Stocks slide after U.S. Fed decision

Wednesday stocks were in a holding pattern until U.S. Fed chief, Jerome Powell, announced mid-afternoon an expected 25-basis point cut to the key interest rate. However, his announcements during the press conference triggered a steep sell-off in both New York […]

Stock slump continues

Markets in New York and Toronto continued to weaken on Tuesday. The TSX closed 0.54% lower as only two sectors managed gains for the session, particularly health care. Telcos and staples led the remaining sectors down. Making outsized moves were […]

Markets stabilize

Allan Tong Posted On December 19, 2024

A day after sliding nearly 3% across the board after the U.S. Fed’s hawkish projection for 2025, Bay and Wall streets stabilized. The S&P and Nasdaq were essentially flat on Thursday, while the Dow gained 0.27% and the TSX shed 0.32%.

Major movers in New York included Darden Restaurants soaring 14.71%, Palantir 4.52%, Micron -16.9%, Lamb Weston -20.56% and Vertex -11.85%. Bitcoin lost more ground, falling US$4,000 to tread below US$97,000. The U.S. 10-year yield inched up to 4.57%.

Only three sectors, including utilities, gained in Toronto. Industrials, real estate and telcos lead the remaining sectors down. Major movers on Bay Street included Birchcliffe Energy at 3.52%, CargoJet -4.5%, CNQ -0.84%, and both Interfor and Canadian Pacific -3.02%. WTI sank 1% to US$69.90 while gold added US$11 to US$2,596 an ounce.

🍽 Darden Restaurants (DRI-N) +14.71%

💾 Palantir Technologies (PLTR-N) +4.52%

💾 Micron Technology (MU-Q) -16.9%

🍭 Lamb Weston (LW-N) -20.56%

💊 Vertex Pharmaceuticals Inc. (VRTX-Q) -11.85%

🛢 Birchcliff Energy Ltd. (BIR-T) +3.52%

🛫 Cargojet Inc (CJT-T) -4.5%

🛢 Canadian Natural Rsrcs (CNQ-T) -0.84%

🌲 Interfor Corp (IFP-T) -3.02%

🚂 Canadian Pacific Rail (CP-T) -3.02%