The stock market sold off yesterday, derailing a four day run up as investors worried that the recession was deepening after a fresh wave of bleak labor market and housing data was released yesterday morning.
Canada did hold up better than the United States but the majority of shares were in the red.
Government reports [...]

What a difference a couple of winning days makes in lifting investor optimism.
The Toronto Stock Exchange Index rose 1.67% yesterday, led by the heavily weighted financial sector, on hopes that the multibillion dollar stimulus package unveiled in Tuesday’s Canadian budget and further U.S. government action will promote economic stability in Canada and around the world.
The [...]

There is a lot of news and I can’t do it all justice but: 1) Canada spending big time in the budget; 2) corporate earnings are bad but not as bad as investors thought (in general); 3) the U.S. government is moving very quickly and differently under the new administration.
TSX finished more than 1% [...]

Today is budget day in Canada and the federal budget promises more political intrigue in the ‘soap opera’ unfolding in Ottawa. Harper has promised a six point economic action plan which will include job training, infrastructure spending and (likely) some assurance that Canadian banks will remain competitive with their global counterparts (who have been [...]

Toronto’s main stock index jumped 1.7% on Friday, led by strength in gold & oil prices, but the gains were held back by weakness in the rest of the stock market.
Gold rose to nearly $900 an ounce for the first time since October 10th which helped the materials sector gain 6.04%. The jump boosted Barrick [...]

The TSX Composite Index dropped more than 3% yesterday, driven lower by weakness in energy and financials. While more economic news reinforced a “sour” sentiment and the financial markets again appear to be on edge.
US Treasury Secretary nominee Timothy Geithner yesterday warned of stronger policies against China. This had adverse effects on Asian [...]

The TSX will likely open higher this morning and add to sharp gains recorded yesterday as oil prices continue to rise with the potential to support the resource heavy index. The sector is 22% of the overall index and was up 3% yesterday.
Oil has risen almost a dollar this morning to $44 [...]

The Toronto Stock Exchange (TSX) Index did not participate in the Obama mania yesterday. The index fell 3.8% as a “relentlessly” gloomy and deteriorating global economic outlook sparked a broad based sell-off for the stock market led by the influential energy and financial companies (although, I give a lot of credit to Canadian banks [...]

Barack Obama will be inaugurated as the 44th U.S. president today, inheriting the most severe economic crisis since Franklin D. Roosevelt was sworn in 76 years ago. The turmoil has dragged the world’s largest economies into a deep recession, caused more than $1 trillion of losses at financial institutions, corresponding recapitalization and privatization and prompting [...]

Another yo-yo session in major North American markets on Friday as stocks struggled to find direction, but by the end of the session, North American stock markets closed the day in the black. Strength in the energy sector and recession resistant companies led gains (McDonald’s). While some ‘words of comfort’ from Britain’s Barclays Bank [...]