After the close with Allan
The market rotation out of tech into rate-sensitive stocks accelerated Wednesday after reports were published that U.S. President Biden is considering a sweeping clampdown on U.S. companies exporting their chipmaking equipment to China. This triggered a sell-off of semi stocks […]
Canadian stocks extended their winning streak into Tuesday, driven by June’s inflation rate falling to 2.7% and fueling the chances of the Bank of Canada cutting interest rates next week. The dividend-heavy TSX rallied nearly across the board by 1.07% […]
With investors optimistic that interest rates will be cut in Canada and the U.S., the market rally continued to broaden beyond tech on Monday. The TSX and Dow closed at record highs to repeat last Friday’s feat. The Canadian index […]
The week ended with investors seeing green in Toronto as well as New York. The TSX made yet another record close after rising 0.67% Friday to 22,695. The Canadian index finished nearly 3% higher for the week. The most influential […]
It was a tale of two markets on Thursday. The TSX soared 193 points in a broad rally to reach a record high of 22,544. Leading the way were CNQ up 1.61%, TD 0.97%, Cenovus 1.23%, TC Energy 1.15% and […]
Wednesday saw the second day of U.S. Fed Chief Jay Powell facing Congress and again he hinted at making progress in the fight against inflation. His dovish sentiments pushed the S&P and Nasdaq to yet more record closes. Both indices […]
U.S. Fed Chief Jay Powell told Congress on Tuesday that keeping interest rates higher for longer could jeopardize economic growth. This signaled to markets that the Fed will cut rates at some point and helped lift the S&P to a […]
On Monday, the S&P and Nasdaq made yet more record closes despite weak volumes and modest gains. The S&P added five points and the Nasdaq 0.28% for the session, while the Dow actually shed 31 points. Big semi names, Nvidia […]
Friday saw the June U.S. unemployment rate rise to 4.1% which was lower than the expected 4.0% and fueled hopes that the Fed will cut interest rates. The data pushed the U.S. 10-year yield down to 4.27% but lifted the […]
Bay Street volumes were predictably light as the Wall Street celebrated the fourth of July, though the TSX inched 0.11% higher. Only financials showed any weakness and that was modest. Staples, telcos and utilities led all other sectors higher. There […]
U.S. markets closed early on Wednesday ahead of the July 4 holiday, but the latest employment data fueled the S&P and Nasdaq to fresh highs. Payroll growth came in lighter than expected for June as weekly jobless claims clocked in […]
On Tuesday, Wall Street extended its winning streak into the second half of the year after the S&P and Nasdaq made fresh highs. The S&P rallied 0.62% to breach 5,500 while the Nasdaq gained 0.84% to top 18,000. Meanwhile, the […]
With the TSX closed for the national holiday, Wall Street opened the second half of 2024 with a modest rally. The S&P advanced 0.28%, the Nasdaq 0.84% and the Dow 44 points. Again, tech led the charge higher as Tesla […]
The end of June means reports cards, and here is how the major indices performed in the first half of 2024: the TSX 4.5%, the S&P 14.5%, the Nasdaq 18% and the Dow nearly 4%. The biggest gains, of course […]
Trading volumes were lower than usual as the markets went sideways on Wednesday. Gains were modest across the major indices in Toronto and New York. The TSX added 16 points materials and industrials made outsized gains, but couldn’t offset weakness […]
Markets leader Nvidia recovered some recent losses by rebounding 6.47% Tuesday. Its performance lifted the Nasdaq by 1.24% as the S&P added 0.35% and the Dow shed 0.8%. The cruise lines sailed to generous gains as Carnival popped 7.87% and […]
The week started differently between Canadian and American markets. Lagging Wall Street this year, the TSX rebounded Monday by 1.28% as all sectors but tech rallied. Staples, energy, financials and utilities enjoyed outsized gains. Most active were energy names TC […]
Markets ended the week on a very mixed note as leader Nvidia sank 3.22%. The S&P closed -0.16%, the Nasdaq -0.18% and the Dow was flat, adding only 15 points. For the week, the S&P gained 0.57%, the Nasdaq 0.12% […]
Wall Street reopened Thursday, but tech snapped its winning streak as the Nasdaq shed 0.68%, led by behemoth Nvidia which sank 2.37%. Other major movers were Apple at -2.31%, AMD up 5.17% and Gilead which jumped 8.3%. Elsewhere, the S&P […]
U.S. markets were closed Wednesday for a holiday. The TSX sank 0.44% as all sectors fell. Staples and industrials fared thr worst and materials and telcos the best. Volumes were less than half the norm. Gold held st US$2,321 and […]
Tuesday’s markets saw mixed trading, but Nvidia rallied another 3.53% to not only make a new record high, but surpassed Microsoft as the largest market cap stock at US$3.3 trillion. Despite NVDA’s gains, the Nasdaq sank 1.83%. Tech was mixed […]
The start of the new trading week extended record gains made in the last one as the S&P and Nasdaq reached new highs at Monday’s close. The S&P added 0.77% to 5,472 and the Nasdaq 0.95% to 17,857. As usual, […]
Friday saw the Nasdaq holding its record high, but failing to advance while the S&P slipped 0.16% from its own high. For the week, however, these indices gained 3.25% and 1.58% respectively, driven by AI stocks. In fact, Adobe delivered […]
In some ways Thursday was a repeat of Wednesday’s session as the S&P and Nasdaq made record highs again, driven by AI and tech. However, the TSX and Dow sank. Once more, U.S. inflation data drove much of the action […]
Wall Street was hit by the double whammy of tame inflation and the Fed’s latest rate decision to propel the S&P and the Nasdaq to a second-straight day of new highs. U.S. consumer prices rose year-over-year in May by 3.3% […]
