Earlier this year Energy was one of the better-performing sectors, rising 17% from January to April. Fast forward to the middle of September, and Energy had the worst one-year performance (-4.59%), hampered by weakening demand and potential increased output from OPEC+. Wall Street sentiment can change in an instant though. Energy stocks got a big […]
24
Sep
Sep
The U.S. Federal Reserve made a big splash, announcing an oversized interest rate cut; a move that is expected to have a big impact on U.S. and Canadian financial markets. Over the last 14 months, the Fed held its key lending rate at a two-decade high of between 5.25% and 5.50%. But with inflation winding […]
17
Sep
Sep
September is living up to its reputation as being one of the worst months for the stock market. After a volatile start to August, which saw the S&P 500 and TSX both tumble more than 5%, North American stocks experienced another big drop in early September after U.S. core inflationary data came in higher than […]
10
Sep
Sep
The Bank of Canada cut its overnight lending rate, which impacts interest rates charged for mortgages and other loans, for the third time, bringing interest rates down to 4.25%. The 25-basis-point cut was widely expected by Bay Street and follows similar cuts in June and July. The September 5 interest rate cut represents the third […]
03
Sep
Sep
For much of 2023, the TSX traded in a tight range, but the U.S. Federal Reserve announced in early November that it was done raising interest rates and would pivot to cutting rates. While the Fed hasn’t announced any rate cuts just yet, investor optimism has sent the TSX steadily higher since then. How Are […]
30
Jul
Jul
In late July, the Bank of Canada announced that it was cutting its key policy interest rate for a second straight time and hinted that more cuts were coming should inflation continue to edge lower. The central bank reduced its overnight lending rate target by 25 basis points to 4.50%, taking it down to levels […]
24
Jul
Jul
Last year was supposed to be a difficult one for stocks. It wasn’t. In 2023, the S&P 500 rallied an impressive 24%, the Nasdaq surged 43%, while the TSX registered a return of 8.12%. Heading into 2024, analysts continue to be cautious predicting 5% to 10% gains for the S&P 500. How Will Stocks Perform […]
16
Jul
Jul
U.S. stock markets ripped higher after U.S. inflationary data cooled in June fanning the flames of an interest rate cut in September. The core consumer price index (CPI), which excludes volatile food and energy costs, climbed 0.1% from May. That’s the smallest increase since August 2021. On an annual basis, core inflation was up 3.3%, […]
09
Jul
Jul
In early June, the Bank of Canada cut interest rates for the first time since March 2020. The central bank cut its key overnight lending rate by 25 basis points to 4.75%. The big question is when the next interest rate cut will come. Will the Bank of Canada Cut Rates Again in July? At […]
25
Jun
Jun
After a year in which the Canadian economy experienced virtually no growth, the economy performed better than expected in the first quarter of 2024, with real gross domestic product (GDP) advancing 1.7% on an annual basis. That’s slower than the median forecast of 2.2% and below the Bank of Canada’s forecast of 2.8%, but it’s […]
