Sideways, post-Powell

Allan Tong Posted On March 20, 2025

The day after U.S. Fed chair, Jay Powell, announced he was holding American interest rates and cutting the growth forecast due to Trump’s policies, markets in New York and Toronto went sideways. The lack of direction led to the S&P and Dow shedding a handful of points, essentially flat on Thursday, while the Nasdaq gave back 0.33%. The U.S. 10-year yield held around 4.241% though Bitcoin slipped nearly US$1,000 to US$84,425.

Key movers: Darden Restaurants 5.77%, Ford -1.57% in heavy trading, Accenture -7.26%, Jabil 3.12% and Broadcom -2.57%.

Likewise, the TSX was flat, down nine points, though seven of 11 sectors closed lower. Healthcare rallied the most while Telcos fell furthest. Major movers: Celestica popping 3.95%, MDA Space 3.8%, CGI -4.71%, BRP -4.14% and First Quantum Minerals -4.02%. Gold held its ground around US$3,044 while WTI rose 1.65% to US$68.25.

🍽 Darden Restaurants (DRI-N) +5.77%

🚘 Ford Motor (F-N) -1.57%

🖨 Accenture Ltd. (ACN-N) -7.26%

⚙ Jabil Circuit (JBL-N) +3.12%

💾 Broadcom (AVGO-Q) -2.57%

🧬 Celestica Inc (CLS-T) +3.95%

💾 MDA Ltd. (MDA-T) +3.8%

🖨 CGI Group (A) (GIB.A-T) +4.71%

🛍 BRP INC. (DOO-T) +4.14%

⛏ First Quantum Minerals (FM-T) -4.02%