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: After opening slightly below yesterday's close, the benchmark S&P/TSX Composite Index turned lower only for an hour. Gaining momentum, the index then entered into positive territory where it reached an intra-day high of 27,396.49 in less than an hour before finally settling at 27,364.43, up by 47.43 (or 0.17%). Macro Update: Carney stated today that Canada-US Trade Minister Dominic LeBlanc will be in Washington over the next few days to accelerate the process. He had acknowledged last week that some of the tariffs would stay even if a bilateral agreement is sealed between both the nations. Recent economic data revealed that inflation and job numbers have not fared poorly and the economy has not deteriorated badly as most of the impact from tariffs have been borne by steel, aluminum, and automobile sectors. The Bank of Canada has maintained the interest rate steady at 2.75% from April. Top Movers: Ivanhoe Mines Ltd (7.02%), Agnico Eagle Mines (4.23%), Wheaton Precious Metals Corp (4.08%), Rogers Communications Inc (1.78%), and Vermilion Energy Inc (3.57%) were the prominent gainers. Our Stance: The index is currently testing key support near 27,000. Holding above this level is essential to preserve the current bullish trend, while
Index Update: Canadian stocks changed little on Monday. After opening higher than last week's close, the benchmark S&P/TSX Composite Index inched up slowly to reach an intra-day high of 27,448.51 in a couple of hours. However, falling from there, the index continued its slide to finally settle at 27,317.00, up by just 2.99 (or 0.01%). Macro Update: The Canadian Prime Miniter initiated talks with the Chiefs of First Nations to allay their fears on the proposed Building Canada Act (Bill C-5) which gives the government, powers to bypass government regulations and environmental assessments to promote big-scale industrial projects in the interest of the nation. He also announced that he is cutting down the taxes for families across Canada to help them save up to $840 a year. Data released by Statistics Canada revealed that industrial producer prices rose 0.4% month-over-month in June, bouncing back from two consecutive declines. The index rose 1.7% year-over-year in June 2025. Top Movers: Major sectors that gained in today's trading were Materials (2.30%), Utilities (0.60%), Communication Services (0.57%), and Real Estate (0.35%). Among the individual stocks, Novagold Res Inc (8.96%), Centerra Gold Inc (7.19%), Fortuna Mines Inc (6.60%), and Boralex Inc (3.75%) were the prominent
Index Update: Canadian stocks saw a modest dip on Friday as investors opted for profit taking to realize the gains made over this week when the market reached record-high levels. After opening above yesterday's close, the benchmark S&P/TSX Composite Index, reached an intraday high of 27,422.06 in less than an hour. After falling into negative territory, the index hovered around before finally settling at 27,314.01, down by 72.92 (or 0.27%). Macro Update: Statistics Canada reported on Wednesday that the gap between the nation's highest and lowest household income reached a record high in the first quarter of 2025. Weeks before, Canada began its LNG export to Asia. The Canadian foreign minister is set to tour Asian countries to sign bilateral trade agreements. Yesterday's data from the US revealing a resilient job market and decent retail sales growth, has drowned the hopes for any immediate interest rate cuts by the Federal Reserve. Trump has expressed his displeasure over high interest rates and strongly criticized Fed Chair Jerome Powell. Top Movers: Premium Brands Holdings (2.57%), Alimentation Couche-Tard Inc (1.93%), Capital Power Corp (2.32%), and Headwater Exploration Inc (3.77%) were the prominent gainers. Our Stance: Technically, the focus now shifts to key support
Index Update: After opening well above yesterday's close, the benchmark S&P/TSX Composite Index moved further into positive territory and reached an intra-day high of 27,422.42 before finally settling at 27,386.93, up by 233.96 (or 0.86%). This is a fresh record for the index. Macro Update: Yesterday, PM Carney assured he plans to crack down on cheap, foreign steel entering Canada by the end of the month as the domestic industry is under duress due to Trump's tariff. On the data front, the Canadian Federation of Independent Business Barometer long-term index rose 3.4 points to 50.9. The yield on the two-year bond eased to 2.81% today, marking a 0% decrease from the previous session. In the US, jobs data revealed a positive trend, indicating a strong labor market. This has drawn up expectations for an interest rate cut by the US Federal Reserve, anytime sooner. Top Movers: Shopify Inc (6.15%), Sylogist Ltd (4.43%), Coveo Solutions Inc (4.39%), and Gildan Activewear Inc (5.65%) were the prominent gainers. Our Stance: From a technical perspective, the index is currently testing a key support level of around 27,100. Holding above this threshold is essential to preserve the current bullish trend. A breakdown below could lead
Index Update: Opening higher than yesterday's close, the benchmark S&P/TSX Composite Index dropped until just before noon. Later, it picked up momentum to rise and hit an intraday high of 27,159.87 before settling at 27,152.97, up by 98.83 (or 0.37%). Macro Update: Last week, accusing the Canadian government of failing to control illicit drug entry into the US via the US-Canadian borders, US President Donald Trump announced 35% tariffs on Canada. Canada's Mortgage and Housing Corporation data released today revealed that housing starts in Canada rose 3.6% in June to 253,081 units. The Seasonally Adjusted Annual Rate (SAAR) of housing starts across Canada was nearly flat at 2,83,734 units in June. Top Movers: Shopify Inc (3.97%), Coveo Solutions Inc (3.50%), Lightspeed Commerce Inc (3.45%), and Brookfield Asset Management (4.25%) were the prominent gainers. Our Stance: From a technical perspective, the index is currently holding above the near-term support zone at 26,800 a critical threshold for preserving bullish momentum. If this level holds, it could prompt renewed buying interest and set the stage for a potential rebound toward recent highs. However, a clear break below 26,800 may increase selling pressure, potentially signaling a deeper correction ahead. Commodity Update: The dollar weakened
Index Update: Canadian stocks pulled back on Tuesday as investors resorted to profit-taking with no fresh detail on a Canada-US trade agreement coming up to boost sentiment. The benchmark S&P/TSX Composite Index hit an intra-day high of 27,239.48 within minutes. However, it soon fell, travelled in the negative territory for the remainder of the trading session, and settled at 27,054.14, down by 144.71 (or 0.53 %). Macro Update: The annual inflation rate in Canada rose to 1.9% in June from 1.7% in May. While inflation has risen for durable goods, passenger vehicles, and furniture, it slowed for food and shelter. The CPI Median increased to 3.10% in June from 3% in May. The trimmed-mean core CPI that the Bank of Canada considers for gauging inflation was unchanged at 3%. The annual core inflation rate in Canada rose to 2.7% in June from 2.5% in May. Economists are of the opinion that the central bank is likely to hold the interest rates steady this month in the backdrop of the above data. Top Movers: Northland Power Inc (1.79%), AltaGas Ltd (1.34%), BCE Inc (0.98%), and Rogers Communications (0.77%). were the prominent gainers. Our Stance: From a technical perspective, the index is
Index Update: Canada equities were higher at the close on Monday as gains in the IT, Industrials and REITs sector led shares higher. The benchmark S&P/TSX Composite added 0.65% to hit a new all-time high. Macro Update: The EU announced it will suspend the implementation of its trade countermeasures against the U.S. until early August to allow more time for a negotiated settlement to the issue. The EU's retaliatory tariff on $25 billion worth of American goods for the 25 percent import duty that the U.S. imposed on steel and aluminum imports from Europe was set to come into force Monday. Top Movers: Thomson Reuters Corp rose 7.74% to trade at 293.53 at the close. Energy Fuels Inc. added 6.08% to end at 9.59 and Shopify Inc was up 4.26% to 159.95 in late trade. Our Stance: From a technical perspective, the index is currently testing a critical support zone near 26,900. Holding above this level is crucial for maintaining upward momentum. A decisive break below 26,900 could signal a potential retracement, with the next key support levels seen between 26,600 and 26,400 on the daily chart. Sustaining these levels will be essential for the bullish trend to remain intact
Index Update: Canadian stocks turned lower on Friday as US President Donald Trump suddenly intensified his tariff pressure on Canada. The benchmark S&P/TSX Composite Index moved lower and after swinging until post noon, managed to settle at 27,023.25, down by 59.05 (or 0.22 %). Macro Update: Canadian PM Mark Carney has stated in response that Canada would continue to defend workers and businesses even as it continues negotiations with the US ahead of the August 1 deadline. Blaming Canada for failing to check illicit drug entry via Canadian borders into the US, Trump announced plans to impose a 35% levy on imports from Canada starting next month. It is an increase from the current 25% imposed in March. He also added that any counter-tariff by Canada will be met by re-imposing the same number on Canada over and top of the 35%. Jobs data released by Statistics Canada today revealed that the unemployment rate eased to 6.9% in June from 7% in the previous month. Total employment grew by 83,100 jobs. Top Movers: Kelt Exploration Ltd (3.93%), Advantage Oil & Gas Ltd (2.41%), Aya Gold and Silver Inc (9.25%), and First Majestic Silver Corp (7.36%) were the prominent gainers. Our
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