Canadian inflation came in stronger than expected in January as signs point to price pressures continuing to slowly build. While monthly data can be volatile, the trend in recent months has been upward, with the price strength reflecting an economy that emerged from a stellar performance in 2017 and continues to grow above its potential.

That is adding pressure on the Bank of Canada — which has kept the expansion going with low interest rates — to keep hiking borrowing costs to more normal levels. “You wouldn’t know it from the headline number, but Canadian inflationary pressures are heating up,” said Royce Mendes, an economist at CIBC World Markets. ] Want the latest recommendations from Zacks Investment Research,

Today, you can download 7 Best Stocks for the Next 30 Days. On Thursday, the energy sector proved to be a source of strength for the market. Leading the sector was strength from Halcon Resources Corp (NYSE: HK) and Bill Barrett Corporation (NYSE: BBG). ] Want the latest recommendations from Zacks Investment Research,

Today, you can download 7 Best Stocks for the Next 30 Days. ] These companies also reported insider buying last week: Cidara Therapeutics Inc. (NASDAQ: CDTX), Ducommun Inc. (NYSE: DCO), HealthEquity Inc. (NASDAQ: HQY), Panhandle Oil and Gas Inc. (NYSE: PHX) and PolarityTE Inc. (NASDAQ: COOL). ] Energy sector was the top gainer in the US market on Friday. Top gainers in the sector included Superior Energy Services, Inc. (NYSE: SPN), Panhandle Oil and Gas Inc. (NYSE: PHX), and SM Energy Co (NYSE: SM). ] Among the year-end numbers, there isn’t that much that pops out as extraordinary.

4.06 billion it had to charge for the termination of the merger with Baker Hughes (NYSE:BHI). So when looking at the company’s year-end results, do keep in mind that those are heavily skewed by one-time items that probably won’t have much of a material impact on the business in the coming year. Looking at operational income, we see that international markets held up rather well throughout the year, while the North American market suffered.

Since the moment it was announced, we’ve been highly bullish on the complicated-but-intriguing deal that would combine the oilfield services unit of General Electric Co. (NYSE: GE) and all of sector rival Baker Hughes Inc. (NYSE: BHI). ] The Oil and gas business represents a significant part of GE’s operations.

12.1 billion, 14.5% of GE’s total revenues for that period. In one of my previous articles about GE, I suggested that GE’s decision to combine its oil and gas business with one of the world’s leading oilfield services companies Baker Hughes (NYSE:BHI)is a smart move. 52.37 per barrel in the same period. As such, the U.S.

According to Baker Hughes, the average U.S. December 2016 increased by 54 from the prior month to 634 rigs. This development will benefit GE in the current quarter and much more after the merger with Baker Hughes. ] The failure of Russia and others to fulfill their obligations are coming at a time when U.S. Shale producers such as Pioneer Natural Resources (NYSE:PXD) and Devon Energy (NYSE:DVN) have already released growth-focused budgets to capture the benefits of an improving oil market.

2.8 billion this year to operate 18 drilling rigs in the Permian Basin and restart its drilling program in the Eagle Ford. Those rigs should enable the company to drill enough wells to grow its production by 15% to 18% over last year’s average. 2.3 billion on drilling this year, which should fuel 13% to 17% oil production growth by the fourth quarter versus last year’s final quarter. U.S. producers hit their peak more than a year ago with production steadily coming down since then due to under-investment.

However, the industry has recently started ramping activity back up in an attempt to push back against the natural production decline. For example, leading U.S. Devon Energy (NYSE:DVN) reduced its rig count from 40 in early 2015 to five by the third quarter of 2016. As a result, Devon Energy’s third-quarter production from retained assets declined 6.9% year over year. 50 per barrel and it expected to end 2016 running 10 rigs, with plans to run 15 to 20 by the end of this year. These rigs should push its production up by a low- to mid-single-digitrate this year. ] The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Devon Energy Corp. 45.16. Volume was about 30 million compared to the daily average volume of roughly 5 million. ] Devon Energy Corp. 50.69. No consensus price target was available.