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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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Market Turmoil: U.S. Stocks Plunge Amid Trump Tariff Fears

 

U.S. stocks experienced a significant decline on Friday as concerns over President Donald Trump's tariff policies spread among businesses and consumers. The S&P 500 fell by 1.7%, marking its worst day in two months, while the Dow Jones Industrial Average dropped 748 points, or 1.7%, and the Nasdaq composite tumbled 2.2%.

The losses accelerated throughout the day following several weaker-than-expected economic reports. One report suggested that U.S. business activity is close to stalling, with growth slowing to a 17-month low. The preliminary report from S&P Global indicated that activity unexpectedly shrank for U.S. services businesses, with many in the survey reporting slumping optimism due to concerns about Washington.

Additionally, a separate report revealed that U.S. consumers are preparing for higher inflation, partly due to potential tariffs that could raise prices for various imports. The University of Michigan's survey showed that consumers broadly expect prices to be 4.3% higher 12 months from now, a significant jump from their forecast of 3.3% inflation last month.

The stock market's decline was widespread, with stocks of the smallest companies, whose profits are more closely tied to the strength of the U.S. economy, falling more than the rest of the market. The Russell 2000 index of small stocks dropped by 2.9%. Within the S&P 500 index, three out of every four stocks fell, including Big Tech stocks, airlines, and metals companies.

Despite the recent downturn, the U.S. stock market remains up for the year so far and is not far from its all-time high set earlier this week. However, Friday's reports have raised concerns about the resilience of the economy, and the losses on Wall Street were widespread.


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