After the close with Allan
On Wednesday afternoon, the U.S. Fed raised interest rates by 25 basis points, which the market widely expected. Chair Jerome Powell’s comments didn’t move markets, which were flat overall. The Nasdaq surrendered 17 points, the S&P didn’t budge though the […]
Tuesday saw the TSX shed only 0.09% as sectors were mixed . Materials led, but financials and staples lagged. Banks gave back some recent gains, including Royal at -1.55% in the heaviest trading and Bank of Nova Scotia by -2.61%. […]
A busy trading week began positively with both crude oil and stocks rising. WTI jumped 2.4% to nearly $79 a barrel as energy led gains on the TSX. The Canadian exchange advanced 0.15% as real estate also rallied, but utilities […]
Canadian stocks lag American ones so far this year, but outperformed this past week. The TSX rose 0.5% Friday to nearly 20,500 and rallied 1.56% for the week, beating the major American indices except the Dow which climbed 2.11% over […]
Thursday saw general selling in markets as some stocks gave up gains after recently rallying. Earnings were a key driver, particularly in the U.S., as Tesla slid 9.74% and Netflix sank 8.41% after reporting disappointing quarters and forecasts. Tech lagged […]
U.S. earnings extended Wall Street’s winning streak as all three major indices made intraday 52-week highs. The S&P closed up 0.24%, the Nasdaq rose then settled to advance only 0.03%, while the Dow added 0.31% to reach 35,000. There was […]
Tuesday saw more inflation data fan the current stock market rally. Canadian inflation fell to 2.8%, though core inflation including food remains stubbornly high. The TSX gained 0.75% as most sectors rallied, led by materials and financials, the latter enjoying […]
The trading week began with a flat TSX, shedding 0.17% as more sectors than not declined. Financials outperformed all, with Manulife up 1.73%, for example, while energy, utilities and telcos sank. Other major movers were Bausch Health surging 9.76% and […]
Markets were mixed or flat to end a positive week in Toronto and New York that was fueled by cooler inflation numbers in the U.S. Friday saw some profit-taking as the TSX shed 12 points and was essentially flat. More […]
For the second day in the a row, U.S. inflation numbers came in lower than expected to spark a stock market rally. The producers’ inflation number rose only 0.1% in June, lower than the expected 0.2%. There were gains across […]
Wednesday saw the Bank of Canada raise interest rates by 25 basis points to 5% which was widely expected. Despite that, the TSX rose 1% past 20,000, with almost all sectors rallying led by materials, utilities and real estate as […]
Tuesday saw a further rise in markets in Toronto and New York. The TSX added 0.28% though stayed below 20,000. Most sectors were up, led by energy. WTI crude jumped 2.5% to $74.50 a barrel. Crescent Point Energy rallied 2.82% […]
Markets on both sides of the border saw modest moves in light summertime trading to begin the week. The TSX slipped 0.1% with sectors mixed. Materials rose the most while telcos and utilities sold off. Major movers were Baytex up […]
The week ended with the TSX edging up 0.12% on Friday but losing 0.74% during the week to stay below 20,000. Actually, more sectors were in the red than green with energy and materials rallying, but staples and industrials lagging. […]
Much higher than expected gains in U.S. employment sparked selling across the board on Thursday. Investors feared that these numbers will encourage the Fed to keep interest rates higher for longer. The S&P closed -0.82%, the Nasdaq -0.84% and the […]
Wall Street returned to business Wednesday. The major indices saw modest declines after the U.S. Fed released minutes of its last meeting in the mid-afternoon. Those minutes reflected the Fed unanimously agreeing to pause interest rates and to adopt a […]
With Wall Street closed for Independence Day, the TSX rose 0.21% to nearly 20,200 in light holiday trading. OPEC and Russia announced oil production cuts which helped lift the Canadian index. Naturally, energy was a leading sector as well as […]
With the TSX closed for the holidays and the NYSE closing early ahead of the fourth of July, American markets edged up on Monday in predictably quiet trading. The S&P gradually climbed 0.12% higher, the Nasdaq 0.21% and the Dow […]
Markets rallied across the board in Toronto and New York to end the first half of 2023 on strength. New data showing inflation declining in both countries are fueling sentiment. The TSX rose 1.3% Friday to return to 20,000 as […]
Thursday saw more gains on both sides of the border. The TSX added 0.48% to close within a hair of 20,000. The only negative sector was tech and even those losses were mild. Financials, energy and discretionary saw the most […]
Wednesday trading was mixed with Canadian stocks rising but American ones slipping modestly except tech. The TSX rose 0.38% but stayed below 20,000. Staples and tech led the Toronto rally while materials were among the three weak sectors. Notably, Baytex […]
Tuesday saw tech leading rallies in Toronto and New York. The TSX rose 0.85% as all sectors except two were positive. Discretionary, real estate and indistrials also rallied while staples modestly declined. Leaders included BlackBerry up 5.24%, Lightspeed 5.76%, TD […]
The TSX rallied nearly 1% Monday though stayed below 20,000. All sectors but tech rose, with consumer staples soaring and energy and financials showing strength. WTI oil regained 0.56% to nearly reclaim $70 a barrel, a day after near mutiny […]
On Thursday, higher than expected crude oil supplies pressured the price of WTI by 4.3% down to $69.50 a barrel. In turn, the TSX declined 0.66%. Only staples and industrials gained on Bay Street as energy and discretionary led the […]
The U.S. Fed’s Jerome Powell faced the Senate Wednesday and repeated his bearish sentiments from last week’s interest rate announcement. Though Powell said nothing new, but his tone and remarks remained bearish and reiterated more rate hikes this year. The […]
