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Yields and oil surge, stocks mixed

Wednesday’s session saw the price of WTI crude spike 3.6% to $93.65 a barrel and the U.S. 10-year yield surge past 4.6%, creating a choppy trade for stocks on both sides of the border. Despite oil’s rally, the TSX sank […]

Consumer, housing data misses, stocks sink

Tuesday’s session erased Monday’s gains and then some as U.S. new homes sales missed expectations in August, and September’s consumer confidence index fell in September from August. This data fueled investor anxiety and kept the U.S. 10-year yield at 4.548%. […]

Stocks, yields climb, oil flat

The trading week began on a relatively quiet note with stocks edging up in Toronto and New York while crude oil was flat. The TSX added 20 points to remain just below 20,000 as Canadian sectors were mixed. Energy stocks […]

Stocks stabilize to end choppy week

Friday closed with the major incides in Toronto and New York either flat or mildly down, but losing ground over the week. The TSX shed 11 points Friday to remain below 20,000 while it slipped 4% over the week. Sectors […]

The post-Fed slump

Markets sold off Thursday, a day after the U.S. Fed announced it would not touch interest rates, but would keep them higher for longer and would raise them again if needed. That hawkish sentiment, similar to statements just made by […]
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U.S. markets slip on renewed tensions in Trump, China and social media, TSX flat

Allan Tong Posted On May 28, 2020
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Markets on Thursday ended on session lows and dipped into the red as renewed US-China tensions arose. In this election year, Trump has been sabre-rattling at China over that country’s pandemic response. Trump announced he will address this issue on Friday, which sparked a partial sell-off to reverse recent gains. In addition, Trump is picking a fight with America’s own tech giants (that are propelling the current rally) over policing its posts. Trump’s launched this battle after Twitter on Tuesday added hyperlinks to counter Trump’s false claims that Mail-In Ballots in the November election will be fraudulent.

Trump threatens to weaken the defences of social media companies when it comes to what their users post. It’s too soon to tell whether this is more noise or an authentic threat to social media. Twitter sunk 4.45% and Facebook slipped 1.61%. The Nasdaq closed -0.46%, the Dow fell -0.58% and the S&P -0.21%.

In Canada, bank earnings continued with CIBC announcing missed Q2 earnings and revenues. Following the same script as bank earnings earlier this week, the bad news wasn’t that bad to investors, and CIBC actually rallied 2.71%. However, TD disappointed the street and fell 3.84%. The TSX closed flat and shed just 9.3 points.

🐦 Twitter, Inc -4.45%
🕵️‍♂️ Facebook -1.61%
🏛 Canadian Imperial Bank of Commerce +2.71%
🏛 Toronto Dominion -3.84%




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