Markets rise to start the week as investors eye rate decision, earnings and data

There wasn’t a clear market driver Monday, but markets were coming off of a negative week for equities, said Giles Marshall, portfolio manager at Fiduciary Trust Canada.The S&P/TSX composite index closed up 119.37 points at 18,856.76.

Though there wasn’t much news for markets to react to on Monday, the rest of the week should have a lot in store. In addition to the ongoing earnings season, which sees tech giant Apple reporting this week, the U.S. Federal Reserve will make its interest rate decision Wednesday, noted Marshall. “We've seen some mixed earnings announcements, some disappointments even amongst the so-called Magnificent Seven, accompanied by some cautious guidance, in particular from Meta, last week.”

“Markets will definitely be on tenterhooks as usual,” he said, adding that he expects Powell to continue his hawkish bent.

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Financial and tech stocks boost S&P/TSX composite, U.S. stock markets also upTORONTO — Strength in financial and technology stocks helped lift Canada's main stock index in late-morning trading, while U.S. stock markets also pushed...
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