cambridgetoday.ca on Nostr: TSX down almost 1% Friday, U.S. stock markets fall sharply as rate cut hopes wane ...
TSX down almost 1% Friday, U.S. stock markets fall sharply as rate cut hopes wane
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Canada's main stock index, the S&P/TSX composite index, closed down 210.12 points at 21,899.99 on Friday. The Dow Jones industrial average was down 475.84 points at 37,983.24, the S&P 500 index was down 75.65 points at 5,123.41, and the Nasdaq composite was down 267.10 points at 16,175.09. The decline in stock markets is attributed to investors recalibrating their expectations regarding central banks and interest rates. Expectations for rate cuts from the U.S. Federal Reserve have been reduced from three to two or even one. The Bank of Canada is also expected to cut rates starting in June. The Canadian dollar has been negatively affected by these developments, trading at 72.64 cents US. Earnings season in the U.S. began with mixed reports from major banks, causing caution among investors. The May crude contract was up 64 cents at US$85.66 per barrel, the May natural gas contract was up one cent at US$1.77 per mmBTU, the June gold contract was up US$1.40 at US$2,374.10 an ounce, and the May copper contract was up one cent at US$4.26 a pound.
#StockMarket #Tsx #S&p/tsxCompositeIndex #InterestRates #RateCuts #Investors #UsFederalReserve #BankOfCanada #EarningsSeason #CrudeOil #Gold #Copper
https://www.cambridgetoday.ca/national-business/tsx-down-almost-1-friday-us-stock-markets-fall-sharply-as-rate-cut-hopes-wane-8591553
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Canada's main stock index, the S&P/TSX composite index, closed down 210.12 points at 21,899.99 on Friday. The Dow Jones industrial average was down 475.84 points at 37,983.24, the S&P 500 index was down 75.65 points at 5,123.41, and the Nasdaq composite was down 267.10 points at 16,175.09. The decline in stock markets is attributed to investors recalibrating their expectations regarding central banks and interest rates. Expectations for rate cuts from the U.S. Federal Reserve have been reduced from three to two or even one. The Bank of Canada is also expected to cut rates starting in June. The Canadian dollar has been negatively affected by these developments, trading at 72.64 cents US. Earnings season in the U.S. began with mixed reports from major banks, causing caution among investors. The May crude contract was up 64 cents at US$85.66 per barrel, the May natural gas contract was up one cent at US$1.77 per mmBTU, the June gold contract was up US$1.40 at US$2,374.10 an ounce, and the May copper contract was up one cent at US$4.26 a pound.
#StockMarket #Tsx #S&p/tsxCompositeIndex #InterestRates #RateCuts #Investors #UsFederalReserve #BankOfCanada #EarningsSeason #CrudeOil #Gold #Copper
https://www.cambridgetoday.ca/national-business/tsx-down-almost-1-friday-us-stock-markets-fall-sharply-as-rate-cut-hopes-wane-8591553