A concise overview of the day's financial market activity, highlighting key stock movements, trends, and major events. Stay updated on market performance and critical shifts that impact your investments.
Index Update: Canadian stocks moved to the downside early in the trading day on Friday but rebounded over the course of the session. The benchmark S&P/TSX Composite Index lost 0.03% and closed at 26,497.57. Macro Update: Renewed trade concerns weighed on the market early in the session after U.S. President Donald Trump threatened to impose 50 percent tariffs on imports from the European Union beginning June 1st. Statistics Canada released a report showing retail sales climbed by 0.8 percent in March, led by increases at motor vehicle and parts dealers. Top Movers: The biggest gainers of the session on the S&P/TSX Composite were MDA Ltd (TSX:MDA), which rose 5.09% or 1.56 points to trade at 32.22 at the close. Bombardier Inc (TSX:BBDb) added 3.95% or 4.21 points to end at 110.81 and Brookfield Business Partners LP (TSX:BBU_u) up 3.40% or 1.16 points to 35.25 in late trade. Our Stance: Currently, the index is currently testing a critical support zone near 26,200. Holding above this level is crucial for maintaining upward momentum. A decisive break below 26,200 could signal the potential for a retracement, with the next key support levels seen between 25,900 and 25,600 on the daily chart. Sustaining these
Index Update: Canadian stock market dipped on Thursday as investors traded cautiously factoring in the possibility of direct US involvement in the Middle East. The benchmark S&P/TSX Composite Index, today hit the day's high of 26,526.95 within a few minutes after opening below yesterday's close. Dropping again soon, it inched its way up later through the day and managed to settle at 26,506.00 down by 53.85 (or 0.20%). Macro Update: The Canadian Federation of Independent Business Barometer long-term index revealed that 12-month expectations among small businesses increased by 7.3 points to 47.3 in June, from 40 of May, reflecting growing optimism amongst traders. As expected, the US Federal Reserve kept the interest rates unchanged at 4.25% to 4.50% for a fourth consecutive meeting yesterday with the Fed projecting two rate cuts later this year. In addition, the Fed's Chair Jerome Powell stated that inflation is expected to increase over the summer. Top Movers: Dollarama (0.74%), Capstone Mining (3.75%), and Bausch Health Companies (2.72%) were the notable losers. While Paramount Resources (2.67%), Empire Company (5.30%), and Rogers Communications (0.74%) were the prominent gainers. Our Stance: Currently, the index is testing a critical support zone near 26,300. Holding above this level is
Index Update: The benchmark S&P/TSX Composite Index, after opening past yesterday's close, rallied for an hour hitting the day's high of 26,639.01. It continued to swing past noon after which it managed to settle at 26,559.85 up by 18.46 (or 0.07 percent). Macro Update: The US Federal Reserve left the interest rates unchanged at 4.25% to 4.50% for the fourth consecutive time. This decision was broadly in line with market expectations. Notably, the Fed has projected two rate cuts later this year. US participation could escalate the crisis by increasing the chances of Iran's allies joining the war and prolong the conflict thus impacting the global financial and commodity markets severely. Top Movers: Bausch Health Companies (8.46%), Celestica (3.39%), Constellation Software (1.80%), and Brookfield Corporation (2.96%) were the prominent gainers. Our Stance: The index is currently testing key support near 26,300. Maintaining this level is crucial to sustaining the bullish trend. A break below could trigger a pullback toward the next support areas around 25,900 and 25,700. Conversely, holding above these levels will be important for preserving upward momentum in the sessions ahead. Commodity Update: The dollar held firm Thursday amid Fed Chair Powell’s cautious inflation stance and rising Middle
Index Update: The S&P/TSX Composite Index edged down 0.10% to 26,541.39 on Tuesday as rising Middle East tensions and President Trump’s aggressive stance on Iran pushed investors toward safe-haven assets. Despite Iran’s behind-the-scenes ceasefire lobbying, market sentiment remained cautious. Domestically, PM Mark Carney jolted markets by announcing plans with Trump to finalize a new economic and security pact within 30 days. Macro Update: Dollar Softens, Yields Steady: The US dollar index pulled back to 98.6, paring Tuesday’s safe-haven rally as markets await Fed guidance. Meanwhile, the 10-year Treasury yield held near 4.4%, after dipping Tuesday on geopolitical tensions and softer-than-expected retail sales. Fed in Focus, Rates Likely on Hold: The Federal Reserve is widely expected to keep its benchmark rate unchanged at 4.25%–4.50% for the fourth straight meeting. Attention will shift to the updated economic projections and the dot plot, especially after April’s sweeping tariffs and ongoing geopolitical risks. Inflation data remains stable, with headline CPI at 2.4% and core at 2.8%, while unemployment has held steady despite a job growth slowdown. Middle East Tensions Escalate: Israel and Iran exchanged fire for a sixth straight day, with the U.S. aiding Israel’s defense systems. President Trump called for Iran’s “unconditional surrender”
Index Update: The index then rallied to hit the day's high of 26,681.74 within an hour or so, but unable to carry the momentum, fell gradually to settle at 26,568.61, still up by 64.26 or 0.24%. Macro Update: In Canadian economic news, separate reports released by Statistics Canada showed manufacturing sales and wholesale sales tumbled by 2.8% and 2.3%, respectively, in April. All eyes are on the G7 summit in Kananaskis, Alberta, where leaders have convened to ensure stability in stock and commodity markets as well as in advancing trade deals. Top Movers: Blackberry (6.29%), Lightspeed Commerce (3.98%), Shopify (2.72%), Aritizia (3.44%), and Fairfax (1.93%) were the prominent gainers. G Mining Ventures (6.21%), Torex Gold (4.66%), Baytex (3.53%), Jamieson Wellness (1.12%), and Parex Resources (4.35%) were among the notable losers. Our Stance: The index remains well above its 21-period Simple Moving Average (SMA), supporting a bullish short-term outlook. The index tests a key support level of around 26,200. Holding above this level is critical to sustaining the current uptrend. A break below could trigger a pullback toward 25,800 and 25,600. Continued strength above these levels will be vital to maintain upward momentum in the sessions ahead. Commodity Update: The U.S.
Index Update: On Friday, the Canadian market fell from the previous day's record high in response to Israel's comprehensive attacks on Iran. The benchmark S&P/TSX Composite Index recovered after an early decline, but fell again as the day progressed, closing down 111.40 points, or 0.4%, at 26,504.35. Macro Update: In Canadian economic news, separate reports released by Statistics Canada showed manufacturing sales and wholesale sales tumbled by 2.8% and 2.3%, respectively, in April. On the geopolitical front, around 200 Israeli Air Force fighter jets attacked hundreds of nuclear and military targets across Iran. While US President Donald Trump stated that Iran brought on this attack upon itself. Top Movers: International Petroleum (9.04%), Baytex Energy (4.93%), Suncor Energy (4.70%), Methanex Corp (4.41%), Dundee Precious Metals (4.00%), and Barrick Mining Corp (2.95%) were the prominent gainers. While, Lightspeed Commerce (5.30%), Docebo (4.53%), Celestica Inc. (4.31%), Shopify (3.62%), Magna International (3.19%), and Canadian National Railway (1.50%) were among the notable losers. Our Stance: From a technical perspective, the index remains comfortably above its 21-period Simple Moving Average (SMA), reinforcing a bullish short-term outlook. The index is approaching a critical support level near 26,200. Sustaining this level is essential for preserving the current upward
Index Update: The S&P/TSX Composite Index rose 0.3% to close at 26,616 mark on Thursday, renewing its record high as investors reacted to softer US economic data and rising geopolitical risks. Macro Update: Signs of a cooling US labor market, along with weaker-than-expected CPI and PPI data, increased market expectations of a Federal Reserve rate cut as early as September, with 50 basis points of easing now priced in for 2025. On the geopolitical front, tensions intensified after the US ordered embassy staff from Baghdad following Iranian threats against American bases and President Trump announced forthcoming unilateral tariffs to key partners, driving safe-haven flows into bullion. Top Movers: Agnico Eagle, Wheaton Precious Metals, Barrick Gold and Franco-Nevada—rose over 1% on higher gold prices, while energy names pared early losses amid a modest pullback in oil. Our Stance: From a technical perspective, the index remains comfortably above its 21-period Simple Moving Average (SMA), reinforcing a bullish short-term outlook. The index is testing key support around 26,300 holding above this level is critical to preserving the current bullish trend. A breakdown could trigger a pullback toward the next support zones near 25,900 and 25,700. Commodity Update: The U.S. dollar surged along with
Index Update: The Canadian benchmark stock market index, S&P/TSX Composite Index opened near yesterday's close and within a couple of hours reached an intraday high of 26,586.76. the index rose to close at 26,524.16, up by 97.85 (or 0.37%). This is a new record high for index. Macro Update: In a significant development following two-day talks between U.S. and Chinese officials in London to ease the tariff conflict, today the U.S. President Donald Trump stated that a deal with China has been done. On the data front, Statistics Canada reported that the total value of building permits in Canada fell by 6.6% month-over-month, below market expectations affecting Real Estate sector stocks today. Top Movers: Vermilion Energy (4.78%), Parex Resources (3.97%), Imperial Oil (2.83%), Dollarama Inc (9.80%), Celestica (5.04%) and Shopify Inc (3.46%) were the notable gainers. Our Stance: From a technical perspective, the index remains comfortably above its 21-period Simple Moving Average (SMA), reinforcing a bullish short-term outlook. The index is currently testing a key support zone near 26,200. Holding this level is essential to sustain the upward momentum. A breakdown below this area could lead to a corrective phase, with the next significant support levels found on the weekly
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