Skip to main content

Featured

Dow Edges Up as Tech Stumbles and Oil Prices Break $100

  Markets saw a mixed performance today as the Dow managed a modest rise while the S&P 500 and Nasdaq slipped, pressured largely by weakness in chip stocks and a surge in crude oil prices above $100.   Market Overview Dow Jones Industrial Average: Posted a slight gain of +0.11% , supported by select blue‑chip strength.  S&P 500: Fell 0.39% , reflecting broader market caution amid rising energy costs.  Nasdaq Composite: Dropped 0.73% , weighed down by chipmakers and tech giants facing renewed selling pressure.  Key Drivers Chip Stocks Slide Semiconductor shares were among the hardest hit, contributing significantly to the Nasdaq’s decline. Concerns around demand and sector volatility continued to pressure valuations.  Oil Surges Above $100 U.S. crude oil prices climbed past the $100 mark, intensifying inflation worries and adding strain to consumer‑sensitive sectors. This spike also influenced investor sentiment across equities.  ...
Post a Comment
Read more

article

Labels

Canadian Stocks Edge Higher, U.S. Markets Slip on Last Trading Day of 2023

 

Canadian stocks closed slightly higher on Friday, the last trading day of 2023, as gains in the industrials and utilities sectors offset losses in the energy and materials sectors. The S&P/TSX composite index rose 29.06 points, or 0.14%, to end at 20,958.44, capping off a year of strong performance amid the recovery from the pandemic.

Meanwhile, U.S. markets dipped as investors took profits and weighed the impact of the Omicron variant on the economic outlook. The Dow Jones industrial average fell 20.56 points, or 0.05%, to 37,689.54, while the S&P 500 index dropped 13.52 points, or 0.28%, to 4,769.83. The Nasdaq composite index, which is heavily weighted with technology stocks, declined 83.78 points, or 0.56%, to 15,011.35.

The Canadian dollar traded lower against its U.S. counterpart, as the greenback strengthened on the back of higher Treasury yields. The loonie was down 0.08 cents at 75.61 cents US.

In commodities, oil prices edged lower as the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to stick to their plan of gradually increasing output in January, despite concerns over the demand outlook. The February crude oil contract was down 12 cents at US$71.65 per barrel. Natural gas prices also slipped, with the February natural gas contract down four cents at US$2.51 per mmBTU.

Gold prices fell as the appetite for safe-haven assets waned, while copper prices also dropped amid a stronger U.S. dollar. The February gold contract was down US$11.70 at US$2,071.80 an ounce and the March copper contract was down three cents at US$3.89 a pound.

Labels:

Comments

Post a Comment