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Weekly Market Snapshot: TSX Rises as Oil Rebounds and U.S. Markets Cool

  TSX Edges Higher on Energy Strength The TSX posted a modest gain this week, supported by rising energy and financial stocks as oil prices rebounded from recent lows. Investor sentiment improved as commodity demand projections stabilized and geopolitical tensions eased. S&P 500 Cools After Strong Run The S&P 500 paused its recent rally, with tech names seeing mild pullbacks as traders reassessed earnings expectations and upcoming Federal Reserve commentary. Defensive sectors saw renewed interest as investors rotated toward value. Oil Rebounds, Supporting Canadian Markets Oil prices climbed on supply concerns and improving global demand forecasts. The rebound helped lift Canadian energy producers and contributed to the TSX’s relative outperformance. Canadian Dollar Holds Steady The CAD traded in a narrow range, balancing stronger commodity prices against softer domestic economic data. Markets continue to watch for Bank of Canada signals on future rate direction. Wi...
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May Housing Market: Sales Decline Amid Record High Prices

 

In May, sales of previously owned homes declined for the third consecutive month as prices hit an all-time high. Year-over-year sales were down by 2.8%¹. The median home price in the US reached $419,300, contributing to the slowdown in home sales due to elevated interest rates. 

Lawrence Yun, chief economist at the National Association of Realtors (NAR), expressed surprise at the lack of a spring recovery. Only the Midwest saw an increase in home sales, while other regions remained flat or experienced monthly declines. Despite the market's softer conditions, homes still received multiple offers, and first-time buyers' share of purchases surpassed 30% for the second straight month³. It's a complex market situation, but I hope this summary sheds some light on the current trends! 




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