Daily

The week ended with the TSX edging up 0.12% on Friday but losing 0.74% during the week to stay below 20,000. Actually, more sectors were in the red than green with energy and materials rallying, but staples and industrials lagging. […]

Much higher than expected gains in U.S. employment sparked selling across the board on Thursday. Investors feared that these numbers will encourage the Fed to keep interest rates higher for longer. The S&P closed -0.82%, the Nasdaq -0.84% and the […]

Wall Street returned to business Wednesday. The major indices saw modest declines after the U.S. Fed released minutes of its last meeting in the mid-afternoon. Those minutes reflected the Fed unanimously agreeing to pause interest rates and to adopt a […]

With Wall Street closed for Independence Day, the TSX rose 0.21% to nearly 20,200 in light holiday trading. OPEC and Russia announced oil production cuts which helped lift the Canadian index. Naturally, energy was a leading sector as well as […]

With the TSX closed for the holidays and the NYSE closing early ahead of the fourth of July, American markets edged up on Monday in predictably quiet trading. The S&P gradually climbed 0.12% higher, the Nasdaq 0.21% and the Dow […]

Markets rallied across the board in Toronto and New York to end the first half of 2023 on strength. New data showing inflation declining in both countries are fueling sentiment. The TSX rose 1.3% Friday to return to 20,000 as […]

Thursday saw more gains on both sides of the border. The TSX added 0.48% to close within a hair of 20,000. The only negative sector was tech and even those losses were mild. Financials, energy and discretionary saw the most […]

Wednesday trading was mixed with Canadian stocks rising but American ones slipping modestly except tech. The TSX rose 0.38% but stayed below 20,000. Staples and tech led the Toronto rally while materials were among the three weak sectors. Notably, Baytex […]

Tuesday saw tech leading rallies in Toronto and New York. The TSX rose 0.85% as all sectors except two were positive. Discretionary, real estate and indistrials also rallied while staples modestly declined. Leaders included BlackBerry up 5.24%, Lightspeed 5.76%, TD […]

The TSX rallied nearly 1% Monday though stayed below 20,000. All sectors but tech rose, with consumer staples soaring and energy and financials showing strength. WTI oil regained 0.56% to nearly reclaim $70 a barrel, a day after near mutiny […]

On Thursday, higher than expected crude oil supplies pressured the price of WTI by 4.3% down to $69.50 a barrel. In turn, the TSX declined 0.66%. Only staples and industrials gained on Bay Street as energy and discretionary led the […]

The U.S. Fed’s Jerome Powell faced the Senate Wednesday and repeated his bearish sentiments from last week’s interest rate announcement. Though Powell said nothing new, but his tone and remarks remained bearish and reiterated more rate hikes this year. The […]

Wall Street reopened on Tuesday, but U.S. stocks sank, partially due to China’s government initiating weaker-than-expected measures to stimulate its economy. China’s post-Covid recovery has disappointed North American markets this year. On Tuesday, consumer discretionary was a rare bright spot […]

Wall Street was closed for an American holiday, leaving the TSX to shed 0.16% to remain below 20,000. Volumes on Bay Street were merely 20% of the average. Consumer staples were a rare bright spot as most sectors saw modest […]

Stocks faded as Friday wore on, but Bay and Wall streets advanced during the week. The TSX shed 0.26% for the day to return below 20,000 but still gained 0.57% for the week. Only four sectors were positive during the […]

A day after the U.S. Fed paused interest rates, but also issued a hawkish plan to later raise further and deeper, Wall Street rallied across the board. On Thursday, the S&P rose 1.22%, the Nasdaq 1.15%, and the Dow 1.26%. […]

U.S. stocks bounced between gains and losses after the U.S. Fed announced it would pause its interest rate hikes, but also signaled higher rates in the futures. The tone and statement confused many, and the major indices struggled to digest […]

Investors, especially on Wall Street, bid stocks higher on Tuesday, a day before the U.S. Fed announces its next interest rate decision. The S&P climbed 0.69%, the Nasdaq 0.83%, and the Dow 0.43%. Again, tech enjoyed the best gains as […]

Wall Street continued to feel optimistic that the U.S. Fed will halt rate hikes this week and pushed stocks higher. The S&P climbed 0.93% to 4,338, its highest level since April 2022, as tech pushed the Nasdaq 1.53% higher, and […]

The week ended differently on Wall and Bay streets. The TSX shed 0.77% for the week including 0.25% on Friday as most sectors were in the red, namely staples and industrials. Tech was a rare gainer as Shopify rallied 3.42%. […]

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 […]