After the close with Allan
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 […]
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%, […]
