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Conservative Lead Shrinks Among Young Canadians

The latest national survey from Abacus Data reveals a shifting political landscape among young Canadian voters aged 18 to 29. While the Conservative Party of Canada (CPC) maintains an overall lead in the polls, their advantage has narrowed significantly among this demographic.

According to the survey conducted from May 16 to 21, 2024, the Conservatives garnered 32% support among 18-29-year-olds, followed closely by the Liberal Party of Canada (LPC) at 28%. The New Democratic Party (NDP) captured 22% of the youth vote, with the Bloc Québécois (BQ), Green Party of Canada (GPC), and People’s Party of Canada (PPC) trailing at 6%, 5%, and 5% respectively.

You can read more on the matter here.

What’s going on?

• Canada Expands Gaza Visa Program Cap from 1,000 to 5,000 (theDeepDive)

• Taiwan Lawmakers Pass Bill to Curb President’s Powers (Bloomberg)

• Caitlyn Jenner’s Alleged Crypto Launch Sparks Accusations of AI and Hacking (theDeepDive)

• New Zealand tightens some home loan rules (Reuters)

• NexGen CEO: The Russian Uranium Ban “Introduces Pressure On The Already Fragile Supply Chain” (theDeepDive)

• Pope Francis issues rare apology over reported homophobic slur (Globe)

• Prince Edward Island: The First Province To Push Back Against Mass Immigration (theDeepDive)

• T-Mobile to Buy Most of U.S. Cellular in $4.4 Billion Deal, Including Debt (WSJ)

• Rafah Hit by Israeli Airstrike: Displaced Palestinians Among the Dead (theDeepDive)

What’s the latest?

• Apple in China: Apple's smartphone shipments in China surged 52% in April, boosted by significant discounts, despite strong competition from local brands like Huawei, which surpassed Apple as China's second-largest smartphone vendor in Q1.

• WeWork: Adam Neumann has withdrawn his bid to reacquire WeWork, criticizing the coworking company's bankruptcy emergence plan as "unrealistic." Earlier, Neumann's new venture, Flow Global, had offered over $500 million for WeWork and its assets. Despite efforts, Neumann claims the company's plan is unlikely to succeed. WeWork, once valued at $47 billion, did not comment on the matter. Neumann also accused WeWork of avoiding negotiations and using bankruptcy proceedings to finalize a deal with selected buyers.

• Memestocks: GameStop's stock surged nearly 20% in premarket trading after raising over $900 million from share sales during a market rally. Earlier this month, the stock increased nearly sixfold, partly due to the return of "Roaring Kitty" Keith Gill, a key figure from the 2021 trading frenzy. The company raised $933.4 million by selling 45 million shares.

• Miracle Drug: Novo Nordisk's obesity drug Wegovy reduced adverse kidney-related events by 22% in overweight and obese individuals, according to a new analysis from the Select study presented at the European Renal Congress. The study indicates that semaglutide, Wegovy's active ingredient, may significantly lower the risk of kidney complications, including chronic kidney disease and end-stage renal disease, particularly in those with cardiovascular disease and obesity, but without diabetes.

• US Housing: U.S. house price growth slowed significantly in March, with prices increasing just 0.1% compared to 1.2% in February, influenced by rising mortgage rates, according to the FHFA. Year-over-year, prices rose 6.7% in March, down from 7.1% in February. Despite a decline in existing home sales due to the average 30-year fixed-rate mortgage nearing 7%, low housing inventory continues to keep prices high. House prices increased 6.6% between Q1 2024 and Q1 2023, and rose 1.1% from Q4 2023. FHFA's Deputy Director Anju Vajja noted steady price growth over the past six quarters due to limited home inventory despite high mortgage rates.

Unpacking the impact of the Russian uranium ban on the market

The stock market and stuff

• Scotiabank Skips Regular Dividend Increase Amidst Weaker Q2 2024 Earnings (theDeepDive)

• Nasdaq rises to record above 17,000 as Nvidia shares jump (CNBC)

• Saudi Arabia to Raise $10 Billion to $20 Billion in Fresh Aramco Stock Sale (WSJ)

• GameStop shares jump 15% after $933 million stock sale (CNBC)

• Bitfarms Rejects US$950 Million Take-out Offer From Riot Platforms (theDeepDive)

In the juniors

• ATHA Energy Options Out 70% Of Vista Project For $10.7 Million In Total Consideration (theDeepDive)

• Collective Metals Intersects 513.7 Metres Of 2.20 g/t Gold Equivalent (theDeepDive)

• Sterling Metals Appoints Mining Exec Mark Goodman As Chairman (theDeepDive)

• Golden Cariboo Expands Exploration Program To Gold Ridge Claims (theDeepDive)

FULL DISCLOSURE: Power Nickel is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Power Nickel. The author has been compensated to cover Power Nickel on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.