After the close with Allan
Call it profit-taking after the December rally and/or a rare analyst downgrade of Apple, but red overflowed on trading screens throughout the first session of 2024. Apple closed -3.58% and Intel -4.88% along with many of its peers. Cruise liners […]
Markets ended the week mixed with the TSX adding 0.14% while the S&P closed -0.24%, the Nasdaq -0.46% and the Dow -0.07%. However, Friday capped a strong year that saw the American market rebound, led by tech. Over 2023, the […]
The S&P and Dow made intraday, 52-week highs, but fell short of establishing new closing highs. Amid typically light volumes, both indices closed flat while the Dow added 0.13%. Trading the most hands again was Tesla which sank 3%, while […]
The TSX reopened after the Christmas break on Wednesday to set a 52-week midday high of 21,091 and closed near that, up 0.65%. All sectors were green, led by consumer staples, energy and financials. Key winners included CNQ up 1.62%, […]
With the TSX closed on Boxing Day, American markets continued to rally on Tuesday, despite traditionally low volumes. The S&P advanced 0.53% to close less than 1% of its all-time high of 4,796. The Nasdaq added 0.63% to surpass 15,000 […]
The last trading session before Christmas saw Santa arrive with a rally, even though indices closed off the day’s highs. Mr. Klaus presented the U.S. with tame PCE (personal consumption) inflation data from November which helped to extend Thursday’s gains. […]
Fears of a second-straight day of losses faded during the Thursday session which saw a consistent rebound to recover most of the losses of the previous day. The TSX regained 0.79% as all sectors rallied, led by consumer staples, industrials […]
Wednesday’s session tried to extend the record-breaking rally, but indices in Toronto and New York faded into the close. The S&P and Nasdaq sank around 1.5% with the Dow doing only slightly better. This despite the U.S. 10-year yield edging […]
The TSX and the major American indices hit fresh 52-week highs in a broad rally. The TSC rose 1.04% with every sector gaining except tech. Major movers included Cenovus up 2.37%, TD 1.95%, Canfor soaring 12.34%, Interfor 11.8% and West […]
The trading week began with Nippon Steel announcing it will buy U.S. Steel which sent shares of the latter soaring 26.09% and lifting peers such as Cleveland-Cliffs up 9.68%. In Canada, Algoma surged 5.05%. The news helped lift the major […]
It was a good week for Bay and Wall streets as all the major indices gained, despite a mixed Friday. The key event this past week was the U.S. Fed not only holding rates as expected, but considering interest rate […]
A day after U.S. Fed Chair Jay Powell raised the idea of cutting interest rates in 2024, markets in New York and Toronto extended broad gains on Thursday. Though tech took a back seat and markets closed below their morning […]
Widely expected and much-anticipated, the U.S. Fed announced on Wednesday that it will hold interest rates again, reflecting easing inflation. However, the street was surprised when Fed Chair Jerome Powell signaled that the American central bank will pivot in 2024 […]
As the U.S. Fed began its two-day meeting on Tuesday, American stocks rose higher, with the S&P advancing 0.43% to a 52-week high of 4,643. The Nasdaq added 0.651%, the Dow 0.47%, and the U.S. 10-year yield hovered around 4.2%. […]
The trading week began on a quiet note with the TSX shedding 24 points and the American indices modestly gaining ahead of the U.S. Fed meeting starting tomorrow. Sectors were mixed on Bay Street with financials and industrials leading gains, […]
Friday saw the release of the latest U.S. jobs numbers. The Goldilocks report stated that job hiring moderated, annual wage growth fell below 4%, employment gains topped Wall Street’s estimate, while unemployment fell from 3.7% to 3.9% (the street expected […]
Thursday saw Alphabet unveil its long-awaited AI model, Gemini, which sent shares (of both classes) surging well over 5%. It also pushed the Nasdaq 1.37% higher, while the S&P added 0.8% and the Dow 0.18%. The AI momentum lifted Meta […]
As expected Wednesday, the Bank of Canada held the key interest rate at 5.0% for the third straight meeting. Beaten-down bond proxies, including real estate stocks and utilities popped, such as Boralex by 3.04%, but the TSX itself closed -0.5%. […]
Tuesday looked a lot like Monday as stocks were mixed, yields weakened and cryptos continued to rally. The TSX closed -0.17% as sectors were mixed. Staples and tech enjoyed strong gains which nearly match losses in materials and energy. Among […]
Stocks lost momentum on Monday, led by tech, giving back some ground after reaching recent highs, particular on Wall Street. On Monday, the S&P closed -0.54% higher, the Nasdaq -0.84% and the Dow -0.11%. Though the U.S. 10-year yield held […]
December began on a positive note with markets in Toronto and New York rallying into the close. The TSX rose 1% on Friday and 1.8% for the week as all sectors went green. Real estate, industrials and utilities led gains. […]
November ended on a generally positive note as most of the major indices gained for the day and all for the month. Thursday’s session began with a flurry of headlines. In Canada, GDP unexpectedly shrunk 1.1% in Q3, while two […]
As the investing world mourned the loss of investing legend, Charlie Munger, stocks on Wall Street ticked down modestly even as the U.S. 10-year yield declined to 4.263% after U.S. GDP in Q3 was revised up from 4.9% to 5.2%. […]
Tuesday began with the Bank of Scotia kicking off earnings season for Canadian banks. BNS‘ quarter disappointed as loan-loss provisions were heavier than expected, and its shares tumbled 4.45%. Financials and staples were the worst performers in Toronto, but gains […]
As shoppers hunted for bargains online and in stores, markets returned to business, though trading was quiet. The TSX shed 0.3% though remained above 20,000 while the Nasdaq and S&P both closed a handful of points down and the Dow […]
