After the close with Allan
After two days of outsized moves, markets saw moderate moves on Wednesday, though mostly positive. The TSX added 0.29% as most sectors rose, starting with consumer staples, industrials, financials and utilities. Key movers included The North West Co. soaring 14.66%, […]
Tuesday markets returned most of the gains made in Monday’s rally, led by tech. The Nasdaq closed -1.04%, the S&P -0.57% and the Dow -0.05%. Oracle plunged 13.5% after reporting. Apple unveiled new products but declined 1.71%. Meanwhile, Tesla closed […]
The trading week began on a positive note as markets in Canada and the U.S. rose, almost across the board. Tech was the strongest sector with the Nasdaq popping 1.14% to nearly 14,000, the S&P up 0.61% to almost 4,500 […]
U.S. jobless claims came in lower than expected while the Bank of Canada said Thursday that it will keep the door open to another interest rate. This led to continued market weakness on both sides of the border Thursday as […]
Wednesday’s session saw another sell-off, this time caused by inflation data, despite the Bank of Canada holding the key lending rate at 5.0%. The U.S. ISM services index rose 2.1% in August, and the ISM manufacturing index jumped 5.8%. The […]
The trading week after Labour Day began with the price of crude oil rallying after Saudi Arabia and Russia announced further production cuts. WTI jumped by 1.4% to around $86.75. Energy was, by far, the strongest sector on the TSX […]
Crude oil continued to rally with WTI jumping 2.6% to nearly $86 a barrel. This helped lift the TSX by 1.25% Friday, well past 20,500 and to end the week 3.58% higher. All sectors except telcos rallied, led by staples, […]
Thursday’s session saw this week’s winning streak end or at least pause in Toronto and New York. The TSX shed 0.19% to close below 20,300. Most sectors were down, led by staples, industrials and real estate, but tech rallied. A […]
Wednesday’s session saw the Toronto and New York indices extend gains in the days following Jerome Powell’s speech last Friday. Investors sense that central banks are near the end of interest rate hikes and so are buying more stocks. The […]
Markets across the board rallied on Tuesday, and not just equities. It was rare for oil and cryptos to rally in synch with stocks. A wave of green hit traders’ screens as all sectors rose in Toronto, led by consumer […]
The trading week began on a positive note as stocks rallied across the board in Toronto and New York. Despite typically quiet late-summer volumes, the TSX advanced nearly 1% to return past 20,000. All sectors but staples climbed, led by […]
U.S. Fed Chair, Jerome Powell, delivered his much-anticipated speech in Jackson Hole, Wyoming Friday morning. Markets rose before his comments, which many deemed mildly hawkish or neutral. Essentially, Powell said he will continue to rely on inflation data in determining […]
AI leader Nvidia reported a blow-out quarter late Wednesday, but a bearish market limited its Thursday gains to only 0.59%. Markets continued to their August sell-off with Wall Street waiting for U.S. Fed’s Jerome Powell’s Jackson Hole speech on Friday. […]
Markets rallied nearly across the board Wednesday as the bulls roared back after recent selling. Except for energy, all sectors on the TSX climbed, led by consumer staples, materials and real estate. The TSX gained nearly 1% to approach 20,000. […]
Tuesday saw typically light late-summer trading, but also typical August weakness as the major indices continued to fade. There were few dramatic moves, but the TSX surrendered 0.47% to stay well below 20,000. Materials were the only sector to show […]
The trading week began with typically low summer volumes, but tech rebounded as the Nasdaq rallied 1.56%. It was helped by Palo Alto Network whose shares soared 14.62% after topping estimates in its latest report (released last Friday afternoon). The […]
The trading week ended with markets in Toronto and New York flat, but down for the week, largely pressured fears of future interest rate hikes and concerns over weakness in China’s economy. The TSX added 0.13% but slipped 2.5% over […]
On Thursday, the U.S. 10-year yield continued to rise, touching 4.278% by the close, based on fears that the U.S. Fed will hike interest rates again. American markets sank across most sectors as the S&P finished -0.77%, the Nasdaq -1.17%, […]
Wednesday saw the release of the minutes taken at the U.S. Fed’s last meeting which showed that the American central bank is willing to keep raising rates to fight inflation. Their hawkish tone wasn’t entirely a surprise, but the news […]
Stocks on Tuesday sold across the board, triggered by downbeat economic news in Canada and China. The TSX sank nearly 2% to below 20,000 after the latest inflation read came in at 3.3% instead of the expected 3%. Bay Street […]
Monday markets lacked any true direction, except in steel. A bidding war erupted for U.S. Steel whose shares skyrocketed 36.8% as it rejected a big from Cleveland-Cliffs which itself jumped 8.78%. The spillover effect pushed Algoma Steel in Canada up […]
The week ended with the TSX rising 1.25%, including 0.32% on Friday. Most sectors were higher, led by materials, real estate and energy. In contrast, discretionary and utilities lagged. Energy names were the most popular stocks, with Enbridge gaining 0.84%, […]
Thursday morning saw markets pop on the latest U.S. inflation data which came in at 3.2% YOY in July, slightly lower than the expected 3.3%. American stocks in particular cooled down as the session headed into the close, but finished […]
Wednesday saw crude oil’s ongoing rally lift the TSX 0.34% higher, helped by a strong showing in consumer staples, industrials and utilities, while discretionary names lagged. WTI jumped another 1.6% way past $84 a barrel. Major movers in Toronto included […]
On Tuesday, Moody’s downgraded several U.S. banks which pressured American stocks. The S&P closed -0.42%, the Nasdaq -0.79%, and the Dow -0.45%. Key movers included Eli Lilly which soared 14.87% after reporting. Elsewhere, AMD finished -3.06%, Zoetis 4.77% and Micron […]
