After the close with Allan
The meltdown in cryptos continued on Wednesday as Binance backed out of its FTX bail-out. Investors and speculators sold their crypto positions hard with Bitcoin tanking 13.77% to fall below $16,000. Crypto’s tailspin overshadowed the sell-off in stocks a day […]
Stocks took a backseat Tuesday as troubles in cryptos saw a sharp sell-off. Bitcoin sank 11% to nearly $18,000 as the financial health of the FTX crypto exchange was questioned. Meanwhile, a German watchdog censured Coinbase over its structure. Shares […]
On Monday, Wall Street ignored ongoing volatility and pinned its hopes on a mixed outcome in Tuesday’s U.S. Midterm Elections. Backed up by history, the midterms would result in the Republicans regaining enough power in Washington to limit the Democrats’ […]
The TSX advanced 1% on Friday and closed the week a few points higher while the American indices rallied 1.3% to offset losses for the week. The Nasdaq shed 6% over the past five sessions while the S&P slid nearly […]
Thursday saw the Canadian market flat with the TSX gaining seven points while Wall Street continued to sell off a day after the U.S. Fed made hawkish comments about the trajectory of interest rates. The TSX was mixed with energy […]
As expected Wednesday, the U.S. Fed Chair, Jay Powell, raised interest rates by 75 basis points, but stocks plunged after he said that rates will climb higher than expected in order to combat inflation. With red rippling across the trading […]
A 2-2.5% rise in crude oil helped lift the TSX by 0.48% past 19,500 as WTI traded above $88 a barrel and WCS past $58.50. However, newly released U.S. labour numbers ahead of the Fed’s next interest rate hike pressured […]
Stocks see-sawed to start the trading week, but finished modestly down on both sides of the border. The TSX closed -0.23%, the S&P -0.75% right below 3,900, the Nasdaq -1.03% just under 11,000, and the Dow -0.39.%. The U.S. 10-year […]
Markets on both sides of the border ended the week positive, despite rocky quarterly reports from several megatech names. Most of the focus was on Wall Street. On Friday, the major indices rose 2.5% to as high as 2.87% on […]
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 […]
