After the close with Allan
A day after the U.S. Fed chair, Jay Powell, hiked interest rates by 75 basis points and issued a hawkish outlook, markets extended selling throughout Thursday. It didn’t help that several other central banks around the world also hiked rates. […]
On Wednesday, markets were moderately positive until 2:00 pm EST when the U.S. Fed’s Jay Powell announced a 0.75% hike in interest rates and issued very hawkish comments about inflation, rates and the American economy. The hike was expected, but […]
Like FedEx last week, Ford issued a dour warning about inflation and a recession, which sent its shares tumbling by 12.32% and the markets in Toronto and New York skidding by 1%. The announcement on Tuesday came on the eve […]
After a negative start, stocks on Monday climbed into the positive and closed moderately up by roughly 0.7% on Wall Street and 0.91% in Toronto. The dramatic falls of last week were missing as investors on both sides of the […]
Late-Thursday, FedEx reversed its earlier optimistic forecast and issued a brutal pre-earnings statement that predicts a global recession. On Friday, FedEx shares tanked by 21.32% and dragged down markets. The S&P finished Friday at -0.7%, the Nasdaq -1.6% and the […]
After Tuesday’s rout and hot U.S. consumer inflation numbers, Wednesday saw stability return to markets as producer’s inflation numbers were in-line with expectations. Those figures were held in check by crude oil prices falling in August. On Wednesday, the S&P […]
U.S. inflation (CPI) data for August came in hotter than expected on Tuesday morning and triggered a brutal sell-off in markets. Despite a slight decline in oil prices, overall inflation was higher than predicted. Core inflation between July and August […]
The week began with investors in a risk-on mode, driving up stocks and cryptos alike. The S&P rose 1.06%, the Nasdaq 1.27%, and the Dow added 0.71%. It was a rare session that saw both tech and energy lead. Major […]
Markets ended the short trading week on an optimistic note, shrugging off lingering worries of interest rates hikes and rallied strongly across the board. The S&P rose 1.53% past 4,000, the Nasdaq jumped 2.11% past 12,000, and the Dow added […]
The death of Queen Elizabeth II interrupted the flow of business news on Thursday. It was a choppy session saw but resulted with modest increases across the board. The major indices in New York and Toronto all climbed by roughly […]
Wednesday saw a busy market, starting with crude oil tanking over 5% due to a surging U.S. dollar and fears of weakening demand from China. However, stocks rallied to end five losing sessions. In New York, the S&P closed 1.84%, […]
The first session after Labour Day was a choppy one as stocks see-sawed between green and red, but finished slightly negative. In New York, the S&P closed -0.41%, the Nasdaq retraced by -0.74%, and the Dow -0.55%. Markets shrugged off […]
It was a wild end to the week before the long Labour Day weekend. On Friday morning, the U.S. unemployment number surprised Wall Street when it rose from 3.5% to 3.7%. Optimism swept New York, since higher unemployment will temper […]
The bear market that has ravaged Toronto and especially New York since Jay Powell’s hawkish comments last Friday showed signs of fading Thursday as stocks climbed throughout the session to close positive as well as negative. The S&P finished 0.3%, […]
Stocks and oil continued to fall on Wednesday, but modestly compared to previous sessions. The major indices in Toronto and New York surrendered roughly half- to nearly a full percentage point during a typical light summer session. In Toronto, most […]
After seeing green at the start of Tuesday’s session, the major indices tumbled into the red and stayed there until the close. The bears continued to rule as the S&P closed -1.1%, the Nasdaq -1.12%, and the Dow -0.96%. It […]
The week began with the major indices adding to Friday’s losses, which were triggered by hawkish comments made about interest rates by U.S. Fed chief, Jay Powell. The sell-off Monday wasn’t a surprise, though the TSX nearly finished in the […]
The U.S. Fed’s Jay Powell spoke for six minutes on Friday morning and by the close the major American indices had plunged 3-4%. Powell said he would keep interest rates high to combat inflation, though didn’t put a number on […]
Thursday saw markets trading at low volumes but bullish ahead of the U.S. Fed’s Jay Powell delivering a keynote address that may hint at the next rate hike. With tech leading the charge, the S&P closed 1.41%, the Nasdaq 1.67%, […]
Stocks mildly rose on Wednesday to partially offset recent losses. A rise in commodity prices helped lift the TSX by 0.23% back into 20,000 territory. WTI rose 1.65% above $95 a barrel as energy as well as materials led Canadian […]
Relatively speaking, markets calmed down on Tuesday following Monday’s rout that saw sharp losses, particularly in tech. The S&P finished -0.22%, the Nasdaq was flat, and the Dow was -0.47%. Oil led gains as WTI continued to surge, rising 3.5% […]
The trading week began in the red as major averages in New York and Toronto sank into the red. Fears of the U.S. Fed’s Jay Powell announcing a hawkish interest rate hike later this year triggered a steep sell-off on […]
Hawkish signals from the U.S. Fed in recent days that it will hike interest rates pressured stocks on Friday. The S&P closed the session -1.29% and 1.2% for the week, the Nasdaq -2.% and -2.7% for the week, and the […]
It was a typically quiet summer session on Thursday which saw the major indices on Wall Street as well as the TSX climb modestly into the green. The S&P closed 0.24%, the Nasdaq 0.21%, and the Dow was flat. Crude […]
After several days of gains in Toronto and New York, markets on Wednesday struggled to extend their winning streak. The S&P closed -0.72%, the Nasdaq -1.25%, and the Dow -0.51%. Crude oil rose on signs of strong demand with WTI […]
