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Call it a delayed reaction to the U.S. Fed cutting interest rates by 50 basis points the day before. On Thursday, markets in New York and Toronto soared to new highs. All but the Nasdaq made records. The Nasdaq leapt […]
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After the close with Allan
On Wednesday afternoon, the U.S. Fed’s Jerome Powell cut interest rates by 50 basis points, signalling the end of its inflation fight. The street had been split between 25 and 50 points. Markets initially rallied, but faded into the close. […]
Tuesday saw August’s inflation rate in Canada fall to 2.0%, hitting the Bank of Canada’s target and signaling that interest rates will fall further. This news comes on the eve of the U.S. Fed’s decision on American rates, widely expected […]
The TSC continued its hitting streak to start the week by rallying 0.62% or 145 points to 23,714. Most sectors gained, led by healthcare, tech and energy. WTI crude jumped 2.6% to return above US$70 a barrel as gold added […]
Friday the 13th was lucky for the TSX which hit another new high after rising 0.4% on the strength of all but three sectors. Real estate and materials led while staples were modestly weak. Major movers: CNQ -2.03%, B2Gold 2.62%, […]
Green lit up trading boards on Thursday, especially in Canada as the TSX rose 1.12% or about 260 points to close at a new high of 23,470. Shining brightest were mining stocks: B2gold 12.9%, First Majestic Silver 11.97%, Calibre Mining […]
The latest CPI number in the U.S. came in slightly lower than expected at 2.5% year over year instead of 2.6%. In August, prices climbed 0.2% over the previous month as predicted. Markets greeted the news by buying: the Nasdaq […]
The U.S. 10-year yield fell to a 52-week low of 3.644% by Tuesday’s close, reflecting overwhelming sentiment that the U.S. Fed will cut interest rates shortly, perhaps by 50 basis points. That said, the rotation into value stocks wasn’t reflected […]
The bulls returned to start the week by driving a broad-based rally in New York and Toronto. The TSX jumped nearly 245 points or over 1% past 23,000. Except for energy, all sectors rallied, led by healthcare, financials and tech. […]
Weaker-than-expected job numbers on both sides of the border pressured markets in Toronto and New York on Friday. It’s the latest weak economic data that continues to fuel popular sentiment that the U.S. Fed will cut rates later this month […]
Thursday saw little direction in markets on both sides of the border, though Toronto and New York finished the session modestly weak. The TSX closed -0.23% as sectors were mixed. Staples enjoyed modest gains but were outweighed by losses in […]
To little surprise, the Bank of Canada cut interest rates Wednesday yet again, taking the prime rate down by 25 basis points to 4.25% and signalling further cuts. The TSX initially popped Wednesday morning on the news, then became choppy […]
Markets were flat or lagging for much of Friday until they surged in the dying minutes. Rewind to the morning when Canadian GDP in Q2 came in at 2.1%, as expected, while the U.S. CPE (personal consumption expenditure) number for […]
Nvidia beat late Wednesday in the most-anticipated earnings report of the year, but it wasn’t enough for investors who sold shares down by 6.38% on Thursday. While the S&P was flat and the Nasdaq slipped 0.23%, the Dow closed 0.59% […]
There was broad-based selling in Toronto and New York ahead of tech giant, Nvidia, reporting its quarter after the Wednesday session. The TSX sank 0.56% as CNQ closed -0.91% as the most-traded name, Kinaxis -14.54% and Ivanhoe Mines -5.58%. However, […]
Tuesday saw little direction in markets with the S&P and Nasdaq climbing by 0.15% and the Dow barely moving, while the TSX surrendered 0.33%, largely from weakness in energy. Once more, Nvidia saw the most action, this time adding 1.5% […]
Monday saw a split market as the TSX and Dow made record close, but the Nasdaq and S&P sank. The Canadian index added 0.27% to 23,348 as energy led and health care lagged. Major movers on Bay Street: CNQ 2.48%, […]
After days of recent gains, stocks in New York and Toronto gave back Thursday. Tech led the selling with the Nasdaq closing -1.78% to fall below 17,600, Nvidia -3.64%, Tesla -5.75% and Intel -6.17%. Elsewhere, Moderna finished at -6.53% and […]
No dramatic moves, but markets in Toronto and New York continued to rise Wednesday. The TSX added 0.33% as several mining names rallied, including Equinox Gold by 4.92% and Calibre Mining by 7.66%. Also, Northwest Healthcare REIT rose 6.49% while […]
Tuesday saw the release of Canada’s July inflation print coming down to 2.5%. That’s the lowest rate since March 2021 and paves the way for the Bank of Canada to further cut interest rates in September. Despite the news, the […]
The TSX flirted with all-time highs Monday as it rose 0.27% and closed comfortably above 23,000. Enbridge was the most-active name, adding 0.7%, while Richelieu Hardware finished the session -2.35%, ARC Resources -2.21%, Silvercrest Metals 5.56% and Canada Goose 4.76%. […]
The indices in New York and Toronto edged up on Friday to finish the week higher. The past week’s weaker-than-inflation numbers in the U.S drove the rally. The three New York indices gained over 0.2% on Friday. While the Nasdaq […]
American markets extended their winning streak to six days while the TSX returned to 23,000 on Thursday’s rally. The S&P jumped 1.61%, the Nasdaq 2.34% and the Dow 1.39%. The 10-year yield stayed right below 4% while Nvidia was the […]
Wednesday saw the release of July’s consumer inflation print in the U.S. which reflected the four-straight month of declines. The numbers were modestly lower than what the street expected, reinforcing the belief that the U.S. Fed will cut interest rates […]
Tuesday morning saw the latest U.S. producers’ inflation print come in lower than expected, which sparked a broad rally in New York. Both the Nasdaq and Dow jumped over 400 points or 2.31% and 1.03% respectively, while the S&P rose […]
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