Stock Market: Quiet start to the week in New York and Toronto

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Market review. The New York Stock Exchange took off on Monday, as the Dow Jones looks to continue its run to a new high, while the Nasdaq index attempts to recover and the S&P 500 index fell again at the start of a week focused on the currency meeting of the Federal Reserve.

The Toronto Stock Exchange advanced at the start of the session despite losses in some sectors due to a 9% jump in the telecom sector, driven by before Rogers’ acquisition of Shaw Communications.


In Toronto, Prof. S & P / TSX It increased by 86 points, or 0.46%, to 18938 points.

In New York, Prof. Standard & Poor’s 500 It was 3 points, or 0.08%, at 3,946 points.

The Dow Jones It rose 132 points, or 0.4%, to 32,911, surpassing the record set at close on Friday.

The Nasdaq He scored 15 points, equivalent to 0.11% to 13,335 points.


Schwab analysts said: “US stocks mixed early in the session, and the Dow Jones is looking to thrive thanks to its strong gains last week.”

Optimism related to economic re-opening remained the main catalyst and benefited from more frequent stocks. Technology stocks, known for growth, have been more sensitive to fears of price acceleration and the overheating economy.

The $ 1.9 trillion stimulus package approved by Congress, which President Joe Biden signed on Thursday, should really accelerate the recovery in consumption. The first checks worth $ 1,400 per person were sent this weekend in the United States.

The 10-year Treasury yield remained around 1.61% on Monday morning, compared to 1.62% on Friday.

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A positive sign of manufacturing activity in the New York area showed that activity rose to its highest level since July 2020. Prices paid to suppliers are also at their highest levels in 10 years, according to the monthly Empire State Index released on Monday.

The week on Wednesday will be marked by a press conference by Fed Chairman Jerome Powell, after the central bank’s monetary committee meeting. The Fed is expected to repeat the status quo, with overnight interest rates at zero, but investors will keep an eye on Mr Powell’s new economic outlook.

As the vaccination campaign progressed well in the United States, the airline’s headlines soared American Airlines (+ 8.26%) or United Airlines (+ 5,50%).

American test lab Jinmark, Which will be bought by the Swiss Roche 1.8 billion, it took nearly 30%.

The title of the movie theaters series AMC, Which plans to reopen cinemas in California, jumped 16%.

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