MARKET ANALYSIS. Toronto stocks rose nearly 200 points late Tuesday morning, buoyed by gains in energy-sector stocks and the price of crude oil, while major US indexes also rose.
The New York Stock Exchange opened softly on Tuesday in an uncrowded market in the middle of Thanksgiving week, pending further comments from Fed members and, on Wednesday, the minutes of their latest monetary meeting.
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Stock market indexes at noon
In Toronto, the S&P/TSX increased by 196.49 points (+0.98%) to 20,173.62 points.
In New York, the S&P500 advanced by 29.43 points (+0.75%) to 3,979.37 points.
the Nasdaq he collected 48.63 points (+0.44%) at 11,073.14 points.
the DOW extension gained 281.49 points (+0.84%) to 33,981.77 points.
the crazy rose by US$0.0029 (+0.3851%) to US$0.7463.
the oil rose $1.75 (+2.19%) to $81.79.
gold earned US$2.40 (+0.14%) to US$1,742.00.
the bitcoins advanced by US$145.15 (+0.90%) to US$16,184.67.
Trading “rised this (Tuesday) morning, but the reason for this positive move doesn’t have a specific driver,” stressed Patrick O’Hare, while the markets will be closed for Thanksgiving Thursday, the most important and popular holiday in the United States States.
Same story among Schwab analysts who saw “no big directional drivers in a week shortened on holidays.”
The day before, Wall Street had finished lower in an already sluggish market: the Dow Jones was down 0.13%, the Nasdaq index was down 1.09% and the broader S&P 500 index was down 0.39%. .
Several members of the US central bank sent mixed signals on Monday.
Cleveland Fed Chair Loretta Mester said there is “still work” to bring inflation down to 2%, but she appears to be in favor of slowing the pace of overnight interest rate hikes.
Raphael Bostic, president of the Atlanta Fed, also said he was in favor of easing the crackdowns. As for Susan Collins of the Boston Fed, she reiterated that a hike of 75 basis points is still possible, after already four consecutive hikes of this order.
More Federal Reserve officials are expected on Tuesday, including Kansas City’s Esther George and the St. Louis Fed’s James Bullard.
The macroeconomic calendar was blank on Tuesday, but the next day was expected to be filled with durable goods orders, new home sales, consumer confidence and especially the “minutes” of the last Fed meeting.
Some positive surprises appeared in corporate results with the electronics retailer Best Buy (BBY) (+9.70%).
The group reported profits that beat analyst forecasts in the third quarter, although its sales fell further. Best Buy’s management also expressed optimism for year-end sales.
The business chain Dollar Tree (DLTR) it fell by more than 9%, despite also better than expected results.
The title of the video communication specialist Zoom (ZM) fell 7.75% to $74 as the company revised its revenue forecast slightly lower despite a better-than-expected quarterly result.
The microcomputer manufacturer Dell (DELL) was welcomed (+3.99%) after strong third quarter results.
In the bond market, rates on 10-year Treasury bills fell slightly to 3.78% versus 3.82%.