Here is this week’s market wrap up with the following highlights. The Dow Jones soared 500 points to a year-high, buoyed by hopes of easing inflation. November was stellar for stocks, with major indices up over 8%. In contrast......
If it feels like the November rally is running out of steam, you are probably right. We are at the tail end of earnings season (Canadian banks report next week) and in typical Wall Street fashion, those companies that missed on any metric were punished including the top tech darling Nvidia......
Well it happened a lot sooner than most bulls were hoping for but you cannot look a gift horse in the mouth. We are of course referring to the Zero change in topline US inflation in October, with the core rising just 0.2%. 10 year US Treasury bonds rallied nearly 2 points this week taking it down to 4.43% a level not seen since May.....
Markets continued to experience bifurcated action this week as the mega cap tech aka the magnificent 7 gained back most of what they lost in the third quarter. Too bad we cannot say the same thing for the bulk of the market. 14 of the Dow 30 stocks are negative this year led by Walgreens down 44%, 3M down 22% and Chevron off nearly 12%.....
Houston, we have a Rally. Stock Market's impressive ascent this week has caught our attention, so let’s have an In-depth look....
It seemed like the perfect storm for a mini sell off. Federal Reserve members took center stage on Thursday espousing a hawkish interest policy on the heels of escalating tensions in the Middle East. Meanwhile in Washington, it is an ongoing debacle of epic proportions....
We survived a bit of a wild ride this week as investors fretted over the terrorist attacks in Israel that could spiral into a bigger war if diplomats don’t contain the situation. To make matters more unsettled, the latest US inflation stats have left the door open for further interest rate hikes later this year...
Due to communication failure at CHEK TV Your Money Video is not available, but please see the attached blog.
Well the bears certainly won this month. Between a dawning realization the Federal Reserve plans to maintain higher interest rates for longer and a looming government shutdown affecting millions of federal employees, you cannot help but wonder what politicians are thinking. We know what investors are thinking…time to take some profits off the table….or is it?
Never underestimate the fickleness of Wall Street. The irrational exuberance that gripped Wall Street through the month of August courtesy of a developing bubble in everything AI (artificial intelligence) coupled with the hope of interest cuts in the 4th quarter, has given up the ghost. Not withstanding the historical, generally negative, performance of markets in September .....
We had a cornucopia of factors affecting markets this week. In no particular order, we believe investors reacted with mixed emotions over the auto strike, spiking inflation, rising oil prices, and slightly improving economic activity in China. In Canada we note the rally in bank stocks this week that got no love from earnings last month and pray it is not a dead cat bounce. Speaking of no love .....
Investors continue to fret over rising economic stats fearful it will lead to more rate hikes. Having said that, the BOC stood pat with promises of more rate hikes should inflation rise up again. We cannot help but think there is at least one more before year end and forget about cuts in the first quarter of 2024. Canadians were caught off-guard by the surprise 39900 new jobs in August with most of those positions in full time jobs. It certainly offset .....
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