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Market Updates

Up-to-the-minute insights
on developing market news

Entry archive:

The close: U.S. stocks sink on GDP, TSX boosted by energy stocks

OLIVER RENICK

Resource stocks led the Toronto Stock Market higher, but U.S. stocks sank, sending the S&P’s 500 Index to its biggest monthly decline in a year, as weaker-than-forecast economic growth overshadowed a rally in energy shares sparked by a surge in the price of crude.

The Dow Jones industrial average fell 251.9 points to 17,164.95, as Chevron Corp. fell after slashing its drilling budget. The S&P 500 declined 26.26 points to 1,994.99, extending its monthly loss to 3.1 per cent. The Nasdaq composite was off 48.17 points to 4,635.24, even as Amazon.com Inc. and Google Inc. surged.

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Calendar: What investors need to know for the week ahead

A daily rundown of the economic reports and corporate earnings that will be grabbing the market's attention in the week ahead.

Monday, Feb. 2

Manufacturing Purchasing Managers' Indexes to be released for Japan, euro area, U.K., and China.

(Date approximate) Conference Board's consumer confidence index for January.

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At midday: Stocks decline amid fresh economic concerns

CALLIE BOST AND OLIVER RENICK

North American stocks fell in midday trading Friday, with the Standard & Poor’s 500 Index heading for its biggest monthly decline in a year, amid concern over economies in Europe and Russia as data showed slower growth in America and Canada.

The Dow Jones industrial average fell 129.4 points to 17,287.41, as Chevron Corp. led losses after slashing its drilling budget. The S&P 500 edged down 15.34 points to 2,005.91. The Nasdaq composite was off 11.92 points to 4,671.49, even as Amazon.com Inc. and Google Inc. surged.

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At the open: Markets mixed after GDP report

CALLIE BOST AND JOSEPH CIOLLI

North American stock markets were mostly lower in early trading Friday amid concern over economies in Europe and Russia as data showed slower growth in America.

The Dow Jones industrial average fell 39.69 points to 17,377.16, the S&P 500 edged down 5.87 points to 2,015.38. The Nasdaq composite was the only gainer, up 9.57 points to 4,692.98, as tech stocks held their ground.

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Before the bell: Stocks sliding, loonie hits fresh lows

Darcy Keith

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

Markets are starting the day on a sour note, with U.S. stock futures down nearly 1 per cent and European equities mostly lower, as traders absorb readings on growth in both the Canadian and U.S. economies.

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Premarket: U.S. dollar set for record run, European shares rise

Jemima Kelly

The dollar was on track on Friday for its best run since it was floated in 1971, notching up a seventh straight month of gains, while European shares headed for their best monthly performance in more than three years.

Cheered by upbeat German retail sales, which posted their biggest annual rise in 2-1/2 years in December, the pan-European FTSEurofirst 300 index advanced on Friday, with Germany’s DAX index rising 0.6 per cent.

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The close: Markets rise as energy stocks rebound

MICHELLE F. DAVIS AND CALLIE BOST

North American markets advanced, following the Dow Jones industrial average’s biggest two-day slide in nearly a year, as earnings boosted consumer and materials shares.

Buying accelerated in afternoon trading as energy producers in the S&P’s 500 index reversed a 2 per cent slide after U.S. crude erased a decline. Boeing Co. and McDonald’s Corp. extended rallies to more than 5.1 per cent to pace gains among large stocks. Dow Chemical Co. climbed 4.6 per cent, the most in a year, as earnings topped estimates. Harman International Industries Inc. surged 24 per cent to the higher since 2005 after raising its forecast.

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At midday: Stocks fluctuate on earnings as energy shares slump

MICHELLE F. DAVIS AND CALLIE BOST

North American stocks fluctuated in midday trading, with the S&P’s 500 index heading for its biggest monthly drop in a year, as investors scrutinized earnings amid concern over the impact of plunging oil and energy companies slid for a third straight day.

In Toronto, the S&P/TSX composite index was down 34.95 points to 14,567.93 as resource stocks sold off while oil prices fell below the US$44 mark and miners fell heavily as copper prices plumbed six year lows.

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At the open: Markets fluctuate as earnings weigh on stocks

North American markets were mixed in early trading Thursday, with the S&P’s 500 index heading for its biggest monthly drop in a year, as U.S. jobless claims fell to a 15-year low and investors scrutinized earnings at companies from Coach Inc. to Qualcomm Inc.

In Toronto, the S&P/TSX composite index was down 12.51 points to 14,590.37 as investors evaluated earnings reports from Potash Corp. of Saskatchewan and Rogers Communications.

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Before the bell: Stocks up, earnings beats and misses

Darcy Keith

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

Stock futures are pointing to flat to slightly higher trading at today's open, in a session that will be very much dominated by reaction to an exceptional heavy slate of corporate earnings. S&P 500 futures were up nearly half a percentage point early this morning, but have since given back some of those gains. Crude oil is hovering just above the fresh six-year lows struck Wednesday, and the Canadian dollar is dipping even further below the 80 cents (U.S.) level.

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Premarket: Fed outlook and Greece worries hit world stocks

Nigel Stephenson

Stocks fell in Europe and Asia and the dollar strengthened on Thursday after the Federal Reserve took an upbeat view of the world’s largest economy and signalled it was on track to raise interest rates this year.

The stronger dollar helped push U.S. oil prices to six-year lows and weighed on the price of gold.

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The close: Stocks sink as energy slump, Fed overshadow Apple rally

MICHELLE F. DAVIS AND CALLIE BOST

North American stocks fell – with the Dow Jones industrial average suffering its biggest two-day loss in a year – as energy shares plunged and the U.S. Federal Reserve cited international risks to the American economy amid concerns about weakness in multinational earnings.

In New York, energy companies slumped 3.9 per cent as a group after oil retreated to below $45 (U.S.) a barrel. Apple Inc. climbed 5.7 per cent after reporting a record $18-billion (U.S.) in quarterly profit, one of the biggest in corporate history. Boeing Co. advanced 5.4 per cent as it posted a quarterly profit that beat analysts’ estimates.

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Stocks fall after Fed rate pledge, oil dives to six-year low

Michelle F. Davis and Callie Bost

U.S. stocks fell as declines in energy shares and speculation the Federal Reserve remains on course to raise borrowing costs this year overshadowed rallies in Apple Inc. and Boeing Co.

Energy companies slumped 3.5 percent as a group after oil retreated. Apple climbed 6.3 percent after reporting a record $18 billion in quarterly profit, one of the biggest in corporate history. Boeing Co. advanced 6.4 percent as it posted a quarterly profit that beat analysts’ estimates.

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At midday: Stocks fluctuate ahead of Fed meeting

Callie Bost and Michelle F. Davis

North American stocks fluctuated in midday trading Wednesday as declines in commodity shares offset a rally in Apple Inc. and Yahoo! Inc. before the U.S. Federal Reserve’s interest rate decision.

The TSX composite index was off 59.52 points to 14,774.36, pressured by resource stocks as oil and metal prices fell.

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Before the bell: Apple, Yahoo shares surge

Darcy Keith

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

Corporate news - especially on the earnings front - continues to dominate the market's attention this morning, with the tech-heavy Nasdaq set to open sharply higher after a blowout quarter from Apple and Yahoo's decision to spin-off its Alibaba Group stake.

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Premarket: Global stocks, U.S. dollar retreat before Fed statement

Marc Jones

Stocks and the dollar retrenched on Wednesday amid speculation the Federal Reserve will take a dovish turn in its post-meeting statement later in the day.

European shares gave back early gains, after stumbling for the first time in nine sessions on Tuesday, and after record profits for Apple and a surprise rate cut in Singapore had bolstered Asian markets.

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The close: Wall Street suffers triple-digit loss as earnings disappoint

Ryan Vlastelica

U.S. stocks closed more than 1 per cent lower on Tuesday, while the Toronto market was able to eke out a gain, as disappointing results from bellwether companies pointed to weakening conditions, while an unexpected decline in durable goods orders also weighed on sentiment.

The Dow Jones industrial average fell 291.49 points, or 1.65 per cent, to 17,387.21, the S&P 500 lost 27.54 points, or 1.34 per cent, to 2,029.55 and the Nasdaq composite dropped 90.27 points, or 1.89 per cent, to 4,681.50.

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At midday: Stocks tumble after weak earnings, durable goods

Caroline Valetkevitch

North America stocks tumbled Tuesday, with the Dow falling the most since October, as a drop in durable-goods orders and disappointing results from Caterpillar Inc. to Microsoft Corp. heightened concern about the economy’s strength.

The Dow Jones industrial average fell 357.3 points, or 1.8 per cent, at 17,321.42. The Standard & Poor’s 500 Index was down 29.83 points, or 1.5 per cent, at 2,027.26. The Nasdaq Composite Index was down 86.47 points, or 1.8 per cent, at 4,685.29.

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Before the bell: Stocks poised for heavy losses

Darcy Keith

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

A heavy slate of U.S. earnings reports should make for an active day of trading today, and the backdrop ahead of the opening bell isn't inspiring, with North American stock futures sliding ever further into the red. Dow futures are off by more than 1.5 per cent, weighed down by a 7 per cent premarket drop in shares of Microsoft, which is a component of the index. Meanwhile, a much-weaker-than-expected reading on December U.S. durable goods orders has added further pressure on global markets counting on robust growth in the American economy.

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Premarket: Mixed earnings, Greek jitters fuel market caution

Lionel Laurent

The euro rose and shares slipped in Europe on Tuesday as mixed corporate earnings and concerns over Greece kept investors cautious ahead of a busy week which will include the first policy meeting of the U.S. Federal Reserve this year.

Russian markets were also jittery after a cut to the country’s sovereign credit rating.

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The close: Stocks rise as energy shares gain

MICHELLE F. DAVIS

North American stock markets closed higher Monday as gains in energy companies overshadowed a drop in technology shares as investors considered the possible fallout from Greek elections.

The S&P/TSX composite index gained 18.48 points to 14,797.83. The Canadian dollar slipped 0.26 of a cent to 80.23 cents US.

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At midday: Markets waver amid Greek election, earnings reports

MICHELLE F. DAVIS AND INYOUNG HWANG

North American stocks fluctuated in trading Monday as gains in energy companies offset a drop in technology shares as investors considered the possible fallout from the Greek election.

Traders also were cautious ahead of a busy week for economic data and earnings news, including the U.S. Federal Reserve’s latest word on interest rates.

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At the open: Stocks fall after Greek vote

INYOUNG HWANG AND MICHELLE F. DAVIS

North American stocks fell in early trading Monday, as phone and utility companies dropped and investors considered the possible fallout from Greek elections.

The S&P/TSX composite index was down 71.71 points to 14,707.64.

The loonie declined 0.19 of a cent to 80.3 cents (U.S.).

In the U.S., the Dow Jones industrial average was off 90.61 points to 17,581.99, the S&P 500 fell 9.60 points to 2,042.22 and the Nasdaq dipped 20.11 points to 4,737.77.

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Monday’s analyst upgrades and downgrades

Luke Kawa

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.

Rogers Communications Inc. is set to report another “sluggish” set of quarterly results on Thursday, says Canaccord Genuity.

Analyst Dvai Ghose expects the telecom giant will see adjusted earnings before interest, taxes, depreciation, and amortization rise by just 1 per cent year-over-year, and that its net postpaid subscriber growth will pale in comparison to that of its major competitors.

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Before the bell: Stock futures wobbly, loonie weak

Darcy Keith

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

Stock futures are pointing to a flat start for the TSX and Wall Street when markets open this morning, with global traders keeping a watchful eye on Greece, where an anti-austerity party has come to power after a weekend election. Stock futures in both Canada and the U.S. were lower earlier this morning, but have since shed most of those losses.

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Premarket: European markets shake off Syriza win in Greece

Marius Zaharia LONDON

The euro and European shares and bonds shook off worries on Monday over Greek election winner Syriza’s pledge to take on international lenders, a strong sign of confidence in the ECB’s new money-printing programme.

Weakness in European shares lasted only for about two hours, although the main Athens index fell and Greek bond yields rose.

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Euro, stocks fall amid fresh concerns of instability in Europe

Hideyuki Sano

The euro skidded to an 11-year low and stock prices fell on Monday as Greece’s Syriza party promised to roll back austerity measures after sweeping to victory in a snap election, putting Athens on a collision course with international lenders.

The euro fell to an 11-year low of $1.1098 on the vote outcome, before recovering to $1.1171, still down 0.3 percent from last week.

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Calendar: What investors need to know for the week ahead

A daily rundown of the economic reports and corporate earnings that will be grabbing the market's attention in the week ahead.

MONDAY, Jan. 26

Japan releases December trade deficit and minutes from its last monetary policy meeting.

Germany Ifo survey.

(2 p.m. ET) U.S. Congressional Budget Office releases its economic outlook for 2015-2025.

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The close: Energy lifts TSX but earnings weigh on Wall Street

The Toronto stock market closed slightly higher Friday as consumer stocks advanced in the wake of a strong retail report and energy stocks climbed amid questions about whether the death of Saudi Arabia’s King Abdullah could mean a change in the amount of oil his country is producing.

The S&P/TSX composite index gained 15.37 points to 14,779.35, with the consumer staples section ahead 0.9 per cent as Statistics Canada reported retail sales rose 0.4 per cent to $43 billion in November. Economists had generally expected a decline.

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At midday: TSX rises as energy stocks gain

MALCOLM MORRISON

The Toronto stock market was higher Friday as consumer stocks advanced in the wake of a strong retail report, and energy stocks climbed amid questions about whether the death of Saudi Arabia’s King Abdullah could mean a change in the amount of oil his country is producing.

The S&P/TSX composite index ran ahead 55.88 points to 14,819.86 with the consumer staples section ahead 1.2 per cent as Statistics Canada reported retail sales rose 0.4 per cent to $43-billion in November. Economists had generally expected a decline.

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