Everything You Need to Know on Thursday: Rosenberg Research Warns of Recession Threat if Bank of Canada Delays Interest Rate Cuts

Good morning mooers! Here are things you need to know about today's market:

● S&P/TSX 60 Index Standard Futures are trading at 1,338.70, up 0.15%

● Rosenberg Research warns of recession threat if Bank of Canada delays interest rate cuts

● Lightspeed reappoints founder Dax Dasilva as CEO, reports Q4 revenue up 25%

● Canada Goose stock rises on earnings beat. It navigated a 'difficult environment.'

Today, the Canadian dollar is trading at 73.38 cents at US dollar, a slight decrease from Wednesday.

S&P/TSX 60 Index Standard Futures are trading at 1,338.70, up 0.15% from previous close.

In a conversation with Larysa Harapyn from the Financial Post, Dylan Smith, the vice-president and senior economist at Rosenberg Research, discusses the necessity for the Bank of Canada to begin reducing interest rates. He suggests that a timely intervention by the central bank with rate cuts could help Canada steer clear of a technical recession. However, he expresses a pessimistic view on the country's economic future if the bank maintains stringent policies for an extended period.

Earlier in the year, Dasilva had stepped in as the temporary CEO, taking over from JP Chauvet.

Chauvet, who initially came on board at Lightspeed as the chief revenue officer in October 2012, had succeeded Dasilva as CEO in February 2022, at which point Dasilva transitioned to the role of executive chairman.

This leadership change coincides with the financial update from the payment technology firm based in Montreal, which reports its financials in U.S. dollars. The company disclosed a quarterly loss of $32.5 million, or 21 cents per share, for the period ending March 31. This figure marks an improvement from the previous year's loss of $74.5 million, or 49 cents per share, for the same quarter.

Canada Goose Holdings stock was climbing Thursday after the maker of expensive winter coats posted fiscal fourth-quarter earnings that beat Wall Street expectations.

Canada Goose reported adjusted earnings of 19 cents a Canadian share on revenue of C$358 million. Analysts surveyed by FactSet were expecting the Toronto-based company to post earnings of 6 cents a share on revenue of C$316.4 million.

"During the period, we increased revenue and gross profit, underpinned by positive comparable sales growth, and expanded our adjusted EBIT margin, while navigating a difficult environment," said Chief Executive Dani Reiss said in a press release.

Canada Goose expects total revenue to grow in the low-single-digits year over year in fiscal 2025, up from the C$1.33 billion reported in fiscal 2024.

The company added that it implemented a workforce reduction in March that impacted about 17% of its corporate headcount. This followed a 10% workforce reduction of its corporate headcount in August 2023. The job cuts are expected to result in about $25 million of annualized cost savings, Canada Goose said.

Shares of Canada Goose were rising 14% in premarket trading Thursday to $13.01. Coming into the session, the stock has declined 3.6% this year.