After the close with Allan
Tuesday saw markets in Toronto and New York drift generally lower, lacking a galvanizing catalyst. The TSX stayed above 20,000 but closed -0.57%, dragged down by tech and industrials while telcos rallied. Big movers were WSP Global at -6.84% after […]
Stocks modestly declined Tuesday after recent gains. Investor sentiment was weighed by worry over the wider economy, coming a day after OPEC+ surprisingly slashed oil production to trigger inflationary fears and thoughts of a hawkish U.S. Fed. The price of […]
Q2 and the trading week began with a surprise announcement from OPEC that it will cut crude oil production, sending WTI gushing over 6% to $80.50 and leading the TSX 0.84% higher. On Bay Street, materials and banks also rallied […]
A slight decline in U.S. core inflation, based on February data released Friday encouraged a modest risk-on session that ended the day, week and quarter positively. Meanwhile, Ottawa approved the long-awaited Rogers-Shaw merger, which helped the TSX rally. Shaw gained […]
Thursday extended Wednesday’s gains on both sides of the border as the TSX rose 0.39% to nearly 20,000, lifted by almost every sector. Staples and utilities led gains while healthcare was slightly weak. Major movers were TC Energy at -2.38%, […]
A day after the Liberals unveiled their 2023 budget, the TSX rallied with all but two sectors up. Consumer staples, discretionary and real estate led the charge while materials lagged but only modestly. The TSX added 0.82% to approach 20,000. […]
Tuesday saw market lacking true direction with Canadian stocks rising slightly, up 0.2%, and the major American indices declining about that much though the Nasdaq shed 0.45%. WTI inched up by 0.85% past $73 a barrel while Bitcoin added 0.69% […]
The week began with First Citizens Bank announcing it was buying its failed competitor, Silicon Valley, which cooled recent fears and lifted stocks Monday. The TSX finished 0.56%, the S&P 0.26%, just shy of 4,000, the Nasdaq -0.37% though off […]
Stocks were down most of Friday until they rallied into the close to preserve gains for the week. Investors shrugged off ongoing bank concerns to raise the TSX by 0.21%, the S&P 0.56% to nearly 4,000, the Nasdaq 0.31%, and […]
Thursday markets were well into the green for much of the day before falling towards the end. They finished mix with the TSX shedding 0.37% as energy sank, though tech thrived. Major movers were Cenovus at -5.17%, ECN Capital -16.67%, […]
As expected Wednesday afternoon, the U.S. Federal Bank raised interest rates by 25 basis points, but chair Powell’s comments afterwards triggered a sell-off of American stocks. All the major indices sank by 1.6% by the close. Tesla changed the most […]
Tuesday saw the major indices in Toronto and New York convincingly rise as regulators and big banks in Europe and the U.S. rushed the rescue the failing banks and restore market confidence. In Canada, more good news came with February’s […]
Bank turmoil over Credit Suisse and First Republic dragged into Monday, but investors felt enough optimism to raise stocks overall and push gold to $2,000 an ounce for the first time in many months. Also, Bitcoin topped $28,000 over the […]
Friday capped a sleepless week for many on Bay and Wall streets as markets slid amid banking turmoil and doubts over upcoming central bank decisions. However, some sectors and indices actually gained for the week. On Friday, the S&P closed […]
There was no shortage of financial news Thursday, which began early morning when the the European Central Bank went ahead and raised its key lending rate by 50 basis points, despite the meltdown of troubled Credit Suisse and Euro inflation […]
Wednesday saw the latest failure in Credit Suisse roil world markets as the Swiss bank’s Arab backers turned off their taps of support. This decision spurred sharp selling across the globe, hitting North American markets already recovering from the Silicon […]
The post-SVB rout in stocks ended Tuesday morning after the latest U.S. inflation numbers came in meeting market expectations. Core inflation actually ticked up slightly higher than expected while non-core was slightly lower than expected. The numbers encouraged the bulls […]
Silicon Valley Bank’s sudden collapse last week extended into the new trading week as it unleashed more volatility across North American markets. Despite positive futures overnight, Monday morning saw markets drop before bouncing gradually upward throughout the day. The VIX […]
Friday capped a negative week after Silicon Valley Bank collapsed entirely, while better-than-expected employment numbers in Canada triggered a sharp sell-off in New York and Toronto. SVB’s shut down was the biggest bank failure since the 2008 recession. The S&P […]
Thursday markets began slightly in the green before toppling into the red, driven by fears that Friday’s U.S. employment numbers will be strong and therefore encourage the Federal Bank to hike interest rates further. The S&P closed -1.85% to stay […]
The Bank of Canada announced Wednesday that it will hold its lending rate at 4.5%. The TSX rose modestly on the news, finishing 0.35% higher. Tech and industrials led while financials were flat. Making outsized movers were ECN Capital soaring […]
The U.S. Fed’s Jerome Powell announced Tuesday that he was willing to hike interest rates longer and deeper if necessary to tame inflation. it was no surprise when Powell said that economic data would inform his decisions going forward, but […]
Stocks edged up or down moderately to start the trading weak, not establishing a firm direction, Inching up by a few points was the S&P to stay above 4,000, as did the Dow, while the Nasdaq dipped into the red […]
A choppy week that saw strong sell-offs ended with a convincing rally to push all the major averages in o the green for the week. The averages on Bay and Wall streets all gained around 1.5% for the week. Optimism […]
Thursday saw a bifurcated session with stocks dipping into the red in the first half before climbing into the green in the second even as yields rose. The U.S. 10-year inched up to 4.066% as the S&P closed 0.76%, the […]
