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Canada's main stock index edged higher on Wednesday as optimism that a U.S. debt-ceiling deal could be reached offset worries around higher inflation and a pullback in energy stocks, with the index recouping earlier losses.
"People are becoming rather shy about the tech sector in general for the time being," said Sid Mokhtari, executive director of institutional equity research at CIBC. The tech sector also took a hit from Treasury Secretary Janet Yellen's comments that interest rates may have to rise to prevent the economy from overheating. The sector tends to underperform amid concerns about rising rates. The former Federal Reserve chairwoman's comments carry weight, said Mokhtari. With her successor, Jerome Powell, insisting that monetary stimulus will remain in place despite corporate concerns about inflatio...
TORONTO -- Most North American stock markets fell after a good start to May as the technology sector came under pressure in the United States. Several large U.S. tech giants were lower with Apple Inc. down 3.5 per cent amid a rotation away from growth areas of the market that did well during the pandemic lockdowns. "People are becoming rather shy about the tech sector in general for the time being," said Sid Mokhtari, executive director of institutional equity research at CIBC. The tech sector also took a hit from Treasury Secretary Janet Yellen's comments that interest rates may have...
TORONTO -- Canada's main stock index is following a well-documented trend for April by continuing to set records as investor optimism moved the materials, technology and energy sectors higher. April is historically the best month in the second quarter and one of the best months of the year, said Sid Mokhtari, executive director of institutional equity research at CIBC. “I do think that there is a footprint in April on a 10- and 30-year basis that has been pretty powerful and I think we're still following that footprint at this point,” he said in an interview. Mokhtari said the mon...
TORONTO — Canada's main stock index moved past a one-day blip to resume its upward trend as crude oil approached US$60 a barrel. The S&P/TSX composite index closed up 67.22 points to 18,460.21. It . . .