After the close with Allan
For much of Monday, markets extended Friday’s rally as China reopened its borders after ceasing its strict Covid policy. Wall and Bay streets were hopeful that a rebound in China’s economy would lift North American stocks. There was green across […]
Friday saw American wages grow slightly slower than expected which unleashed a strong rally. That move ushered in a positive start to 2023. The Nasdaq jumped 2.56% during the session and 1.94% for the week, the S&P up 2.28% and […]
Thursday saw markets backtrack after the U.S. job numbers were stronger than expected, with many still employed. This made the street fear that the U.S. Fed will be hawkish when it next raises interest rates. The S&P finished -1.25%, the […]
On Wednesday, Salesforce announced it was cutting 10% of its workforce which propelled market sentiment and stocks upwards. Not only that, but the U.S. Fed released its December minutes expressing reticence of taking their foot off the interest rate pedal, […]
The first trading of 2023 began with a short-lived rally on Wall Street, but quickly sank. Meanwhile, the TSX managed to maintain its gains and closed up 0.32%. By far, energy was the only lagging sector, while Consumer staples, materials […]
Markets ended 2022 in the red on a shortened session. The S&P finished -1.19% or -0.23% for the week, the Nasdaq -1.27% and -0.7% respectively, and the Dow -1.01% and -0.95%. The Dow was -9% for the year and the […]
Markets on both sides of the border Thursday strongly rebounded in one of the strongest sessions of the month, recovering some losses of previous days. Tech led the rally with the Nasdaq jumping 2.79%, followed by the S&P up 1.85% […]
The TSX reopened for trading after Christmas, but the Grinch robbed Santa Claus of his rally. This is a rare year when stocks are not rising during the holiday reason. The many reasons include fears of a recession in 2023, […]
With the TSX closed in lieu of Christmas and Boxing Day, Wall Street reopened to typically light trading. Movement in either direction was muted, but the huge exception by far was Tesla, which plunged 11.41% as the heaviest-traded stock. Tesla […]
Friday saw a modest Santa Claus rally as all the major indices closed positive and gently rose during a low-volume session. Friday halted a losing streak this week. The S&P finished 0.57% on Friday and -0.23% for the week, the […]
On Thursday, U.S. jobless numbers remained at historic lows, triggering a sharp market sell-off across all sectors of the S&P as well as the TSX. American markets surrendered the gains of the session of the day before: the S&P -1.45%, […]
Wednesday saw American markets rally 1.5% across the board with all sectors positive after Nike and FedEx posting surprisingly good earnings and the latest U.S. consumer sentiment data impressed. Also, home sales and prices continued to fall, which will please […]
Tuesday saw oil, minerals and other commodities lift the TSX by 0.55%. Sectors were mixed, but energy, financials and materials rallied while consumer discretionary and staples lagged. Suncor was the most-traded stock, adding 1.6%. Barrick Gold jumped 4.16%, Cenovus 2.51%, […]
Hawkish comments by various central and regional banks in America and abroad fed market pessimism Monday. Investors were already processing comments by the U.S. Fed last week about hiking interest rates for longer. To start the week, the S&P closed […]
The Grinch hit markets this week, driven by hawkish U.S. Fed comments and lingering pessimism about a recession in the new year. The S&P closed Friday -1.12%, or -2.21% for the week, below 3,900, the Nasdaq -0.97% Friday and -2.81% […]
A day after the U.S. Fed raised American interest rates by 50 basis points and issued hawkish comments about the economy, markets continued to slide Thursday. The S&P closed -2.49% below 3,900, the Nasdaq -3.23% and the Dow -2.25%. There […]
On Thursday, U.S. Fed Chair Jerome Powell raised interest rates by 50 basis points, which was widely expected, but expressed slightly hawkish comments that the Fed still “has a ways to go.” The S&P closed -0.61% to fall below 4,000, […]
Lighter-than-expected U.S. inflation numbers propelled a strong rally early Tuesday, but those gains faded throughout the day. Nonetheless, the S&P still gained 0.73%, the Nasdaq 1.01%, and the Dow 0.3%. Meanwhile, crude oil rally as WTI popped 3% to $75. […]
The week began with the bulls dominating Wall Street and, to a lesser extent, Bay Street. Investors were buying ahead of Tuesday’s U.S. CPI data and the Wednesday U.S. Fed Bank hike, widely expected to be 50 basis points. Monday […]
Friday saw markets tumble to close a week of declines, driven by recessionary fears. On Wall Street, the S&P closed -0.73% for the day but -3.31% for the week, the Nasdaq -0.7% (day) and -3.31% (week), and the Dow -0.9% […]
Thursday saw Canadian and American markets snap their losing streaks as stocks rebounded. The S&P closed 0.57% higher, the Nasdaq 0.95% past 11,000, and the Dow 0.34%. Tech enjoyed a lift as Amazon rallied 2.03% and Nvidia 6.46%, though Alphabet […]
Despite a fall in crude oil prices, markets on both sides of the border stabilized after recent selling driven by recessionary fears. The TSX was basically flat on Wednesday when the Bank of Canada increased its key interest rate by […]
Tuesday played out like Monday’s session as more talk of a 2023 recession pushed stocks down across the board. American CEOs, particularly the major banks, predicted a recession of varying severity, which made an already-nervous market more anxious. All sectors […]
Monday saw recessionary fears sink markets. Meanwhile, OPEC+ announced it will maintain current oil output levels. Energy took a beating on Bay Street as the worst-performing sector. The TSX sank 1.25% and saw only utilities and telcos gain any ground. […]
The week ended on higher-than-expected employment numbers out of the U.S. which triggered a sell-off early Friday, but mostly recovered by the close. The S&P finished the session -0.12%, but advanced 1.66% for the week, the Nasdaq was -0.18%, but […]
