TORONTO — Canada's main stock index posted a small loss Monday amid broad-based weakness, while U.S. markets were mixed as the tech-focused Nasdaq gained almost 1.6 per cent. The S&P/TSX composite index closed down 33.52 points at 19,784.87.
TORONTO — Canada's main stock index posted a small loss Monday amid broad-based weakness, while U.S. markets were mixed as the tech-focused Nasdaq gained almost 1.6 per cent.In New York, the Dow Jones industrial average was down 36.97 points at 34,463.69. The S&P 500 index was up 30.06 points at 4,399.77, while the Nasdaq composite was up 206.81 points at 13,497.59.
Nvidia, the chip-making company that helped drive the tech rally earlier this year, saw several analyst upgrades that boosted its stock, said Small. Nvidia’s stock rose almost 8.5 per cent Monday.Nvidia’s last report was “one of the best quarterly earnings reports I've ever seen from any company in any sector,” said Small.The bar is high for Nvidia ahead of Wednesday’s report, he said, and if it misses, that could reverberate across the entire tech sector.
Bond yields continued to rise, with the 10-year Treasury yield touching its highest level since 2007, putting pressure on the stock market. Yields are rising on a growing sense that interest rates could remain higher for longer, said Small.
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