After the close with Allan
Earnings by American retailers helped lift American stocks, while the TSX managed to gain despite the ongoing decline in crude oil prices. In New York, The S&P added 0.19% and the Dow 0.71% while the Nasdaq closed -0.19%. Noteable gainers […]
The week began with surprisingly weak economic data from China and an announcement to raise their interest rates which took many by surprise. Crude oil prices immediately sank with WTI falling 3.35% below $89 and WCS sliding 4% below $70. […]
Following lighter-than-expected inflation numbers earlier this week, U.S. consumer data released on Friday showed growing optimism. Though volumes were at typically quiet August levels, Wall and Bay street rallied and closed on strength during the session. The TSX added nearly […]
Oil rose Thursday after the IEA hiked its demand growth forecast for 2022. WTI added 2.4% to $94 while WCS jumped 3.5% to $74. Oil as well as consumer staples helped lift the TSX by 0.53% to close just shy […]
On Wednesday, July’s American inflation rate clocked in at 8.5%, lower than the expected 9.1%. The lower figure triggered a rally on both sides of the border and lifted all sectors. The S&P jumped 2.13%, the Dow 1.55% and the […]
Tuesday saw tech stocks on both sides of the border weigh on markets. The TSX retreated 0.46% due to weakness in consumer staples and tech, though materials and utilities were in the green. The latest earnings sank Nuvei by 21.44% […]
A surge in materials, real estate and utilities lifted the TSX Monday by 0.37%. Capstone Copper jumped 15.67%, but cannabis soared after a U.S. senator hinted at marijuana reforms that would make lending to such companies easier. As a result, […]
Friday saw the latest jobs numbers released in Canada and the U.S., but a mixed picture in stocks. Canada modestly lost jobs in July, and the TSX ticked down 0.09%, though gained 0.41% for the week despite weakness in crude […]
Thursday saw the price of crude oil continue to slide after OPEC announced a modest output increase. WTI fell below $90 (for the first time since Russia invaded Ukraine) to trade around $88.40. Meanwhile, WCS plunged 3.5% to $69. Naturally, […]
U.S. economic data on Wednesday triggered a convincing rally led by tech. The ISM Services PMI hit 56.7% in July in a surprise jump from June’s 55.3%, indicating that supply chain slowdowns are easing. Also, the St. Louis Fed said […]
Nancy Pelosi’s visit to Taiwan and China’s announcement of missile tests rattled markets on Tuesday and pressured stocks. The TSX shed nearly 1% and finished weak. Similarly in New York, the S&P closed -0.66%, the Nasdaq -0.16% and the Dow […]
With the TSX closed for the holidays, the American indices saw a choppy session to usher in August on Monday. The indices closed down by 0.14% to 0.28% with oil weighing down the most. Financials were also weak, though consumer […]
Friday saw stocks extend gains of recent days to end a positive week and month. The TSX rose 1.31% for the day or 3.7% for the week and slightly more in July. Meanwhile, the S&P closed on Friday up 1.42%, […]
After initial weakness, Thursday’s markets in Toronto and New York climbed and stayed positive throughout the session to extend Wednesday’s gains. Dovish comments by the U.S. Fed’s Jay Powell triggered a surge in stocks late Wednesday. On Thursday, the New […]
Wednesday markets soared on the latest announcement by U.S. Fed chair, Jay Powell, and more earnings reports by big tech stocks. As expected, Powell hiked U.S. rates by 75 basis points and unsurprisingly declared that the next hike will be […]
Tuesday was a rough day for retail stocks, both brick-and-mortar and e-commerce, and pressured stocks in Toronto and New York. Walmart announced downbeat guidance for the rest of the year by lowering its profit outlook, blaming rising food and gas […]
The week began in a relatively quiet tone as investors, particularly on Wall Street, await key earnings and the U.S. Fed’s next interest rate announcement later this week. The S&P closed up 0.13%, the Nasdaq -0.43% and the Dow 0.28% […]
Stocks drifted south on Friday, but still ended the week positive. The S&P closed -0.93% but rose around 2.5% for the week. The Nasdaq finished -1.87% but has climbed 7% so far this month. Meanwhile, the Dow closed -0.43% but […]
U.S. earnings continued to fuel this week’s rally even as oil fell on Thursday. Closing on strength, the S&P rose nearly 1%, the Dow half that and the Nasdaq 1.36%. Energy lagged while tech thrived. Tesla released earnings the day […]
Wednesday’s markets began tentatively but eventually extended Tuesday’s rally amid key U.S. earnings. In New York, the S&P was up 0.59%, the Nasdaq 1.58 and the Dow 0.16%. Tech and consumer discretionary fueled the surge while healthcare and utilities lagged. […]
Markets on Tuesday marched higher to the drumbeat of strong U.S. earnings. In New York, the S&P rallied 2.76%, the Nasdaq 3.11% and the Dow 2.43%. Halliburton jumped 2.11% after its report. After the bell, Netflix (one of the S&P’s […]
A rebound in crude oil helped lift the TSX by 1.1% on Monday. WTI soared $4.50 to $102 and WCS jumped $2.30 to nearly $79. Most sectors were in the green except consumer staples which lagged. Big gainers were Canopy […]
Markets in Toronto and New York rebounded convincingly Friday to lessen the week’s losses. Led by financials and healthcare, Wall Street saw the S&P close 1.91% (as all 11 sectors rallied), the Nasdaq 1.7% (down 0.63% for the week) and […]
Wednesday’s higher than expected CPI number continued to pressure markets Thursday while financials and energy hampered the TSX. However, the major indices rallied towards the end to finish well into session highs. In New York, the S&P closed -0.3%, the […]
It was a wild Wednesday on the markets after the Bank of Canada hiked interest rates by a full percentage point and U.S. inflation (CPI date) came in hotter than expected. Stocks rose, slid and nearly recovered during the session. […]
