The performance of Canada’s main index, the TSX, and its U.S. counterparts, the S&P 500 and Nasdaq, has taken Bay Street and Wall Street by surprise. After a robust 2023, in which the TSX rallied 8.1%, the S&P 500 grew 24.2%, and the Nasdaq advanced an impressive 43.4%, the outlook for 2024 was positive, but […]
Tag Archives: stock market
14
May
May
When the economy is booming, it’s not uncommon, or always newsworthy, if the stock market hits a new record high. In fact, there are times when the S&P 500 seems to hit a new record high every few weeks. But in this economic climate, one plagued by stubbornly high inflation, interest rates at decade highs, […]
19
Feb
Feb
The TSX, Canada’s main stock market index, is made up of some of the largest companies in the country, so it’s natural to expect the performance of the TSX to track Canada’s economic growth. That’s why investors pay close attention to economic gages like gross domestic product (GDP), inflation, employment levels, consumer spending, and the […]
08
Nov
Nov
Halloween may be over but that doesn’t mean it isn’t still scary on Bay Street and Wall Street. On July 27 the S&P 500 hit a 52-week high of 4,240, putting it up 19.5% year-to-date. The big moves defied logic, with inflation stubbornly high and interest rates still on the rise. But then stocks started […]
17
Oct
Oct
Bank of Canada Governor Tiff Macklem said that the central bank’s aggressive interest rate policy is working at bringing down inflation. After raising its key lending rate 10 times since the start of 2022, from 0.25% to 5.0%, Canada’s inflation rate has retraced from a 39-year high of 8.1% in June 2022 to 4.0% today. […]
19
May
May
Statistics Canada surprised the markets when it announced that the country’s inflation rate rose unexpectedly in April to 4.4%. After cooling in March to 4.3%, economists were expecting the inflation rate to continue decelerating to 4.1%. This represents the first increasing in inflation since June 2022, when Canada’s inflation rate hit a more than 40-year […]
17
May
May
The Canadian dollar is taking a hit against the U.S. dollar, after positing its biggest decline since March. The Canadian dollar, which is trading at $1.33 compared to the U.S. greenback is down 0.8% over the last few trading days and has lost 3.7% of its value over the last year. The Canadian dollar is […]
09
May
May
The U.S. Federal Reserve continued its inflation fighting ways on May 3 after it lifted its key lending rate by 25 basis points from a target range of 5.00% to 5.25%. This represents the 10th straight interest rate hike and the highest level since the autumn of 2007. Since it started raising interest rates in […]
02
May
May
First quarter earnings season has begun and the outlook for Canadian stocks is muted, with analysts lowering their first quarter earnings estimates more than average for S&P/TSX Composite companies. First quarter estimated earnings, on a per share basis, decreased by 8.9% from December 31 to March 31. This decline is far larger than the five-year […]
25
Apr
Apr
Statistics Canada announced that Canada’s inflation rate fell to 4.3% in March from 5.2% in February—the slowest pace since August 2021. Any deceleration in inflation is welcome, but the 4.3% rate is still more than double the Bank of Canada’s two percent target. On a month-over-month basis, the consumer price index (CPI) was up 0.5% […]
