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After the close with Allan
On Thursday, the latest U.S. jobless claims figure came in higher than expected, the highest since October 2021. The news raised hopes that the Fed will pause interest rates, and it pushed American markets higher. The S&P rose 0.62%, just […]
On Wednesday morning, the Bank of Canada surprised Bay Street (but not Stockchase) by rising the key lending rate 25 basis points to 4.75%. The BOC was responding to recent data, including stubborn inflation. The TSX slipped 0.34%, though sectors […]
Tuesday saw markets recover some ground lost in the previous session, though gains were measured. The TSX returned to 20,000 as it rose 0.53% led by tech, real estate and financials. Industrials were one of the few sectors in the […]
The trading week began with stocks flat or edging down, despite Apple hitting fresh highs and OPEC suddenly cutting oil production. The TSX returned below 20,000 after it slipped 0.46% with tech being the only sector gaining on Monday. Consumer […]
North American markets closed the trading week on a strong rally. Two catalysts came south of the border as the U.S. unemployment rate rose to 3.7% from 3.4% in April, even though the payroll number jumped. At the same time, […]
Weaker than expected PMI inflation data in Canada and the first of two votes passing the debt ceiling bill in Washington put markets in a positive mood Thursday. Markets started flat to begin the session but rose throughout the day. […]
Wednesday saw the release of Canadian GDP in Q1 rise 3.1%, beating Ottawa’s own projection of 2.5%. The stronger than expected number fueled speculation that the Bank of Canada will resume hiking interest rates and pressured the TSX down by […]
Wall Street returned from holidays to post gains in tech as the AI craze continues, though reacted mildly after Washington proposed an end to the debt ceiling crisis. The Nasdaq rose 0.32% past 13,000 though was trading higher earlier on […]
It was a quiet start to the trading week on Bay Street, though all sectors except for consumer staples and discretionary gained to lift the TSX 0.35% higher, though fell short of regaining 20,000. The big banks, which sold off […]
The week ended with stocks rallying across the board, resulting in gains for the week on American markets, but weren’t enough to save the Canadian one. Nvidia’s blockbuster report continued to fuel the boom in semis and tech stocks. AMD […]
Thursday markets were rocked by Nvidia soaring after reporting a blockbuster quarter that beat everyone’s expectations. When the dust settled, Nvidia had rocketed 24.69%, and lifted other AI-related stocks such as Adobe by 7.19% and AMD by 11.19%. However, Intel […]
On Wednesday, the first bank reports dragged down the TSX, which closed more than 1% lower and fell below 20,000. BMO reported a serious miss and sank 3.91%. Financials as well as materials and industrials led most sectors down with […]
The TSX resumed trading this shortened week but closed down 1% as only two sectors–energy and healthcare–emerged positive. Consumer staples and industrials led the laggards. The most influential names were Manulife at -2.15%, Suncor 1.34%, CNQ 1.8% and Shopify -3.12%. […]
With the TSX closed Monday for Victoria Day, trading continued in New York, but it continues to be mixed. As Washington wrestles with the latest debt-ceiling crisis, tech stocks modestly rose to push the Nasdaq 0.5% higher, but he Dow […]
Markets closed on a mixed note, with bench marks being almost back to May 2022 levels. However, the U.S. federal yield curve is the most inverted since 40 years. Investors remain optimistic, but there are some worries of negative earning […]
Rent and mortgages led inflation higher, with April’s numbers coming in at 4.4% in Canada Home prices have rebounded as the spring market picks up. Grocery costs came in at 9.1% higher in April, which is a slight decline from […]
All indexes closed the day on a higher level. Most sectors are also showing green. However, the state of the consumer is deteriorating in many metrics. There is still inflation, particularly in Canada, but also in the U.S.. The covid […]
The stock markets in the US slipped as investors tread carefully about the forthcoming statement on the debt ceiling. North of the boarder, tensions escalated as Canada expulsed a Chinese diplomat on allegations they interfered with Canadian politics. Consumer price […]
A modest start to the trading week. The TSX is up 0.21% along with the S&P and NASDAQ both flat to positive. Investors are waiting for more clarity from the US regional banks and corporate earnings. The big focus is […]
Canadian employment numbers were much better than expected, coming in at 41,400 additional jobs in April. Other stories affecting the market include the U.S. Federal Reserve raising rates to more than 5%, a 16 year high to combat persistent inflation.
All eyes Wednesday were on the U.S. Fed. Markets were trending modestly higher until Fed chair Jerome Powell announced a 0.25% interest rate (surprising no one), but made comments that the market interpreted as higher-for-longer. Then again, others discerned hints […]
Worries over Wednesday’s U.S. Fed rate decision as well as ongoing anxiety over the American regional banks and fears of a recession pressured stocks on Wall Street. Both the Nasdaq and Dow closed -1.08%, and the S&P -1.16%, though off […]
Markets ticked down a few points to start the trading week without showing much direction either way. The TSX shed four points as sectors were mixed, more positive than negative, led by staples and industrials while energy lagged. Cargojet reported […]
WTI crude surged 2.6% on Friday to $76.70 as energy lifted markets higher to end the week. The TSX advanced 0.5%, though slipped 28 points for the week, as all sectors but three rallied. Materials was the weakest one. Notable […]
Stocks rallied across the board Thursday with controversial Meta leading the way. The tech giant reported a strong quarter, beating estimates, and soared 13.93% higher. That move helped to lift the indices: the S&P 1.96% past 4,100, the Nasdaq 2.43% […]
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