After the close with Allan
It was a record-breaking Friday to end a record-breaking week. As positive earnings continued to flow through American and Canadian markets, Pfizer announced that it had produced a pill that effective treats Covid patients, following Merck’s footsteps earlier this fall […]
Thursday saw big moves in markets after the U.S. Fed announced its dovish plans the previous day, and the Bank of England announced it would essentially do nothing, which shocked the street which expected the BoE to hike interest rates. […]
U.S. Fed Chief, Jerome Powell, delivered dovish comments on Wednesday afternoon, announcing to no one’s surprise that the Fed will start tapering this month, but offered no signal about raising interest rates. American stocks had been treading water until the […]
The Dow 0.39%, the S&P 0.37% and the Nasdaq 0.34%. Notable gainers included Pfizer which jumped 4.15%, Cisco up 2.71%, chipmakers like Nvidia adding 1.92% and Under Armour soaring 16.47%. In contrast, Tesla slipped over 3%, Citigroup slid 1.45%, Visa […]
Markets laid down a royal flush Monday as the major indices in New York and Toronto all made record closes, driven by continued optimism, upbeat earnings and climbing oil prices. The TSX rose 0.91% to 21,228 as WTI crude climbed […]
October ended with record closes from the S&P, Down and Nasdaq which climbed 0.19%, 0.25% and 0.33% respectively. The S&P and Nasdaq enjoyed their best month since November 2020, while the S&P rallied 7% for October. Actually, the markets see-sawed […]
Upbeat earnings on both sides of the border lifted markets in Toronto and New York to nearly break all-time highs. The TSX rose 1.16% led by consumer staples, energy and industrials while materials was the only sector to dip into […]
On Wednesday, the Bank of Canada announced it was halting QE bond buying and signaled that higher interest rates were coming a little sooner than expected, though didn’t set a schedule. The move reflects the strength of the Canadian economy, […]
After rallying over the last two weeks, the TSX gave back 0.52%. Only financials gained as a component as staples and tech took it on the chin. Major movers to the downside included Shopify at -4.37%, lumber names like Interfor […]
The trading week began on a positive note as markets climbed Monday into the finish. Though crude oil faded into the close, the TSX finished 0.32% to a new closing high of 21,284. Energy and materials rallied as telcos lagged, […]
On the whole, the week was positive for stocks as the Dow made a record high Friday, rising 0.21% to 35,670. However, the S&P closed -0.11% and the Nasdaq -0.82%. Tech and industrials lagged, while energy and financials roared. Notable […]
After three days of rallying, markets were decidedly mixed on Thursday as soon assets made new highs, while others sank. To start, the S&P added 0.3% to close at a record high of 4,549 while the TSX made yet another […]
Positive earnings from the U.S. so far continued to lift markets on both sides of the border Wednesday. The TSX made another record close by advancing 0.48% to 21,188 while the S&P and Dow nearly made their own highs. The […]
For now at least, investors are shrugging off rises in the U.S. 10-year yield and buying tech stocks. On Tuesday, the yield jumped 2.3% to 1.641% while the tech-heavy Nasdaq ran up 0.71% to hover just 2% below its all-time […]
The TSX continued to ride momentum Monday as the Canadian index added 0.27% to make a record close of 20,985. Industrials and tech were up, though surprisingly energy names lagged as the price of WTI held steady though WCS surrendered […]
Stocks extended Thursday’s rally by gaining more ground on Friday. For now, at least, investors are calming down from the inflation hike and are accepting that the U.S. Fed will taper in November. The Dow added 1.19% to enjoy its […]
There was green everywhere on Thursday as stocks and oil rallied. Catalysts came from the U.S. where Citigroup (up 0.77%), Bank of America (1.93%) and Morgan Stanley (2.48%) topped quarterly earnings estimates. Meanwhile the latest unemployment claims there fell to […]
Lower-than-expected CPI data in the U.S. on Wednesday encouraged buying in New York and Toronto. While the Dow closed flat, the S&P added 0.3%, the Nasdaq 0.73% and the TSX even more at 0.89%. Moreover, the U.S. 10-year yield shed […]
It was a see-saw session Tuesday, though stocks faded into the close again. Losses were moderate, though, as the S&P closed -0.24%, the Nasdaq -0.14% and the Dow -0.34%. Notably, the U.S. 10 year yield retreated by 2% to 1.56%, […]
With Canadian markets closed for Thanksgiving, American markets started the week fading into the close. Neither the tech or cyclical trade showed much conviction as the S&P closed -0.69%, the Dow -0.72% and the Nasdaq -0.64%. The U.S. 10-year yield […]
The U.S. added fewer jobs last month than expected, but Wall Street overlooked that and continued to believe that the Fed will taper and raise interest rates sooner than later. Friday’s session was choppy and stocks faded into the close. […]
Washington will vote Thursday evening to extend the U.S. debt ceiling or borrowing limit to early December. Though President Biden said that the deal isn’t done, Wall Street was confident enough for the vote to pass to lift markets by […]
On Wednesday, the price of crude oil slid to ease inflation fears as Washington continued to settle the American debt ceiling crisis and Russia’s Putin stepped up to offer natural gas to ease the European energy crisis. All of these […]
Tuesday markets recovered some of the losses from Monday’s rout with the S&P and Dow both rising over 1.05% and the Nasdaq bouncing 1.25%. Tech, which suffered the deepest losses the day before, enjoyed some strong gains. Netflix surged 5.25% […]
The trading week began with tech stocks sliding, even though the U.S. 10-year yield held steady around 1.48%. While the Dow closed -0.94% and the S&P -1.39%, the Nasdaq plunged 2.14%. Adobe closed -3.29%, Apple -2.46%, Amazon -2.85% and Facebook […]
