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Stock impact report

Toronto market pares weekly decline as financials rebound [Reuters]

Tilray Brands, Inc. (TLRY) 
Last tilray brands, inc. earnings: 3/2 04:05 pm Check Earnings Report
Company Research Source: Reuters
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 146.23 points, or 0.7%, at 19,920.31. For the week, the index was down 2.1% as Canada's major banks reported quarterly earnings. The weekly losing streak was the longest for the TSX in a year. "The big drag on the market this week were banks," said Greg Taylor, chief investment officer at Purpose Investments. "We're definitely seeing increased expenses and some concerns of a recession creeping into the sector." Wall Street also rose on Friday as progress in negotiations on raising the U.S. debt ceiling offset economic data that could support an additional interest rate hike by the Federal Reserve. "Once a debt deal is done, markets will have to deal with the harsh reality that the Fed is going to kill this economy," Edward Moya, senior market analyst at OANDA, said in a note. "The end of tightening might not occur until the end of summer and that means we will probably get bigger rate cuts next year." Show less Read more
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