wanting to buy, let's use Nvidia as an example.
That's when you mentioned earlier. If we start typing in that symbol, you will notice, oh, I thought Nvidia was the US stock, why is it showing in Canadian?
Some times you will have multi-listed stocks. If you see this Canadian and you know it's a stock that is not multi-listed something like TD and RBC, both are listed in New York and on the TSX, if you notice this Canadian flag and click on that, you will notice that the price is quite a bit different. You can see that it is 8443 where is that we go to Nvidia in the US, if I type this in again and then go to the US market, it's $892 US per share. That is way far away from what we saw as the Canadian praise and the reason for that is that it is a CDR, Canadian Depository Receipts.
The New York exchange of the company putting these out has put together numbers of shares that they have and they are holdings where you can participate in up or down movement of the stock and it's also hedged in Canadian dollars as well.
Let's try Apple. That's another one we can look at.
Now if I go to the Canadian, I can see Apple's around, it's in the 190 range at the moment, the US dollar, but we can see 2498. You can do the mask quickly. It's hard to do because there is an exchange rate to pull into, but if you do a Google search, you will find out that it is maybe 1/6 of the underlying stock or 1/7 or whatever it may be.
But the hedging part is really cool too.
You can think about it as if you bought $1000 worth of Canadian and Apple, if the stock went up or down by 40%, you know you are going to have that 40% increase or decrease. If you did that in US dollars, will happen there is depending on what the exchange rate was at the time, a 40% change all the stock in many different numbers well. See you have that hedging element in there also.
>> Good overview of CDRs, Canadian Depository Receipts.
Let's get to another question.
Where do I find more dividend information for a stock beside the current yield on the overview page in WebBroker?
>> Yeah, dividends are super popular.
They are always a popular topic, especially for Canadian investors. I think we like our dividends. It's a great strategy. We have a lot of companies in Canada that pay phenomenal dividends like the Canadian banks and some of our resource companies, gas and oil, things like that.
It makes sense. If you're looking for dividend information and stocks, I know we've done screens and things like that before but if you are just looking for basic information, we can jump into a broker and it will show you where you can find the basic yield and things of that nature and it will show you some screen information as well.
Initially what you're going to want to do is let's say you pull up a stock like TD as an example.
So we will look at Toronto Dominion on the Canadian exchange.
Right now you can see there is an overview, there's charts, there is news.
The overview page is a great place to start because you can scroll down and see rating information as well, there are reports, there is really valuable information there.
But if you are straight up looking for dividend information, you can see it here.
There is the dividend yield.
This is giving you an annual yield all the stock at 5.06% and it is also giving you an annual dividend rate, meaning the dollar amount that is being paid. For every share that you own, you are going to get $4.08. If you owned 100 shares, you are going to get $408. It's simple math.
Then there is some key information. We have videos and WebBroker that can help with this. I will show those later today because I always like to talk about the learning centre.
But you can see it right here. If you already know what that means, ex dividend date, that's a key date meeting if you want to buy the stock, you wanted to buy TD as an example and you wanted to receive the next dividend which will pay on April 30, you have to make sure you buy the stock before this ex dividend date. It is showing April 8 which is coming up shortly so if you bought the stock before then you would receive the next eligible dividend and you can also use it for sales as well and sell it after that ex dividend date and you will still receive the dividend.
So one other area I wanted to show is this is pretty basic information. A lot of times people want to know how it dividend has grown over time. Has it continually been consistent or reduced?
We had a guide on one of our webinars that really focuses on dividend investing for retirement and he will say you can go and look at dividend paying stocks but you want to see if they continuously grow. If they drop their dividend, that might not be a good sign. You might want to steer away from that particular stock.
I want to jump into web broker for one second. I want to show a spot where you can see that fairly easily. There are screeners you can do for dividend growth and things like that but if you're just doing this quickly, if we go to the event section right here, it's still on that same page for TD, we can go to the next section where it says earnings announcements but right decide that it shows dividends.
There is a payment date, the annualized dividend, the $4.08.
It increased recently but you can now go historically and go pretty far back. You can't go super far, there are other areas we can find that information, but we can go back to 2019, it went from 296 to 316, stayed a little while there during COVID, 356, 384.
Just another way to get lots of information.
>> Another valuable tool for investors screening through different metrics interesting to them. We're going to get back to more questions about the web broker platform for Bryan Rogers in just a moment's time.
And a reminder that you can get in touch with us any time.
Just email moneytalklive@td.com or fill out the viewer response box under the video player on WebBroker.
Right now, let's get you updated on the top stories in the world of business and take a look at how the markets are trading.
Got shares of Tesla in the spotlight today.
The company reporting a more than 8% drop in vehicle deliveries for its first quarter compared to the same period last year.
The stock down about 5% right now in the wake of that news. Tesla has also been facing a number of challenges, including increased competition from Chinese EV makers such as BYD. We also have health insurance stocks under pressure on Wall Street. This is after Washington came out, finalized the prescription reimbursement rates for next year and the level that they said is seen as potentially unfavourable for profit margins of some of these names including Humana and United Health. You can see definitely a reaction in the market to this news. Humana, representing the group, down about 14 1/2%.
Also want to check in on the parent company of Calvin Klein and Tommy Hilfiger, it is warning of soft consumer demand, notably in Europe. Those shares down right now 23%. They are on track for their worst daily performance since 1987.
Some of you out there might remember that 87 was a tough time for some stocks. The clothing brand says it expects sales to decrease up to 7% this year.
Quick check in on the main benchmark indices. We will start here on Bay Street with the TSX Composite Index. We have the price of West Texas intermediate crude above $85 per barrel on geopolitical risk, wondering what's going to come of the OPEC meeting this week but it's not enough to keep the broader index in positive territory. We are seeing selling pressure, down 180 points, a little shy of a full percent. South of the border, we talked about the healthcare stocks taking points off the table, we saw Tesla under pressure, bond yields have ticked up in the past couple of days so it has been a great start to the second quarter for traders on the S&P 500. Your holding back about 55 points for me, one full percent.
We are back now with Bryan Rogers, take your questions about the web broker platform. Lots of questions here for you.
Someone wants to know, can I contribute to my RRSP or TFSA online and what about in-kind? What's that all about?
>> Yeah, this is a great question. Some of it has been automated recently.
You can do it on your phone or online. You can do it from your bank account, from a taxable account as well if you want to move funds from there. It's really easy to do.
We will jump into WebBroker and I will show you. And then I will show you the in-kind aspect as well for those who might not know what that is.
Under the accounts have this time, instead of research, we are going to look in accounts.
You will notice transfer cash, transfer cash in from outside of TD and so on, transfer securities.
We are going to work with transfer cash within TD, including contributions and TFSA withdrawals.
There are limitations on some things like RSP and RIF F withdrawals. This is a demo account so there's not much to show.
There are no balances but in the from account I can see my own bank accounts, by TD Canada trust account, I can transfer from there.
If you have a margin account like it's showing right now, you can move friends from their tiered next account which could be your RSP or TFSA. We are at the end of the year before the contribution deadline for RRSPs, you could easily do it that way, you have to go into the bank branch or call anybody, you can do it right away.
If we don't beckon for one second, I wanted to show the in-kind aspect.
If we go back to the main spot, from the very beginning, if I go to accounts and transfer cash within TD, the tab over here is securities transfers.
Why that's important, Greg had mentioned the in-kind, in-kind means I can transfer stock, any old XYZ particular stock in my taxable account, I can move that, the value of that, let's he was valued at $10,000, whatever the stock was at at that time, it's going to be based on the current market value, I would select from here, select my account from and my account to you in on the next two screens we will see it will ask you how many shares, so select the stock first, you will see the symbol from your holdings, how many shares you want to transfer, it will give you the dollar value, and you will be transferring an incline, you don't have to sell it or buy it again, you are saving all those steps. But just remember to check with the tax advisor because there is a tax implication that it is going to be a taxable event so if you have a bit of a loss on it or there's very little gain, that could be a great time to do that. If you have a capital gain, it's just like selling the stock. You are moving into an RSP or TFSA, it's like you sold that stocks you have the capital gain and you may get taxes but in the future it's great because now it's going to be tax-free in the TFSA account or it's going to grow tax-deferred in the RSP and you get that contribution that's going to reduce your taxable income.
>> Good breakdown on that one. Another audience question now. Someone wants to know, where may I pick up the forms to designate my spouse as my successor my TFSA and secondly, RRSP accounts held with TD direct?
>> This is something that is an interesting question because it's something that still on many of these you have to go to a branch, you have to bring the form to the branch to have it applied because of the sensitivity of some of these things in terms of we want to make sure we have that signature and it's stored in our branch properly at TD Direct Investing but there is a way that you want to be proactive by getting those forms ahead of time, you can bring them to a branch. But there are certain ones that you can't do it over an email or electronically.
That being said, I can show you in WebBroker where you can find those forms and several others to which may be useful from a self-service perspective.
If we close this firmware we were earlier, we can go to accounts again comments on the right-hand side and there's this whole self-service section, click on this one by accident but this is where you can change your preferences. I would explore that.
This customized site, site help, you can open a new account from here and so on but the woman you're looking at right now it is they want to assign a beneficiary or trading authority or guarantor on any of your cats.
If you click on that, it opens another page.
I hope you can see that.
>> We are with you.
>> Awesome.
You can see you have account stakeholders, that's what that tab is pertaining to, you can designate an RSP or RIF beneficiary, designated successor holder or beneficiary.
They are usually related to whether it is a spouse or designating as a beneficiary or your children. It will give you a bit of an explanation here as well. Then you can scroll down and see that there are number of different things there also and what I want to highlight just because I was mentioning earlier the contributions to your RSP and TFSA, we didn't talk about the fact that you can also do an automatic investment plan. If you just went through RSP season this year and saw it, I wish I could've done a lot more, if you're thinking you could've contributed more but you spend the money because you forgot about it, you can set up an automatic investment plan. They want to do $300 a month or a couple hundred dollars for paycheck, you can set up this preauthorized deposit form, also known as a monthly contribution plan, and you can call in college to set that up, exceeds $200, you can find a mutual fund you want to invest setting, mutual funds and have commissions, they might have certain fees be considered up as a preauthorized investment plan or called a systematic investment plan. That money could come in, you could invest it.
Take advantage of dollar cost averaging and will be able to build your TFSA or your RSP automatically.
You can fix it and forget it. This is where you find the board to do that also.
So just download those forms, open it up and you are all set to have it automatic for the rest of the year or going forward.
>> Great stuff. Another question from the audience for Bryan. Someone wants to know, if I didn't sell my stock by the closing bell, do I have to wait for the next business day to sell? I think I know the answer.
[laughing] >> Let me get back to WebBroker here for one second. I want to pull up the screen again.
There we go.
In terms of selling the stock after the closing bell, I will go back to a broker.
Sorry, I wanted to get off that of the screen for a moment, it's a question that comes up quite often and it's something that people are often worried about thinking, hey, I have earnings coming up on my stock and they are going to announce, I will find it online order it will oftentimes say in the news in terms of one the stock announces earnings, you might be concerned, what if it's really bad and I want to get out of the stock and I don't want to have to wait until the next day, that would not be very good, I would have to watch it go down after hours let's say if they do announce and they oftentimes do announce earnings before, slightly before the market or aftermarket hours on purpose because they don't want that to happen where if there is some really bad news or there's something that was a surprise, they don't want the stock to have a major change during regular market hours.
So they do it after hours typically. But if you still want to trade or potentially biased stock after 4 o'clock or before the 930 start time, vice versa, you can do that and I can show you how in WebBroker.
We will do a quick walk-through of those steps.
We are on research. We will pick a random stock.
So Apple as an example, if the US stock and that's one of the key qualifiers we want to remember to is unfortunately it's not available for Canadian stocks. You can't buy on the extended hours prior to the market or after hours. You could potentially set a limit order and it may feel slightly after 4 o'clock that you can't intentionally Bible for market hours and sell aftermarket hours with Canadian stocks.
It has three US dollar and a limit order.
If that's something that's brand-new to you and you don't know what it is, I would recommend that you explore when we get to the Learning Center later because I do like to show that, there are tons of classes and other explanations of order types.
But what a limit order essentially means is establishing or setting a price. If I wanted to buy Apple for example, I'll put in for example 100 chairs. I want to buy 100 shares of Apple. I can see there's a current price right now.
I was thinking I'm worried Apple is going to announce earnings after hours. Maybe you want to sell it in the extended session. What you can do is you set a limit order, put a limit price in and if you want to say I think it might drop after hours, that could be one thing you do too. You could set a limit order now and say $160.
This is the key section, good till, good till day, good till cancel is another one meaning that's good for 180 days, you can specify as well. These are all just for regular orders but down at the bottom you see day plus extended market so if I do that, you can only do it for a day meaning right now this order would be good for right now. I will be setting a limit of 160. That would be great if Apple dropped down to 160 and I was able to buy it but it is also available for the extended market. That would be available until 7 PM Eastern time tonight so after the market closes at four, it would still go to an extended hours session and if Apple did draw, it announced its earnings and it dropped slightly, I would be able to buy it at 160. If I do this in the morning, you can enter at any time and trade from 8 AM to 930, if I do day plus extended it could follow her track from 8 AM until 7 PM and if it satisfies my limit order in any of those times, aftermarket or during the regular market hours or before, I could have my order filled and go through in the case.
>> Tools there for the after hours trade, whether you are an early bird, which I'm not, but I do pay attention after 4 o'clock during earnings season to what's going on in the after-hours trade.
As always, make sure you do your own research before making any investment decisions.
we will get back to your questions for Bryan Rogers on how to get part of the WebBroker platform in just a moment's time.
And a reminder that you get in touch with us at any time.
Do you have a question about investing or what's driving the markets?
Our guests are eager to hear what's on your mind, so send us your questions.
There are two ways you can get in touch with us.
You can send us an email anytime at moneytalklive@td.com or you can use the question box right below the screen here on WebBroker. Just write in your question and hit send.
We'll see if one of our guests can get you the answer right here at MoneyTalk Live.
We are back with Bryan Rogers taking your questions on the WebBroker platform.
I thought we would give you a longer break than that but you are earning your pay today. Ready for the next one?
>> Yeah, go for it!
>> Someone wants to know, can I buy GICs within WebBroker and his TD the only issuer of GICs available?
>> Yeah, this has been a question that's much more common these days because I think with the higher interest rates, it was for five years ago, we would get a lot of questions on GICs.
People stayed away from that, it was only .05% rate of return or something like that.
So it wasn't very common for sure.
But since it is more popular, we do like to share this one because of the fact that people often think that if you go to a branch as an example, TD Canada trust, you can buy GICs there but they are only TD GIC product, you're still getting an okay rate of return. If you want to shop around and see what other GICs were available and what other issuers are available, that is something you can find on my broker. There is a really good list and you can buy them directly in the platform there. They are listed all the time and updated quite frequently slowed safe we jump in, we jump into a broker and I'll show you where that is.
Often times is under research which is where you are going to get this information initially.
You go to the GIC Rate Sheet right here.
That's when you take you to the page that has all the different rates which makes sense, right?
But initially it starts out with all GICs.
It will show you short-term, you can see a lot of these TD GICs, they are really short term like 30 to 60, 16 and 90 and so on and you can see other rates available.
If you scroll down you can go by the tabs to and quickly exclude all this other stuff. If you scroll down on the first plate, you will start to see that there is a number of different issuers which is awesome. We have equitable trust, we have Laurentian Bank, we have home bank.
You are still doing this within your TD Direct Investing You're able to buy these because we are a brokerage so all of these are available for you to purchase.
If you want to find the highest rate, if you're looking at equitable trust, Laurentian, home bank, you can scroll through and see which ones might be higher than others. You also want to keep in consideration the timeframe, do you want one year, two years? Depending on what's going on in the marketplace, there have been times or even the longer-term ones are even lower which is a situation like we are seeing right now and that is often times related to whether interest rates are going to come down.
You can scroll down and go to the four or five years, you are going to see these rates. These different columns mean different things. You are going to normally see, depending on how you want the GIC, you wanted to be compounded annually if it's more than one year. It will show you the annual rate, you want it paid out semiannually, there's a number of different choices.
But whichever one you want to select you can just click on and purchase that amount. Click on the dollar amount and place the order. Go to preview order before you place this. It used to be you could only call in but we added that on is another upgrade into a broker to say, let's make this very easy so clients can buy whatever GIC they like. You have to do it within a certain number of hours, the market hours. Outside of that, you could not do that.
But as long as you are within market hours you can purchase GICs really easily on my broker.
>> Great tool therefore the viewer.
Another question here.
This is a timely one. They want to know where they can go to access their tax information on what broker?
>> Yes, yes!
That is a timely one, for sure. We are getting very close to where you are going to have to file your taxes by the end of April and often times if you just started investing, especially in a taxable account, that's one of the biggest situations.
You want to go to a tax advisor as well.
These accounts are self-directed. Finding those forms can be tricky at first. We will show you where you can find that.
There is also a tax information Centre that has a ton of frequently asked questions and things are related to direct investing what you would do from a tax perspective.
Meanwhile, let's show you where we can jump into what broker and see where those documents are.
My account is a demo account once again.
If I was in my own account there would be a bit more showing but if I go to the top right-hand side, notice that you have your, this is similar to what I showed earlier, I have my name here, if I click on this it will take me to one of those self-service things, customize site.
That's where I said you could customize the time out of your account, you can change, you can rename your accounts and things like that.
It's up in the same area. If you click on your name on the top right-hand side and get this menu, you go to documents and e-services. You've done that before if you look for your statements. You've probably seen this but maybe you've been ignoring it because of the fact that it wasn't tax time. If you go here, there's your tax documents. Anything to be sent to the CRA for example, for example documents relating to capital gains or losses.
There is investment income summary that you may have received on GICs or bonds, things like that, and is also a trading summary to which will show you all of your buys and sells, any money you made from those, and he losses from those and will also show you the documents as well.
So anything you really need to do your taxes aside from you might need TurboTax for an advisor to help you with it, that's not included in here but if you are looking for those forms that you can use to file the taxes, then we have those available for you there.
>> I'm the person in my family gathers all the forms for everybody so, yeah, they can add up but that's a great place to start.
We are going to get back to your questions for Bryan Rogers on how to get part of the WebBroker platform and just moments time.
As always, make sure you do your own research before making any investment decisions.
and a reminder that you get in touch with us in any time.
Do you have a question about investing or what's driving the markets?
Our guests are eager to hear what's on your mind, so send us your questions.
There are two ways you can get in touch with us.
You can send us an email anytime at moneytalklive@td.com or you can use the question box right below the screen here on WebBroker. Just write in your question and hit send.
We'll see if one of our guests can get you the answer right here at MoneyTalk Live.
If you keep your eye on American economic data, you know they have low unemployment, strong GDP growth, declining inflation and solid wage gains but despite that, many Americans are still feeling less optimistic than all of that with the death.
Anthony Okolie is now taking a look at a new TD Economics reported claiming some of the reasons for this disconnect. What's going on out there?
>> According to official data, the US economy is performing extremely well. It's actually outperforming many of its it G7 nation peers.
One factor is the US consumer.
Since central banks began hiking rates in 2022, the US consumer spending has outpaced all of its peers, as the next chart shows. More recent data shows that per capita spending across most other advanced economies is already weakening under the weight of higher interest rates.
In the US, he continues to expand at a pretty healthy clip.
Despite this, measures of consumer sentiment have been notably lower than what's such strong economic data would normally merit.
So what gives? TD Economics highlight several reasons that fall into three broad categories.
One, inflation, interest rates, and consumers internalization of external noneconomic factors, a.k.a. referred pain.
We will start with inflation.
While the rate of inflation may have cold, prices are still pretty elevated in the US. Steep price jumps particularly for the things that people buy, things like groceries for example, and research has shown, according to TD Economics, that consumers are heavily influenced by prices of frequently bought items. Even though real wages and incomes are now on the rise again, consumers purchasing power has not regained all the ground lost during the inflation surge as this next chart shows.
Another factor that TD Economics points to you is interest rates, particularly the fact that the current CPI basket does not account for interest expenses. Now, at this next chart shows, CPI is likely understating the pain that consumers feel as rising interest rates make it more expensive to make major purchases on credit, things like buying a home or buying a car for example. With consumers feeling a high rate of inflation CPI data, this might be dampening sentiment.
Finally, another thesis to explain this unusually low consumer sentiment is what is known as the referred pain hypothesis.
This suggests that consumers gloomy mood is due to noneconomic concerns, things like increasing political distress, rising cultural distrust and general dissatisfaction with government institutions.
This has left many Americans feeling weighed down under a general sense of pessimism, and that has disconnected from the health and economic data we are seeing today.
>> A lot of factors that play there. What about the outlook for the US economy, how does it compare to the G7? We know what the data tells us.
>> While consumer spending has defied the downbeat mood reported on G7 surveys, it may be a matter of time before spending catches. While TD Economics expects growth to gear down this year, the US is still expected to lead the rest of the G7 countries in real GDP growth this year with a forecast of 1.6% economic growth by the end of this year on a Q4 for Q4 basis.
>> Fascinating stuff, definitely something to keep an eye on. Thanks for that.
>> My pleasure.
>> MoneyTalk's Anthony Okolie.
Now, let's take a look at the markets.
We are having a look at TD's Advanced Dashboard, a platform designed for active traders available through TD Direct Investing.
We are looking at the TSX 60, sorting by price and volume.
The telecom stock BCE is down about 4%, Rogers is down just shy of 3%. Sentiment on the street has not been great towards the telecom names as of late, we see it reflected in our share prices. We have the price of American benchmark crude, but 85 bucks per barrel today. What is OPEC going to get up to in the next meeting? Some energy names are up modestly but it's not enough to push back against the drown draft on those heavyweights and the financial space, we are not seeing a big draw down there but there's model agreeing on the screen so it's not adding to the topline number.
The S&P 500 had its best first quarter in years. The second quarter has not been as successful. Some names like AMD to the downside, Tesla moving on its own news apart from economic conditions, the deliveries for the first quarter disappointing the streets.
We are back now with Bryan Rogers from TD Direct Investing. Let's squeeze in another question before we say goodbye.
Someone wants to know where they would go if they wanted to learn more about charting or technical analysis on the platform?
>> I hope I can do that one quickly because there is so much information there, but at least to get started I can point people in the right direction.
If we jump into WebBroker, if you are interested in technical analysis, for those that might not know what this is, if we are explaining this as fundamental analysis, you are looking at numbers related to the stock, you can look at reports and financial information, but technical is more around the trend with the stock itself. If we are in WebBroker, we go to research. Often times we are starting with research. We go to the bottom one, under technicals, this is an area where outside of looking at the specific stock, you can do the same thing, look up Apple, under the technical tab, gives you the same kind of information. If you want to know about technicals in general, this listing is from, I go down to the bottom, it is called trading central.
We can see all kinds of technical charts on most recently viewed, most food bowlers, etc.
This is an avenue within WebBroker where we can start to find little ideas. It's almost a screen where you can see ideas based on technical analysis that they are providing for us. From a learning perspective, what Greg was talking about was you have future ideas which you can click on. If you are brand-new, novice, good education. Click on the little education And now there's tons of great information where it will show an introduction say what this is all about, there's technical analysis, you can go into what are the different patterns that you might find to be looking for. You can click on all these and he will give you more information on each one. It will show you an example and some trading considerations.
One of my favourite thousand example I believe it's under the oscillators, Bollinger Bands.
I really like the description. It's easy to implement as you can use Bollinger Bands and it tells you how to use it or trading considerations. Remember, it's not a crystal ball. It's all going to be accurate 100% of the time.
You can learn about this and how you would use it and then you can test it out and apply it on some charts within WebBroker or Advanced Dashboard. It's a good way to get started on learning about technical analysis.
>> That's a technicals. What about web broker users wanting to learn more about investing in general?
>> That's a great question.
It's near and dear to my heart because I am on our education team. We do classes all the time, master classes and things like that.
In WebBroker at the top, we try to make it as intuitive as possible, you have a learn tab, you have master classes available, that's more like a live coaching session in a way where multiple people sign in and they can ask questions during a Q&A or tab. Webinars are fairly similar, they are usually live with professionals or people we have as influencers or things like that within the financial industry.
For live events, you can ask questions in the last little bit. There is videos in the learning tab. You can search up here.
If I search margin or order entry, it's gonna give you a number of hits that are going to show you what's available in terms of videos or classes or webinars coming up.
One thing I would highlight is if you want to filter, this is a really good point to be aware of, these are upcoming events that you can't filter these, they are ones that are coming up in the near future so definitely explore that.
But if we go to past events and we want to filter by topic, let's say if you're looking for managing taxes, that's a popular one for retirement staff and tax webinars and things like that, I apply the filters in a way to get a number of upcoming events that are related to retirement. There is Nicole, you see her quite often on MoneyTalk.
All kinds of different things to explore, endless amounts of information that you can find if you are looking to learn more about investing.
>> Always great to have you on, especially for a full program.
>> Alright, thanks so much.
>> Our thanks to Bryan Rogers, Senior client education instructor with TD Direct Investing. As always, make sure you do your own research before making any investment decisions. if we can get your questions today, we will try to get into future shows. Stay tuned for tomorrow show. Robert Both, Senior macro strategist at TD Securities will be our guest and he wants to give us a preview of next week's BOC rate decision and we will let him do it. He will also take your questions about the economy and interest rates. Get those in ahead of time, just email moneytalklive@td.com. That's all the time we have for the show today. Thanks for watching. See you tomorrow.
[music]
Every day, I'll be joined by guests from across TD, many of whom you'll only see here.
We're going to take you through what's moving the markets and answer your questions about investing.
Coming up on today's show, TD Direct Investing's Bryan Rogers is going to answer your questions about how to get more out of the WebBroker platform.
And MoneyTalk's Anthony Okolie is going to have a look at a new TD Economics report on why consumers remain downbeat despite some pretty strong economic data south of the border.
Here's how you can get in touch with us.
Just email moneytalklive@td.com or fill out the viewer response box under the video player on WebBroker.
Before we get to all that and our guest of the day, let's get you an update on the markets.
Let's start here at home with TSX Composite Index.
Even though we have the price of crude oil benefiting some of the energy names we have a downdraft.
Had 22,005 points, the TSX Composite Index is down 180 points, almost one full percent. Let's check in on Baytex energy and see if the trade is holding up.
At $5.21, it's up about 3%. We have some heavyweights in the telecom space today.
Sentiment has not been kind towards these names on the street in recent days and weeks. Right now at $44.09, you got BCE down about 4%.
Also looking at Rogers and Telus to the downside today as well.
South of the border, since we kicked off the second quarter, very strong first quarter for the S&P 500, bond yields have kicked higher the last couple of days and equities have pull back. Right now we are 53 points in the hole on the S&P 500, down about one full percent.
Tech heavy NASDAQ, a bit more down, one and 1/4%.
The chipmakers can pull us out of this today. Let's look at Nvidia, it is pulling back about 1.3%.
And that's your market update.
In today's show, we are going to be answering your questions on how to get more out of the WebBroker platform.
Joining us now to help out with all that, Bryan Rogers, senior client education instructor with TD Direct Investing. Great to have you on for the entire program.
>> I'm glad to be here. It's always fun.
>> Let's start having some fun. That's all about the viewer questions. Let's get to the first one. A viewer wants to know, how do I follow which stocks have been upgraded or downgraded today?
>> Yes, speaking of fun, this is an interesting addition to a broker not that long ago where it was and asked from a lot of clients who would say, we want to see, what are the analysts saying? If you pulled up a stock symbol, he would see two or three different analysts, it wouldn't show who was analysing the stock so we added a feature onto WebBroker that is called analyst centre. If you haven't explored this yet, it will be something you really like.
Even if you have, I can show you some tips and tricks on using that, looking at what has been upgraded or downgraded, you can look at trending stocks in a number of different things. Let's jump over to a broker and show that first one where we are in stocks from the beginning, you can see I am under research and stocks, you can go into analysts to see what they are doing from a stock perspective. We have Apple pulled up right now. You can see that there is a price target, a high, a low and an average and it shows the number of analysts, they are showing 28 ratings overall, 16 five, 11 hold, etc. That's the way you can do it stock specific. If you want to see the analysts below, you can see what they are rated at, you can click on the name of the analyst to get more information. It will show you a price target.
You can follow these analysts, like if you wanted to follow someone on social media.
You can follow an analyst here.
The way we are talking on the question, how do we see what has been upgraded and downgraded, today is what you want to do is ego from the beginning, you go to research and then the analyst centre at the top or on the far left side, analyst centre right here, that's going to take you to the analyst centre in general and now you can see it will automatically default to most recent so you can see today it showing the date that it happened, it showing for this one that there is a buy rating, this is the analyst that gave that rating, the company therewith, the price target. You can click this and will take you into the same overview that we saw for Apple as an example.
It's giving you a list as a starting point where you can see the upgrade or downgrade for today's you can see some of them are hold, some of them are by, some could be sell.
You can also filter it.
I only want to see analysts that are five star rated. I want to see their ratings, and not the others.
Most of these are five star rated.
But then I want to see only by ratings or I want to see only sell ratings and so on.
You can go by country, you can go by market cap, so ton of filtering you can do and what I would say Greg is you can go into if you want to see trending stocks, this is one of my favourite things to see to. You can filter this, you can filter by. Like the last 72 hours. You can see the stocks overall, is it a strong body or a bike? You can see what analysts have rated the stock. I have followed some analysts in the past as well.
You can see all of the stocks they have looked at as well. So that is it in a nutshell, the analyst centre.
You can do it on an individual stock basis. The analyst centre will be over available in the overview for each stock you can also do an overall general basis and will give you some ideas of a stock you might want to explore further if it is trending or it has been upgraded or downgraded or anything like that.
>> Lots of useful tools there for the audience to use as they go about doing the research. I've got another one here for you, Bryan. This one is about CDRs, Canadian Depository Receipts. Can you explain them?
>> This question comes up all the time.
It always seems to be a viewer question when we do the sessions. We love answering this question because it's a neat product that is available.
When you think of where it came from, the idea is though stocks like Nvidia, you mentioned Nvidia earlier, it might be something that's out of your price range in terms of being able to buy 100 shares so you may still want to get involved, you could buy one share, and maybe you also want to hedge for Canadian versus US dollars so this product is an all-in-one.
They allow you to buy a fractional piece of those companies, those ones that have really large prices, 800 or $500 per share, whatever ones were really popular that the NEO Exchange put them out to Canadians to be able to purchase these US stocks and buy a fractional piece.
So we jump in there. There is an easy way to understand which ones are which.
You can Google it as well, you can Google the list, look up CDRs and what are the CDRs available.
In WebBroker, if you have a stock you are wanting to buy, let's use Nvidia as an example.
That's when you mentioned earlier. If we start typing in that symbol, you will notice, oh, I thought Nvidia was the US stock, why is it showing in Canadian?
Some times you will have multi-listed stocks. If you see this Canadian and you know it's a stock that is not multi-listed something like TD and RBC, both are listed in New York and on the TSX, if you notice this Canadian flag and click on that, you will notice that the price is quite a bit different. You can see that it is 8443 where is that we go to Nvidia in the US, if I type this in again and then go to the US market, it's $892 US per share. That is way far away from what we saw as the Canadian praise and the reason for that is that it is a CDR, Canadian Depository Receipts.
The New York exchange of the company putting these out has put together numbers of shares that they have and they are holdings where you can participate in up or down movement of the stock and it's also hedged in Canadian dollars as well.
Let's try Apple. That's another one we can look at.
Now if I go to the Canadian, I can see Apple's around, it's in the 190 range at the moment, the US dollar, but we can see 2498. You can do the mask quickly. It's hard to do because there is an exchange rate to pull into, but if you do a Google search, you will find out that it is maybe 1/6 of the underlying stock or 1/7 or whatever it may be.
But the hedging part is really cool too.
You can think about it as if you bought $1000 worth of Canadian and Apple, if the stock went up or down by 40%, you know you are going to have that 40% increase or decrease. If you did that in US dollars, will happen there is depending on what the exchange rate was at the time, a 40% change all the stock in many different numbers well. See you have that hedging element in there also.
>> Good overview of CDRs, Canadian Depository Receipts.
Let's get to another question.
Where do I find more dividend information for a stock beside the current yield on the overview page in WebBroker?
>> Yeah, dividends are super popular.
They are always a popular topic, especially for Canadian investors. I think we like our dividends. It's a great strategy. We have a lot of companies in Canada that pay phenomenal dividends like the Canadian banks and some of our resource companies, gas and oil, things like that.
It makes sense. If you're looking for dividend information and stocks, I know we've done screens and things like that before but if you are just looking for basic information, we can jump into a broker and it will show you where you can find the basic yield and things of that nature and it will show you some screen information as well.
Initially what you're going to want to do is let's say you pull up a stock like TD as an example.
So we will look at Toronto Dominion on the Canadian exchange.
Right now you can see there is an overview, there's charts, there is news.
The overview page is a great place to start because you can scroll down and see rating information as well, there are reports, there is really valuable information there.
But if you are straight up looking for dividend information, you can see it here.
There is the dividend yield.
This is giving you an annual yield all the stock at 5.06% and it is also giving you an annual dividend rate, meaning the dollar amount that is being paid. For every share that you own, you are going to get $4.08. If you owned 100 shares, you are going to get $408. It's simple math.
Then there is some key information. We have videos and WebBroker that can help with this. I will show those later today because I always like to talk about the learning centre.
But you can see it right here. If you already know what that means, ex dividend date, that's a key date meeting if you want to buy the stock, you wanted to buy TD as an example and you wanted to receive the next dividend which will pay on April 30, you have to make sure you buy the stock before this ex dividend date. It is showing April 8 which is coming up shortly so if you bought the stock before then you would receive the next eligible dividend and you can also use it for sales as well and sell it after that ex dividend date and you will still receive the dividend.
So one other area I wanted to show is this is pretty basic information. A lot of times people want to know how it dividend has grown over time. Has it continually been consistent or reduced?
We had a guide on one of our webinars that really focuses on dividend investing for retirement and he will say you can go and look at dividend paying stocks but you want to see if they continuously grow. If they drop their dividend, that might not be a good sign. You might want to steer away from that particular stock.
I want to jump into web broker for one second. I want to show a spot where you can see that fairly easily. There are screeners you can do for dividend growth and things like that but if you're just doing this quickly, if we go to the event section right here, it's still on that same page for TD, we can go to the next section where it says earnings announcements but right decide that it shows dividends.
There is a payment date, the annualized dividend, the $4.08.
It increased recently but you can now go historically and go pretty far back. You can't go super far, there are other areas we can find that information, but we can go back to 2019, it went from 296 to 316, stayed a little while there during COVID, 356, 384.
Just another way to get lots of information.
>> Another valuable tool for investors screening through different metrics interesting to them. We're going to get back to more questions about the web broker platform for Bryan Rogers in just a moment's time.
And a reminder that you can get in touch with us any time.
Just email moneytalklive@td.com or fill out the viewer response box under the video player on WebBroker.
Right now, let's get you updated on the top stories in the world of business and take a look at how the markets are trading.
Got shares of Tesla in the spotlight today.
The company reporting a more than 8% drop in vehicle deliveries for its first quarter compared to the same period last year.
The stock down about 5% right now in the wake of that news. Tesla has also been facing a number of challenges, including increased competition from Chinese EV makers such as BYD. We also have health insurance stocks under pressure on Wall Street. This is after Washington came out, finalized the prescription reimbursement rates for next year and the level that they said is seen as potentially unfavourable for profit margins of some of these names including Humana and United Health. You can see definitely a reaction in the market to this news. Humana, representing the group, down about 14 1/2%.
Also want to check in on the parent company of Calvin Klein and Tommy Hilfiger, it is warning of soft consumer demand, notably in Europe. Those shares down right now 23%. They are on track for their worst daily performance since 1987.
Some of you out there might remember that 87 was a tough time for some stocks. The clothing brand says it expects sales to decrease up to 7% this year.
Quick check in on the main benchmark indices. We will start here on Bay Street with the TSX Composite Index. We have the price of West Texas intermediate crude above $85 per barrel on geopolitical risk, wondering what's going to come of the OPEC meeting this week but it's not enough to keep the broader index in positive territory. We are seeing selling pressure, down 180 points, a little shy of a full percent. South of the border, we talked about the healthcare stocks taking points off the table, we saw Tesla under pressure, bond yields have ticked up in the past couple of days so it has been a great start to the second quarter for traders on the S&P 500. Your holding back about 55 points for me, one full percent.
We are back now with Bryan Rogers, take your questions about the web broker platform. Lots of questions here for you.
Someone wants to know, can I contribute to my RRSP or TFSA online and what about in-kind? What's that all about?
>> Yeah, this is a great question. Some of it has been automated recently.
You can do it on your phone or online. You can do it from your bank account, from a taxable account as well if you want to move funds from there. It's really easy to do.
We will jump into WebBroker and I will show you. And then I will show you the in-kind aspect as well for those who might not know what that is.
Under the accounts have this time, instead of research, we are going to look in accounts.
You will notice transfer cash, transfer cash in from outside of TD and so on, transfer securities.
We are going to work with transfer cash within TD, including contributions and TFSA withdrawals.
There are limitations on some things like RSP and RIF F withdrawals. This is a demo account so there's not much to show.
There are no balances but in the from account I can see my own bank accounts, by TD Canada trust account, I can transfer from there.
If you have a margin account like it's showing right now, you can move friends from their tiered next account which could be your RSP or TFSA. We are at the end of the year before the contribution deadline for RRSPs, you could easily do it that way, you have to go into the bank branch or call anybody, you can do it right away.
If we don't beckon for one second, I wanted to show the in-kind aspect.
If we go back to the main spot, from the very beginning, if I go to accounts and transfer cash within TD, the tab over here is securities transfers.
Why that's important, Greg had mentioned the in-kind, in-kind means I can transfer stock, any old XYZ particular stock in my taxable account, I can move that, the value of that, let's he was valued at $10,000, whatever the stock was at at that time, it's going to be based on the current market value, I would select from here, select my account from and my account to you in on the next two screens we will see it will ask you how many shares, so select the stock first, you will see the symbol from your holdings, how many shares you want to transfer, it will give you the dollar value, and you will be transferring an incline, you don't have to sell it or buy it again, you are saving all those steps. But just remember to check with the tax advisor because there is a tax implication that it is going to be a taxable event so if you have a bit of a loss on it or there's very little gain, that could be a great time to do that. If you have a capital gain, it's just like selling the stock. You are moving into an RSP or TFSA, it's like you sold that stocks you have the capital gain and you may get taxes but in the future it's great because now it's going to be tax-free in the TFSA account or it's going to grow tax-deferred in the RSP and you get that contribution that's going to reduce your taxable income.
>> Good breakdown on that one. Another audience question now. Someone wants to know, where may I pick up the forms to designate my spouse as my successor my TFSA and secondly, RRSP accounts held with TD direct?
>> This is something that is an interesting question because it's something that still on many of these you have to go to a branch, you have to bring the form to the branch to have it applied because of the sensitivity of some of these things in terms of we want to make sure we have that signature and it's stored in our branch properly at TD Direct Investing but there is a way that you want to be proactive by getting those forms ahead of time, you can bring them to a branch. But there are certain ones that you can't do it over an email or electronically.
That being said, I can show you in WebBroker where you can find those forms and several others to which may be useful from a self-service perspective.
If we close this firmware we were earlier, we can go to accounts again comments on the right-hand side and there's this whole self-service section, click on this one by accident but this is where you can change your preferences. I would explore that.
This customized site, site help, you can open a new account from here and so on but the woman you're looking at right now it is they want to assign a beneficiary or trading authority or guarantor on any of your cats.
If you click on that, it opens another page.
I hope you can see that.
>> We are with you.
>> Awesome.
You can see you have account stakeholders, that's what that tab is pertaining to, you can designate an RSP or RIF beneficiary, designated successor holder or beneficiary.
They are usually related to whether it is a spouse or designating as a beneficiary or your children. It will give you a bit of an explanation here as well. Then you can scroll down and see that there are number of different things there also and what I want to highlight just because I was mentioning earlier the contributions to your RSP and TFSA, we didn't talk about the fact that you can also do an automatic investment plan. If you just went through RSP season this year and saw it, I wish I could've done a lot more, if you're thinking you could've contributed more but you spend the money because you forgot about it, you can set up an automatic investment plan. They want to do $300 a month or a couple hundred dollars for paycheck, you can set up this preauthorized deposit form, also known as a monthly contribution plan, and you can call in college to set that up, exceeds $200, you can find a mutual fund you want to invest setting, mutual funds and have commissions, they might have certain fees be considered up as a preauthorized investment plan or called a systematic investment plan. That money could come in, you could invest it.
Take advantage of dollar cost averaging and will be able to build your TFSA or your RSP automatically.
You can fix it and forget it. This is where you find the board to do that also.
So just download those forms, open it up and you are all set to have it automatic for the rest of the year or going forward.
>> Great stuff. Another question from the audience for Bryan. Someone wants to know, if I didn't sell my stock by the closing bell, do I have to wait for the next business day to sell? I think I know the answer.
[laughing] >> Let me get back to WebBroker here for one second. I want to pull up the screen again.
There we go.
In terms of selling the stock after the closing bell, I will go back to a broker.
Sorry, I wanted to get off that of the screen for a moment, it's a question that comes up quite often and it's something that people are often worried about thinking, hey, I have earnings coming up on my stock and they are going to announce, I will find it online order it will oftentimes say in the news in terms of one the stock announces earnings, you might be concerned, what if it's really bad and I want to get out of the stock and I don't want to have to wait until the next day, that would not be very good, I would have to watch it go down after hours let's say if they do announce and they oftentimes do announce earnings before, slightly before the market or aftermarket hours on purpose because they don't want that to happen where if there is some really bad news or there's something that was a surprise, they don't want the stock to have a major change during regular market hours.
So they do it after hours typically. But if you still want to trade or potentially biased stock after 4 o'clock or before the 930 start time, vice versa, you can do that and I can show you how in WebBroker.
We will do a quick walk-through of those steps.
We are on research. We will pick a random stock.
So Apple as an example, if the US stock and that's one of the key qualifiers we want to remember to is unfortunately it's not available for Canadian stocks. You can't buy on the extended hours prior to the market or after hours. You could potentially set a limit order and it may feel slightly after 4 o'clock that you can't intentionally Bible for market hours and sell aftermarket hours with Canadian stocks.
It has three US dollar and a limit order.
If that's something that's brand-new to you and you don't know what it is, I would recommend that you explore when we get to the Learning Center later because I do like to show that, there are tons of classes and other explanations of order types.
But what a limit order essentially means is establishing or setting a price. If I wanted to buy Apple for example, I'll put in for example 100 chairs. I want to buy 100 shares of Apple. I can see there's a current price right now.
I was thinking I'm worried Apple is going to announce earnings after hours. Maybe you want to sell it in the extended session. What you can do is you set a limit order, put a limit price in and if you want to say I think it might drop after hours, that could be one thing you do too. You could set a limit order now and say $160.
This is the key section, good till, good till day, good till cancel is another one meaning that's good for 180 days, you can specify as well. These are all just for regular orders but down at the bottom you see day plus extended market so if I do that, you can only do it for a day meaning right now this order would be good for right now. I will be setting a limit of 160. That would be great if Apple dropped down to 160 and I was able to buy it but it is also available for the extended market. That would be available until 7 PM Eastern time tonight so after the market closes at four, it would still go to an extended hours session and if Apple did draw, it announced its earnings and it dropped slightly, I would be able to buy it at 160. If I do this in the morning, you can enter at any time and trade from 8 AM to 930, if I do day plus extended it could follow her track from 8 AM until 7 PM and if it satisfies my limit order in any of those times, aftermarket or during the regular market hours or before, I could have my order filled and go through in the case.
>> Tools there for the after hours trade, whether you are an early bird, which I'm not, but I do pay attention after 4 o'clock during earnings season to what's going on in the after-hours trade.
As always, make sure you do your own research before making any investment decisions.
we will get back to your questions for Bryan Rogers on how to get part of the WebBroker platform in just a moment's time.
And a reminder that you get in touch with us at any time.
Do you have a question about investing or what's driving the markets?
Our guests are eager to hear what's on your mind, so send us your questions.
There are two ways you can get in touch with us.
You can send us an email anytime at moneytalklive@td.com or you can use the question box right below the screen here on WebBroker. Just write in your question and hit send.
We'll see if one of our guests can get you the answer right here at MoneyTalk Live.
We are back with Bryan Rogers taking your questions on the WebBroker platform.
I thought we would give you a longer break than that but you are earning your pay today. Ready for the next one?
>> Yeah, go for it!
>> Someone wants to know, can I buy GICs within WebBroker and his TD the only issuer of GICs available?
>> Yeah, this has been a question that's much more common these days because I think with the higher interest rates, it was for five years ago, we would get a lot of questions on GICs.
People stayed away from that, it was only .05% rate of return or something like that.
So it wasn't very common for sure.
But since it is more popular, we do like to share this one because of the fact that people often think that if you go to a branch as an example, TD Canada trust, you can buy GICs there but they are only TD GIC product, you're still getting an okay rate of return. If you want to shop around and see what other GICs were available and what other issuers are available, that is something you can find on my broker. There is a really good list and you can buy them directly in the platform there. They are listed all the time and updated quite frequently slowed safe we jump in, we jump into a broker and I'll show you where that is.
Often times is under research which is where you are going to get this information initially.
You go to the GIC Rate Sheet right here.
That's when you take you to the page that has all the different rates which makes sense, right?
But initially it starts out with all GICs.
It will show you short-term, you can see a lot of these TD GICs, they are really short term like 30 to 60, 16 and 90 and so on and you can see other rates available.
If you scroll down you can go by the tabs to and quickly exclude all this other stuff. If you scroll down on the first plate, you will start to see that there is a number of different issuers which is awesome. We have equitable trust, we have Laurentian Bank, we have home bank.
You are still doing this within your TD Direct Investing You're able to buy these because we are a brokerage so all of these are available for you to purchase.
If you want to find the highest rate, if you're looking at equitable trust, Laurentian, home bank, you can scroll through and see which ones might be higher than others. You also want to keep in consideration the timeframe, do you want one year, two years? Depending on what's going on in the marketplace, there have been times or even the longer-term ones are even lower which is a situation like we are seeing right now and that is often times related to whether interest rates are going to come down.
You can scroll down and go to the four or five years, you are going to see these rates. These different columns mean different things. You are going to normally see, depending on how you want the GIC, you wanted to be compounded annually if it's more than one year. It will show you the annual rate, you want it paid out semiannually, there's a number of different choices.
But whichever one you want to select you can just click on and purchase that amount. Click on the dollar amount and place the order. Go to preview order before you place this. It used to be you could only call in but we added that on is another upgrade into a broker to say, let's make this very easy so clients can buy whatever GIC they like. You have to do it within a certain number of hours, the market hours. Outside of that, you could not do that.
But as long as you are within market hours you can purchase GICs really easily on my broker.
>> Great tool therefore the viewer.
Another question here.
This is a timely one. They want to know where they can go to access their tax information on what broker?
>> Yes, yes!
That is a timely one, for sure. We are getting very close to where you are going to have to file your taxes by the end of April and often times if you just started investing, especially in a taxable account, that's one of the biggest situations.
You want to go to a tax advisor as well.
These accounts are self-directed. Finding those forms can be tricky at first. We will show you where you can find that.
There is also a tax information Centre that has a ton of frequently asked questions and things are related to direct investing what you would do from a tax perspective.
Meanwhile, let's show you where we can jump into what broker and see where those documents are.
My account is a demo account once again.
If I was in my own account there would be a bit more showing but if I go to the top right-hand side, notice that you have your, this is similar to what I showed earlier, I have my name here, if I click on this it will take me to one of those self-service things, customize site.
That's where I said you could customize the time out of your account, you can change, you can rename your accounts and things like that.
It's up in the same area. If you click on your name on the top right-hand side and get this menu, you go to documents and e-services. You've done that before if you look for your statements. You've probably seen this but maybe you've been ignoring it because of the fact that it wasn't tax time. If you go here, there's your tax documents. Anything to be sent to the CRA for example, for example documents relating to capital gains or losses.
There is investment income summary that you may have received on GICs or bonds, things like that, and is also a trading summary to which will show you all of your buys and sells, any money you made from those, and he losses from those and will also show you the documents as well.
So anything you really need to do your taxes aside from you might need TurboTax for an advisor to help you with it, that's not included in here but if you are looking for those forms that you can use to file the taxes, then we have those available for you there.
>> I'm the person in my family gathers all the forms for everybody so, yeah, they can add up but that's a great place to start.
We are going to get back to your questions for Bryan Rogers on how to get part of the WebBroker platform and just moments time.
As always, make sure you do your own research before making any investment decisions.
and a reminder that you get in touch with us in any time.
Do you have a question about investing or what's driving the markets?
Our guests are eager to hear what's on your mind, so send us your questions.
There are two ways you can get in touch with us.
You can send us an email anytime at moneytalklive@td.com or you can use the question box right below the screen here on WebBroker. Just write in your question and hit send.
We'll see if one of our guests can get you the answer right here at MoneyTalk Live.
If you keep your eye on American economic data, you know they have low unemployment, strong GDP growth, declining inflation and solid wage gains but despite that, many Americans are still feeling less optimistic than all of that with the death.
Anthony Okolie is now taking a look at a new TD Economics reported claiming some of the reasons for this disconnect. What's going on out there?
>> According to official data, the US economy is performing extremely well. It's actually outperforming many of its it G7 nation peers.
One factor is the US consumer.
Since central banks began hiking rates in 2022, the US consumer spending has outpaced all of its peers, as the next chart shows. More recent data shows that per capita spending across most other advanced economies is already weakening under the weight of higher interest rates.
In the US, he continues to expand at a pretty healthy clip.
Despite this, measures of consumer sentiment have been notably lower than what's such strong economic data would normally merit.
So what gives? TD Economics highlight several reasons that fall into three broad categories.
One, inflation, interest rates, and consumers internalization of external noneconomic factors, a.k.a. referred pain.
We will start with inflation.
While the rate of inflation may have cold, prices are still pretty elevated in the US. Steep price jumps particularly for the things that people buy, things like groceries for example, and research has shown, according to TD Economics, that consumers are heavily influenced by prices of frequently bought items. Even though real wages and incomes are now on the rise again, consumers purchasing power has not regained all the ground lost during the inflation surge as this next chart shows.
Another factor that TD Economics points to you is interest rates, particularly the fact that the current CPI basket does not account for interest expenses. Now, at this next chart shows, CPI is likely understating the pain that consumers feel as rising interest rates make it more expensive to make major purchases on credit, things like buying a home or buying a car for example. With consumers feeling a high rate of inflation CPI data, this might be dampening sentiment.
Finally, another thesis to explain this unusually low consumer sentiment is what is known as the referred pain hypothesis.
This suggests that consumers gloomy mood is due to noneconomic concerns, things like increasing political distress, rising cultural distrust and general dissatisfaction with government institutions.
This has left many Americans feeling weighed down under a general sense of pessimism, and that has disconnected from the health and economic data we are seeing today.
>> A lot of factors that play there. What about the outlook for the US economy, how does it compare to the G7? We know what the data tells us.
>> While consumer spending has defied the downbeat mood reported on G7 surveys, it may be a matter of time before spending catches. While TD Economics expects growth to gear down this year, the US is still expected to lead the rest of the G7 countries in real GDP growth this year with a forecast of 1.6% economic growth by the end of this year on a Q4 for Q4 basis.
>> Fascinating stuff, definitely something to keep an eye on. Thanks for that.
>> My pleasure.
>> MoneyTalk's Anthony Okolie.
Now, let's take a look at the markets.
We are having a look at TD's Advanced Dashboard, a platform designed for active traders available through TD Direct Investing.
We are looking at the TSX 60, sorting by price and volume.
The telecom stock BCE is down about 4%, Rogers is down just shy of 3%. Sentiment on the street has not been great towards the telecom names as of late, we see it reflected in our share prices. We have the price of American benchmark crude, but 85 bucks per barrel today. What is OPEC going to get up to in the next meeting? Some energy names are up modestly but it's not enough to push back against the drown draft on those heavyweights and the financial space, we are not seeing a big draw down there but there's model agreeing on the screen so it's not adding to the topline number.
The S&P 500 had its best first quarter in years. The second quarter has not been as successful. Some names like AMD to the downside, Tesla moving on its own news apart from economic conditions, the deliveries for the first quarter disappointing the streets.
We are back now with Bryan Rogers from TD Direct Investing. Let's squeeze in another question before we say goodbye.
Someone wants to know where they would go if they wanted to learn more about charting or technical analysis on the platform?
>> I hope I can do that one quickly because there is so much information there, but at least to get started I can point people in the right direction.
If we jump into WebBroker, if you are interested in technical analysis, for those that might not know what this is, if we are explaining this as fundamental analysis, you are looking at numbers related to the stock, you can look at reports and financial information, but technical is more around the trend with the stock itself. If we are in WebBroker, we go to research. Often times we are starting with research. We go to the bottom one, under technicals, this is an area where outside of looking at the specific stock, you can do the same thing, look up Apple, under the technical tab, gives you the same kind of information. If you want to know about technicals in general, this listing is from, I go down to the bottom, it is called trading central.
We can see all kinds of technical charts on most recently viewed, most food bowlers, etc.
This is an avenue within WebBroker where we can start to find little ideas. It's almost a screen where you can see ideas based on technical analysis that they are providing for us. From a learning perspective, what Greg was talking about was you have future ideas which you can click on. If you are brand-new, novice, good education. Click on the little education And now there's tons of great information where it will show an introduction say what this is all about, there's technical analysis, you can go into what are the different patterns that you might find to be looking for. You can click on all these and he will give you more information on each one. It will show you an example and some trading considerations.
One of my favourite thousand example I believe it's under the oscillators, Bollinger Bands.
I really like the description. It's easy to implement as you can use Bollinger Bands and it tells you how to use it or trading considerations. Remember, it's not a crystal ball. It's all going to be accurate 100% of the time.
You can learn about this and how you would use it and then you can test it out and apply it on some charts within WebBroker or Advanced Dashboard. It's a good way to get started on learning about technical analysis.
>> That's a technicals. What about web broker users wanting to learn more about investing in general?
>> That's a great question.
It's near and dear to my heart because I am on our education team. We do classes all the time, master classes and things like that.
In WebBroker at the top, we try to make it as intuitive as possible, you have a learn tab, you have master classes available, that's more like a live coaching session in a way where multiple people sign in and they can ask questions during a Q&A or tab. Webinars are fairly similar, they are usually live with professionals or people we have as influencers or things like that within the financial industry.
For live events, you can ask questions in the last little bit. There is videos in the learning tab. You can search up here.
If I search margin or order entry, it's gonna give you a number of hits that are going to show you what's available in terms of videos or classes or webinars coming up.
One thing I would highlight is if you want to filter, this is a really good point to be aware of, these are upcoming events that you can't filter these, they are ones that are coming up in the near future so definitely explore that.
But if we go to past events and we want to filter by topic, let's say if you're looking for managing taxes, that's a popular one for retirement staff and tax webinars and things like that, I apply the filters in a way to get a number of upcoming events that are related to retirement. There is Nicole, you see her quite often on MoneyTalk.
All kinds of different things to explore, endless amounts of information that you can find if you are looking to learn more about investing.
>> Always great to have you on, especially for a full program.
>> Alright, thanks so much.
>> Our thanks to Bryan Rogers, Senior client education instructor with TD Direct Investing. As always, make sure you do your own research before making any investment decisions. if we can get your questions today, we will try to get into future shows. Stay tuned for tomorrow show. Robert Both, Senior macro strategist at TD Securities will be our guest and he wants to give us a preview of next week's BOC rate decision and we will let him do it. He will also take your questions about the economy and interest rates. Get those in ahead of time, just email moneytalklive@td.com. That's all the time we have for the show today. Thanks for watching. See you tomorrow.
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