After the close with Allan
Tuesday’s session erased Monday’s gains and then some as U.S. new homes sales missed expectations in August, and September’s consumer confidence index fell in September from August. This data fueled investor anxiety and kept the U.S. 10-year yield at 4.548%. […]
The trading week began on a relatively quiet note with stocks edging up in Toronto and New York while crude oil was flat. The TSX added 20 points to remain just below 20,000 as Canadian sectors were mixed. Energy stocks […]
Friday closed with the major incides in Toronto and New York either flat or mildly down, but losing ground over the week. The TSX shed 11 points Friday to remain below 20,000 while it slipped 4% over the week. Sectors […]
Markets sold off Thursday, a day after the U.S. Fed announced it would not touch interest rates, but would keep them higher for longer and would raise them again if needed. That hawkish sentiment, similar to statements just made by […]
Markets treaded water on Wednesday until the U.S. Fed’s Jay Powell announced his latest interest rate decision: no change. This was widely expected. However, his comments immediately afterwards at the press conference were considered hawkish by many. As a result, […]
Canada’s inflation rate unexpectedly rose to 4.0% in August, surpassing the expected 3.8% and July’s 3.3% print. The rising price of crude oil was the main culprit. The news hit the TSX Tuesday and pushed the index down 1.34%, with […]
Monday saw the rally in crude oil continue as WTI hit $92 after surging 1.3%. Despite oil’s performance, energy was one of the weakest sectors on the TSX along with tech and materials. All sectors except for a modest rise […]
Stocks closed Friday on weakness, though the TSX managed to gain for the session and the week. The Canadian index advanced 0.26% on Friday and 2.73% over the week. A key factor is the ongoing rally in crude oil which […]
Thursday saw crude oil’s rally continue as WTI broke $90 a barrel by rising 2.3%. This helped lift the TSX by 1.42% as all sectors rallied, led by real estate, consumer staples and industrials. Energy names were among the biggest […]
After two days of outsized moves, markets saw moderate moves on Wednesday, though mostly positive. The TSX added 0.29% as most sectors rose, starting with consumer staples, industrials, financials and utilities. Key movers included The North West Co. soaring 14.66%, […]
Tuesday markets returned most of the gains made in Monday’s rally, led by tech. The Nasdaq closed -1.04%, the S&P -0.57% and the Dow -0.05%. Oracle plunged 13.5% after reporting. Apple unveiled new products but declined 1.71%. Meanwhile, Tesla closed […]
The trading week began on a positive note as markets in Canada and the U.S. rose, almost across the board. Tech was the strongest sector with the Nasdaq popping 1.14% to nearly 14,000, the S&P up 0.61% to almost 4,500 […]
U.S. jobless claims came in lower than expected while the Bank of Canada said Thursday that it will keep the door open to another interest rate. This led to continued market weakness on both sides of the border Thursday as […]
Wednesday’s session saw another sell-off, this time caused by inflation data, despite the Bank of Canada holding the key lending rate at 5.0%. The U.S. ISM services index rose 2.1% in August, and the ISM manufacturing index jumped 5.8%. The […]
The trading week after Labour Day began with the price of crude oil rallying after Saudi Arabia and Russia announced further production cuts. WTI jumped by 1.4% to around $86.75. Energy was, by far, the strongest sector on the TSX […]
Crude oil continued to rally with WTI jumping 2.6% to nearly $86 a barrel. This helped lift the TSX by 1.25% Friday, well past 20,500 and to end the week 3.58% higher. All sectors except telcos rallied, led by staples, […]
Thursday’s session saw this week’s winning streak end or at least pause in Toronto and New York. The TSX shed 0.19% to close below 20,300. Most sectors were down, led by staples, industrials and real estate, but tech rallied. A […]
Wednesday’s session saw the Toronto and New York indices extend gains in the days following Jerome Powell’s speech last Friday. Investors sense that central banks are near the end of interest rate hikes and so are buying more stocks. The […]
Markets across the board rallied on Tuesday, and not just equities. It was rare for oil and cryptos to rally in synch with stocks. A wave of green hit traders’ screens as all sectors rose in Toronto, led by consumer […]
The trading week began on a positive note as stocks rallied across the board in Toronto and New York. Despite typically quiet late-summer volumes, the TSX advanced nearly 1% to return past 20,000. All sectors but staples climbed, led by […]
U.S. Fed Chair, Jerome Powell, delivered his much-anticipated speech in Jackson Hole, Wyoming Friday morning. Markets rose before his comments, which many deemed mildly hawkish or neutral. Essentially, Powell said he will continue to rely on inflation data in determining […]
AI leader Nvidia reported a blow-out quarter late Wednesday, but a bearish market limited its Thursday gains to only 0.59%. Markets continued to their August sell-off with Wall Street waiting for U.S. Fed’s Jerome Powell’s Jackson Hole speech on Friday. […]
Markets rallied nearly across the board Wednesday as the bulls roared back after recent selling. Except for energy, all sectors on the TSX climbed, led by consumer staples, materials and real estate. The TSX gained nearly 1% to approach 20,000. […]
Tuesday saw typically light late-summer trading, but also typical August weakness as the major indices continued to fade. There were few dramatic moves, but the TSX surrendered 0.47% to stay well below 20,000. Materials were the only sector to show […]
The trading week began with typically low summer volumes, but tech rebounded as the Nasdaq rallied 1.56%. It was helped by Palo Alto Network whose shares soared 14.62% after topping estimates in its latest report (released last Friday afternoon). The […]
