After the close with Allan
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 […]
North American markets closed the trading week on a strong rally. Two catalysts came south of the border as the U.S. unemployment rate rose to 3.7% from 3.4% in April, even though the payroll number jumped. At the same time, […]
Weaker than expected PMI inflation data in Canada and the first of two votes passing the debt ceiling bill in Washington put markets in a positive mood Thursday. Markets started flat to begin the session but rose throughout the day. […]
Wednesday saw the release of Canadian GDP in Q1 rise 3.1%, beating Ottawa’s own projection of 2.5%. The stronger than expected number fueled speculation that the Bank of Canada will resume hiking interest rates and pressured the TSX down by […]
Wall Street returned from holidays to post gains in tech as the AI craze continues, though reacted mildly after Washington proposed an end to the debt ceiling crisis. The Nasdaq rose 0.32% past 13,000 though was trading higher earlier on […]
It was a quiet start to the trading week on Bay Street, though all sectors except for consumer staples and discretionary gained to lift the TSX 0.35% higher, though fell short of regaining 20,000. The big banks, which sold off […]
The week ended with stocks rallying across the board, resulting in gains for the week on American markets, but weren’t enough to save the Canadian one. Nvidia’s blockbuster report continued to fuel the boom in semis and tech stocks. AMD […]
Thursday markets were rocked by Nvidia soaring after reporting a blockbuster quarter that beat everyone’s expectations. When the dust settled, Nvidia had rocketed 24.69%, and lifted other AI-related stocks such as Adobe by 7.19% and AMD by 11.19%. However, Intel […]
On Wednesday, the first bank reports dragged down the TSX, which closed more than 1% lower and fell below 20,000. BMO reported a serious miss and sank 3.91%. Financials as well as materials and industrials led most sectors down with […]
