Skip to content
Scotia Wealth Management

Investors analyze inflation data

Market Watch – April 14, 2023

April 17, 2023

North American equity markets finished mixed on Monday as investors considered what a still-tight labour market might mean for the U.S. Federal Reserve Board’s (“Fed”) next rate announcement. By the close, the Dow gained 101, the S&P 500 rose by 4, while the Nasdaq lost 4 points. In Canada, the TSX added 79 points led by the Health Care sector.

On Tuesday, U.S. equity markets ended mixed again as investors awaited U.S. inflation data due to be released on Wednesday, along with the interest rate decision from the Bank of Canada. By the day’s close, the Dow gained 98 points, the S&P 500 ended flat, and the Nasdaq dropped 52 points. In Canada, the TSX gained 146 points.

North American markets fell on Wednesday as U.S. inflation data pointed to another rate hike by the Fed. The Dow lost 38 points by the close, while the S&P 500 fell by 17 and the Nasdaq declined by 103 points, respectively. In Canada, the TSX saw a 32-point rise led by the Real Estate sector.

U.S. equities surged higher on Thursday as expectations grew that the Fed might consider cutting rates later this year amid a pullback in economic conditions. By the close, the Dow rose 383 points, the S&P 500 rose by 54 points and the Nasdaq gained 237 points. In Canada, the TSX added 110 points propelled by the Materials sector.

Read more

Legal

This publication has been prepared by Scotia Capital Inc. and is intended as a general source of information only and should not be considered as personal and/or specific financial, tax, pension, legal or investment advice. We are not tax or legal advisors and we recommend that individuals consult with their qualified advisors before taking any action based upon the information contained in this publication. Opinions and projections contained in this publication are our own as of the date hereof and are subject to change without notice. While care and attention has been taken to ensure the accuracy and reliability of the material in this publication, neither Scotia Capital Inc. nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of such material and disclaim any liability resulting from any direct or consequential loss arising from any use of this publication or the information contained herein. This publication and all the information, opinions and conclusions contained herein are protected by copyright. This publication may not be reproduced in whole or in part without the prior express consent of Scotia Capital Inc.