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After the close with Allan
Tuesday saw typically light late-summer trading, but also typical August weakness as the major indices continued to fade. There were few dramatic moves, but the TSX surrendered 0.47% to stay well below 20,000. Materials were the only sector to show […]
The trading week began with typically low summer volumes, but tech rebounded as the Nasdaq rallied 1.56%. It was helped by Palo Alto Network whose shares soared 14.62% after topping estimates in its latest report (released last Friday afternoon). The […]
The trading week ended with markets in Toronto and New York flat, but down for the week, largely pressured fears of future interest rate hikes and concerns over weakness in China’s economy. The TSX added 0.13% but slipped 2.5% over […]
On Thursday, the U.S. 10-year yield continued to rise, touching 4.278% by the close, based on fears that the U.S. Fed will hike interest rates again. American markets sank across most sectors as the S&P finished -0.77%, the Nasdaq -1.17%, […]
Wednesday saw the release of the minutes taken at the U.S. Fed’s last meeting which showed that the American central bank is willing to keep raising rates to fight inflation. Their hawkish tone wasn’t entirely a surprise, but the news […]
Stocks on Tuesday sold across the board, triggered by downbeat economic news in Canada and China. The TSX sank nearly 2% to below 20,000 after the latest inflation read came in at 3.3% instead of the expected 3%. Bay Street […]
Monday markets lacked any true direction, except in steel. A bidding war erupted for U.S. Steel whose shares skyrocketed 36.8% as it rejected a big from Cleveland-Cliffs which itself jumped 8.78%. The spillover effect pushed Algoma Steel in Canada up […]
The week ended with the TSX rising 1.25%, including 0.32% on Friday. Most sectors were higher, led by materials, real estate and energy. In contrast, discretionary and utilities lagged. Energy names were the most popular stocks, with Enbridge gaining 0.84%, […]
Thursday morning saw markets pop on the latest U.S. inflation data which came in at 3.2% YOY in July, slightly lower than the expected 3.3%. American stocks in particular cooled down as the session headed into the close, but finished […]
Wednesday saw crude oil’s ongoing rally lift the TSX 0.34% higher, helped by a strong showing in consumer staples, industrials and utilities, while discretionary names lagged. WTI jumped another 1.6% way past $84 a barrel. Major movers in Toronto included […]
On Tuesday, Moody’s downgraded several U.S. banks which pressured American stocks. The S&P closed -0.42%, the Nasdaq -0.79%, and the Dow -0.45%. Key movers included Eli Lilly which soared 14.87% after reporting. Elsewhere, AMD finished -3.06%, Zoetis 4.77% and Micron […]
With Canadian markets closed for holidays, Wall Street rebounded on Monday to regain some of last week’s losses. The S&P closed 0.8% higher to return to 4,500, the Nasdaq 0.48% to nearly 14,000, and the Dow added 1.08%. Major movers […]
The TSX rebounded Friday to advance 0.57% for the session and reduce its losses for the week to 1.49%. Almost all sectors rallied, led by staples and utilities which fell the most in previous days. Tech was a rare weak […]
Stocks in Toronto and New York on Thursday extended losses, but finished the day paring back most of their losses. The TSX shed 0.48% to stay above 20,000. Few sectors besides energy were positive and most were down, led by […]
Wednesday markets sold off after Fitch Ratings downgraded its rating on U.S. debt from AAA to AA+. While the sell-off was sharp, it didn’t panic many investors were not surprised by the announcement. The S&P closed -1.31%, the Nasdaq -2.11% […]
Tuesday saw the major indices drift downwards to start August amid a flurry of earnings reports. The TSX closed -0.45% as only three sectors, led by energy, rallied, and the others sank, especially materials and utilities. Despite reporting a miss, […]
The trading week began with the TSX advancing 0.52%, led by materials and tech. Only four sectors lagged, notably telcos. Key movers were TC Energy, rebounding 4.44% from last week’s losses, Denison Mines up 4.08%, BlackBerry 6.85% and Laurentian Bank […]
The trading week ended on a positive note as rallies in energy and tech lifted markets in Toronto and New York. Crude oil continued its streak as WTI rose another 0.55% to touch $80 a barrel. Energy, materials and industrials […]
Stocks in Toronto and New York gave back recent gains Thursday, a day after an unsurprising U.S. Fed announcement about interest rates and amid some positive earnings. The TSX shed 0.83% but stayed above 20,000 as all sectors except healthcare […]
On Wednesday afternoon, the U.S. Fed raised interest rates by 25 basis points, which the market widely expected. Chair Jerome Powell’s comments didn’t move markets, which were flat overall. The Nasdaq surrendered 17 points, the S&P didn’t budge though the […]
Tuesday saw the TSX shed only 0.09% as sectors were mixed . Materials led, but financials and staples lagged. Banks gave back some recent gains, including Royal at -1.55% in the heaviest trading and Bank of Nova Scotia by -2.61%. […]
A busy trading week began positively with both crude oil and stocks rising. WTI jumped 2.4% to nearly $79 a barrel as energy led gains on the TSX. The Canadian exchange advanced 0.15% as real estate also rallied, but utilities […]
Canadian stocks lag American ones so far this year, but outperformed this past week. The TSX rose 0.5% Friday to nearly 20,500 and rallied 1.56% for the week, beating the major American indices except the Dow which climbed 2.11% over […]
Thursday saw general selling in markets as some stocks gave up gains after recently rallying. Earnings were a key driver, particularly in the U.S., as Tesla slid 9.74% and Netflix sank 8.41% after reporting disappointing quarters and forecasts. Tech lagged […]
U.S. earnings extended Wall Street’s winning streak as all three major indices made intraday 52-week highs. The S&P closed up 0.24%, the Nasdaq rose then settled to advance only 0.03%, while the Dow added 0.31% to reach 35,000. There was […]
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