Megatech spooks markets

On Hallowe’en Wednesday, markets sank on earnings from two of the biggest stocks in the world, Microsoft and Meta, which reported the day before. Though the companies reported strong top and bottom lines, both announced higher spending in AI, which […]

Markets fade amid megatech earnings

The major indices lost ground Wednesday as the biggest tech stocks continued reporting. Alphabet reported a beat and rallied 2.82%. However, Super Micro Computer‘s accounting firm quit and shares tanked nearly 33%. Elsewhere Garmin soared 23.25% and AMD closed -10.62% […]

Yields and stocks climb, oil falls

Stocks in Toronto and New York inched higher, even as yields rose. The TSX added 0.35% as most sectors rallied, particularly staples and financials. Major movers included Algoma Steel jumping 7.48%, Energy Fuels 5.14%, Telus 1.91% on an upgrade, while […]

Amazon leads bounce

Allan Tong Posted On November 1, 2024

Stocks recovered some of Thursday’s losses after Amazon reported a robust quarter and forecast. The tech giant rallied 6.1% and helped lift the Nasdaq by 0.69%, though the index shed 1.5% for the week. Meanwhile, the S&P advanced 0.35% on Friday, but was -1.35% for the week, while the Dow rose 0.63% and -0.15% for the week. On Bay Street, the TSX advanced 0.45% but came in -0.85% for the week.

The good news overshadowed a weak jobs report from the U.S., due in part to two major hurricanes this fall. Other major movers on Wall Street: Intel 7.37%, Nvidia 1.81%, Charter Communications 11.75%, and Super Micro Computer -10% to cap a brutal week. Meanwhile, the U.S. 10-year yield jumped to 4.369% while Bitcoin slipped 1.1% to US$69,200. Next week, Fed chair Jay Powell is widely expected to cut the key lending rate by 25 basis points. In Toronto, Air Canada soared 13.99%, MDA 10.38%, Fairfax Financial 9.12%, Baytex 4.07% and Energy Fuels -7.49%. Gold continued its record run by adding US$9 to US$2,734 while WTI climbed 0.3% to US$69.50.

📦 Amazon.com, Inc. (AMZN-Q) +6.1%

💾 Intel (INTC-Q) +7.37%

💾 NVIDIA Corporation (NVDA-Q) +1.81%

📡 Charter Communications (CHTR-Q) +11.75%

💾 Super Micro Computer (SMCI-Q) -10%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.1%

🛫 Air Canada (AC-T) +13.99%

🛢 Baytex Energy Corp (BTE-T) +4.07%

⛏ Energy Fuels Inc. (EFR-T) -7.49%

🧬 MDA Ltd. (MDA-T) +10.38%

🏛 Fairfax Financial (FFH-T) +9.12%