After the close with Allan
Following a sharp rally, Thursday’s markets pulled back after the latest U.S. economic data was released. From June to July, PMI manufacturing data decreased while jobless claims rose and fell further that estimated. Though markets did not close on weakness, […]
July ended with a bang as the TSX surged 1.28% to close at a record high of 23,116, and tech roared back after recent weakness. Canadian stocks filled trading screens with green on Wednesday and the month of July with […]
AI tech stocks, which have led markets this year, continued to slide Tuesday ahead of key earnings. Nvidia sank 7.13% in very active trading as the Nasdaq fell 1.24%. After the closing bell, Microsoft reported and tumbled more than 6%. […]
It was a quiet day on Bay and Wall streets with neither market making dramatic moves at the height of summer. The TSX shed 35 points as WTI sank 1.65% to US$75.85 a barrel, and gold slipped US$45 to US$2,382. […]
Markets in New York and Toronto rallied Friday but finished the week in the red or barely positive. On Friday, the S&P rose 1.12%, the Nasdaq 0.99% and the Dow 1.65%. However for the week those numbers were -0.83%, -2% […]
Following a sharp tech-led sell-off, Thursday’s session ended with the Dow advancing 0.38% to return to 40,000, but the S&P closed -0.32% and the Nasdaq -0.77%. Earnings were in the headlines with ServiceNow soaring 13.13%, but Ford tanking 18.14%. American […]
On Wednesday, U.S. markets tanked after heavyweights Alphabet and Tesla issued weak earnings. They closed -5.03% and -12.33% respectively as other Magnificent 7 names such as Meta finished -5.61% and Nvidia -6.8%. Among the few gainers was AT&T, rallying 5.22%. […]
Tuesday markets saw mild losses following days of dramatic moves. The TSX closed -0.18%, highlighted by weakness in energy as WTI declined 1.35% to US$77.35 a barrel. Royal Bank was the most active name at -0.85%. Other key movers: Baytex […]
After sliding last week, tech stocks rallied Monday, led by Nvidia which jumped 4.81%. ON Semiconductor rose 6.62% and Tesla 5.15%, but CrowdStrike sank 13.46%, even further than last Friday when the cybersecurity company caused the worst IT outage in […]
A faulty CrowdStrike software upgrade to Microsoft Windows unleashed havoc around the world Friday. It shut down banks, halted surgeries, paralyzed 911 emergency lines, knocked out financial companies, disrupted small businesses and governments alike, and cancelled over 4% of flights […]
Bay and Wall streets continued to sell off on Thursday to extend losses of the previous session. This time, though, the Dow ended its record-breaking winning streak and closed -1.29% while the S&P finished -0.78% and the Nasdaq -0.7%. The […]
The market rotation out of tech into rate-sensitive stocks accelerated Wednesday after reports were published that U.S. President Biden is considering a sweeping clampdown on U.S. companies exporting their chipmaking equipment to China. This triggered a sell-off of semi stocks […]
Canadian stocks extended their winning streak into Tuesday, driven by June’s inflation rate falling to 2.7% and fueling the chances of the Bank of Canada cutting interest rates next week. The dividend-heavy TSX rallied nearly across the board by 1.07% […]
With investors optimistic that interest rates will be cut in Canada and the U.S., the market rally continued to broaden beyond tech on Monday. The TSX and Dow closed at record highs to repeat last Friday’s feat. The Canadian index […]
The week ended with investors seeing green in Toronto as well as New York. The TSX made yet another record close after rising 0.67% Friday to 22,695. The Canadian index finished nearly 3% higher for the week. The most influential […]
It was a tale of two markets on Thursday. The TSX soared 193 points in a broad rally to reach a record high of 22,544. Leading the way were CNQ up 1.61%, TD 0.97%, Cenovus 1.23%, TC Energy 1.15% and […]
Wednesday saw the second day of U.S. Fed Chief Jay Powell facing Congress and again he hinted at making progress in the fight against inflation. His dovish sentiments pushed the S&P and Nasdaq to yet more record closes. Both indices […]
U.S. Fed Chief Jay Powell told Congress on Tuesday that keeping interest rates higher for longer could jeopardize economic growth. This signaled to markets that the Fed will cut rates at some point and helped lift the S&P to a […]
On Monday, the S&P and Nasdaq made yet more record closes despite weak volumes and modest gains. The S&P added five points and the Nasdaq 0.28% for the session, while the Dow actually shed 31 points. Big semi names, Nvidia […]
Friday saw the June U.S. unemployment rate rise to 4.1% which was lower than the expected 4.0% and fueled hopes that the Fed will cut interest rates. The data pushed the U.S. 10-year yield down to 4.27% but lifted the […]
Bay Street volumes were predictably light as the Wall Street celebrated the fourth of July, though the TSX inched 0.11% higher. Only financials showed any weakness and that was modest. Staples, telcos and utilities led all other sectors higher. There […]
U.S. markets closed early on Wednesday ahead of the July 4 holiday, but the latest employment data fueled the S&P and Nasdaq to fresh highs. Payroll growth came in lighter than expected for June as weekly jobless claims clocked in […]
On Tuesday, Wall Street extended its winning streak into the second half of the year after the S&P and Nasdaq made fresh highs. The S&P rallied 0.62% to breach 5,500 while the Nasdaq gained 0.84% to top 18,000. Meanwhile, the […]
With the TSX closed for the national holiday, Wall Street opened the second half of 2024 with a modest rally. The S&P advanced 0.28%, the Nasdaq 0.84% and the Dow 44 points. Again, tech led the charge higher as Tesla […]
The end of June means reports cards, and here is how the major indices performed in the first half of 2024: the TSX 4.5%, the S&P 14.5%, the Nasdaq 18% and the Dow nearly 4%. The biggest gains, of course […]
