After the close with Allan
A few days before Hallowe’en, Meta/Facebook horrified Wall street with a poor quarter and weak guidance that announced more spending instead of less. By the end of Thursday, Meta had tanked 24.56% (that’s no typo). That dragged the Nasdaq down […]
On Tuesday disappointing quarters reported by Alphabet and Microsoft weighed on American markets while the Bank of Canada announced a lower-than-expected interest rate hike. As a result, American indices sank while the TSX gained over 1%. The BOC increased rates […]
Markets continued to rally on Tuesday as Wall Street waited for the big tech companies to report their earnings this week. The S&P climbed 1.56%, the Nasdaq jumped 2.2% well past 11,0000 while the Dow rose 1.05%. There was green […]
Monday saw Wall Street rally with Bay Street less so as markets enter the key reporting period of megatech names. The S&P added 1.19% to nearly 3,800, the Nasdaq 0.86% to almost 11,000, and the Dow 1.34%. Healthcare led the […]
On Friday, comments by San Francisco’s U.S. Federal Bank chair about slowing down interest rate hikes to avoid recession helped push stocks higher. Meanwhile, earnings continued to be better than expected. The S&P rose 2.37% for the session session and […]
Thursday saw the all-important U.S. 10-year yield continue to climb, touching 4.23%. Meanwhile, U.S. earnings kept rolling in, offering generally positive results. However, the indices gave back recent gains as the S&P closed -0.8%, the Nasdaq -0.61%, and the Dow […]
Despite some early upward movement and a pop in oil, stocks faded on Wednesday as yields climbed. Except for energy, all the sectors were down on Bay Street as the TSX retreated 0.68% following two days of convincing gains. Among […]
Good or better-than-expected earnings reports extended the rally Tuesday on Wall Street as well as Bay Street. The S&P saw all sectors higher starting with industrials and gained 1.16% past 3,700. Tech continued to rebound, pushing the Nasdaq up 0.9% […]
Monday saw markets strongly bounce back after Friday’s steep sell-off. Advancing were the S&P by 2.65%, the Nasdaq at 3.45%, and the Dow up 1.86% past 30,100. Megacap tech, which has been the worst-performing sector this year, led gains as […]
Friday’s losses more or less erased Thursday gains, which immediately followed the latest hot U.S. CPI numbers. The S&P closed the fRIDAY session at -2.37% and -1.77% for the week, the Nasdaq -3.08% for both Friday and basically for the […]
Thursday morning saw the release of the latest American consumer inflation numbers. To little surprise, they came in hot, hitting 40-year highs despite a decline in gas prices. The street now concludes that the U.S. Fed will continue to hike […]
Wednesday markets see-sawed by only modestly so, closing moderately down or flat. Markets lack direction ahead of Thursday morning’s crucial CPI inflation data from the U.S. On Wednesday morning, American PPI data (producers’ inflation) came in higher than expected. The […]
Tuesday saw choppy trading, particularly on Wall Street, ahead of Thursday’s morning latest consumer inflation data. The S&P closed -0.65%, the Nasdaq -1.1% below 10,500, and the Dow up 0.12% with about half of stocks trading higher. Tech was hit […]
With the TSX closed for Canadian Thanksgiving, American stocks continued to decline on Monday. Geopolitics were the catalysts. Washington issued fresh restrictions on China’s access to American semiconductors and related equipment. At the same time, Beijing is stepping up lockdowns […]
The week ended on another sell-off, but remained positive. The catalyst was the latest U.S. unemployment number coming in lower than expected. In turn, that means that the U.S. Fed will remain hawkish in raising interest rates in the near […]
It was another down day in the markets on Thursday, except for oil and cannabis stocks. The S&P closed -1.03%, the Nasdaq -0.68% and the Dow -1.15%. OPEC+’s decision to slash production by two millions barrels a day continued to […]
After two days of strong gains, markets gave back on Wednesday in a choppy session. When the smoke cleared, the S&P was -0.19%, the Nasdaq -0.25% and the Dow -0.14%. Meanwhile, OPEC+ went ahead with a production cut in crude […]
Tuesday saw markets extend Monday’s rally by rallying even higher. The Australian central bank surprised many by raising its rates lower than expected. Add to that August job openings declined the most in over two years. That news fulled bullish […]
The first trading day of October saw markets turn 180 from the previous week and rally strongly. The S&P jumped 2.59%, the Nasdaq 2.27% to 10,815 and the Dow 2.66% but stayed below 30,000. There was green across the board […]
The TSX almost gained on Friday, but closed flat on Friday as American indices continued to decline. Strength in real estate and materials and most sectors kept the Toronto index positive for the session, though consumer staples were weak. Many […]
A day after after a sharp rally, Thursday saw the bears return to sell those gains and then some. Declines were deeper in New York as the S&P closed -2.11%, the Nasdaq -2.84% and the Dow -1.54%. All 11 sectors […]
On Wednesday, the Bank of England stepped in to avert a crisis on its shores by buying UK government bonds. This follows the decision by their government to slash income taxes for the rich which stunned many investors there and […]
Tuesday morning saw stocks in the green, but they ended the day mixed. Tech regained some ground as the Nasdaq added 0.25%. However, the S&P slipped 0.21% with seven of 11 sectors in the red, and the Dow declined 0.42%. […]
Last week’s pessimism and fears of a recession continued Monday as oil continued to slide and stocks lost more ground. WTI crude sank 2.84% to $76.50 a barrel, which weighed down the S&P and Dow by more than 1%. Meanwhile, […]
Friday saw an ugly session that ended the week with all the major indices down and many stocks hitting 52-week lows. Investors continued to react to central banks hiking interest rates around the world, including the U.S. Fed whose announcement […]
