Markets sideways before Fed announcement

Allan Tong Posted On January 30, 2024

Though the TSX and Dow made fresh 52-week highs on Tuesdays, markets in Toronto and New York went basically sideways on Tuesday in mixed trading. Investors are waiting for U.S. Fed chief Jay Powell to make his interest rate announcement on Wednesday at 2:00 pm ET. The TSX added 0.13% to 21,227 with slightly more sectors down than up. Up was energy, and down were consumer staples and real estate.

Manulife traded the most shares by rising 1.53%, Baytex jumped 3.05%, Ballard Power -6.06%, BRP -4.41% and BlackBerry -4.02%. WTI crude added 1.2% to $77.70 a barrel.

On Wall Street, the S&P closed -0.06%, the Nasdaq -0.76%, and the Dow 0.35% to 38,467. Notable names included MSCI which leapt 9.31%, Bank of America 3.51%, GM 7.8%, AMD -3.21% and Intel -2.1%. The U.S. 10-year yield ticked down to 4.036% while Bitcoin added 0.7% to US$43,600.

🏛 Manulife Financial (MFC-T) +1.53%

🛢 Baytex Energy Corp (BTE-T) +3.05%

🧬 Ballard Power Systems (BLDP-T) -6.06%

🛒 BRP INC. (DOO-T) -4.41%

📱 BlackBerry (BB-T) -4.02%

🏛 MSCI Inc. (MSCI-N) +9.31%

🏛 Bank of America (BAC-N) +3.51%

🚘 General Motors Corporation (GM-N) +7.8%

💾 Advanced Micro Devices (AMD-Q) -3.21%

💾 Intel (INTC-Q) -2.1%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.7%