Alberta wildfire could cost insurers as much as C$9 billion - BMO

TORONTO (Reuters) - A wildfire in the Alberta city of Fort McMurray could cost insurers as much as C$9 billion, making it by far the costliest ever Canadian natural disaster, according to research by Bank of Montreal Capital Markets.

BMO Capital Markets analyst Tom MacKinnon said that figure was a worst-case scenario based on a comparison to a wildfire in Slave Lake, Alberta in 2011. The bill for insurers was C$700 million in that fire, and the Fort McMurray fire is bigger and the properties more valuable.

"Since Fort McMurray is nearly 10 times the size of Slave Lake, a disaster of the same magnitude impacting nearly all of Fort McMurray could potentially lead to C$9 billion in insured industry losses," MacKinnon said in a research note.

MacKinnon said a "more reasonable estimate" might be for total industry losses of between C$2.6 billion and C$4.7 billion, still by far the largest potential catastrophe loss in Canadian history.

The Slave Lake fire was previously Canada's biggest insurance loss from wildfire. The costliest natural disasters were the C$1.9 billion in losses from the North American ice storm of 1998 and the Alberta floods of 2013.

The Fort McMurray fire, now in its fifth day on Thursday, has grown to five times its initial size and prompted the full evacuation of the area's 88,000 residents.

The uncontrolled blaze has so far destroyed 1,600 buildings compared with 374 in the Slave Lake Fire, with another 19,000 potentially under threat.

(Reporting by Matt Scuffham; Editing by Cynthia Osterman)

Fort McMurray wildfire remains out of control after city evacuated.

60,000 flee as wildfire leaps highway and into city

A huge wildfire in Fort McMurray, Alta., destroyed an entire neighbourhood and burned homes and businesses in several others Tuesday, and continues to rage out of control.

By late afternoon, the entire city of 60,000 had been ordered evacuated. Residents by the thousands fled the fire and for hours caused gridlock on Highway 63, even overwhelming oilsands work camps, where beds and meals were offered. Police were patrolling the highway with cans of gas, after fuel supplies ran out in Fort McMurray, Wandering River and Grasslands.

Fire chief Darby Allen said the entire neighbourhood of Beacon Hill "appears to have been lost" and the fire burned many homes in other parts of the city.

No buildings were lost in the city's downtown area, Allen said. Despite the devastation, there were no reports of deaths or serious injuries. 

As of 10:30 p.m. MT, officials reported the neighbourhoods of Abasand, Wood Buffalo, Dickensfield, and Waterways saw only some damage.

No estimates were available on the number of homes and businesses that were destroyed.

Witnesses reported the Flying-J gas station exploded, while the Super 8 Motel and a Denny's restaurant were gutted. 

Officials said about 17,000 residents escaped the city to the north, while another 35,000 drove south, at least half that number headed for Edmonton, 430 kilometres away.

Gas stations were emptied of fuel along the way leaving many motorists stranded on the highway. 

Fire officials said they expect Wednesday could be just as bad, with the wind expected to pick up and the hot, dry weather to continue.

Allen called Tuesday "a devastating day," and said fire crews were simply overwhelmed by the speed and power of the wildfire.

"Everybody has given everything today to do the very best they could," Allen said. "I can categorically state that everything that was absolutely possible to protect the community was done."

Conditions changed quickly

Conditions on the ground changed quickly as the day progressed.

Allen said firefighters were "a little worried" earlier in the day, but with the 30 C heat and dry conditions, once the wind came up the fire became an inferno.

"It's been the worst day of my career," Allen said earlier. "It's a nasty, ugly fire and it hasn't shown any forgiveness."

By 6:30 p.m., the entire city was under a mandatory evacuation order, making it the largest wildfire evacuation in the province's history, far surpassing the Slave Lake fire that made international headlines five years ago.

Courtesy:  http://www.cbc.ca

Tesla's Wild New Forecast Changes the Trajectory of an Entire Industry

Elon Musk's plan is a really big deal, and not just for electric cars.

 

Tesla just took the most ambitious automotive production timeline since the Ford Model T and moved it up two years.

 

The company now plans to produce 500,000 electric cars every year starting in 2018. That's 10 times the number of vehicles it produced in 2015, and enough to ensure that all 400,000 customers who put down a $1,000 deposit on the forthcoming Model 3 will qualify for a significant U.S. subsidy.

Talk about doubling down—even the original 2020 goal was considered a long shot by Wall Street. This new target would pledge the carmaker to a faster production growth rate than Ford Motor Co. managed in the early 1900s. That's when Henry Ford pioneered the production line with the Model T, the first mass-market combustion-driven car.

 

A century later, Tesla Chief Executive Officer Elon Musk wants the Model 3 to be its electric grandchild. He's now aiming for close to a million sales by 2020.

 

"My desk is at the end of the production line," Musk said in an earnings conference call on Wednesday. "The whole team is super-focused."

 

Musk's enthusiasm aside, skeptics say his planned ramp-up is unattainable in the modern era. If Tesla can succeed—and even Musk admits that it's a tough goal—it would be a tectonic shift for the global electric-vehicle market, just like the Model T was for the combustion engine.

 

"It would reshape the entire global car industry," said Bloomberg New Energy Finance analyst Salim Morsy. "But a lot of things have to go right, and they have to go right on the extremes."  

 

BNEF tracked 234,000 electric car sales worldwide last year, of which Tesla made up a fifth of the market, Morsy said. For Tesla to stay on its new track, it would need to produce more cars next year than the entire global electric-car industry made in 2015.  

 

Tesla's first mass-produced car, the $35,000 Model 3, will need to come to market on schedule, and with great momentum, in late 2017. Telsa's battery factory in Nevada must flourish, costs must come down, and car-making capacity must scale up at an astonishing rate.

 

For context: Tesla has never managed to hit one of Musk's timelines for a new product launch. Not once.  

 

But if Tesla can do it this time, U.S. buyers already waiting in line will benefit from a federal tax break currently valued at $7,500. That subsidy will drop by half shortly after the company reaches 200,000 sales in the U.S., which would take place in 2018, assuming a 50 percent compound annual growth rate. The more cars Tesla can sell that year, the more buyers will benefit from the subsidy.

 

Earlier this year, I made some predictions about how quickly electric automobiles could begin to supplant gasoline-powered cars and upend oil markets. One method I used was based on Musk's 2020 timeline, which would deliver enough electric vehicles to disrupt fossil fuel use by as early as 2022. If you believe Tesla can reach its new goal, that timeline just moved up.

 

Courtesy: http://www.bloomberg.com/news/articles/2016-05-04/tesla-s-wild-new-forecast-changes-the-trajectory-of-an-entire-industry

CME, ICE prepare pricing data that could boost bitcoin

CHICAGO (Reuters) - CME Group Inc and rival Intercontinental Exchange Inc plan to publish new pricing data on bitcoin that they say will increase the credibility and transparency for the controversial digital currency.


Starting in the fourth quarter, the CME aims to begin publishing bitcoin prices about once a second during trading days and a daily settlement price based on transactions from several bitcoin spot exchanges, the company said on Monday.


The owner of the Chicago Mercantile Exchange and other futures markets said the data will add "significant credibility to the nascent digital asset market."


ICE, which owns the New York Stock Exchange, will soon launch a real-time pricing index for bitcoin, after it began publishing settlement prices in May 2015, said Dwijen Gandhi, head of indexes for the NYSE, in a statement.


The real-time data will "provide additional transparency and insight into the bitcoin price," he said.


The NYSE also is evaluating the inclusion of data from a number of exchanges for its settlement price, which was initially based only on transaction data from U.S. market Coinbase, Gandhi said.


Bitcoin is a Web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.


The availability of pricing data from major exchange operators could attract more traders to the bitcoin market and promote the development of derivatives contracts, said Gil Luria, a managing director for Wedbush Securities.


"The more active exchanges like CME or ICE become, the easier, the more liquid it will become for traditional investors" to trade bitcoin, Luria said.


The CME declined to say whether it wants to launch bitcoin futures. ICE did not respond to a question on the matter.


CME is planning to publish its settlement price at 4 p.m. London time (1500 GMT), the same time that the NYSE publishes its settlement price.


The beginnings of bitcoin have been a riddle since the publication of the open-source software behind the currency in 2008, before its launch a year later.


Earlier on Monday, Australian tech entrepreneur Craig Wright identified himself as the creator of bitcoin but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now.

Courtesy: https://ca.finance.yahoo.com/news/cme-group-publish-daily-bitcoin-settlement-price-162622759--finance.html

Canadian investment pros share their strategies with author, 28

Robin Speziale picked up the investing bug from a stock-picking exercise in high school, despite the fact his choice in the competition, the now-departed Forzani Group, barely budged.

He bought his first stock at 18 and now, at 28, has an evolving portfolio of 25-40 holdings worth about $250,000.

“I’m not super intelligent. I didn’t get the best grades in school,” the Toronto resident said in an interview. “I just kept at it. I’ve read about 100 books (on investing).”

Now he’s written one, Market Masters (ECW Press, $22.95), a series of interviews with some of Canada’s top investment managers.

Not many names will ring a bell with the average Canadian, but people like Francis Chou, Kiki Delaney, Jason Donville and Benj Gallander have a long history of above-average returns.

Speziale, who works in financial services but not as an investment manager, approached about 50 industry professionals in his quest to get them to share some of their investing acumen with do-it-yourselfers. He didn’t want stock tips from them, but insight into their methodology.

“I’d read a lot of books, but I couldn’t find a Canadian one that covered all the investment styles and distilled them,” he said.

After letters, emails and phone calls, Speziale finally got 25 to agree to face-to-face interviews. Three others did it by phone.

There is only one Quebec name: Charles Marleau of Palos Management. “I wanted to meet more people from Quebec, but I wasn’t aware of everyone there. For the follow-up, I’d like to meet more,” he said.


“People I did talk to kept mentioning to me how a lot of the best stocks in the Toronto Stock Exchange were companies from Quebec.”


Each manager has a distinct set of insights, anecdotes and dos and don’ts. No two use exactly the same approach.


Bargain-hunter Gallander mentions how he’ll average down only once on a falling stock, and counsels “avoid the noise, because there’s more noise now in the market because of the internet.”


Barry Schwartz describes the Toronto Stock Exchange as “a stupid index, a terrible index … too small and poorly diversified.”


Chou mentions that he’s a voracious reader, of biographies and newspapers as well as trade publications, because “nothing is irrelevant. Investing is not done in isolation.”


Even the pros have had their share of flops.


Speziale’s worst call was Lundin Mining, which plummeted 85 per cent after he bought it. The lessons learned there? “As a do-it-yourself investor, you can’t be passive. And no more resource stocks.”


He said one of reasons he enjoys stock-market investing is that it’s both challenging and fun.


“It’ll help you in life. You learn a lot about yourself. You learn to control your emotions. It’s liberating to be financially literate and able to take control of your finances and build a portfolio. Even if you don’t want to (manage investments) yourself, you’ll be able to take the advice you’re getting from your banker or adviser with a grain of salt.”


But he concedes it’s not something that seems to interest most twentysomething Canadians.


“Some of them still don’t know what a TFSA is. I still get asked ‘how do I open an (investment) account?’ It’s a bit of a step from there to the material in my book.”

Courtesy: http://montrealgazette.com/business/canadian-investment-pros-share-their-strategies-with-author-28?__lsa=a19e-1fbc

CMHC says many major housing markets showing signs of overvaluation

Canada's national housing agency says nine of Canada's 15 largest housing markets are showing signs of being overvalued.

The Canada Mortgage and Housing Corporation said in its quarterly Housing Market Assessment Wednesday that a majority of Canada's large housing markets are showing either "moderate" or "strong" evidence of being overvalued.

The housing agency looks at housing markets to gauge their health based on four factors: ■overheating — when demand is significantly and persistently outpacing supply ■overvalued — when prices are higher than they should be based on economic fundamentals ■accelerating — when house prices are increasing faster than household costs of living are ■overbuilding — when supply of new homes significantly outpaces demand.

The agency rates each market on a colour coded scale where green means there is little evidence of that factor, yellow means there is moderate evidence of it and red means there is strong evidence of it.

On the overvaluation front, the CMHC says there is moderate or strong evidence of that happening in Vancouver, Edmonton, Calgary, Saskatoon, Regina, Hamilton, Toronto, Montreal and Quebec City.

Four of those cities — Toronto, Quebec City, Vancouver and Saskatoon — now show "strong" signs of overvaluation.

The first two were singled out in the agency's last report on housing in January. But the latter two were only recently given their red warning on overvaluation.

In Vancouver's case, the housing agency said "Single-detached home prices are now observed to be at levels higher than those consistent with financial, economic and demographic fundamentals."

But the problem in Saskatoon, meanwhile, is tied to recent downward revisions to the area's population, which makes it harder to justify. House prices in the greater Saskatoon area declined 2.7 per cent in March, data from the Canadian Real Estate Association showed.

Across the country, Canada's housing market set a record last month both in terms of prices — now up to $508,567, on average — and the volume of sales, CREA said.

Aside from overvaluation in pockets, the CMHC's assessment sees little cause for concern nationally. "Overheating and acceleration in house prices are not a concern at this time," the CMHC said.

(Courtsey: image: Google Images, Article: http://www.cbc.ca/news/business/cmhc-housing-vancouver-toronto-prices-1.3555680)

Toronto-based Transpod built a Hyperloop prototype that aims to be the 5th mode of transportation

Since Elon Musk put forward the concept of a 5th mode of transportation — known as the hyperloop — to the public, teams from all over the world have been trying to make this a reality.

From MIT engineers to smaller student engineering teams, the global effort shows that anyone is fair game to create a transportation method that could have a profound effect on our ideas of transportation.

Toronto-based Transpod, a startup dedicated entirely to creating a hyperloop, is one of these startups that are leading the charge. Transpod currently has a half-scale prototype, and intends to present a full-scale concept at the InnoTrans Rail Show in Berlin. Sebastien Gendron, the founder and CEO of Transpod, describes the company’s ambitious timeline: Transpod plans to work for two years with industry partners before moving on to governments and municipalities, including entities like Transport Canada, to have approval to build a line between 2020-2025.

With at notable experience working in the transportation industry under his belt — he’s held positions like flight operations manager at Airbus and project manager at Bombardier Aerospace — his confidence in the possibility of the hyperloop isn’t surprising.

While he isn’t specifically looking to build in Canada first, he is interested in building a line between Toronto and Montreal if he were to build here.

Gendron argues that building the Hyperloop isn’t as futuristic of a concept as people think it is, because the system is just a hybrid between an aircraft and a train.

“It’s really the way we put it together which can make it work. So a tube in a low pressure environment which can allow the vehicle to move in frictionless environment, that’s one of the items needed to reach those speeds, and all of the technical components of that mode of transport already exist,” he said. “Like the cabin, the cabin will have to be pressurized like an aircraft. So all the systems are existing today, it’s just a matter of putting them in a different vehicle.”

Transpod has an academic collaboration with the University of Toronto’s Institute of for Multidisciplinary Design and Innovation, as well as a corporate partnership with REC Canada. He iterates that the biggest challenge is not simply building the thing — it’s selling the benefits of the hyperloop to people who aren’t familiar with its long-term benefits.

“Even today, people are looking for innovative transportation systems. So I expect those needs to help us overcome those challenges,” he said, adding that it also should prove to have economic benefits for governments that are keen on creating jobs. “What we would like people to understand is that tomorrow if you’re capable of connecting two huge cities together that are 30 minutes away from each other, it’s a huge economic advantage to shrink distance and time.”

The infrastructure industry in the past has been dominated by major transportation organizations that have the resources to undertake such large-scale projects. The hyperloop, with an almost sci-fi feeling to it, presents an opportunity for agile startups to change the way we think about transportation.

“It’s so different that regular players like Bombardier and Boeing won’t take the risk to start doing it so there’s room for a startup company to work on that,” said Gendron. “I took the challenge and decided to do it.”

This article was originally published on our sister site BetaKit (http://mobilesyrup.com/2016/04/28/toronto-based-transpod-built-a-hyperloop-prototype-that-aims-to-be-the-5th-mode-of-transportation/)

GOOD NEWS: multi-billion dollar deal of BOMBARDIER INC.

Bombardier Inc. is reported to be on the verge of announcing a big order for its CSeries passengers jets with large U.S. carrier Delta Air Lines Inc.

The Globe and Mail says Bombardier will announce Thursday it has won a multi-billion dollar deal with Delta.

Multiple reports have suggested that Delta could purchase up to 125 CSeries aircraft. ■Bombardier nearing sale for up to 125 CSeries aircraft to Delta Air Lines: report ■Air Baltic expands CSeries order to 20 jets, Bombardier says ■Swiss Air to put 1st CSeries jet into commercial operation by 3rd quarter ■Federal help for Bombardier pitched by premiers Couillard and Wynne

"This order might well mean the difference between life and death for the [CSeries] program," said Richard Aboulafia, vice-president of analysis at Teal Group Corp., an aerospace and defence consulting firm in Fairfax, Va.

"If signed, it establishes the CSeries as a viable and competitive third player in the single aisle market. It would also give them the kind of production numbers needed to be competitive against Airbus and Boeing,"

Reuters reported earlier this week that Delta would be the first major American airline to buy the CSeries aircraft.

"You could certainly see other U.S. carriers look more closely at the CSeries," Aboulafia said. "If fuel gets expensive again, fleet optimization becomes more appealing."

Bombardier has booked orders and commitments for 678 CSeries aircraft, which includes firm orders for 250.

The CSeries is a new narrow-body, medium-range plane that comes in two variations, the CS100 and the larger CS300. The development program has seen several delays, though, which is believed to have deterred buyers.

The company, which has been strapped for cash, has asked the federal government for $1 billion US to help sell the CSeries, a request Ottawa has been studying carefully since it was first made late last year.

Bombardier said Tuesday it will report its results for the quarter ended March 31 on Thursday, one day earlier than scheduled.

Shares of Bombardier added two cents on Wednesday to close at $2.01 on the TSX.

with files from The Canadian Press and Reuters(http://www.cbc.ca/news/business/bombardier-delta-1.3555945)

VW to offer to buy back nearly 500,000 U.S. diesel cars - sources

By David Shepardson WASHINGTON (Reuters) - Volkswagen AG and U.S. officials have reached a framework deal under which the automaker would offer to buy back almost 500,000 diesel cars that used sophisticated software to evade U.S. emission rules, two people briefed on the matter said on Wednesday.

The German automaker is expected to tell a federal judge in San Francisco Thursday that it has agreed to offer to buy back up to 500,000 2.0-liter diesel vehicles sold in the United States that exceeded legally allowable emission levels, the people said.

That would include versions of the Jetta sedan, the Golf compact and the Audi A3 sold since 2009. The buyback offer does not apply to the bigger, 80,000 3.0-liter diesel vehicles also found to have exceeded U.S. pollution limits, including Audi and Porsche SUV models, the people said.

U.S.-listed shares of Volkswagen rose nearly 6 percent to $30.95 following the news.
VW in September admitted cheating on emissions tests for 11 million vehicles worldwide since 2009, damaging the automaker's global image.
As part of the settlement with U.S. authorities including the Environmental Protection Agency, Volkswagen has also agreed to a compensation fund for owners, a third person briefed on the terms said.
The compensation fund is expected to represent more than $1 billion on top of the cost of buying back the vehicles, but it is not clear how much each owner might receive, the person said.
Volkswagen may also offer to repair polluting diesel vehicles if U.S. regulators approve the proposed fix, the sources said. A VW spokeswoman, the EPA and the Justice Department declined to comment Wednesday.
VW will pay cash compensation to owners who either sell their vehicles back or get them fixed, one of the people briefed on the matter said. Owners selling back their vehicles will get an additional cash payment on top of receiving the estimated value of the vehicles from before the emissions scandal became public in September 2015.
Owners are expected to have around two years to decide whether to sell back vehicles or get them repaired. It is not clear whether VW will be allowed to resell vehicles they buy back, the source said.
The framework deal with U.S. officials was reached after lengthy talks in recent days at the Washington law office of Robert Mueller. The former FBI director is the court appointed mediator named to help settle more than 500 civil suits filed against VW. The talks, which continued over the week, included all the government agencies and lead plaintiffs attorneys suing GM.
Some elements of the settlement are still being worked out and details are not expected to be announced Thursday at a court hearing, the people briefed on the matter said. The final deal could still change before it is officially announced, they said.
U.S. District Judge Charles Breyer in March gave VW until Thursday "to announce a concrete proposal for getting the polluting vehicles off the road."
Breyer said in March the "proposal may include a vehicle buy-back plan or a fix approved by the relevant regulators that allows the cars to remain on the road with certain modifications."
A final settlement is also expected to include an environmental remediation fund to address excess pollution emitted by the U.S. vehicles since 2009.
It is not clear if the deal will resolve the U.S. Justice Department's civil suit filed in January against VW or if VW will agree to pay a civil penalty. VW also faces ongoing criminal investigations by the Justice Department and other prosecutors around the world.
Separately, Germany's Die Welt newspaper reported Wednesday that the deal to settle the case would involve it paying each affected customer $5,000. But a person briefed on the matter told Reuters that no decisions on how individual compensation will be awarded have been made. In December, VW said it was creating an independent claims program for owners of vehicles with excess emissions.
It named compensation expert Ken Feinberg, who administered funds for the Sept. 11, 2001 attacks, BP Plc Deepwater Horizon oil spill and General Motors Co ignition switch crashes, to create and administer the program.
cOURTESY: yAHOO fINANCE (Reporting by David Shepardson; Editing by David Gregorio and Andrew Hay)

OIL is zooming..good or bad news coming for canada????????

Toronto: Oil prices are gaining momentum with recent news of strikes of Kuwaiti oil field worker. We should be more cautious about catching this momentum by Canadian Loonie. As every one knows that because of lower loonie cost, canada manage to gain lot of lost manufacturing conracts, which were bound to go to Mexico.

Now, as oil prices going marginally up, and expected to remain close to $ 60.00, canadian government should be cautious and not to take it as a win of canadian loonie and starting ramp up new projects and increase government debt.

It is actually two sided sword.

If loonie gain against US dollar we can manage keep our cost of imported grocery down, and inflation under control. But if we loose our trade because of that than we might loose some of the business we are getting from USA. This will ultimately leads us to lower job rate and higher unemployment rate, as well as lower tax collection. Brent Crude $ 44.03 at 4/19/2016.

OIL is zooming..good news coming for canada

Infosys hits record high, up 8% post Q4: Will rally last?

Shares of Infosys are flying off the shelves after it surprised the street with its March quarter results on Friday. Infosys rallied over 8 percent touching record high of Rs 1267.90 per share on Monday.

The IT software major’s profit grew by 3.8 percent to Rs 3597 crore in January-March quarter compared to Rs 3,465 crore in preceding quarter despite fall in other income. Rupee revenue increased 4.1 percent sequentially to 16,550 crore from Rs 13,411 crore in same period. Dollar revenue in Q4 rose 1.6 percent to USD 2,446 million and 1.9 percent in constant currency compared to preceding quarter.

So, will the rally and appetite for infosys last?

Credit Suisse feels the stock may touch Rs 1450 per share stating it will remain a solid defensive stock for the time being. The brokerage firm has an outperform rating on the stock. It is impressed that Infosys' FY17 guidance is encouraging. Infosys guided to 11.5-13.5 percent revenue growth in constant currency for FY17. However, it adds that there are some minor downward model revisions due to lower yields assumed on the cash balance.

CLSA has increased its target price to Rs 1350 a piece. But the firm has downgraded the stock to outperform from buy as it sees challenges for further acceleration of the company till client mining can be broad based.

It adds that while Infosys has clearly been able to increase growth dramatically over the past year, its margin looks softer than a year ago while there is limited incremental traction on capital allocation beyond FY15’s dividend increase. Margin cuts along with a likely lower interest yield and higher taxes have also lead to drive minor cuts to its FY17/18 earnings.

"Infosys’ shares appear to have come full circle the last year from a ‘show-me’ stock post Q4FY15 to industry leadership beginning to be priced in at an 18.5x 1-year forward PE," it says in a note.

Meanwhile, Deutsche Bank has retained hold rating with a target price of Rs 1200 per share. It cautions that Infosys' guidance is healthy but does not suggest meaningful acceleration while pricing declines limit the upside to guidance and margins. Deutsche Bank will keenly watch for any improvement in the large deal total contract value and pricing trajectory, before changing view.

At 10:58 hrs Infosys was quoting at Rs 1,248.15, up Rs 76.10, or 6.49 percent on the BSE. Follow @ NasrinzStory
Courtesy: Moneycontrol.com Read more at: http://www.moneycontrol.com/news/stocks-views/infosys-hits-record-high8-post-q4-will-rally-last_6294461.html?utm_source=ref_article