One step forward, two back for TSX

By Staff | November 2, 2015 | Last updated on November 2, 2015
1 min read

Investors hit the exits at the end of the month, putting a dent in the TSX’s performance. That and more from Prab Sagoo, associate director at Nasdaq Advisory Services, in his weekly commentary.


  • October performance took a hit as investors booked profits on the last day of trading for the month. The TSX still finished with a 1.6% gain though underperformed the S&P 500 notably (+8%).
  • Big declines in healthcare names offset much overdue strength from energy, financials and materials names, with small-caps outperforming during the month.
  • The Federal Reserve held rates steady last week, but opened the door to a rate rise in December. The market has been adjusting to this new possibility—look for possible weakness among utilities, telco and REITs.
  • Unemployment data will be headlining the calendar this week. Canadian data will indicate whether the tepid GDP growth continues to be underpinned by some underlying labour market strength. Markets will likely be driven by U.S. non-farm payrolls data, which traders will look to for a guide on the Fed’s rate hike schedule. There will also be numerous Federal Reserve officials making speeches, all of which will be closely watched for the same reason. staff


The staff of have been covering news for financial advisors since 1998.