Stocks dropped, led by financial shares (down 7.5% in the United States), as investors expressed concern about a lack of specifics on plans for addressing the distressed assets choking banks’ balance sheets. Tim Geithner (the new Treasury Secretary) warned today that it will “take time” for the administration’s strategy to “bear fruit”.
The Treasury this [...]

Bay Street and Wall Street were relatively flat ahead of bank plan, stimulus to be announced today.
The TSX was up about half a percent after another yo-yo day. Nervous investors awaited news of the government’s bank rescue plan after its announcement by Treasury Secretary Timothy Geithner was postponed by one day until [...]

Stocks headed for a lower open today as a delay in the announcement of the Obama administration’s bank rescue plan disappointed investors and another wave of poor corporate earnings showed more economic troubles. Although, don’t be shocked if things end up and or down (things have been very yo-yo like in the past).
Adding to [...]

Lots on the go!
Toronto’s main stock index the S&P/TSX Composite index closed higher for a 4th straight session on Friday in a broad based rally as dismal U.S. jobs data fueled hopes (or justified the need) for a U.S. stimulus package to help combat the recession.
The index finished the week up 3.6%, rising for a [...]

Good Morning,
The recession hit home in Canada! Last month, a massive 129,000 workers joined the ranks of the unemployed and the country’s jobless rate surged to 7.2% (job losses were expected to be 40K not 129K). The unemployment rate jumped to 7.2% from 6.6% as a total of 1,310,100 Canadians are currently unemployed. [...]

The TSX bucked the trend yesterday and Toronto’s main stock index rose for a 2nd day yesterday as mining shares were boosted by a rise in underlying commodity prices. Weakness in financials kept the gains in check and off their intra day highs.
The resource heavy materials sector led the gain with a 3.9% rise, [...]

The Canadian Budget passed yesterday with the help of the Liberals thus, the coalition has fallen (or maybe it was just a conspiracy theory to get rid of Dion sooner versus later).
There was a rare glimmer of good news from the U.S. housing sector yesterday as the National Association of Realtors in the United States [...]

Yesterday there was a lot of grim economic news which weighed on the stock market. Toronto’s main stock index the S&P/TSX Composite index fell broadly by 0.81%, as commodity shares were pressured by lower oil & gold prices, while financials were hit by concerns about the weak global economy and the ailing U.S. banking [...]

Happy Ground Hog Day!
The TSX Composite Index (Canada’s main stock index) has experienced some headwinds as of late and will likely continue to face some headwinds as commodity prices continue to slip and concerns mount about the global economy and deteriorating corporate profits.
The S&P/TSX composite index fell 3.25% in January and corporate Canada will [...]