After the close with Allan
The bear market that has ravaged Toronto and especially New York since Jay Powell’s hawkish comments last Friday showed signs of fading Thursday as stocks climbed throughout the session to close positive as well as negative. The S&P finished 0.3%, […]
Stocks and oil continued to fall on Wednesday, but modestly compared to previous sessions. The major indices in Toronto and New York surrendered roughly half- to nearly a full percentage point during a typical light summer session. In Toronto, most […]
After seeing green at the start of Tuesday’s session, the major indices tumbled into the red and stayed there until the close. The bears continued to rule as the S&P closed -1.1%, the Nasdaq -1.12%, and the Dow -0.96%. It […]
The week began with the major indices adding to Friday’s losses, which were triggered by hawkish comments made about interest rates by U.S. Fed chief, Jay Powell. The sell-off Monday wasn’t a surprise, though the TSX nearly finished in the […]
The U.S. Fed’s Jay Powell spoke for six minutes on Friday morning and by the close the major American indices had plunged 3-4%. Powell said he would keep interest rates high to combat inflation, though didn’t put a number on […]
Thursday saw markets trading at low volumes but bullish ahead of the U.S. Fed’s Jay Powell delivering a keynote address that may hint at the next rate hike. With tech leading the charge, the S&P closed 1.41%, the Nasdaq 1.67%, […]
Stocks mildly rose on Wednesday to partially offset recent losses. A rise in commodity prices helped lift the TSX by 0.23% back into 20,000 territory. WTI rose 1.65% above $95 a barrel as energy as well as materials led Canadian […]
Relatively speaking, markets calmed down on Tuesday following Monday’s rout that saw sharp losses, particularly in tech. The S&P finished -0.22%, the Nasdaq was flat, and the Dow was -0.47%. Oil led gains as WTI continued to surge, rising 3.5% […]
The trading week began in the red as major averages in New York and Toronto sank into the red. Fears of the U.S. Fed’s Jay Powell announcing a hawkish interest rate hike later this year triggered a steep sell-off on […]
Hawkish signals from the U.S. Fed in recent days that it will hike interest rates pressured stocks on Friday. The S&P closed the session -1.29% and 1.2% for the week, the Nasdaq -2.% and -2.7% for the week, and the […]
It was a typically quiet summer session on Thursday which saw the major indices on Wall Street as well as the TSX climb modestly into the green. The S&P closed 0.24%, the Nasdaq 0.21%, and the Dow was flat. Crude […]
After several days of gains in Toronto and New York, markets on Wednesday struggled to extend their winning streak. The S&P closed -0.72%, the Nasdaq -1.25%, and the Dow -0.51%. Crude oil rose on signs of strong demand with WTI […]
Earnings by American retailers helped lift American stocks, while the TSX managed to gain despite the ongoing decline in crude oil prices. In New York, The S&P added 0.19% and the Dow 0.71% while the Nasdaq closed -0.19%. Noteable gainers […]
The week began with surprisingly weak economic data from China and an announcement to raise their interest rates which took many by surprise. Crude oil prices immediately sank with WTI falling 3.35% below $89 and WCS sliding 4% below $70. […]
Following lighter-than-expected inflation numbers earlier this week, U.S. consumer data released on Friday showed growing optimism. Though volumes were at typically quiet August levels, Wall and Bay street rallied and closed on strength during the session. The TSX added nearly […]
Oil rose Thursday after the IEA hiked its demand growth forecast for 2022. WTI added 2.4% to $94 while WCS jumped 3.5% to $74. Oil as well as consumer staples helped lift the TSX by 0.53% to close just shy […]
On Wednesday, July’s American inflation rate clocked in at 8.5%, lower than the expected 9.1%. The lower figure triggered a rally on both sides of the border and lifted all sectors. The S&P jumped 2.13%, the Dow 1.55% and the […]
Tuesday saw tech stocks on both sides of the border weigh on markets. The TSX retreated 0.46% due to weakness in consumer staples and tech, though materials and utilities were in the green. The latest earnings sank Nuvei by 21.44% […]
A surge in materials, real estate and utilities lifted the TSX Monday by 0.37%. Capstone Copper jumped 15.67%, but cannabis soared after a U.S. senator hinted at marijuana reforms that would make lending to such companies easier. As a result, […]
Friday saw the latest jobs numbers released in Canada and the U.S., but a mixed picture in stocks. Canada modestly lost jobs in July, and the TSX ticked down 0.09%, though gained 0.41% for the week despite weakness in crude […]
Thursday saw the price of crude oil continue to slide after OPEC announced a modest output increase. WTI fell below $90 (for the first time since Russia invaded Ukraine) to trade around $88.40. Meanwhile, WCS plunged 3.5% to $69. Naturally, […]
U.S. economic data on Wednesday triggered a convincing rally led by tech. The ISM Services PMI hit 56.7% in July in a surprise jump from June’s 55.3%, indicating that supply chain slowdowns are easing. Also, the St. Louis Fed said […]
Nancy Pelosi’s visit to Taiwan and China’s announcement of missile tests rattled markets on Tuesday and pressured stocks. The TSX shed nearly 1% and finished weak. Similarly in New York, the S&P closed -0.66%, the Nasdaq -0.16% and the Dow […]
With the TSX closed for the holidays, the American indices saw a choppy session to usher in August on Monday. The indices closed down by 0.14% to 0.28% with oil weighing down the most. Financials were also weak, though consumer […]
Friday saw stocks extend gains of recent days to end a positive week and month. The TSX rose 1.31% for the day or 3.7% for the week and slightly more in July. Meanwhile, the S&P closed on Friday up 1.42%, […]
