After the close with Allan
The Bank of Canada announced Wednesday that it will hold its lending rate at 4.5%. The TSX rose modestly on the news, finishing 0.35% higher. Tech and industrials led while financials were flat. Making outsized movers were ECN Capital soaring […]
The U.S. Fed’s Jerome Powell announced Tuesday that he was willing to hike interest rates longer and deeper if necessary to tame inflation. it was no surprise when Powell said that economic data would inform his decisions going forward, but […]
Stocks edged up or down moderately to start the trading weak, not establishing a firm direction, Inching up by a few points was the S&P to stay above 4,000, as did the Dow, while the Nasdaq dipped into the red […]
A choppy week that saw strong sell-offs ended with a convincing rally to push all the major averages in o the green for the week. The averages on Bay and Wall streets all gained around 1.5% for the week. Optimism […]
Thursday saw a bifurcated session with stocks dipping into the red in the first half before climbing into the green in the second even as yields rose. The U.S. 10-year inched up to 4.066% as the S&P closed 0.76%, the […]
Earnings ruled headlines on Bay Street Wednesday, but the TSX struggled for direction and closed only 0.22% higher. Energy was the strongest sector while financials were the weakest, weighed down by Royal. Canada’s largest bank reported a disappointing quarter and […]
Tuesday’s session found the market unsure what direction to take and ultimately ended fairly flat. On Wall Street, the S&P closed -0.16% to remain below 4,000 and -2.61% for the month, the Nasdaq up eight points but -1.11% for February, […]
Call it modest Monday as stocks on both sides of the border partially recovered last Friday’s sharp losses. Toronto squeezed out a 0.2% gain though sectors were mixed. Materials and industrials rallied, but staples fell. Among the key movers were […]
While the TSX was more or less flat to end the week, stocks sank sharply on Wall Street after U.S. inflation in January came in higher than the street expected. The TSX was down 1.8% for the week, and most […]
The TSX was flat on Thursday as sectors were mixed. Energy led with WTI and WCS gaining over $1.50 per barrel to reach $75.50 and and $58.50 respectively. Earnings season continued. Major movers were Bausch Health soaring 13.8% after a […]
Wednesday afternoon saw the anticipated release of the minutes from the last U.S. Fed Bank meeting, and fears of bearish sentiment. In fact, there was little in the minutes that surprised the street: rate hikes will continue, but likely at […]
The shortened trading week Tuesday saw stocks sink across the board as U.S. yields surged. The U.S. 10-year flirted with 4% as the S&P and Dow both lost 2%. The S&P fell below 4,000. Meanwhile, the Nasdaq slumped 2.5% and […]
The week ended on a mixed note with oil slumping across the board as reserves rose, Bitcoin jumping, but stocks ending moderately down for the day and week. In Toronto, the TSX closed Friday as well as the week -0.44%. […]
January’s U.S. producer’s inflation numbers came in higher than expected, pressuring stocks across many sectors on Thursday. The sell-off was pronounced in the final hour of trading. The S&P closed -1.38%, the Nasdaq -1.78% to fall below 12,000, and the […]
Wednesday started with better-than-expected U.S. retail numbers, reflecting a resilient American consumer, but hinting at more interest rate hikes. Markets hovered around the flatline for most of the session, and the TSX closed only 0.08% higher. Most Canadian sectors were […]
Tuesday saw markets swing throughout the session driven by the latest U.S. inflation data. Inflation came in slightly higher than expected but still much lower than the mid-2022 peak. The S&P closed 0.15%, the Nasdaq 0.72% and the Dow -0.29%. […]
Monday saw markets on both sides of the border rally after last week’s sell-off. The TSX added 0.46% as all but two sectors rallied. Consumer staples and discretionary led while materials lagged. Notable movers included Russel Metals jumping 6.23%, Capstone […]
Earnings and lingering hawkish sentiment from the U.S. ended the trading week on a mixed note. The TSX was essentially flat on Friday, adding 14 points and rising 0.23% for the week. Sectors were mixed with staples and energy leading, […]
Stocks on both sides of the border lost altitude Thursday after hawkish comments made by carious U.S. Fed officials, warning that more interest rate hikes are likely to continue and could remain elevated for a while. Green turned into red […]
Markets sank Wednesday on fears that the U.S. Fed will continue to hike rates and on negative news from key companies. Alphabet shares tanked around 7.68% (A class) after Google’s new AI demonstration suffered a glitch that left the street […]
The Bank of Canada and the U.S. fed issued statements on Tuesday about the direction of interest rates which moved the needle on Bay and Wall streets. The BOC Governor, Tiff Macklem, offered to pause rate hikes to protect the […]
The bears creeped back into the market Monday ahead of U.S. Fed Jerome Powell’s comments on Tuesday. Last Friday’s historically low unemployment numbers are rattling Wall Street and it fears Powell will issue hawkish sentiments. The S&P closed -0.6%%, the […]
The TSX closed Friday up 18 points and 0.7% for the week. Staples and energy rallied even though WTI oil declined 3.5% to $73 and WCS fell 4% below $51. Major movers included Canada Goose which soared 14.64% after diving […]
Thursday saw the optimism triggered by the U.S. Fed’s comments the day before continue to lift stocks, especially tech. That sentiment coincided with Meta announcing its latest quarter late Wednesday. Meta soared over 23% on a strong beat, the S&P closed […]
Wednesday saw one of the busiest sessions of 2023 so far. Markets were trending down until the U.S. Fed’s Jay Powell announced a predicted 25-basis point hike in interest rates. However, American shares took off after his comments which the […]
