Markets rally after Powell comments

Allan Tong Posted On March 19, 2025

U.S. Fed Chair Jerome Powell held the key lending rate in America, but his comments on Wednesday afternoon warned of economic weakness due to Trump’s tariffs, and he signaled two interest rate cuts for 2025. The S&P jumped 1.08%, the Nasdaq 1.41% and the Dow 0.92% as the entire Mag 7 rose higher.

That included Nvidia, up 1.81% and Alphabet by 2.22%. Elsewhere, Boeing climbed 6.84%, Super Micro Computer 5.8% though Intel slid 6.94%. The U.S. 10-year yield rose ahead of the mid-afternoon announcement, but sank to 4.248% by the close. Bitcoin, however, jumped 3.6% to US$85,775.

The TSX outperformed Wall Street by rallying 1.48%. Nine sectors, led by tech, staples and energy, gained while telcos was one of the few laggards. Major movers: Shopify 8.28%, First Quantum Minerals 6.49%, Alimentation Couche-Tard 6.31%, CNQ 2.71% and Whitecap Resources 3%. Meanwhile, gold hit a new high of US$3,045 by the close.

💾 NVIDIA Corporation (NVDA-Q) +1.81%

🧮 Alphabet Inc (GOOG-Q) +2.22%

🛫 Boeing (BA-N) +6.84%

💾 Super Micro Computer (SMCI-Q) +5.8%

💾 Intel (INTC-Q) -6.94%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3.6%

🛍 Shopify Inc. (SHOP-T) +8.28%

⛏ First Quantum Minerals (FM-T) +6.49%

🍱 Alimentation Couche-Tard (ATD-T) +6.31%

🛢 Canadian Natural Rsrcs (CNQ-T)+2.71%

🛢 Whitecap Resources (WCP-T) +3%