After the close with Allan
Tuesday played out like Monday’s session as more talk of a 2023 recession pushed stocks down across the board. American CEOs, particularly the major banks, predicted a recession of varying severity, which made an already-nervous market more anxious. All sectors […]
Monday saw recessionary fears sink markets. Meanwhile, OPEC+ announced it will maintain current oil output levels. Energy took a beating on Bay Street as the worst-performing sector. The TSX sank 1.25% and saw only utilities and telcos gain any ground. […]
The week ended on higher-than-expected employment numbers out of the U.S. which triggered a sell-off early Friday, but mostly recovered by the close. The S&P finished the session -0.12%, but advanced 1.66% for the week, the Nasdaq was -0.18%, but […]
Thursday saw markets swing between green and red, a day after the U.S. Fed’s comments that it would temper its interest rate hikes. Earnings, good and bad, dominated in the indices. In Canada, the TSX climbed 0.35% with all but […]
Markets, particular in the U.S., were treading water this week until the U.S. Fed’s Jay Powell made his latest comments Wednesday afternoon, signalling a moderation in interest rate hikes. Specifically, he suggested the Fed will “downshift” to a 0.5% hike […]
A modest recovery in crude oil prices helped lift the TSX by 0.3% Tuesday though sectors were mixed between red and green. Materials as well as energy rallied while consumer staples lagged. Major movers included Teck Resources jumping 7.77%, Barrick […]
Beijing’s strict zero-Covid policy is triggering demonstrations in China and worrying investors on this side of the world. Though relatively low compared to other countries, China’s Covid cases are rising (unsurprising given the colder weather) and prompting that authoritarian government […]
Volumes were predictably light as Wall Street traded for only half of Black Friday while the TSX rose modestly. Toronto advanced 0.2%, led by consumer staples, real estate and utilities while materials lagged. Most sectors were in the green. Notable […]
With the American markets closed for their Thanksgiving, the TSX advanced 0.3% in light trading. Most sectors were positive, except for mild declines in consumer staples and utilities. Materials and real estate led the gainers. Making moves were Corus Entertainment, […]
On Wednesday, Wall Street rallied before the American Thanksgiving break while rising supplies pressured crude oil prices. With ten of 11 sectors up, the S&P closed 0.59% to stay above 4,000, the Nasdaq added nearly 1%, and the Dow climbed […]
Markets across the board rebounded on Tuesday and closed on strength, mere days before the U.S. Thanksgiving break. The TSX returned to 20,000 territory by advancing 1.22%. Apart from weakness in health care and flatness in telcos, all the Toronto […]
Monday saw markets, particularly in the U.S., lose some ground as the November rally paused. The TSX declined only 0.14%, dragged down by energy, but lifted by most sectors starting with consumer staples. Manulife was the most active stock, shedding […]
Markets ended the week mildly down, but slightly up on Friday. Though the Nasdaq was flat for the session, the major indices on Bay and Wall Streets rose half a percent. Losses earlier in the week dragged the Nasdaq down […]
On Thursday, hawkish comments by regional members of the U.S. Fed threw cold water on the markets. Though stocks closed the session on strength, the S&P finished -0.3%, the Nasdaq -0.35%, though the Dow broke even by shedding six points. […]
Wednesday saw a mostly down day in trading, highlighted by American retail stocks. In particular, Target sank over 13% after warning of soft holiday sales ahead. The retail chain helped drag the S&P down by 0.83% below 4,000, the Dow […]
Tuesday saw the U.S. producers’ inflation numbers lower than expected and lower in recent months, which triggered a wide rally. Though stocks finished off their session highs, the S&P still advanced 0.87%, just shy of 4,000, the Nasdaq 1.45%, and […]
Last week’s rally paused on Monday as a see-saw session ended on weakness. The TSX returned below 20,000 by shedding 0.56%. Most sectors were down, particularly real estate and utilities while only telcos and materials were up. Notable movers included […]
Friday extended gains from the day before and the major indices rose for the week. The focus was on the U.S. where lighter than expected CPI data triggered a major rally while signs of China loosening its zero-Covid policy and […]
On Thursday morning, U.S. CPI data came in slightly lighter than expected, but triggered a sharp rebound in stocks across the board. Volumes were higher than usual and the session closed on strength. The S&P vaulted 5.53% to nearly 4,000, […]
The meltdown in cryptos continued on Wednesday as Binance backed out of its FTX bail-out. Investors and speculators sold their crypto positions hard with Bitcoin tanking 13.77% to fall below $16,000. Crypto’s tailspin overshadowed the sell-off in stocks a day […]
Stocks took a backseat Tuesday as troubles in cryptos saw a sharp sell-off. Bitcoin sank 11% to nearly $18,000 as the financial health of the FTX crypto exchange was questioned. Meanwhile, a German watchdog censured Coinbase over its structure. Shares […]
On Monday, Wall Street ignored ongoing volatility and pinned its hopes on a mixed outcome in Tuesday’s U.S. Midterm Elections. Backed up by history, the midterms would result in the Republicans regaining enough power in Washington to limit the Democrats’ […]
The TSX advanced 1% on Friday and closed the week a few points higher while the American indices rallied 1.3% to offset losses for the week. The Nasdaq shed 6% over the past five sessions while the S&P slid nearly […]
Thursday saw the Canadian market flat with the TSX gaining seven points while Wall Street continued to sell off a day after the U.S. Fed made hawkish comments about the trajectory of interest rates. The TSX was mixed with energy […]
As expected Wednesday, the U.S. Fed Chair, Jay Powell, raised interest rates by 75 basis points, but stocks plunged after he said that rates will climb higher than expected in order to combat inflation. With red rippling across the trading […]
