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Weekly Market Snapshot: Gold's Wild Ride, TSX Slips as Warsh Rattles Markets

  It was a week that started with the TSX chasing records and ended with new Fed Chair Kevin Warsh reminding everyone the inflation fight isn't over. Big bank earnings rolled in strong, Nvidia delivered a blockbuster quarter, and gold went from a fresh record above $4,700 to a sharp Friday selloff — all in five trading days. Here's what moved your money this week, and what's coming up. 🇨🇦 Canadian Markets Index Close (Fri) Week Change S&P/TSX Composite 36,553.92 ▼ down on the week Canadian Dollar (USD/CAD) ~71.98¢ US roughly flat The TSX opened the week near record territory (36,834 Thursday, its second-highest close ever) on the strength of a clean finish to Big Five bank earnings — RBC posted a record $6.0 billion quarterly profit, CIBC's adjusted income jumped 26%, and Scotiabank's PCLs came in better than feared. But Friday turned rough: the index dropped roughly 280 points (-0.77%) to 36,553.92 as Warsh's hawkish tone hit both banks and gold miners, e...
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Chinese Stocks Plummet Amid Stimulus Concerns

 

Chinese stocks experienced a significant downturn today, with the Shanghai Composite Index plummeting by 6.6%. This sharp decline comes as investors express growing anxiety over the lack of substantial economic stimulus from Beijing.

The market’s reaction follows recent rallies driven by hopes for major economic interventions. However, the latest announcements from Chinese officials have failed to meet these expectations, leading to widespread sell-offs. The CSI300 Index, which tracks the top 300 stocks in the Shanghai and Shenzhen markets, also saw a substantial drop of 5.6%.

Hong Kong’s Hang Seng Index was not spared, falling by 1.5% as investors moved to lock in profits after recent gains. The lack of new, impactful fiscal policies has left many market participants disappointed, contributing to the overall negative sentiment.

Analysts suggest that the market’s response is a clear signal of diminishing confidence in half-hearted promises and a demand for more decisive economic measures. As the situation unfolds, global investors will be closely watching for any further developments from Beijing.



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