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TSX Surges to New Heights, Extending Winning Streak to Nine Days

The Toronto Stock Exchange (TSX) continues its impressive rally, closing at yet another record high as its winning streak stretches to nine consecutive trading days. The benchmark S&P/TSX Composite Index  rose 0.3% , adding 74.4 points  to settle at 25,971.9 .  This latest surge marks a 2.4% weekly gain , reinforcing investor optimism amid strong performances across multiple sectors. Healthcare led the charge with a 1.2% increase , while Basic Materials saw a slight dip of 0.2% .  Market analysts attribute the sustained momentum to robust corporate earnings, stable commodity prices, and easing trade tensions . With 74% of TSX-listed stocks closing higher , the bullish sentiment remains strong, fueling expectations for continued growth in the coming weeks.  Investors will be watching closely to see if the TSX can maintain its upward trajectory and extend its streak into double digits.
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US Futures Slip Amid Earnings Rush, Fed Teeters

US stocks are expected to open lower today as investors grapple with a mix of earnings reports and uncertainty about Federal Reserve policy. Here are the key points driving the market:

  1. Rate-Cut Speculation: Investors are closely watching the Fed’s stance on interest rates. Federal Reserve policymaker Neel Kashkari’s recent comments suggest that rates will remain at historic highs for some time. This tempered hopes of an earlier easing in policy.

  2. Earnings Reports: Corporate earnings season is in full swing. While tech companies have generally met high expectations, attention is now shifting to other sectors. Notable reports include:

    • Uber: The ride-hailing giant’s bookings metric missed expectations, causing its shares to drop nearly 7% in pre-market trading.
    • Shopify: The e-commerce platform forecasted its slowest quarterly revenue growth in two years, leading to a sharp decline in its stock price.
    • Disney: Although Disney beat earnings estimates, Wall Street was still disappointed. Now, all eyes are on Fox’s earnings report.
    • Reddit (RDDT): The company reported adjusted operating profitability for the first time, with low capital expenditures and accelerating international sales. Reddit’s exec team also engaged with its community during the earnings call.

  3. Meme Stocks: Investors are closely monitoring meme stocks. After-hours updates from AMC Entertainment and Robinhood will be scrutinized for any signs of a Reddit-style surge.

Remember, the stock market is dynamic, and unexpected developments can occur. Stay informed and make investment decisions based on thorough research and analysis.


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