Stocks Finish Winning Week

Equities in Toronto had the spotlight pretty much all to themselves Friday, as American markets retired early and allowed the focus to shift north of the border on real-estate and utility stocks.

The TSX Composite gained 39.7 points to end Friday and the week at 20,383.77. The index gained nearly 403 points, or 2,02% for the week, and was trading above the 200-day moving average.

However, on a year-to-date basis, the index is still down more than 3.7% as investors fear aggressive policy tightening by central banks could trigger a global economic downturn.

The Canadian dollar slid 0.02 cents to 74.78 cents U.S.

Among utilities, the strongest sector on the day, Capital Power advanced 84 cents, or 1.9%, to $45.24, while Emera jumped a dollar, or 1.9%, to $52.62.

In the real-estate sector, units of Dream Industrial REIT gained 24 cents, or 2%, to $12.31, while Allied Properties REIT took … Read more

Banks’ Quarterly Numbers in Focus Next Week

Monday

U.S.

Featured Earnings

H World Group Limited (NASDAQ:HTHT) (Q3) EPS estimates for loss of five cents, compared to loss of seven cents in the prior-year quarter.

Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) (Q4) EPS estimates for loss of 56 cents, compared to loss of 61 cents in the prior-year quarter.

The AZEK Company Inc. (NYSE:AZEK) (Q4) EPS estimates for 14 cents, compared to 31 cents in the prior-year quarter.

Canada

Featured Earnings

New Found Gold Corp. (T.NFG) (Q3) EPS estimates for loss of one cent, compared to loss of 15 cents in the prior-year quarter.

Think Research Corporation (T.THNK) (Q4) EPS estimates for loss of 11.5 cents, compared to a loss of 13 cents in the prior-year quarter.

Xortx Therapeutics Inc. (T.XRTX) (Q3) EPS estimates for loss of 23 cents, compared to loss of 12 cents the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

S&P Case-Shiller U.S. home price index (Sept.)

FHFA … Read more

TSX Finishes with Respectable Gains

Equities in Canada’s largest centre hit highs dating back over five months on Thursday, supported by technology, materials and financial stocks as well as optimism that the U.S. Federal Reserve would flatten its monetary tightening trajectory.

The TSX Composite gained 61.81 points to conclude Thursday at 20,344.07.

The Canadian dollar nosed up 0.08 cents to 74.97 cents U.S.

Materials proved the biggest gainers, with Lithium Americas jumping 63 cents, or 1.8%, to $35.93.

Real-estate fared well, as units of Allied Properties REIT soared 77 cents, or 3%, to $26.91, while Northwest Health-Care Properties REIT advanced 23 cents, or 2.3%, to $10.42.

In techs, Sylogist took on 39 cents, or 8.1%, to $5.20, while Quarterhill picked up five cents, or 3.2%, to $1.63.

Consumer staples stepped back, however, as Metro lost 65 cents to $77.10, while George Weston dipped 73 cents to $165.17.

In utilities, Fortis retreated 46 cents to $53.37, … Read more

Fed Minutes Show Rate Hikes Slowing Down, Indexes Climb

U.S. stocks rose Wednesday as meeting minutes from the Federal Reserve showed that the central bank is looking to hand out smaller rate hikes in the coming months as inflation cools off.

The Dow Jones Industrials jumped 95.96 points to end Wednesday at 34,194.06

The S&P 500 added 23.68 points to 4,027.26.

The NASDAQ roared ahead 110.91 points, or 1%, to 11,285.32.

Shares of Nordstrom fell 4.2% after the department store chain reaffirmed its forecast. However, Nordstrom beat profit and sales expectations in its latest results, according to consensus expectations on Refinitiv. Tesla rose 7.8% after Citi upgraded shares to neutral from sell. Deere surged more than 5% on an earnings beat.

Minutes from the Fed’s November meeting signaled that the central bank is seeing progress in its fight against high inflation and is looking to slow the pace of rate hikes, meaning smaller ones through the end of this … Read more

TSX Gains Friday, Weakens on Week

Equities in Toronto pushed sharply upward by Friday’s closing bell, with investors likely emitting a sigh of relief over inflation possibly slowing down.

The TSX Composite hiked 96.33 points to close Friday and the week at 19,980.91. On the last five session, the index dipped 130 points, or 0.65%.

The Canadian dollar shook off 0.3 cents to 74.76 cents U.S.

Among consumer stocks which starred, Gildan Activewear, up $1.19, or 3.2%, to $38.29, while BRP Inc. zoomed $1.67, or 1.8%, to $83.35.

In communications, BCE accelerated $1.45, or 2.3%, to $63.41, while Rogers registered a gain of $1.04, or 1.8%, to $59.64.

Industrials charged ahead, too, with GFL Environmental hiking $1.27, or 3.6%, to $37.07, while TFI International spiked $3.43, or 2.5%, to $140.01.

Health-care issues ducked back, primarily Canopy Growth, dumping 47 cents, or 8.6%, to $5.00, while Tilray skidded 25 cents, or 4.6%, to $5.16.

In techs, Softchoice … Read more