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Weekly Market Snapshot: Oil Tops $100, Tariffs Bite, and the TSX Whipsaws (Sept 8-11)

  Four trading days, three straight TSX losses, a $27.6-billion tariff package, and oil's first trip above $100/barrel since spring. Markets clawed back some ground Friday, but it was a rough week for Canadian portfolios. Here's what actually happened, and what's coming next. The week in one line: Escalating US-Iran conflict sent oil above $100/bbl, Canada's retaliation tariffs took effect Sept 8, and a four-day Wall Street losing streak snapped Friday on in-line US inflation data. 🇨🇦 Canada: TSX The S&P/TSX Composite fell in three of four sessions this week before a Friday bounce, ending down 2.2% from last Friday's close. Date Close Change Fri, Sept 4 (prior close) 36,513.80 — Tue, Sept 8 36,123.05 -1.07% Wed, Sept 9 35,907.00 -0.60% Thu, Sept 10 35,506.28 -1.11% Fri, Sept 11 35,697.49 +0.54% The Friday relief rally came as oil prices eased on hopes for Gulf diplomacy and August's US inflation print landed close to forecasts, letting Canadian banks (TD...
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Market Resilience Amid Rising Yields and Positive Earnings

 

In a display of resilience, the S&P 500 closed marginally higher after a session marked by volatility, as investors navigated the dual forces of climbing Treasury yields and encouraging corporate earnings, particularly from tech behemoths.

  • Treasury Yields Climb: An auction of $70 billion in five-year U.S. Treasury notes drove yields higher, influencing equity markets. The 10-year Treasury note rose to 4.6459%.
  • Tech Giants’ Earnings: Investors’ attention was captured by earnings reports from major technology companies. Meta Platforms saw a dip in after-hours trading, while Microsoft and Alphabet are poised to report later in the week.
  • Tesla’s Surge: Tesla’s stock leapt by 12% as plans to increase production and introduce more affordable models outweighed its weaker quarterly results.
  • Economic Indicators Awaited: Markets are now looking ahead to the first quarter GDP data and March’s personal consumption expenditures, which could signal the Fed’s interest rate trajectory.

Investors remain cautious yet optimistic as they parse through the latest financial data, seeking signs of stability in a fluctuating economic landscape.

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