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Fed Decision Day: Oil Tops $108, Bond Yields Hit a 19-Year High — What It Means for Your Money

  All eyes are on Washington today. The Federal Reserve wraps up its two-day policy meeting this afternoon, and markets are pricing in roughly a 90–93% chance of a 25-basis-point hike — what would be the first rate increase of this cycle, as energy-driven inflation forces central banks around the world to reverse course. It comes after a rough session on both sides of the border: the TSX slipped to a one-week low, Wall Street logged its sixth decline in seven sessions, and the 10-year U.S. Treasury yield touched 5.04% — its highest level since 2007 — as oil held near four-month highs above $107 a barrel. Here's what moved markets overnight, and what today's decision could mean for your mortgage, your grocery bill, and your portfolio. 🇨🇦 TSX: Second Straight Decline The S&P/TSX Composite closed Tuesday at 35,582.07 , down 120.46 points (-0.34%) — its second straight losing session and lowest close in about a week. Energy was the lone bright spot as crude prices surged,...
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S&P/TSX Composite Hits New Highs: Canadian and U.S. Markets Rally



On March 21, 2024, the S&P/TSX composite index achieved a remarkable milestone, closing atnew all-time high. Simultaneously, U.S. markets continued their upward trajectory, setting records of their own.

Key Highlights:

  1. Canadian Market Surge:

    • The S&P/TSX composite index gained 41.55 points, reaching 22,087.26. This surpasses its previous record of 22,087.22 set in March 2022.
    • Tech and financial stocks played a pivotal role in driving this surge, reflecting investor confidence in these sectors.

  2. U.S. Market Momentum:

    • Across the border, U.S. markets also soared:
      • The Dow Jones industrial average climbed 306.46 points, closing at 39,818.59.
      • The S&P 500 index rose by 30.20 points, reaching 5,254.82.
      • The Nasdaq composite surged 97.44 points, closing at 16,466.85.

  3. Commodity Prices:

    • The Canadian dollar traded at 73.93 cents US, slightly higher than the previous day.
    • Crude oil experienced a dip, with the May contract down 91 cents at US$80.36 per barrel.
    • Natural gas also declined, with the May contract down four cents at US$1.81 per mmBTU.
    • Gold bucked the trend, rising by US$17.40 to US$2,178.40 per ounce.
    • Copper remained stable, down just a penny at US$4.05 per pound.

In summary, both Canadian and U.S. markets are riding high, fueled by optimism and robust economic indicators. Investors are closely monitoring developments as we navigate these record-breaking times.

Disclaimer: The information provided is for informational purposes only and does not constitute financial advice. Always consult with a qualified professional before making investment decisions.

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