S&P/TSX composite up nearly 375 points, U.S. stock markets mixed amid fresh earnings
BNN Bloomberg
Earnings results loomed large over the stock market on Thursday, with reports from Canada’s Big Six lenders and Nvidia.
“It’s been a trading day that’s really somewhat similar to some of the recent history in the markets,” said Steve Locke, chief investment officer for fixed income and multi-asset strategies at Mackenzie Investments.
The S&P/TSX composite index was up 374.63 points at 34,501.96.
In New York, the Dow Jones industrial average was up 17.05 points at 49,499.20. The S&P 500 index was down 37.27 points at 6,908.86, while the Nasdaq composite was down 273.70 points at 22,878.38.
He said markets have gotten used to U.S. market leadership, particularly among large-cap names.
“I think since around the mid-fourth quarter last year ... we’ve seen a real shift where a number of trends that had been in place for many years have started to shift given geopolitical influences, trade influences and I think increasingly flow of funds influences.”
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
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Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
As Qatar reels from an Iranian attack that has hobbled its giant natural gas company, its boss, who doubles as the country’s energy minister, says he had warned officials and executives of just such a danger should Iran’s own sites be hit.
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Dan Tobon outlines key market wildcards, including geopolitical risks, AI disruption and shifting investor sentiment.
U.S. stocks are sinking Friday as hopes wither on Wall Street for a possible cut to interest rates by the Federal Reserve this year because of the war with Iran.
Pinterest CEO Bill Ready called on world leaders to ban social media for youth under 16 in a LinkedIn post on Friday.